Pennsylvania Bill proposes workers’ comp insurance coverage for medical marijuana
House Bill 1766 seeks to mandate that insurers reimburse qualifying patients for medical marijuana expenses under the state’s Workers’ Compensation Act
Insurance News
The US economy absorbed $2.9 tn in losses from climate-related disasters between 1980-2024
The US economy absorbed nearly $2.915 tn in losses from climate-related disasters between 1980 and 2024. Incidents like the Palisades wildfires, Hurricane Helene
The UK’s commercial motor insurance market remains slow to shift toward electric vehicles
The UK’s commercial motor market remains slow to shift toward electric vehicles, complicating efforts by insurers to control rising claim costs and manage shifting risk profiles
Aon appoints former AARP CEO Jo Ann Jenkins to Board of Directors
Aon announced that Jo Ann Jenkins will join its Board of Directors effective August 15, 2025. Jenkins brings decades of leadership across nonprofit, public, and corporate sectors
FCA fines Woodford Investment Management over fund mismanagement
The Financial Conduct Authority (FCA) has issued fines against Neil Woodford and his firm, Woodford Investment Management (WIM), citing mismanagement of the Woodford Equity
Lloyd’s appoints Stephane Flaquet as Chief Operating Officer
Lloyd’s has appointed Stephane Flaquet as its new chief operating officer, effective Sept. 1, pending regulatory approval. He will also join the executive leadership team
California Department of Insurance targets FAIR Plan over smoke damage claim denials
The California Department of Insurance (CDI) has issued a show cause order against the FAIR Plan, accusing it of systematically denying smoke damage claims using policy language
Investors completed the €3.5 bn acquisition of life insurance platform Viridium
A group of institutional investors has completed the €3.5bn acquisition of Germany-based life insurance platform Viridium Group from private equity firm Cinven
Global P&C insurance market remained stable, with ongoing competition in property lines
The global P&C insurance market remained stable, with ongoing competition in property lines and cautious underwriting in casualty segments
Court backs United National Insurance on evidence ruling in Hurricane Laura claim dispute
The Fifth Circuit Court of Appeals upheld a key evidentiary ruling in a dispute between a policyholder and United National Insurance Co., but criticized the lower court for improperly disregarding
Mosaic Insurance launches Cyber-FI Crime coverage for digital asset
Mosaic Insurance has entered the digital asset market with a combined cyber and financial institutions (FI) crime insurance product
Clyde & Co secures dismissal of $25 mn personal injury claim Andrew Cannestra v McLaren
Clyde & Co has successfully defended McLaren Automotive Events Limited in a $25mn personal injury claim, following a High Court ruling that offers valuable precedent for insurers
Michigan suspends Peak Title over escrow mismanagement and $2.6 mn dispute
Michigan’s Department of Insurance and Financial Services (DIFS) issued emergency suspensions against Peak Title of Michigan Inc. and Peak Title Agency Co
Ireland targets litigation costs in New Insurance Reform Plan
Ireland has released a renewed Action Plan on Insurance Reform, introducing 26 measures — including 10 marked as priorities — intended to reduce premium costs
Florida’s largest personal auto insurers are signaling an average rate reduction of 6.5%
Florida’s five largest personal auto insurers are signaling an average rate reduction of 6.5%, according to the Florida Office of Insurance Regulation
Illinois Insurance Battle: Giannoulias challenges credit-based auto rate models
Insurance industry groups swiftly criticized a new campaign launched by Illinois Secretary of State Alexi Giannoulias that challenges how auto insurers assess risk
U.S. insurance industry adds 7,500 jobs in July amid broader hiring slowdown
While U.S. hiring cooled in July, the insurance sector recorded a gain of 7,500 jobs, reversing a decline from the previous month
UK specialty insurers report improved regulator performance, survey finds
Specialty insurers and regulated firms in the UK market say financial regulators have made notable progress in performance between 2024 and 2025
Mississippi Insurance Commissioner warns of coastal property insurance rate hike by 16%
Mississippi Insurance Commissioner Mike Chaney confirmed that coastal property insurance rates will increase by 16% starting Jan. 1, 2026
Berkshire’s insurance group posted a sharp decline in pretax earnings, falling to $63
Berkshire’s primary insurance group posted a sharp decline in pretax earnings, falling to $63 mn from $279 mn a year earlier
AM Best is maintaining Negative outlook on France’s non-life insurance sector
AM Best is maintaining its Negative outlook on France’s non-life insurance sector, citing limited inflation-adjusted growth, pressure on margins
Chubb completed acquisition of LMG Insurance in Thailand for $321 mn
Chubb has completed its acquisition of LMG Insurance in Thailand for $321 mn, marking a strategic expansion of its operations in Southeast Asia
Maryland weighs transparency in growing use of auto insurance telematics
Telematics-based auto insurance has gained traction in Maryland, though its expansion has raised concerns over transparency and fairness
U.S. Wildfire Insurance Coverage Study Act – how wildfires affect property insurance pricing
The Wildfire Insurance Coverage Study Act aims to identify strategies that reduce financial exposure for homeowners and insurers
PERILS expands severe convective storm loss in Europe, Japan, New Zealand
Reporting will apply to industry losses exceeding €500mn in Europe, ¥100bn in Japan, and NZ$300mn in New Zealand. The scope includes both property and motor insurance lines
65% of consumers want AI to simplify life insurance process – Survey
iCover Direct announced results from consumer survey revealing a growing consumer demand for AI to streamline and simplify the life insurance experience
Canada’s total insured catastrophe losses for 2024 to a record C$9.2 bn
Canadian insurers reported estimated losses of C$1.3 bn from the Jasper wildfire—C$80 mn above initial projections made in January
Marsh USA sues former Florida executives over alleged mass defection to Howden
Marsh USA has filed a lawsuit in U.S. District Court for the Southern District of New York, accusing four former Florida-based executives of orchestrating a large-scale employee
North Carolina adds $20 mn to roofing grant program for insurance policyholders
North Carolina’s Department of Insurance announced a $20 mn funding boost for its Strengthen Your Coastal Roof program, expanding grants for homeowners upgrading
Massachusetts Division of Insurance finalized 2026 premium rates for health insurance plans
The Massachusetts Division of Insurance (DOI) has finalized 2026 premium rates for individual and small group health plans, securing lower-than-requested increases from 6 insurers
UK High Court allows COVID-19 business interruption insurance claims on per-premises basis
The UK High Court of Justice ruled that racecourses and affiliated businesses can pursue business interruption (BI) insurance claims on a per-premises basis for COVID-19-related closures
LA Judge allows legal challenge to $1 bn FAIR Plan assessment to proceed
Los Angeles Superior Court judge has ruled that a lawsuit challenging the California Department of Insurance’s approval of a $1 bn assessment on insurers
Judge approves distribution plan for $318 mn asset sale tied to Greg Lindberg fraud case
A federal judge has approved the distribution of funds from the $318 mn sale of Clanwilliam Group, an Irish software company formerly owned by Greg Lindberg
UnitedHealth confirms DOJ investigations into Medicare practices
UnitedHealth Group has confirmed that the U.S. Department of Justice is conducting both criminal and civil investigations into its Medicare Advantage operations
Lawmakers propose review of FEMA mitigation program’s long-term impact
Three members of Congress—two Democrats and one Republican—have introduced a bill directing the Federal Emergency Management Agency (FEMA) to assess the long-term value
Allianz Life confirms data breach affecting majority of U.S. customers
Allianz Life Insurance Company of North America has confirmed a data breach impacting most of its 1.4 mn U.S. customers
California workers’ compensation rates rise as costs climb, Ricardo Lara warns lawmakers
California Insurance Commissioner Ricardo Lara has approved an 8.7% increase in advisory pure premium rates for workers’ compensation policies renewing on or after September 1
U.S. road fatalities dropped by 6.3% in Q1 2025
U.S. traffic deaths dropped to 8,055 in Q1 2025, down from approximately 8,596 during the same period in 2024. This marks a 6.3% decline and continues a 12-quarter downward
£592 mn cyberattack hits Marks & Spencer and Co-op – Insurance Sector on Alert
The April 2025 cyberattacks on Marks & Spencer and Co-op have officially been classified as a single coordinated insurance incident
Funding reductions and layoffs at the NOAA are drawing serious concern across P&C insurance sector
As the U.S. braces for another intense hurricane and wildfire season, a new concern is emerging—not from environmental threats, but from federal budget decisions
Morningstar forecasts mild U.S. economic slowdown through 2026
The U.S. economy is set for a modest deceleration in the second half of 2025, with consumer spending cooling and trade policy uncertainty weighing on growth
Colorado State University’s hurricane team revised 2025 Atlantic hurricane season outlook
Colorado State University’s hurricane team, one of the most widely cited in the U.S., slightly revised its 2025 Atlantic hurricane season outlook last week—now forecasting 8 hurricanes
New York Court dismisses lawsuit against social media over Buffalo Mass Shooting
A New York appellate court ruled that social media companies cannot be sued for their alleged role in the 2022 racially motivated mass shooting at a Buffalo grocery store
Southwest Airlines Flight maneuvers to avoid midair conflict; two crew members injured
Two Southwest Airlines flight attendants sustained injuries on Friday after a sharp in-flight maneuver prompted by traffic alerts forced a sudden altitude change shortly after departure
Cincinnati Specialty seeks ruling on liability in Kansas City Chiefs’ Super Bowl rally shooting case
A federal court in Missouri will now determine whether Cincinnati Specialty Underwriters Insurance Company must provide coverage in connection with the deadly shooting during the Kansas City Chiefs’ Super Bowl rally
Global credit faces downside risks despite insurance market resilience
Fitch Ratings reports that global credit conditions remain tilted toward downside risk, citing slowing economic growth, volatile U.S. trade policy
Catastrophe bond market hits record $6.5 bn in Q1 2025
Aon reports that Q1 2025 saw $6.5bn in new catastrophe bond issuance, setting a first-quarter record and surpassing the previous high by over $2.6bn.
Cayman insurance market adds 21 new international licenses in H1 2025
The Cayman Islands Monetary Authority (CIMA) approved 21 new international insurer licenses in the first half of 2025, reflecting continued growth in the commercial insurance, reinsurance
PERILS raises insurance industry loss estimate for Windstorm Éowyn to €747 mn
PERILS has increased its third industry loss estimate for extratropical windstorm Éowyn (also referred to as Gilles) to €747mn, up from €696mn in April
FBI and cybersecurity firms warn airlines of Scattered Spider attacks
The FBI and major cybersecurity firms are warning that Scattered Spider, a well-known hacking group, is now targeting the airline and transportation sectors
Max Financial confirms data breach at Axis Max Life Insurance following hacker alert
India’s Max Financial Services has confirmed that its insurance arm, Axis Max Life Insurance, experienced unauthorized access to customer data following a tip-off from an anonymous source
UK motor insurance premiums rise driven by factors beyond insurers’ control
FCA stated that the recent increase in motor insurance premiums results largely from factors outside insurers’ control
European Commission proposes Solvency II reforms to free capital and strengthen stability
The European Commission launched a consultation on draft technical measures under the Solvency II framework, including updates to insurance regulations covering areas
California FAIR Plan exposure surges 42% to $650 bn as wildfire risks rise
The California FAIR Plan’s exposure rose 42% to $650 bn during the nine months ending in June, as more insurers declined to renew or offer policies
Florida approves assumption of up to 228,947 Citizens policies by 7 insurers
The Florida Office of Insurance Regulation approved seven companies to assume up to 228,947 multiperil and wind-only personal residential policies from Citizens Property Insurance
Cargo thefts in the US increased by 27%, with losses estimated at $1 bn+
Cargo theft in the United States reached a record level in 2024, with stolen goods and estimated losses exceeding $1 bn for the first time and rising another 27% in 2025
American International Group appointed John Neal as president
American International Group Inc. appointed John Neal as president, effective Dec. 1. In this role, Neal will oversee AIG’s general insurance organization
Personal insurance litigation in Florida declined ~25% in H1 2025
Personal insurance litigation in Florida declined nearly 25% in the first half of 2025 compared with the same period in 2024, according to the Florida Office of Insurance Regulation
U.S. insurers absorbed 92% of the $84 bn in global NatCat insured losses
U.S. insurers absorbed 92% of the estimated $84 bn in global insured weather- or climate-related losses in the first half of 2025, illustrating the increasing impact of so-called non-peak perils
California Regulator Orders Innovative Partners to Stop Illegal Health Coverage Sales
The California Department of Insurance (CDI) issued a cease-and-desist order to Innovative Partners LP, stating the company operated illegally as an insurance provider
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities