New York auto insurance reforms may cut premiums
New York’s budget reforms target auto insurance fraud, insurer practices, and consumer protections, with possible annual savings of $200 to $300
Insurance News
California insurance commissioner race puts Kim and Allen ahead
Jane Kim and Ben Allen lead California’s insurance commissioner race, with Stacy Korsgaden close behind as wildfire coverage pressures shape voter priorities
Colorado hail roof grants target home insurance costs
Colorado’s SB26-155 creates a homeowner insurance enterprise to fund resilient roofs, reduce hail losses, and support competition in wildfire-prone markets
EIOPA warns European insurers on private credit risk controls
European insurers are moving deeper into private credit, but EIOPA says firms need stronger risk models, valuation discipline, and liquidity controls
Allianz in talks to buy Portuguese insurer Caravela Seguros
Allianz is discussing a potential acquisition of Caravela Seguros, a deal that would expand its Portuguese non-life insurance portfolio
Howard Hughes buys Vantage in $2.1 bn insurance deal
Howard Hughes closes its $2.1 bn acquisition of Vantage, using the specialty re/insurer to shift toward a Berkshire-style holding company model
Cyber insurance claims quality matters more than policy wording
Cyber insurance claims capability determines recovery speed, loss control, and broker confidence when ransomware, data theft, or network outages hit clients
U.S. House lawmakers propose federal AI model rules over state controls
Draft U.S. AI legislation would block state rules on model development, drawing support from tech firms and criticism from consumer advocacy groups
Global life insurance consolidation to keep pace in 2026
Fitch expects global life insurance consolidation to continue as insurers reshape balance sheets, with Germany, the UK, the US, and Japan driving deal activity
Private credit shock would hit European insurers and pension funds hardest
ECB stress exercise finds European insurers and pension funds face heavier private credit losses than banks, due to larger exposures and market revaluations
El Niño may weaken Atlantic hurricane season risks
El Niño points to a quieter Atlantic hurricane season, though NOAA and forecasters warn hurricanes still bring major U.S., Caribbean, and insured-loss risks
AI malpractice claims rise as law firm insurers track $100 mn losses
EPIC says AI-related legal malpractice claims are now real, as insurers also report higher frequency, severity, and nine-figure losses
DB Insurance set to close $1.65 bn Fortegra acquisition deal
DB Insurance is expected to complete its $1.65 bn cash acquisition of Fortegra on May 29, with Tiptree confirming the deal remains on track
Insurance Council of Australia urges CSLR reform to avoid cross-sector levies
The Insurance Council of Australia says CSLR reforms should target claim cost drivers, limit compensation, and keep general insurance excluded
Egypt starts Eid al-Adha medical insurance and emergency plan across
Egypt launched a nationwide Eid al-Adha medical plan, adding hospital readiness, ambulances, blood stocks, mobile clinics, and emergency monitoring
Pennsylvania AG reaches GEICO deal over AI-linked policy review
Pennsylvania’s attorney general reached an agreement with GEICO after a policyholder lost auto coverage following an AI-linked review
Iowa cancer screening law removes prior authorization for some health insurance plans
Iowa’s Patients First Act lets doctors order cancer screenings without prior authorization, but the change applies to about 829,000 residents
US-Iran ceasefire strains marine war risk cover after Hormuz strikes
Fresh U.S. strikes near Bandar Abbas deepen uncertainty for marine insurers as Hormuz war risk pricing remains far above pre-war levels.
Vienna Insurance Group completes NÜRNBERGER acquisition in Germany
Vienna Insurance Group completed its largest acquisition, taking 99.2% of NÜRNBERGER to expand in Germany and support CEE growth
Quantum Bridge raises $8 mn to build quantum-safe cybersecurity
Quantum Bridge raised $8 mn in Series A funding to expand its DSKE protocol and help organizations move toward quantum-safe security
New York DFS issues cyber threat guidance for banks, insurers, and financial firms
New York DFS issued guidance for banks, insurers, and financial firms on cybersecurity steps during heightened threat environments
AI power demand puts tech climate pledges under investor pressure
Shareholders are pressing Amazon, Meta, and Alphabet to explain how rising AI data center power demand fits with their climate goals
US P&C insurers post strongest Q1 underwriting result in 25 years
S&P Global Market Intelligence says U.S. P/C insurers posted an 89.5 combined ratio and $22.1 bn underwriting gain in Q1 2026
Howden US faces WTW lawsuit over yacht insurance team hires
WTW Northeast sued Howden US and former marine brokers, alleging client solicitation, loyalty breaches, and restrictive covenant violations
Acrisure to cut 2,250 jobs by 2027 as AI reshapes operations
Acrisure CEO Greg Williams told employees the broker will cut about 11% of staff as it expands AI, automation, and digital platforms
PIMCO and L&G face claims over Brussels tower valuation dispute
Finance Tower’s owner alleges lenders pressured valuers to cut the Brussels skyscraper’s value below €950 mn amid a debt and insolvency dispute
Minnesota reinsurance waiver fight looms as commerce leaders exit
Minnesota must reapply for its health reinsurance waiver in 2026 as senior commerce lawmakers leave and premiums face renewed pressure
Florida property insurers may see lower June reinsurance costs after reforms
AM Best expects softer June 2026 reinsurance renewals for Florida property insurers as litigation reforms and better results support capacity
Everest to sell Colombia insurance unit to AIG in portfolio shift
Everest agreed to sell its Colombia general insurance business to AIG as it narrows focus to global reinsurance and wholesale specialty insurance
Workplace homicide rates stay flat as national murders rise 35%
NCCI says workplace homicides stayed near 400 to 500 cases a year from 2011 to 2024, led by risks in sales, transport, and public-facing jobs
North Carolina homeowners face 7.5% insurance rate hike in June
North Carolina homeowners insurance rates will rise 7.5% on June 1 after regulators rejected an industry request for a 42% increase
New York budget bars ICE pacts and rewrites auto insurance rate rules
New York’s PPGG budget bill restricts local ICE cooperation, sets police mask rules, and changes auto insurance rating and approval rules
Washington wildfire town hall spotlights home insurance coverage gaps
Washington officials discussed wildfire recovery, insurance losses, underinsurance, risk scores, and retrofit grants after the 2023 Gray fire
US home insurance premiums more than double as 2025 rate hikes slow
Rate Insurance says U.S. home insurance premiums rose 107.6% since 2019, though annual growth slowed to 9.16% in 2025
Nevada utility seeks customer funding for wildfire insurance plan
NV Energy has added $250 mn in wildfire coverage but still wants Nevada ratepayers to help fund a $500 mn self-insurance policy
Reduced health insurance payments for hospital births changed U.S. sterilization rates
A new study says shorter postpartum hospital stays in the 1990s reduced U.S. female sterilization rates more than 1970s consent reforms
California FAIR Plan customers will face the insurer’s largest rate increase
California FAIR Plan premiums will rise after Oct. 15, with wildfire-risk areas facing larger increases and some ZIP codes seeing decreases
Florida home insurance premiums rise 75% as weather risks mount
Florida homeowners insurance premiums rose 75% from 2021 to 2025, nearly twice the U.S. average, as weather risk and reinsurance costs strain the market
California FAIR Plan raises home insurance rates 29% in October
California’s FAIR Plan will raise rates 29.1% for some homeowners as wildfire exposure, policy counts, and insurer pullbacks strain the market
California governor candidates focus on housing and insurance costs
California governor candidates are pitching plans on housing costs, home insurance, rebuilding, rent caps, and homelessness before the June primary
Providence exits most health insurance businesses for 2027
Providence will stop offering Medicaid, ACA, and employer health plans in 2027 as rising costs and regulation strain its insurance unit
Cyber insurance penetration among North American SMBs and SMEs remains low
55% of small and medium-sized businesses in North America lack basic email security protections. KYND found major cyber hygiene gaps among SMBs and SMEs
CFP Board urges NAIC to replace annuity sales model rule
CFP Board asked the NAIC to restart its annuity rule work, saying Model Regulation #275 lacks fiduciary duties and conflict controls
Fortegra backs insurtech Incept title insurance platform for UK property deals
Incept signed an underwriting deal with Fortegra for its UK title insurance platform, using Land Registry data to issue policies in seconds
Florida homeowners drop coverage as hurricane insurance costs rise
South Florida homeowners face high insurance costs before hurricane season, with some choosing to self-insure despite flood and wind risks
Thomas Stoddard elected to the AIG Board of Directors as an independent Director
American International Group announced that Thomas (Tom) Stoddard has been elected to its Board of Directors as an independent Director
D&O insurance premiums stabilized in 2026, average limits increased to $66 mn
Baldwin and Nasdaq say D&O premiums stabilized in 2026, with most companies seeing flat pricing or moderate decreases after 2022 high
Insurance digital satisfaction falls as online policy sales grow
JD Power says 47% of new auto and home policies are bought digitally, but insurer website and app satisfaction declined in 2026
US mortgage rates edge lower as spring home sales stay weak in 2026
Freddie Mac says the 30-year mortgage rate slipped to 6.36%, while higher Treasury yields and weak affordability keep U.S. home sales muted
Annuity sales rule guidance divides insurers and CFP Board
Insurance trade groups and the CFP Board split over NAIC guidance tied to best-interest annuity sales supervision and compliance
Trump administration withholds $1.3 bn in Medicaid funds from California
The Trump administration will withhold $1.3 bn in Medicaid payments from California and audit state fraud units over program oversight
Freight brokers face new insurance gap after Supreme Court ruling
The Supreme Court ruling opens freight brokers to negligent carrier selection claims, exposing gaps in surety bonds and contingent auto coverage
US auto insurance shopping cools as policy growth slows in Q1 2026
LexisNexis says US auto insurance shopping rose 3.2% in Q1 2026, while new policy growth slowed to 3.6% after hotter activity
Neptune Insurance prices secondary stock offering and planned share buyback
Neptune Insurance Holdings, the parent company of Neptune Flood Incorporated, has priced a public offering of 9,841,395 shares of Class A common stock
Colorado passes hail roof grant plan to cut home insurance costs
Colorado lawmakers passed SB155 to fund hail-resistant roof grants through a 0.5% fee on homeowners insurance plans
Illinois Senate passes auto insurance rate notice Bill 714 for drivers
Illinois Senate Bill 714 would require notice before auto premium increases above 10% and give regulators more rate oversight
Utah prosecutors seek $1.4 mn life insurance repayment from Kouri Richins
Utah prosecutors want convicted murderer Kouri Richins to repay $1.39 mn in life insurance benefits paid after her husband’s fentanyl death
Delaware Medicare birthday rule expands Medigap switch rights
Delaware’s SB 71 gives Medigap policyholders a birthday enrollment window and adds protections for Medicare Advantage exits
Louisiana arrests six in long-running fire and water insurance claim fraud case
Louisiana officials arrested six Ouachita Parish residents over an alleged fire and water damage insurance fraud scheme spanning nearly a decade
Howden buys Cybeta IP assets to expand US cyber insurance unit
Howden acquired Cybeta’s IP assets and cyber analytics talent to strengthen its US cyber insurance practice across underwriting and claims
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
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
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
Digital-asset adoption keeps rising and so do the risks tied to holding or moving value online. Insurers now face new pressure to design products that respond to crypto-specific threats