Insurance Australia Group settles A$2.8 bn Credit Suisse claims over Greensill
IAG agreed to settle A$2.8 bn in Credit Suisse claims linked to Greensill insurance policies, with no material impact expected on FY2027 results
Insurance News
Insurer PZU is examining an alternative restructuring with Bank Pekao
Poland is examining a new structure for PZU and Bank Pekao after legal changes needed for their planned merger ran into presidential veto risk
NAIC tightens oversight of private credit and insurer investments
NAIC details tougher oversight of private credit, insurer investments, ratings and reinsurance as regulators respond to more complex life insurance assets
Centers for Medicare & Medicaid Services cancels ACA coverage for 760K people
CMS canceled 315,000 ACA Marketplace enrollments covering 760,000 people and froze new broker registrations as part of a federal anti-fraud review
Airport strikes across Australia test travel insurance exclusions
Airport strikes across Australia put travel insurance exclusions under scrutiny as policy timing determines cover for delays, cancellations and extra costs
Offshore energy insurance premiums hit $4.8 bn as margins tighten
Global offshore energy insurance premiums reached $4.8 bn in 2025 as excess capacity, rising attritional claims and renewables pressure margins
Florida homeowners insurance rates fall as more insurers seek cuts
Florida homeowners insurance rates are easing as regulators approve cuts, more insurers enter the market and premiums decline across 51 counties
Colorado health insurance premiums to rise 10-14% in 2027
Colorado approved 2027 health insurance increases averaging 10% for individual plans and 14% for small groups, with Grand Junction up 15.5%
Relation Insurance acquires Pennsylvania-based LaPlaca Insurance
Relation Insurance acquired LaPlaca Insurance, adding a Pennsylvania agency serving commercial, employee benefits and personal lines clients
Hawaii urges insurance checks as Hurricane Nolo approaches
Hawaii regulators urge residents to review hurricane, flood, renters and auto insurance as Hurricane Nolo approaches the islands
IRDAI proposes insurance distribution overhaul and lower expense caps
IRDAI proposes new insurance distribution rules covering commissions, lower EoM limits, mis-selling controls and a simpler three-tier structure
Saudi Arabia approved war-risk insurance pool for cargo and vessels
Saudi Arabia approved a national marine war-risk insurance pool led by Saudi Re to protect cargo, vessels and trade during geopolitical disruption
Tesla Insurance blocked in New York over Tesla-only auto coverage
New York regulators rejected Tesla General Insurance’s auto filing over Tesla-only eligibility, delaying the company’s insurance launch in the state
NJ Gov. Mikie Sherrill urges Lt. Gov. Dale Caldwell to resign over harassment probe
New Jersey Gov. Mikie Sherrill called on Lt. Gov. Dale Caldwell to resign after an investigation substantiated sexual harassment and ethics violations
LexisNexis and IMS bring on-device telematics to US insurers
LexisNexis and IMS integrated Drive Metrics with EdgeSDK, bringing on-device driving scores and lower-cost UBI infrastructure to US auto insurers
Washington proposes 4.9% workers’ comp insurance rate increase for 2027
Washington L&I proposed a 4.9% workers’ compensation rate increase for 2027, adding about $1.44 a week per full-time employee on average
Hurricane watch issued for Hawaii as Tropical Storm Nolo strengthens
Hawaii’s Big Island is under a hurricane watch as Tropical Storm Nolo strengthens, with up to 35 inches of rain and major flooding possible
Louisiana invests $100 mn in fortified roofs to reduce home insurance costs
Louisiana added $20 mn in federal funding for fortified roofs, bringing 2026 investment to $100 mn across programs aimed at storm damage reduction
Florida farm manager admits $3.25 mn crop insurance fraud
Florida farm manager Mark Frisbie agreed to plead guilty in a crop insurance fraud case and pay more than $3.25 mn in federal restitution
76% of New Zealand mid-sized firms faced cyber threats
NCSC research finds 43% of New Zealand SMEs feel vulnerable to cyber attacks, while 76% of firms with 20-49 staff faced threats or attacks.
New Zealand warns frontier AI will accelerate cyber threats by 2027
New Zealand’s NCSC says frontier AI is increasing cyber risk as serious incidents rise and criminals adopt AI for phishing, scams and reconnaissance
Truro Bonfire Night cancellation puts event insurance costs in focus
Truro cancelled its Bonfire Night for a second year as security, crowd controls and event costs made a 5,000-person fireworks display unaffordable
Admiral plans 500 UK insurance job cuts in £100 mn savings push
Admiral plans to cut about 500 UK insurance jobs, or 5% of its workforce, as the Cardiff insurer pursues £100m in annual cost savings
Social Security tax-only fix raises US worker costs by thousands as 2032 approaches
A tax-only Social Security fix would lift the combined payroll rate above 16%, increasing annual costs for workers and employers as 2032 approaches
Jonathan Taylor Thomas arrested after Westlake Village DUI stop
Jonathan Taylor Thomas was arrested during a Westlake Village DUI stop after deputies accused him of obstruction and public intoxication
Social Security faces 26% benefit cut under new CBO forecast
CBO projects Social Security’s retirement fund will run dry in 2032, leaving payroll revenue sufficient for only 74% of scheduled benefits
Social Security tax-only fix would raise payroll rate near 17%
A tax-only Social Security fix would lift the payroll rate from 12.4% to about 17%, adding $2,600 to $3,000 yearly for a median worker
California sets wildfire smoke damage rules for home insurers
California approved new wildfire smoke-damage rules covering insurer testing, remediation and mortgage relief after more than 13,000 claims
California insurers pledge new policies as FAIR Plan stays near 697,000
California insurers have committed to new policies under catastrophe-model rules, while FAIR Plan enrollment remains near 697,000 amid a dispute over progress
ACA broker freeze adds pressure as workers shift to employer health insurance
CMS canceled enrollments covering 760,000 people and froze new ACA broker registrations as higher Marketplace costs shift more workers toward employer plans
Cannabis insurance bill seeks to expand US insurer participation
The CLAIM Act would protect insurers serving legal cannabis businesses as non-admitted coverage and limited capacity still dominate the US market
Florida approves home insurance rate cuts ~7% for 62,000 policies
Florida approved homeowner rate cuts averaging 7% for 62,000 policies as insurers file more decreases and Citizens continues shrinking
New York opens AI office as Gov. Kathy Hochul weighs AI kill switch
New York appointed Marc Gilman to oversee RAISE Act compliance as Gov. Kathy Hochul considers additional safeguards for frontier AI developers
Europe to spend €500 bn on climate adaptation through 2035
Europe is expected to spend €500 bn on climate adaptation and disaster recovery through 2035 as extreme weather drives long-term investment
Cyber insurance adoption reaches record 70% as AI risks grow – Travelers
Travelers found 58% of US businesses worry about cyber risk, while AI adoption outpaces governance and cyber insurance use reaches a record 70%
Hurricane Polo pressure puts Mexico catastrophe bond in focus
Hurricane Polo reached 180 mph winds and 892 mb pressure, putting pressure triggers on Mexico’s $175 mn Pacific hurricane catastrophe bond under scrutiny
Toyota estimates $6.4 bn annual robot spending from 2028
Toyota estimates factory automation could require 400,000 robots and about $6.4 bn in annual spending from 2028 across its plants and suppliers
Aon names Jane Drummond global chief commercial officer
Aon appointed Jane Drummond global chief commercial officer from Jan. 1, 2027, succeeding Anne Corona and joining the firm’s executive committee
Kraft Heinz sues Chubb, Liberty Mutual over UPF insurance coverage
Kraft Heinz sued Chubb and Liberty Mutual over denied coverage for lawsuits linking ultra-processed foods to diabetes, liver disease and public health costs
Luzern Risk raises $45 mn for AI captive insurance platform
Luzern Risk raises a $45 mn Series B led by Insight Partners to expand its AI-native captive insurance platform and alternative risk services
Cozmo AI launches claims automation platform for P&C insurance claims
Cozmo AI launches a claims automation platform for restoration networks and TPAs, covering FNOL, estimating, documentation and invoice settlement
David Jolly and Byron Donalds outline Florida property insurance plans
David Jolly and Byron Donalds propose different Florida property insurance reforms covering hurricane risk, Citizens, litigation and insurer transparency
Specialty MGA Nirvana appoints Kevin Kettrick as Cyber Lead London
Nirvana names Kevin Kettrick as Cyber Lead London to expand its standalone cyber offering, starting with excess cover before adding a primary product
Severe Caribbean hurricanes rise 94% over the past decade – Atrium research
Atrium research finds Category 3-5 Caribbean hurricanes rose 94% in a decade, increasing property losses and insurance exposure across tourism markets
McLarens names Ollie Waterman Middle East regional director
McLarens appoints Ollie Waterman as Middle East regional director from October 2026, succeeding Malcolm Addy as the loss adjuster expands across the GCC
Lockton raises nearly $900K for Move United Warfighters
Lockton’s 11th annual Warfighters Charity Challenge raised nearly $900,000 to fund adaptive sports programs for wounded U.S. veterans
Public adjuster coalition creates US professional conduct code
More than 16 public adjusters, insurance lawyers and industry professionals establish a national code of conduct for public adjusting in the US
Emily Schaffer joins Huntington T. Block as senior vice president
Huntington T. Block appoints Emily Schaffer senior vice president of fine art insurance, adding more than 15 years of specialty brokerage experience
ShinyHunters claims FBI breach exposed employee and applicant data
ShinyHunters claims it breached FBI systems and stole data on agents and job applicants, as the FBI investigates activity affecting FBIjobs.gov
Hanwha Finance deepens Abu Dhabi ties through digital asset partnerships
Hanwha Finance expands cooperation with Abu Dhabi across digital assets, stablecoins, payments and financial infrastructure under its Digital Asset Silk Road plan
PIA New York re-elects Jason Bartow president and names 2026-27 officers
PIA New York re-elects Jason Bartow as president for 2026-27 and names new officers across its executive leadership team
Fitch affirms MetLife ratings with stable outlook amid strong earnings
Fitch affirms MetLife’s AA- insurer financial strength ratings and A issuer rating, citing capital, earnings, market position and lower liability risk
Skyline Public Adjusters appoints Joseph Hansen VP of strategic accounts
Skyline names Joseph W. Hansen VP of strategic accounts, expanding his role across client relationships, first-party claims and large property losses
SiriusPoint appoints Rachel Winoski as chief HR officer
SiriusPoint names Rachel Winoski chief HR officer from Oct. 5, 2026, adding the former AXA XL executive to its leadership team
Florida hurricane losses could exceed $300 bn as coastal exposure grows
A Category 5 hurricane hitting Miami or Tampa Bay could cause insured losses above $300 bn as Florida’s population and property exposure keeps rising
Cigna sued over out-of-network addiction treatment payments
Ten addiction treatment providers accuse Cigna of paying 16.42% of covered charges while collecting fees tied to claim reductions
Insurers face higher catastrophe risk as Pacific typhoon activity rises
Northwest Pacific typhoon activity is forecast 60% above average in 2026, raising catastrophe exposure across China, Japan, the Philippines and Vietnam
Eastward tornado Alley shift raises insured loss risk in US Midwest
Record tornado activity in Illinois, Indiana and Wisconsin is increasing insured loss exposure as severe storms shift toward more populated US regions
Healthcare cyberattacks rise as hospitals face ransomware risks (The Case of Luminis Health)
Healthcare remained the top US critical infrastructure ransomware target in 2025 as a cyberattack disrupted systems at Maryland’s Luminis Health
Hurricane Lowell may cause up to $1 bn in Hawaii damage
Hurricane Lowell passed west of Hawaii, bringing heavy rain and surf, with estimated damage of $600 mn and potential losses reaching $1 bn
Global insurance-linked securities market reached $145 bn in 2026, supported by record catastrophe bond issuance, 12.5% investor returns and expanding reinsurance sidecars
Insurance regulators in the US, UK and Japan are strengthening oversight of asset-intensive reinsurance, targeting counterparty credit risk, recapture reserve adequacy
Verisk raised its global insured catastrophe loss benchmark to $171 bn, with the US accounting for $117 bn and severe thunderstorms leading modeled risk
RiskScan 2026 reveals how cyber, climate, AI, inflation and business interruption are converging to reshape insurance priorities and risk management