Georgia fines health insurers $25 mn for mental health parity violations
Georgia enforcement follows a multi-year review process, with regulators citing systemic failures in coverage for mental health and substance use care
Insurance News
Illinois homeowners face renewed premium pressure after Allstate files $58 mn hike
A new Allstate rate filing affecting nearly 300,000 households revives debate over insurance oversight, market competition, and the role of state regulators
US auto insurers cut rates nationwide as claims retreat, gaps widen
Auto insurers across the U.S. are cutting vehicle insurance rates after a sharp pullback in claims, a reversal few predicted following years of post-pandemic premium hikes.
Westland Insurance expands Ontario footprint with PV&V acquisition
Westland Insurance has acquired PV&V Insurance Centre Ltd. and Meester Insurance Centre, together operating as PV&V Insurance Centre
War insurance rates spike for Black Sea shipping after tanker drone attacks
Premiums for vessels heading to Russian and Ukrainian ports jump toward 1% of ship value as insurers reassess rapidly escalating risks in the region
INSURICA closes largest acquisition with First Light Program Managers deal
The Florida-based wholesale and delegated underwriting platform strengthens INSURICA’s push into transportation and specialty E&S lines amid a tightening commercial auto market
Commercial property rates fall double digits as capacity floods back
Buyers closed year-end renewals with sharp reductions as reinsurers cut pricing, catastrophe losses stayed muted, and insurers pushed for growth
Amanda Crawford will lead the Texas Department of Insurance
Amanda Crawford will take over leadership of the Texas Department of Insurance next month, stepping in as the state oversees the second-largest insurance market in the U.S.
U.S. Supreme Court leaves Boy Scouts $2.46 bn abuse settlement intact
Court refusal clears path for payouts to survivors while blocking new lawsuits against sponsoring organisations tied to historic abuse claims
Alliant Insurance joins growing wave of lawsuits accusing Howden US of broker poaching
Alliant Insurance Services sued Howden US and three former employees, alleging coordinated resignations, misuse of confidential data, and a broader strategy to strip teams from rival brokers
Vermont drops sexual assault charges against former AIG executive David McElroy
Prosecutors dismissed the case without prejudice, citing the accuser’s inability to participate, leaving the door open for charges to be refiled
Florida Citizens Insurance policyholders to see average 8.7% rate cut as enrollment drops
State-backed insurer posts its largest reduction in a decade, with South Florida homeowners seeing double-digit relief as policies shift back to the private market
Auto insurance premiums in California continue to climb
Auto insurance premiums in California continue to climb, placing the state third nationwide for rate increases despite a broader national slowdown in pricing
Illinois extends enrollment deadline for health plans as subsidy cliff hits
Illinois residents get extra time to enroll through the state marketplace as expired federal subsidies push 2026 premiums sharply higher nationwide
ATA launches $750 mn insurance facility for global AI infrastructure
London-based ATA unveiled a $750 mn insurance facility backed by top reinsurers to cover large-scale AI and data center projects worldwide
Zurich Insurance Asia Pacific launches Edge Assist to boost digital insurance
Zurich Insurance Asia Pacific debuts Edge Assist, a unified digital platform enhancing sales, service, and claims for agents and customers across markets
Australia storms across Queensland and New South Wales cause A$2.7 bn insured loss – PERILS
PERILS estimates A$2.663 bn insured losses from late November storms in Queensland and NSW, driven by extreme hail and wind damage
Ohio court revives worker’s bid for added insurance and comp benefits
An Ohio appeals court says a juvenile corrections officer showed enough evidence to try claims that a work injury worsened prior conditions
Erste Group sells €10 bn SRT to insurers to fund Santander Poland deal
Erste Group transfers risk on €10bn of loans to insurers, freeing capital as it closes a €7bn stake purchase in Santander Bank Polska
North Carolina’s insurance commissioner urges Trump not to pardon Greg Lindberg
North Carolina’s insurance commissioner presses the White House to reject a pardon for Greg Lindberg as GOP senators back opposition
Florida insurance broker gets 35 months for $134 mn ACA enrollment fraud
A federal judge sentenced a Pembroke Pines insurance broker to nearly three years in prison for a $134mn Affordable Care Act fraud scheme
California pushes AI rules despite Trump threats and tech pressure
California lawmakers press ahead with AI regulation despite Trump’s funding threat, as tech giants warn rules could drive companies out
Drone attack hits Russia-bound tanker in Black Sea, shipping insurance rates are expected to rise
A Palau-flagged tanker bound for Russia reported a drone attack in the Black Sea and diverted to Turkey
Los Angeles wildfires drive $22.4 bn in claims as insurance losses mount
California insurers have paid $22.4 bn on wildfire claims, with insured losses projected up to $40 bn as rate hikes and regulatory battles intensify
New Jersey prosecutors charge four over $250k travel insurance fraud
New Jersey prosecutors indicted four people accused of filing fake travel insurance claims tied to trips and medical emergencies that never happened
Howden buys Atlantic Group in $500 mn US M&A insurance push
Howden agreed to acquire Atlantic Group for over $500 mn, strengthening its US M&A insurance business and expanding reach with private equity clients
USI sees property insurance rates sliding as casualty pricing steadies
USI projects property insurance rates down as much as 20%, while casualty lines stay flat to modestly higher into early 2026
Tennessee Appeals Board backs denial of added workers’ comp benefits
Tennessee’s Workers’ Compensation Appeals Board upheld a ruling denying extra medical and disability benefits after a 2022 workplace fall
AIG names Eric Andersen as CEO-elect as Peter Zaffino exits role
AIG says CEO Peter Zaffino will retire by midyear, handing leadership to Aon veteran Eric Andersen as shares slide on investor uncertainty
Hong Kong Insurance Authority reviews RBC rules, weighing stablecoin, crypto capital
Hong Kong’s insurance regulator is reviewing its RBC regime, including capital treatment for stablecoins and crypto assets, to boost competitiveness
Aflac to notify 22.7 mn insurance customers after June cyber incident – Case study
Aflac has completed a review of files tied to a June cybersecurity incident and has begun notifying roughly 22.65 mn affected individuals
Allstate plans fresh Illinois home insurance rate hikes up to 10.4% in 2026
Allstate seeks new homeowners rate increases in Illinois, citing weather losses and repair costs, with some policyholders facing hikes above 10%
Warren Buffett stepped down as Berkshire Hathaway CEO after reshaping insurance
Warren Buffett retires as Berkshire Hathaway CEO, closing a decades-long run that turned a small insurer into a $1 tn powerhouse
Beneva completes Gore Mutual merger after regulatory approval
Beneva finalises its merger with Gore Mutual after regulatory approval, advancing its national expansion and reshaping its Ontario P&C operations
New York Court tosses $410 mn art insurance suit after fire damage
New York Supreme Court dismisses collectors’ $410 mn claim over alleged fire damage to major artworks; appeal is now pending
MetLife Investment Management closes PineBridge acquisition
MetLife Investment Management completes its PineBridge deal, lifting combined AUM to $734.7 bn and extending its global asset management reach.
Freedom Underwriters moves to buy full stake in Concert Group
Freedom Underwriters agrees to acquire all outstanding Concert Group shares, with closing expected in H1 2026 pending regulatory approval
Radian funds Inigo deal with $600 mn intercompany note
Radian Group issues a $600 mn intercompany note to finance its $1.7 bn acquisition of Lloyd’s insurer Inigo, with added regulatory oversight
Largest insurers in Asia-Pacific increased capitalizations
5 of the 20 largest insurers in Asia-Pacific saw their market capitalizations increase sequentially in Q2 2024
AM Best maintained stable outlook on Japan’s life insurance market
AM Best has maintained its stable outlook on Japan’s life insurance market segment, citing in part the prospects for higher premium income
Coalition warns 2026 cyber risk shifts toward systemic loss
Coalition executives say 2026 cyber risk will be driven by hidden interdependencies, cloud outages, and supply chain aggregation, not isolated breaches
New Georgia laws reshape courts and health insurance
New Georgia laws taking effect Jan 1, 2026 change court rules, election oversight, insurance notices, healthcare governance, and vehicle registration
SiriusPoint unit IMG to buy Assist America in travel assistance deal
SiriusPoint says IMG will acquire Assist America, adding $20mn in assistance revenue and expanding U.S., Asia, and Middle East coverage
Verisk CargoNet warns of holiday cargo theft spike through Jan. 2
Verisk CargoNet flags elevated cargo theft risk from Dec. 23 to Jan. 2, citing an 82% rise in holiday incidents over five years
Howden US blames Brown & Brown culture for mass employee exits
Howden US pushes back against Brown & Brown’s injunction bid, arguing employee departures stemmed from poor management, pay, and culture
Italy fines Ryanair €256 mn over alleged abuse of travel agencies
Italy’s antitrust authority fines Ryanair €256mn, accusing the airline of blocking agency bookings and restricting competition. Ryanair plans to appeal.
Coupang to pay $1.17 bn after data breach hits 34 mn users
Coupang announces ₩1.69trn ($1.17bn) compensation plan for 34mn users affected by a major data breach, offering purchase vouchers from Jan. 15
Tata Steel Netherlands faces $1.6 bn collective action over emissions
Dutch NGO files WAMCA claim seeking $1.6bn from Tata Steel Nederland over alleged health, environmental, and property impacts near IJmuiden
Louisiana insurance market softens, but homeowners still feel squeezed
Louisiana agents say availability and pricing are improving as the market softens, yet many homeowners report property insurance premiums remain high.
Ohio House Bill 636 would force OEM parts option into auto insurance policies
Ohio lawmakers propose HB 636, requiring insurers to offer OEM parts options and disclose non-OEM use in auto repair estimates
ACA subsidy cliff could double exchange premiums for Kentuckians
Enhanced ACA tax credits expire in days, pushing 2026 exchange premiums sharply higher for Kentuckians and raising fears of coverage losses
States scramble to limit health insurance premium hikes after ACA subsidy lapse
At least a dozen states are acting to curb health insurance premium increases after Congress let enhanced ACA subsidies expire, leaving millions facing higher costs.
Colorado’s soaring home insurance premiums add new strain to housing affordability
Rising homeowners insurance premiums are becoming a significant new pressure point for Colorado’s already strained housing market, reshaping affordability calculations
Oklahoma insurance proposals spark backlash over lawsuit limits
Oklahoma regulators unveiled insurance proposals critics say dodge premium spikes and tilt the system against policyholders seeking legal relief
Nevada allows wildfire exclusions, reshaping home insurance risk
Nevada will allow insurers to exclude wildfire coverage from homeowners policies in 2026, signaling deeper risk segmentation in property insurance
Title insurance compliance tightens as FinCEN rules loom in 2026
FinCEN AML rules, rate pressure, and state scrutiny reshaped title insurance compliance in 2025, forcing firms to prepare for sweeping change
Atmospheric rivers raise California flood risk as insurance gaps grow
Climate change is intensifying California’s atmospheric rivers, increasing flood and mudslide risk while most homeowners lack flood insurance
China’s non-life insurance sector maintained strong financial stability in Q1 2025
Fitch Ratings reports that China’s non-life insurance sector maintained strong financial stability during the first quarter of 2025
Court voids residential exclusion in New York fire excess insurance coverage case
Federal court orders excess insurer to cover Manhattan fire losses, ruling a residential exclusion created illusory coverage due to mutual mistake
Globe Life launches Bermuda reinsurer Globe Life Re for affiliate business
Globe Life forms and licenses Globe Life Re in Bermuda to assume affiliated quota share reinsurance under arm’s-length arrangements
Discover how a secondary reinsurance market could improve capital efficiency, lower WACC, boost underwriting flexibility and support more efficient pricing
Global reinsurance pricing fell more than expected at Jan. 1, 2026 renewals, with abundant capital, weak catastrophe support, and easing terms
Reinsurance rates in several lines softened quicker than anyone expected this year, especially in casualty and cyber, yet trading conditions across the Lloyd’s market still look reasonably favorable
Re/insurance industry is showing strong momentum. Fund and Insure domain as the big opportunity—potentially generating $17 tn in gross value by 2035