Slate Auto raises $650 mn to push low-cost electric truck into production
Slate Auto secured $650 mn in Series C funding to support production of its affordable electric pickup, with first deliveries targeted for late 2026
🇺🇸 US Insurance News
Sophia Space teams with Kepler to build in-orbit compute network
Sophia Space signed a commercial deal with Kepler Communications to connect orbital compute nodes, while pushing ahead with its in-orbit data centre platform after a $10 mn seed round
Critical Loop raises $26 mn to cut grid connection delays for US sites
Critical Loop secured $26 mn, bringing committed capital to $49 mn, to speed power access for US industrial sites with modular microgrid systems
Kulipa raises $6.2 mn to scale stablecoin card issuing infrastructure
Paris-based Kulipa raised $6.2mn in seed funding to expand stablecoin-funded card issuing across regulated markets in Europe, Africa and the US
Certiv raises $4.2 mn to secure autonomous AI agents on employee devices
Seattle-based Certiv emerged from stealth with $4.2 mn in pre-seed funding to build endpoint security controls for autonomous AI agents in enterprise settings
Cybertech Surf launches with $57 mn to push AI-led preventive cybersecurity
New York-based Surf emerged from stealth with $57 mn in funding to automate security hygiene and remediate enterprise risks with agentic AI
Conduit Health raises $17 mn to expand AI platform for insurance-covered medical supplies
Conduit Health secured $17 mn in Series A funding to grow its AI platform for Medicare and Medicaid patients needing insurance-covered medical supplie
Polymarket buys DeFi startup Brahma to simplify crypto prediction markets
Polymarket acquired Brahma to improve wallet flows, liquidity, and DeFi infrastructure as it pushes for a simpler prediction market experience
Yuzu Health raises $35 mn in Series A to rebuild health insurance infrastructure
Yuzu Health secured $35 mn in Series A funding to expand its health plan platform, automate back-office workflows, and scale modern insurance operations nationwide
S&P Global closes Enertel AI deal to deepen North American power forecasts
S&P Global completed its acquisition of Enertel AI, adding short-term AI-driven power price forecasting to its long-term energy market analytics
Startup Deeptune raises $43 mn led by a16z to build virtual training grounds for AI agents
New York-based Deeptune secured $43 mn in Series A funding to expand simulation-based training for AI agents as the industry searches for new data sources
Blossom Health raises $20 mn to expand AI-led psychiatry care
Blossom Health secured $20 mn in seed and Series A funding to expand its AI-native telepsychiatry platform, insurer ties, and clinician network across the US
How businesses can reduce cyber risk and limit digital loss
Businesses face higher cyber risk from breaches, outages, and human error. Strong backups, staff training, the right tools, insurance, and response plans help
Frank Carone associates charged in alleged no-fault insurance fraud case
Federal prosecutors charged three associates of Frank Carone in an alleged no-fault insurance fraud scheme, while Carone said he and his firm were victims too
Judge lets insurer payment-fixing case against Zelis and major health insurers move ahead
A federal judge allowed providers’ antitrust case against Zelis, Aetna, Cigna, Elevance, Humana, and UnitedHealth to proceed over out-of-network payment claims
Hartford Insurance to pay $100 mn in Baltimore archdiocese abuse bankruptcy
Hartford agreed to contribute $100 mn toward clergy abuse survivor claims in the Baltimore archdiocese bankruptcy, pending court approval of a reorganization plan
Special master backs $1.6 bn restitution for Greg Lindberg insurance fraud victims
A court-appointed special master recommended about $1.6 bn in restitution for victims tied to Greg Lindberg’s insurance fraud, narrowing who qualifies for payment
Illinois pushes auto insurance overhaul amid rising premiums
Illinois lawmakers are weighing insurance reforms aimed at rate oversight, fairer pricing, and stronger consumer protections as auto coverage costs climb
Healthcare insurance costs move back to the top of US voter concerns
Rising medical costs and higher insurance premiums pushed healthcare back to the top of US domestic concerns, with affordability now outpacing the economy
Brittni Mealy says Future ignored court-ordered $500,000 life insurance policy
Brittni Mealy asked a Georgia court to hold Future in contempt, alleging he failed to secure a $500,000 life insurance policy for their son Prince
Missouri court backs Mount Vernon in $875,000 church fire insurance claim dispute
A Missouri federal court ruled Mount Vernon owed no more than $875,000 on a $2.5 mn church fire policy after the insured failed to support its claim under the policy terms
Minnesota home insurance premiums jumped 34% in a year
Minnesota posted the biggest rise in US homeowner insurance premiums, with costs up 34% as severe weather, repair expenses, and aging homes pushed rates higher
Medicare Advantage insurers get bigger 2027 rate lift after CMS revision
CMS raised 2027 Medicare Advantage payments by 2.48% on average, with risk-model changes pushing the total increase near 5% and insurer shares jumping
DFC and Chubb expand Hormuz maritime insurance facility to $40 bn
DFC and Chubb added six US insurance partners, doubling maritime reinsurance capacity to $40 bn to support trade through the Strait of Hormuz
Farmers Insurance targets 1,700 new agency owners in major distribution push
Farmers plans to add nearly 1,700 agency owners, launch an Elite program for well-capitalized recruits, and expand growth across underrepresented markets
Georgia bill would let property owners sue over local enforcement failures
Georgia lawmakers passed a bill allowing property owners to seek damages from local governments over alleged failures to enforce camping and immigration rules
Texas insurance investigator helped trace suspect in $400 mn Medicare fraud case
A Texas insurance investigator and analyst helped identify and track a Russian national accused of filing $400 mn in fake Medicare claims
NHTSA closes Tesla Smart Summon probe after low-speed crash review
NHTSA closed its probe into Tesla’s Smart Summon feature after finding about 100 low-speed crashes caused minor property damage and no injuries
Deere agrees $99 mn settlement in farm equipment repair case
Deere agreed to a $99 mn settlement over repair access claims and said it will provide digital repair tools for large farm equipment for 10 years
Jones Day data breach exposed files tied to 10 client matters
Jones Day said a phishing attack exposed dated files tied to 10 clients, as the Silent cybercrime group claimed responsibility for the breach
mShift adds BOXX cyber insurance products to marketplace for brokers
mShift added BOXX Insurance to its marketplace, giving brokers faster digital access to cyber cover for SMEs through quoting, binding, and issuance tools
Cloud outage risk stayed high despite drop in critical downtime
Parametrix said critical cloud downtime fell 28% in 2025, though major outages at AWS, Azure, Google Cloud, and Cloudflare kept digital supply chain risk elevated
Reinsurance pricing softens as profits stay strong in a capital-rich market
Autonomous said reinsurance renewals stayed soft, rate cuts widened in property and specialty, and profits still support mid-to-high teen returns on equity
Odyssey Group updates brand as Hudson and Newline adopt shared identity
Odyssey Group introduced a new brand identity, bringing Hudson and Newline under a shared visual system as the Fairfax-owned firm marks 30 years
Kairos Risk Solutions buys Molto Re to expand in North America
Kairos Risk Solutions acquired Molto Re and named Josh Madson North America managing director as it pushes deeper into reinsurance and risk advisory
US InsurTech deal share expands as AI dominates 2025 funding
US InsurTechs increased global deal share to 55.74% in 2025, while AI-focused firms captured 66% of funding and led Q4 activity
InsurTech funding rose in 2025 to $5.1 bn as Q4 capped a stronger year
Global InsurTech funding picked up in 2025 after three weak years. Total investment rose 19.5% year on year to $5.1 bn, the first annual gain since 2021
Global reinsurance capital hit $785 bn as competition rises in 2026
Aon said global reinsurance capital reached a record $785bn in 2025, with traditional and alternative capital both climbing as renewal competition increased
Hail and AI are reshaping severe storm risk management
Allianz says severe convective storms are driving heavy insured losses, with hail as a major factor and AI becoming more important in resilience planning
US mortgage insurers posted strong 2025 underwriting results: Fitch
Fitch said US mortgage insurers delivered a 7.7% loss ratio in 2025, helped by reserve releases, stable home values, and continued high policy persistency
Fitch says private credit transparency in North America is improving slowly
Fitch says private credit disclosure is rising in North America, though the market remains largely opaque, especially around links to the wider financial system
J.C. Flowers backs Niyam and Lloyd’s Syndicate 2047 in India
J.C. Flowers will take a controlling stake in Niyam and lead investment in Syndicate 2047, building a reinsurance platform from GIFT City into India
Mega M&A deals hit post-2008 high in first quarter of 2026
WTW said 12 mega deals worth $10 bn or more closed in Q1 2026, pushing total completed deal value to a five-year high of $438 bn
Acrisure UK adds four businesses to deepen specialist broking reach
Acrisure UK Broking acquired Confidas, Heathwoods, Marrs and Smith Greenfield, expanding its specialist strength in commercial, property and private client insurance
Aon expands digital infrastructure risk team with two senior hires
Aon appointed Stephen Fox and Brian Hearst to strengthen digital infrastructure and builders’ risk advisory as demand rises for data centres and AI projects
Reinsurance renewals at 1 April extended the softening seen at 1 January – Howden Re
Howden Re said 1 April renewals extended January’s softening trend, with Japan property-cat rates falling and Hormuz-driven stress staying focused in specialty lines
AI Startup Yupp shuts down after $33 mn seed as AI feedback model stalls
Yupp is closing less than a year after launch, despite raising $33mn, as its crowdsourced AI model-ranking business failed to find strong product-market fit
US shipping insurance plan for Hormuz set to launch soon, Scott Bessent says
Treasury Secretary Scott Bessent said a US insurance programme for Strait of Hormuz shipping will begin soon, aiming to support safer tanker traffic
Connecticut court backs insurer GEICO in towing fee complaint immunity case
A Connecticut appeals court ruled GEICO is protected by absolute immunity when filing DMV complaints over towing and storage charges
Zalos raises €3.1 mn to scale AI finance agents for enterprise systems
Zalos secured €3.1mn to expand its Computer Agents for finance teams, targeting large enterprise deployments and on-premise systems without ERP replacement
Zocks expands AI workflow tools into the US life insurance market
Zocks is bringing its AI workflow and document automation tools to life insurance, aiming to cut admin work, reduce NIGO delays, and help advisors issue more policies
Federal Housing Finance Agency chief accuses Letitia James of false insurance filings
FHFA Director William Pulte sent criminal referrals accusing Letitia James of false statements in insurance filings tied to a Virginia property
LEEO launches telematics-led commercial auto cover tied to driving performance
LEEO introduced a telematics-based commercial auto product that uses driving data, AI, and real-time insights to connect safer fleet performance with savings
Massachusetts insurance brokers plead guilty in $750k fraud scheme
A New Bedford couple pleaded guilty in federal court after prosecutors said they stole more than $750k from insurance clients, lenders, and providers
Prudential cuts 54 more jobs in Newark as layoffs reach 237
Prudential filed another WARN notice in New Jersey, bringing total planned job cuts in Newark to 237 since July despite stronger recent earnings
Oklahoma House passes insurance bill to tighten claims oversight
Oklahoma lawmakers advanced HB 2933, adding claims reporting, mediation rules, a Homeowner Claims Bill of Rights, and stronger consumer protection
Insurtech Heathos launches unified life insurance platform for agencies
Heathos introduced a unified life insurance platform that brings carriers, workflows, and commission reporting into one system for agencies selling multiple products
US Senator Jeanne Shaheen bill targets crop insurance subsidies and aims to save $40 bn
Senator Jeanne Shaheen introduced a bill to cut crop insurance costs, curb abuse, save $40 bn over 10 years, and shift support toward smaller farms
Illinois bill to review home and auto insurance rates moves ahead
Illinois lawmakers advanced a bill giving regulators power to review home and auto insurance rates, with insurers warning the overhaul would raise costs
Senate bill would cap insulin costs at $35 for private insurance plans
A bipartisan Senate bill would cap insulin at $35 for privately insured Americans and launch a pilot to extend the same limit to uninsured patients
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
Health insurance is an integral part of employee benefits packages in the United States. However, any employer federally required to provide this compensation could admit that their costs can be burdensome
Fitch Ratings warns U.S. health insurers face a tougher 2026 as medical costs rise, ACA subsidies expire, and policy uncertainty weighs on margins
Providing health insurance in California is becoming a competitive necessity for attracting and retaining top talent, particularly in industries such as technology, finance, cyber