Cargo theft shifts online as insurers warn of rising digital freight fraud
IUMI and TAPA EMEA warn cargo crime is surging worldwide, with digital fraud replacing physical theft as losses reach billions across supply chains
🇺🇸 US Insurance News
Kansas Insurance Commissioner weighs ending cost-sharing for follow-up breast cancer exams
Kansas Insurance Commissioner Vicki Schmidt backs SB 409 to remove out-of-pocket costs for follow-up breast cancer testing after abnormal mammograms
Insurtech Pasito raises $21 mn Series A to build AI workspace for benefits
Pasito secures $21 mn Series A led by Insight Partners to scale its AI-native workspace across group health, life, and retirement benefits operations
🇺🇸 New York targets auto insurance fraud as premiums near $4,000
New York moves to curb auto insurance costs with fraud crackdowns, payout limits for at-fault drivers, and revived enforcement as premiums run far above the US average
Insurtech Gain Life rebrands to Crosstie to scale AI insurance workflows
InsurTech Gain Life rebrands as Crosstie, expanding AI-driven workflow automation across P&C insurance operations, claims, underwriting, and customer self-service
🇺🇸 New York auto insurance hits record $1,935 as affordability worsens
New York drivers spent a record $1,935 on auto insurance, ranking among the least affordable states as repair costs, injuries, and claims expenses climb
Wisconsin DNR warns flood risk rising as wettest decade hits state
Wisconsin officials urge residents to assess flood risk and insurance options during Flood Insurance Awareness Week as flooding remains the state’s most common hazard
Louisiana insurers push tort reform as home insurance costs bite
Louisiana insurance agents urge lawmakers to cap damages and pass legal reforms as high property insurance costs slow homeownership and limit market competition
🇺🇸 US auto insurance costs rise as luxury and performance models drive premiums
Full coverage auto insurance in the US averaged $2,312 per year, or about $193 per month. That figure sits below the $2,746 annual average
Radian completes $1.67 bn acquisition of Lloyd’s re/insurer Inigo
Radian closed its $1.67 bn purchase of Inigo, reshaping the group into a global specialty insurer and lifting EPS and ROE expectations for 2026
Aon partners with ICICI Prudential to deploy PathWise actuarial platform
ICICI Prudential Life Insurance adopts Aon’s PathWise platform to unify actuarial modelling across IRBCF and IFRS 17 as India’s life market scales
Massachusetts court backs reinsurer reimbursement after Polaroid collapse
A Massachusetts appeals court ruled a reinsurer can recover COLA payments from the trust fund even after a self-insured employer enters bankruptcy
Reinsurance cycle looks steadier as capacity builds and T&Cs tighten
Autonomous sees a more rational reinsurance cycle, though rising capacity and softer pricing are expected to pressure terms and conditions through 2026
Steve Schell named Aon’s global life sciences industry leader
Aon leading global professional services firm, announced Steve Schell has been named Aon’s global life sciences industry leader
Slide Insurance targets $250 mn Purple Re cat bond with wider storm coverage
Slide Insurance returns to the cat bond market seeking $250 mn via Purple Re 2026-1, expanding named storm coverage beyond prior deals
Munich Re launches Lloyd’s pandemic parametric insurance consortium
Munich Re sets up a Lloyd’s consortium offering parametric pandemic cover, using WHO-based triggers to address a widening global protection gap
KCC estimates $6.7 bn insured losses from Winter Storm Fern
Karen Clark and Company puts privately insured losses from Winter Storm Fern at $6.7 bn, driven mainly by freeze damage and power outages
Artificial Labs raises $45 mn Series B to scale insurance tech
Artificial Labs closed a $45 mn Series B led by CommerzVentures to scale digital broking and underwriting technology and expand into the US in 2026.
Aon delivered strong performance and finished 2025 with 9% total revenue growth
Aon delivered another quarter of strong performance and finished 2025 with 9% total revenue growth, 6% organic revenue growth and double-digit free cash flow
ILS market targets another record year after $24 bn issuance
Strong investor demand, reinvestment flows, and maturing cat bonds position the ILS market for another high-volume issuance year in 2026
Florida bill targets Citizens Insurance arbitration rules, offers jury trial option
Florida lawmakers weigh changes to Citizens Insurance arbitration, giving policyholders a choice between mandatory arbitration and jury trials amid legal scrutiny
Florida regulators approved new auto insurance rate cuts heading into 2026
Florida regulators approved new auto insurance rate cuts heading into 2026, with USAA’s 7% reduction adding over $125 mn in annual savings
Florida drops insurance fraud case tied to AOB claims against Tower Hill
Criminal fraud charges against a Florida restoration contractor linked to AOB litigation were dismissed, leaving insurers frustrated as civil suits continue
USAA cuts Florida auto insurance rates 7% as pricing stays firm elsewhere
USAA will lower Florida auto rates by 7% in May, bucking national trends as tort reform, loss moderation, and strong earnings reshape pricing
US winter storms drive billions in insured losses as risk climbs – Aon
Winter storms across the US continue to generate multi-bn insured losses, exposing homeowners, drivers, and businesses to rising financial risk
Winter storm drives $105-115 bn losses across US economy
AccuWeather estimates massive economic losses from a winter storm affecting 200 mn people, with insured losses reaching into the billions
Health and Safety tops global D&O risk rankings as climate and AI concerns fade
Health and safety is the leading risk for directors and officers worldwide for a second year running, according to the Global D&O Survey
D&O insurance delivers decade-best loss ratio as underwriting cycle turns
D&O liability delivered its strongest calendar-year loss ratio in more than a decade in 2025, coming in at 50%, even after three consecutive years of declining direct written premiums
Delaware court backs D&O insurance coverage, rejects bump-up exclusion defense
Delaware Supreme Court orders insurers to cover a $28 mn D&O settlement, ruling bump-up exclusion does not apply to Harman–Samsung deal
UnitedHealth profit falls 16% in 2025 as Medicare cuts and cyber costs bite
UnitedHealth Group reports a 16% drop in 2025 profit amid Medicare funding pressure, rising medical costs, and charges tied to the Change Healthcare cyberattack
Sanctions sideline 79 Russian oil tankers and drive up insurance costs
More than 79 sanctioned tankers involved in transporting Russian oil halted operations in 2025, while freight and vessel insurance costs jumped by 40-50%
Insurers brace for Arctic tension, regime shifts, nuclear risk in 2026
BMI’s Yoel Sano flags Arctic disputes, regime change, and nuclear uncertainty as top political risks insurers face heading into 2026 and beyond
Brit renews US hospital liability consortium 7882 with $10 mn capacity
Brit Group renews its US hospital professional liability Consortium 7882 for 2026, offering $10 mn of Lloyd’s-backed capacity amid tighter market conditions
Kansas bill backs tax-free insurance savings accounts for premiums
Kansas Insurance Commissioner Vicki Schmidt supports legislation creating tax-free insurance savings accounts to help cover property and casualty costs
Mississippi lawmakers weighs ban on insurer donations to commissioner races
Mississippi lawmakers review a bill blocking insurance-regulated donors from backing commissioner candidates, drawing pushback from the sitting commissioner
Nevada’s Affordable Care Act enrollment slips 5.5% as subsidies fade, officials stay calm
Nevada Health Link reports stable ACA enrollment despite higher premiums and expired subsidies, with public option plans drawing 10% of signups
Connecticut lawmakers question mandate-heavy health insurance plans as costs climb
Connecticut legislators debate soaring health insurance costs as mandated benefits hit 81, raising premiums for individuals, small employers, and ACA enrollees
Lawmakers grill insurers over CEO pay as patients face rising costs
Bipartisan House members question health insurance CEOs on executive pay levels amid affordability pressures and frequent claim denials
Karen Bass says Trump oversteps on LA wildfire rebuild permits
LA Mayor Karen Bass pushes back on Trump’s executive order to speed wildfire rebuilding, saying permit control sits locally and insurers, FEMA need pressure
Medicare Advantage 2027 shock rattles health insurers, wipes $ bn in value
A proposed 0.09% Medicare Advantage payment update for 2027 triggers a sharp selloff in US health insurers, forcing a rethink of margins, benefits, and capital plans
Marsh Risk expands Nimbus data center insurance to $2.7 bn capacity
Marsh Risk increases Nimbus facility limits to $2.7bn for large-scale data center construction projects across major global markets
Fitch sees softer US P&C insurance pricing in 2026, reinsurer outlook weakens
Fitch Ratings expects US P&C market softening in 2026 amid pricing pressure, while global reinsurance faces weaker conditions despite strong capital levels
New Jersey mandates licenses and insurance for e-bike riders
New Jersey enacts new e-bike law requiring licensing, registration, and insurance after a series of fatal crashes involving young riders
US health insurance coverage tracks income as Trump unveils reform plan
Private health insurance coverage in the US rises sharply with household income, as Donald Trump submits a healthcare reform proposal to Congress
Jane Kim enters California insurance commissioner race with public option plan
Former San Francisco supervisor Jane Kim launches bid for California insurance commissioner, proposing a state-backed insurance option and tighter industry oversight
Hawaii homeowners insurance rates surge amid wildfire and reinsurance strain
Hawaii insurers push double-digit homeowners rate increases as wildfire losses, inflation, and rising reinsurance costs reshape risk pricing
8th U.S. Circuit allows separate loss-of-consortium recovery under UIM insurance policy
8th Circuit rules Missouri spouse can recover loss-of-consortium damages separately under an Auto-Owners UIM policy due to drafting ambiguity
Insurtech XBuild raises $19 mn Series A to scale AI estimating for insurers
San Francisco-based insurtech XBuild secures $19 mn Series A led by N47 to expand its AI-native estimating platform used by contractors and insurers
Insurtech NEXT Insurance rebrands as ERGO NEXT under Munich Re integration
NEXT Insurance adopts the ERGO NEXT brand, deepening integration with ERGO and Munich Re as it scales digital small business insurance across the US
Gallagher Re: 2025 catastrophe losses stay manageable for insurers
Gallagher Re estimates $129 bn in insured catastrophe losses for 2025, with US storms dominating and capital levels reaching a record $838 bn
Greenland tensions raise geopolitical risk stakes for insurers and reinsurers
Tariff threats tied to Greenland sharpen geopolitical risk, forcing insurers, reinsurers, and brokers to reassess political violence, SRCC, and supply chain exposure
Virginia State Police warn of surge in staged crashes and auto insurance fraud
Virginia State Police report a sharp rise in fake crashes and insurance claims, with fraud investigations up 72% year over year.
Oregon weighs wildfire mitigation mandate for home insurance pricing
Oregon lawmakers consider a bill requiring insurers to reflect wildfire mitigation in rates and coverage as rural homeowners face rising costs and limited options
California blocks home insurance non-renewals after Gifford Fire
California Insurance Commissioner Ricardo Lara orders a one-year moratorium protecting nearly 150,000 homeowners from insurance non-renewals after the Gifford Fire
Crowded field emerges for California insurance commissioner race
More than a dozen candidates signal interest in the 2026 California insurance commissioner race as Ricardo Lara exits due to term limits
Michigan regulator sets AI governance expectations for insurers
Michigan’s insurance regulator issues guidance requiring insurers and financial firms to adopt written AI governance programs focused on consumer protection
Progressive to return up to $950 mn to Florida auto insurance policyholders
Progressive plans up to $950 mn in credits for Florida auto customers after quiet hurricane seasons and post-2023 insurance reforms lifted profits
US insurers back move to scrap Federal Insurance Office
Insurance regulators and trade groups support legislation to eliminate the Federal Insurance Office and reinforce state-based insurance regulation
AIG commits up to $3.5 bn to CVC in credit and PE secondaries deal
AIG strikes a strategic partnership with CVC, committing up to $3.5bn across credit strategies and a private equity secondaries evergreen platform
US homeowners face chronic underinsurance as LA wildfire losses mount
Wildfires expose decades of US home underinsurance, with studies showing most policies fall short of rebuilding costs as climate risks and prices rise
US private flood insurance market is expanding, addressing the nation’s substantial gap between economic and insured losses from flood events
Six months after wind-driven wildfires killed 30 people and destroyed thousands of homes and businesses in and around Los Angeles, the scenes in Altadena and Pacific Palisades remain severe
Inland areas are increasingly vulnerable to flooding from both tropical storms and severe convective storms, yet the number of homeowners who purchase flood insurance
The rise in U.S. homeowners insurance costs have been driven by a combination of increasing natural catastrophe losses and extraordinary inflation