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
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
AI platform Equal Parts acquires Florida transportation broker Independence
Equal Parts acquired Florida-based Independence Insurance Agency, its second transportation insurance acquisition announced in consecutive weeks
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
Beazley confirms AI-affirmative cyber insurance coverage
Beazley confirmed AI-affirmative cyber cover as insurers clarify how policies respond when artificial intelligence contributes to cyberattacks and losses
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
Insurtech Corgi expands trucking insurance program to towing businesses
Corgi expanded its trucking insurance program to tow-truck operators, combining auto liability, on-hook and garage keepers coverage in one policy
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
Tesla FSD exceeded speed limits in Belgian road tests
Belgian road-safety tests found Tesla FSD exceeded 30 km/h limits in 55% of tested Brussels segments and attempted prohibited cyclist overtakes
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
New Zealand’s NCSC names China as top state-backed cyber threat
New Zealand’s NCSC identified China as its most persistent state-backed cyber threat after 86 major cyber incidents showed suspected state links
Insurtech Vertafore launches Digital Underwriter AI agents for MGAs
Vertafore introduced two Velocity AI agents for MGA underwriting, targeting renewal reviews, program configuration and faster policy processing
Unicorn Upwind acquires Aegis and launches AI Labs for Cybersecurity
Upwind acquired Israeli AI security startup Aegis in a stock deal worth tens of millions after raising $300 mn at a $3.8 bn valuation
Fintech Qonto opens Paris headquarters for European growth
Qonto opened an 11,000 sqm Paris headquarters with 900 workstations as the fintech expands across eight European markets and pursues a banking licence
Tiledesk raises €1.1 mn to expand open-source AI agent platform
Tiledesk raised €1.1 mn to expand its open-source AI agent platform, four years after securing €600,000 for its customer service technology
Hlpy raises €20 mn and acquires 100% of Carvoilà in European expansion
Hlpy raised €20 mn in equity and debt financing and acquired Carvoilà, expanding its digital vehicle services business across European markets
Sprive raises £7.7 mn Series A to expand mortgage fintech app
Sprive raised £7.7 mn in Series A funding after reaching 567,000 users, £42 bn in supported mortgages and an annual revenue run rate above £18 mn
Startup Primo raises €6.9 mn to expand AI agents for enterprise IT
Paris-based Primo raised €6.9 mn to expand autonomous AI agents for IT operations after reaching €3.4 mn ARR and more than 400 customers
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
OpenAI agent breached Australian Medicare portal, Anthony Albanese says
An OpenAI agent accessed non-public Medicare statistics files, prompting an Australian review after a nearly three-month disclosure delay
Silk secures $45 mn growth facility for agentic AI data platform
Silk secured $45 mn to expand its agentic AI data platform across neocloud providers, sovereign clouds and AWS, Azure and Google Cloud
Palma AI raises $1.8 mn for enterprise AI agent governance
Berlin startup Palma AI raised $1.8 mn to expand its runtime governance platform for enterprise AI agents, permissions, MCP tools and audit controls
Connect Ventures raises $55 mn first close for $80 mn Fund V
Connect Ventures secured $55 mn for Fund V, targeting $80 mn to back European pre-seed startups across AI, infrastructure, robotics and biotech
Kontext raises $4 mn for AI agent runtime security
Kontext raised $4 mn led by 42CAP to expand runtime security software that controls AI agent actions across enterprise systems and tools
CRC Group launches Insurisk Cyber for cyber and tech risks
CRC Group launched Insurisk Cyber, combining cyber liability, technology E&O and professional liability with threat monitoring and risk tools
AI targets London insurance costs as Lloyd’s expense ratio rises
AI is being applied to London insurance workflows as brokers and underwriters seek to reduce duplicated work and Lloyd’s 35.6% expense ratio
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
Insurify blocks Meta’s Muse from insurance comparison platform
Insurify blocked Meta’s Muse from its insurance marketplace, citing quote context, carrier costs, privacy controls and consumer protection concerns
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
Bamboo Insurance postpones IPO amid volatile US listing market
Bamboo Insurance postponed its planned US IPO, citing market conditions as recent listings show mixed performance despite stronger 2026 issuance
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
Multi-agent AI moves supply chains toward autonomous execution
Lenovo, Fujitsu, Kohler and others are testing multi-agent AI for supply chain execution, routing, inventory control and disruption response
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 Phillip Esser CEO of Reinsurance Solutions Germany
Aon appointed Phillip Esser CEO of Reinsurance Solutions in Germany and Volker Wahl executive chairman under a new leadership structure from Oct. 1
Bermuda-based reinsurers reported stronger underwriting profitability: 85.3% combined ratio and 15.7% ROE as catastrophe losses fall, premiums decline 9% and competition intensifies
Reinsurance capital remains strong as sector profitability holds despite softer pricing, rising loss risks and mounting pressure on underwriting margins in 2026
Reinsurance buyers expect property pricing to fall further at the January 2027 renewals, with double-digit reductions increasingly entering negotiations
Reinsurance market participants increasingly favour life and health (L&H) business when deciding where to allocate capital