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
News
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 Nevado AI launches agentic platform for insurers
Nevado AI debuts an AI-native platform designed to help insurers and financial institutions deploy agentic AI without legacy system constraints
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
Canada’s insured catastrophe losses reach CAD 2.4 bn in 2025
CatIQ reports CAD 2.4 bn in insured catastrophe losses for Canada in 2025, with ice storms and wildfires driving one of the most active years on record
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
Insurtech Stoïk raises €20 mn Series C to scale cyber insurance across Europe
Paris-based insurtech Stoïk closes €20 mn Series C led by Impala and Opera Tech Ventures to expand AI-driven cyber insurance and response across Europe
Insurtech Lemonade launches Autonomous Car Insurance for Tesla FSD drivers
Lemonade introduces autonomous car insurance for Tesla FSD, cutting per-mile rates by about 50% using real vehicle data and AI pricing models
Insurtech Patra expands AI platform to automate 85% of commercial policies
Patra upgrades its AI platform to support up to 85% of commercial policy volume, adding CPP automation, SaaS pricing, and expanded reporting.
Lloyd’s Patriotic Fund rebrands as Lloyd’s Veterans Charity
Lloyd’s Patriotic Fund adopts the name Lloyd’s Veterans Charity, clarifying its mission to support military veterans and families across the Lloyd’s market
Willis expands Synthetik partnership for terrorism risk modelling
Willis broadens its partnership with Synthetik, deploying advanced political violence and terrorism models across client advisory and risk quantification
Fracttal raises $10 mn to scale asset maintenance software globally
Fracttal secures $10 mn led by Kayyak Ventures to expand AI- and IoT-driven asset maintenance across Europe and Latin America
Dutch crypto platform Finst raises €8 mn Series A led by Endeit
Finst secures €8 mn Series A led by Endeit Capital, lifts total funding to €15 mn as MiCAR-licensed crypto platform expands across Europe
Lloyd’s culture survey beats financial services benchmarks
Lloyd’s publishes Culture Survey results, with most scores above financial services benchmarks and strong results across accountability, leadership, and inclusion
Lloyd’s appoints Jim Bichard as CFO, PwC insurance chief joins in 2026
Lloyd’s names PwC global insurance head Jim Bichard as CFO from April 2026, replacing Alexandra Cliff, subject to UK regulatory approval
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
SCOR and Axa launch Lloyd’s consortium for ecological restoration risk
Scor and Axa form a Lloyd’s consortium to insure ecological restoration projects, aiming to reduce investment risk and scale nature recovery efforts globally
Optio Group takes full control of Italian MGA Heca
Optio Group acquires the remaining stake in Italian MGA Heca, marking its fifth deal in a year as it accelerates European expansion
Ethos targets up to $210 mn IPO as life insurtech returns to markets
Life insurance platform Ethos files for IPO seeking up to $210m, valuing the company near $1.26bn as venture-backed insurtech listings resume
Unicorn Pennylane raises €175 mn to scale AI finance OS for European SMEs
Paris-based unicorn Pennylane secures €175m led by TCV and Blackstone Growth to accelerate AI development and prepare for European market consolidation
Berlin AI startup GeneralMind raises €10.2 mn for ERP automation layer
GeneralMind closes a €10.2 mn pre-seed round to build an AI System of Action that automates workflows across ERP, email, and enterprise tools
Workplace fintech startup Stream raises €76 mn Series D led by Sofina
London-based Stream secures €76 mn in Series D funding to expand workplace finance tools, pensions products, and US operations
Kansas insurance regulator recovers $56.7 mn for consumers in 2025
Kansas Department of Insurance says consumer assistance and life policy searches returned $56.7m to residents in 2025, driven by complaints and claim disputes
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
Zurich Insurance launches £7.7 bn cash bid for Beazley after year-long pursuit
Zurich Insurance goes public with a £7.67bn offer for Beazley, proposing a 56% premium as it seeks scale in specialty insurance
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
UK lawmakers warn regulators lag on AI risks in insurance & financial services
UK MPs urge FCA and Bank of England to tighten oversight of AI in finance, warning of consumer harm and market instability as adoption accelerates
CyberCube flags data discipline as profit driver for cyber insurers in 2026
CyberCube’s 2026 outlook says cyber insurers face pricing pressure, making actionable data, underwriting discipline, and operational efficiency decisive for returns
Reinsurance 2.0 reshapes capacity sourcing through data and capital
Analysts say reinsurance is shifting toward data-led capacity models, with technology, transparency, and diversified capital redefining risk transfer by 2026
European reinsurance profits stay elevated, slowing price reversals
J.P. Morgan says European reinsurance profitability remains far above historical levels, meaning only severe losses would disrupt current pricing trends
Helios Underwriting trims Lloyd’s capacity to £467 mn for 2026
Helios Underwriting expects £467m of managed Lloyd’s capacity for 2026, down 5%, with higher freehold exposure and portfolio adjustments
US P&C insurance returns peak in 2025 as growth slows into 2026
Swiss Re Institute says US P&C underwriting hit a cyclical peak in 2025, with ROE set to ease and premium growth slowing through 2026-2027
Allianz invests in UK insurtech Wrisk in £12 mn Series B round
UK insurtech Wrisk secures investment from Allianz as part of its £12m Series B, backing data-driven insurance for automotive OEMs
Swiss insurtech Credura launches AI insurance adviser for households
Swiss InsurTech Credura launches a FINMA-licensed AI insurance adviser for private clients, automating policy management, analysis, and optimisation across insurers
Professional Insurance Agents NY backs Gov. Kathy Hochul focus on rising insurance costs
PIA New York welcomed Gov. Kathy Hochul’s State of the State focus on P&C insurance, citing rising auto premiums, fraud, and outdated laws straining consumers
AXA XL Reinsurance names Julian Longbottom global head of Marine & Energy
AXA XL promoted Julian Longbottom to global head of Marine & Energy Reinsurance and appointed Jamie Pedro head of Specialty Reinsurance in Bermuda, effective January 2026
Insurtech Root embeds auto insurance quoting into Kikoff personal finance platform
Root Insurance partnered with Kikoff to offer in-app car insurance quotes and purchases, targeting credit-focused users with data-driven pricing and mobile-first coverage access
Insurtech SelectQuote closes $415 mn credit facility to extend debt maturity to 2031
SelectQuote secured a $415 mn credit facility led by Pathlight Capital and UMB Bank, refinancing term debt, boosting liquidity, and extending maturities to 2031
Definity closes C$3.3 bn acquisition of Travelers Canada insurance operations
Definity Financial completed its nearly C$3.3 bn cash acquisition of Travelers’ Canadian personal and commercial insurance businesses, reshaping the country’s P&C rankings
Osapiens reaches unicorn status with €85.8 mn Series C led by Decarbonization Partners
Mannheim-based osapiens secured €85.8 mn in Series C funding led by Decarbonization Partners, lifting the ESG software provider to unicorn status
US Judge dismisses CrowdStrike shareholder fraud suit tied to 2024 global outage
A US federal judge dismissed a shareholder lawsuit accusing CrowdStrike of hiding software testing failures ahead of the July 2024 outage, allowing plaintiffs to amend
Tesla enters mediation with EEOC over racial harassment claims
Tesla agreed to mediation with the EEOC over claims of widespread racial harassment at its Fremont plant, pausing parts of discovery as talks move toward spring
Adjusters launch InsuranceClaim123 to audit insurers’ damage estimates
Two independent adjusters unveiled InsuranceClaim123, a $295 AI-assisted review tool that flags potential gaps in insurers’ property damage estimates without an on-site inspection
Insurtech BirdsEyeView raises seven-figure funding to scale wildfire risk models
ESA-backed InsurTech BirdsEyeView secured new funding led by 24 Haymarket to expand internationally and accelerate live, AI-driven wildfire risk modelling
Cyber and AI dominate global risk outlook for 2026, Allianz finds
The Allianz Risk Barometer shows cyber risks holding first place for a fifth year, while artificial intelligence surged to second as companies brace for wider exposure
Berkshire Hathaway launches primary casualty policies as Italy expansion continues
Berkshire Hathaway Specialty Insurance expanded in Italy with modular primary casualty coverage for national and multinational risks, written on a net basis without reinsurance
Aon updated findings from its study of US commercial health insurance claims
Aon’s multi-year analysis of US health claims shows long-term GLP-1 use slows medical cost growth and delivers significant cardiovascular and cancer-risk reductions, especially for women
Aon expands data center insurance program to $2.5 bn capacity
Aon increased capacity for its Data Center Lifecycle Insurance Program to $2.5 bn, responding to rising AI, cloud, and digital infrastructure investment
Sedgwick launches London-based global specialty platform for complex losses
Sedgwick rolled out a global specialty platform in London to handle large, complex losses, expanding marine and energy capabilities with senior hires and 100+ adjusters
Arizona names Charles Bassett to lead insurance and financial regulator
Gov. Katie Hobbs appointed longtime policy attorney Charles Bassett as director of Arizona’s insurance and financial institutions department, ending an extended leadership transition
INNOVA joins EU-backed HARD2SCALE project to scale deep-tech for industry
INNOVA joined the EU-funded HARD2SCALE initiative to support scaling deep-tech solutions for energy-intensive and hard-to-abate industries across Europe
Over 40% of agentic AI projects will be canceled by the end of 2027, due to escalating costs, unclear business value or inadequate risk controls
Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds
How insurers use AI, parametric models and data to close the global protection gap, support climate finance, and strengthen resilience amid regulatory fragmentation
Although cyber incidents have not resulted in a significant systemic event for the U.S. financial services sector to date, they could pose risks to financial stability