The Coalition Against Insurance Fraud announced new leadership appointments across several of its committees and task forces, reinforcing its commitment to collaboration, innovation, and excellence in fraud prevention. The Coalition’s 14 committees and task forces play a vital role in advancing industry best practices, strengthening partnerships, and addressing emerging insurance fraud challenges. These leaders have been selected as co-chairs to guide strategic discussions and drive meaningful progress across the organization’s membership. Medical Fraud Task Force: Rob McGinley, senior manager, Financial Crimes Unit, PwC. He joins co-chair Craig Koerner of Farmers Insurance. Public Information Committee: Chris Sloan, executive director, Pennsylvania Insurance…
Author: Awais
North Mississippi senators pleaded for an improved disaster response from the state last week as thousands of their constituents still lacked power nearly three weeks after the January winter storm. Sen. Rita Potts Parks, a Republican from Corinth, repeatedly told her colleagues “we have work to do” to better prepare for future disasters. Her district includes Alcorn and Tippah counties, two of the hardest-hit areas in Mississippi. “I hope you remember how my people were cold, and we as a state, we failed them,” she said during an emotional speech on the Senate floor. “I’m included.” In her district, hospitals…
The regulation required firms to provide more details ahead of mergers, likely chilling dealmaking. The Federal Trade Commission could appeal the ruling.
Private equity firm Aquiline Capital said it has entered into a definitive agreement to sell independent insurance broker Relation to investment firm BayPine. Chicago-based Relation was ranked No. 24 in Insurance Journal’s Top 100 Independent Property/Casualty Agencies report with about $259 million in property/casualty revenue. It has 90 offices nationwide. Terms of the deal were not disclosed. Founded in 2007, Relation provides risk management and benefits consulting services to deliver insurance solutions across commercial P/C, employee benefits, personal lines, private client services, retirement solutions, and wealth management to clients of all sizes across a range on industries such as construction,…
How the policy’s definition of ‘suit’ helped this insurer escape a seven-figure contamination claim
Investments in global insurtech rose 19.5% during 2025 to US$5.08 billion from US$4.25 billion in FY 2024, marking the first annual increase since 2021, according to Gallagher Re’s Q4 Global Insurtech Report. During the fourth quarter of 2025, global insurtech funding surged 66.8% to US$1.68 billion from US$1.01 billion during Q3, said Gallagher Re, noting that Q4 funding was the largest quarterly amount seen since Q3 2022 when US$2.35 billion was raised. The reasons for the surge? Gallagher Re attributed to a combination of factors such as growing investments from insurers and reinsurers (as opposed to private equity companies); funding…
Slide Insurance Company has increased its target for the new Purple Re Ltd. (Series 2026-1) catastrophe bond transaction, with the indicative size raised by roughly 28% to seek $320 million in multi-year collateralized named storm reinsurance, Artemis can report.Slide returned to the catastrophe bond market at the beginning of February, with what is set to become the company’s fifth cat bond issuance in the Purple Re series of deals. You can read about all of Slide’s Purple Re catastrophe bonds in our extensive Deal Directory. Initially Slide was seeking $250 million in reinsurance through its latest cat bond, but we’re…
Tesla Inc. will be allowed to continue selling electric vehicles in California uninterrupted after the company revised what the state had called misleading marketing of driver-assistance technology. The automaker has taken “corrective action” including ending the use of Autopilot branding in California, the state’s Department of Motor Vehicles said in a statement late Tuesday. Tesla also has modified its use of the term Full Self-Driving to clarify when supervision is required. Related: Tesla’s Austin Robotaxis Report 14 Crashes in First Eight Months California had been poised to suspend Tesla’s sales license for 30 days after a ruling in December from…
Specialty insurance platform Pinion Insurance announced its launch yesterday. The company will offer insurance capacity for managing general agents (MGAs) across the U.S., U.K. and European markets through a fully integrated innovative proprietary technology platform. Founded by an experienced management team of Neil McConachie, Philip Vandoninck and Laura Baird, Pinion has secured a commitment of up to $180 million from global asset management firm Barings. It is seeking multi-jurisdictional licenses in the U.S., U.K. and the European Union and a rating from AM Best. For the U.S., nationwide E&S licenses will be obtained through the acquisition of an identified shell…
A coalition of health and environmental groups sued the Trump administration on Wednesday over its decision to revoke the scientific finding that forms the basis of U.S. climate regulations. The legal challenge filed in the U.S. Court of Appeals for the District of Columbia also challenges the Environmental Protection Agency’s decision announced last week to repeal tailpipe rules that limit greenhouse gas emissions from cars and trucks. The groups suing include the Center for Biological Diversity, American Lung Association, American Public Health Association, Union of Concerned Scientists, Natural Resources Defense Council, Public Citizen and Sierra Club. The EPA on Thursday…
Specialty Program Group LLC (SPG), an operator of specialty insurance distribution, underwriting, and consulting businesses, announced the acquisition of Logistiq Insurance Solutions and the subsequent integration of Logistiq with Anova Marine Insurance, a firm acquired by Specialty Program Group in 2025. These new cargo and logistics capabilities will complement and enhance SPG Transportation’s position in marine cargo expertise.. By combining Anova’s deep expertise in ocean cargo and digital underwriting, Logistiq’s leadership in domestic transportation and risk intelligence, and SPG Transportation’s broad range of liability, work injury, and other transportation products, these complementary capabilities position SPG to offer a complete menu…
Since Aquiline’s initial investment in 2019, Relation has completed more than 100 acquisitions and expanded its specialty capabilities across sectors, including construction, transportation, agriculture, healthcare, manufacturing, hospitality, entertainment, and real estate. The company also pursued a targeted broker-recruitment strategy and broadened its product offering, while focusing on integration and customer experience, the firms said.
Moderna said the agency agreed to move forward and review its application for the mRNA-based shot.
Verisk’s fourth-quarter profit topped Wall Street expectations on Wednesday, with CEO Lee Shavel touting the quality of the firm’s proprietary data sets amid concerns around AI-driven disruption to the information services business model. The data analytics firm, which also provided a “solid” full-year forecast according to analysts, saw its shares rise by 3%. The stock has fallen nearly 21% this year as of the last close. “High-quality data is critical for accuracy and effectiveness, and Verisk is in a unique position as one of very few providers who currently aggregate data from multiple sources,” Shavel said. He added the firm…