It outlines new takeout rules for commercial policies
Author: Awais
A Texas judge’s move to strike down a state law blacklisting “woke” financial firms, including BlackRock and HSBC, that used environmental, social or governance factors in investment decisions will likely drive a broader push to repeal so-called “anti-ESG” laws in other states, analysts said. Texas lawmakers passed the Energy Discrimination Elimination Act in 2021, requiring state agencies and local authorities to break ties with and divest the shares of companies that refused to invest in some oil and gas companies, targeting the likes of BNP Paribas and Danske Bank on its list. About 14 other states followed suit. A federal…
On January 1, 2026, the Center for Medicare & Medicaid Innovation (CMMI) launched the Wasteful and Inappropriate Service Reduction (WISeR) Model that establishes new prior authorization requirements in traditional Medicare. The model tests the use of technologies such as artificial intelligence to review the appropriateness of select services in six states over a six-year trial period. Prior authorization requirements are used routinely by Medicare Advantage plans and other private insurers, but rarely in traditional Medicare. Prior authorization aims to reduce unnecessary or inappropriate utilization of health care services, but it can also lead to delays and denials of needed medical…
South Carolina’s Safe Home Mitigation Program today, Feb. 10, began accepting applications for a new round of funding for resiliency grants. The program, which provides up to $6,000 in matching grants and up to $7,500 in non-matching grants, received additional funding from state lawmakers last year, making almost $9 million available for wind mitigation projects, according to news reports. More than 600 South Carolinians received grants in 2025 from the program, news sites reported. Approved homeowners can use the grants for window and door protection, roof-to-wall connections, and for new roofs that meet the Institute for Home and Business Safety’s…
Liberty Mutual Group Inc.’s asset-management arm agreed to back Ara Partners’ infrastructure and energy strategies, in the latest partnership between an insurer and an alternative investment firm. The collaboration includes an anchor commitment to Ara’s new energy fund as well as capital for existing and future investments, according to Charley Poole, head of energy and infrastructure at Liberty Mutual Investments, which invests $117 billion worldwide on behalf of the insurer. He declined to disclose the size of the Ara commitment. “We view investments through a perpetual lens and can support businesses over time,” Poole said. Houston-based Ara, which oversees about…
In this edition of Insurance Business TV, Aspen’s Rebecca Gitig talks how those once-in-a-decade events have now, in many cases, become annual events. She highlights events that have stood out in recent years and why the sector needs to adjust to more than just property catastrophes.
US insurance broker stocks were pummeled Monday as the launch of an artificial intelligence tool from privately held online insurance shopping platform Insurify sparked fears about the industry facing disruption. The S&P 500 Insurance index closed down 3.9%, in its biggest drop since October. Insurance broker Willis Towers Watson PLC was the worst performer in the group, closing 12% lower and suffering its worst trading session since November 2008. Arthur J Gallagher & Co. followed with a 9.9% decline and Aon PLC fell 9.3%. “The insurance broker stocks are getting hammered,” Bloomberg Intelligence’s insurance analyst Matthew Palazola said, noting “there…
The US labor board is abandoning a yearslong legal battle against Elon Musk’s SpaceX and signaling it will steer clear of future cases against the company. Two years after issuing a complaint accusing the aerospace firm of firing eight engineers because of their involvement in an open letter criticizing Musk, the National Labor Relations Board said it was dismissing the case. In a letter to the attorneys of the former employees, the labor board cited a recent opinion issued by a separate agency, the National Mediation Board, arguing that SpaceX engineers belonged under its jurisdiction rather than the NLRB’s. “Accordingly,…
The U.S. Chemical Safety and Hazard Investigation Board (CSB) is opening an investigation into the fatal chemical release that occurred on January 27, 2026, at the Woodland Pulp facility in Baileyville, Maine. The incident at the pulp production facility resulted in the death of one person, a 20-year old University of Maine student who was a intern at the facility. Nine other workers were injured, two of them seriously. According to initial information submitted by the company, the incident may have involved the mixing of concentrated sulfuric acid with sulfurous compounds in an enclosed process sewer, resulting in the generation…
Plymouth Rock, a northeast US regional insurer, is the latest first time catastrophe bond sponsor to enter the market, with the firm seeking $100 million in named storm reinsurance from investors through a Tremont Re Ltd. (Series 2026-1) issuance, Artemis can report.Plymouth Rock is also the latest regionally focused insurer to look to the catastrophe bond market for reinsurance protection, with the number of these geographically narrow underwriters that turn to cat bonds having expanded meaningfully in recent years. Plymouth Rock underwrites auto and home insurance products across northeastern US states, with more than $2 billion in premium underwritten across…
Insurance Journal’s Risky Future series is hosting the “AI Tools for Aerial and Geospatial Intelligence” Demo Day, a series of free AI tool demonstrations designed exclusively for carriers, MGAs, claims professionals, underwriters, risk managers and more. Focused on advanced property intelligence, catastrophe modeling, and risk scoring, this event highlights how imagery and geospatial analytics improve underwriting, claims, inspections, and portfolio management. Demos will feature AI-driven insights, property underwriting, portfolio risk mapping, hazard detection, and real-time monitoring. In partnership with Insurance Journal, Risky Future’s AI Tools for Aerial and Geospatial Intelligence Demo Day will be held on Wednesday, February 11. Beginning…
Two-thirds of nurses who walked out of major hospitals in New York City a month ago have reached preliminary agreements with their employers and may end the strike this week, the union representing 15,000 striking nurses said on Monday. The strike at three healthcare networks – Montefiore, Mount Sinai and NewYork-Presbyterian – led to staffing shortages and a state of emergency declared by New York Governor Kathy Hochul to allow out-of-state and foreign staff to cover for striking nurses. The state of emergency, which took effect on January 9, was set to expire on Sunday, but Hochul extended it until…
Online insurance agent Insurify said it has launched a ChatGPT app to allow consumers to compare and shop for insurance. Insurify said the app is the first insurance app in OpenAI’s directory. “Shopping for car insurance has traditionally been time-consuming, confusing, and frustrating for many drivers,” said Snejina Zacharia, founder and CEO of Insurify, in a statement. “With our new ChatGPT app, we’re redefining the insurance shopping experience by making it feel as simple as having a conversation. Drivers can ask questions in plain language, explore personalized quotes, and review real customer feedback, all in one place.” Within ChatGPT, users…
Talanx, the name behind Hannover Re and HDI Global, expects to reach and exceed its earnings forecast of more than €2.5 billion for 2027 one year earlier than planned, following a 25% increase in group net income for the 2025 financial year, according to preliminary, unaudited consolidated figures.