Nationwide Mutual Insurance Company is back in the catastrophe bond market with a target to secure $200 million or more in multi-peril reinsurance protection from the capital markets with a new Aquila Re I Ltd. (Series 2026-1) transaction, its third to use this special purpose insurer, Artemis has learned.The US primary insurer is a long-standing sponsor of catastrophe bonds, having first secured property catastrophe reinsurance from the capital markets through a Rule 144A cat bond back in 2008. In fact, this new Aquila Re I deal will be the eleventh Nationwide sponsored catastrophe bond issuance that we have listed in our…
Author: Awais
The agency’s decision to hold an advisory committee meeting on the topic comes after HHS Secretary Robert F. Kennedy Jr. told podcaster Joe Rogan he’s a “big fan” of peptides.
Travelers’ consolidated combined ratio improved to 88.6%, down from 102.5% a year earlier, as catastrophe losses fell to $761 million pre-tax from $2.27 billion in the first quarter of 2025. The carrier said catastrophe losses primarily stemmed from severe wind, hail, and winter storm events across multiple states.
Kingstone Companies Inc. is expanding into the California homeowners insurance market on an excess and surplus lines basis, the company announced. Kingstone announced the move and a partnership with ZestyAI to deploy property-level wildfire risk analytics as part of the expansion. Kingstone said its California strategy builds on the operational and underwriting transformation the company has executed over the past four years, which include pricing flexibility to apply forward-looking wildfire models, setting rates to achieve target margin requirements, and maintaining strict underwriting standards. The company is maintaining a 30% quota share on its California business to manage net exposure during…
The Maryland Insurance Administration (MIA) has withdrawn a proposal opposed by insurers that would have expanded to commercial lines a provision requiring insurers to disclose if they consider claims history when canceling or refusing to renew coverage. The notification requirement (§ 27-501(n)(2)) has applied only to private passenger motor vehicle and homeowners’ insurance since at least 2002. But last September, MIA called that interpretation of the law “unofficial” and “incorrect” and issued a bulletin proposing to expand it to apply to commercial lines policies as well. MIA stated at the time: “The Administration is aware of an unofficial position interpreting…
A grand jury indicted a Florida doctor on a manslaughter charge for allegedly removing a patient’s liver instead of his spleen during a 2024 surgery. The prosecutor for the First Judicial Circuit on Monday announced the charge of second-degree manslaughter against Dr. Thomas Shaknovsky. Prosecutors said that during an Aug. 21, 2024, surgery, which was scheduled to be a laparoscopic splenectomy, Shaknovsky removed the victim’s liver instead of his spleen. That resulted in “catastrophic blood loss and the patient’s death on the operating table,” law enforcement officials wrote in a press release, The patient was a 70-year-old man from Muscle…
The programme, announced Thursday at the Citizens Housing and Planning Council’s annual luncheon, would use city capital to issue property and liability insurance policies at premiums 20 to 30 per cent below prevailing market rates. Deputy Mayor for Housing and Planning Leila Bozorg said the lower cost would be achievable because “the government doesn’t have the same profit demands as private insurers.” The city aims to cover 20,000 homes by 2027, scaling to 100,000 by 2030.
The casualty insurance-linked securities and casualty reinsurance sidecar market is seen as primed for expansion, with speakers at today’s SIFMA ILS conference in Miami saying the aligned nature of the structures and the motivation of cedents to participate all suggest traction will persist.During a panel discussion this morning at the conference, moderator Andras Bohm, Managing Director and Global Head of Structuring, Gallagher Securities, was bullish on growth potential for non-cat and casualty sidecars. In essence, the increasing maturity of this segment of the market is driving greater confidence, while the alignment inherent in the structures is helping fuel investor interest…
A Delaware judge threw out lawsuits seeking to link the heartburn drug Zantac to cancer, freeing makers of the product from facing trials in the state over the cases. Superior Court Judge Francis “Pete” Jones concluded Monday lawyers for ex-Zantac users couldn’t produce legitimate evidence backing up claims the over-the-counter product caused cancer. Zantac is currently made by French drugmaker Sanofi. Jones found the Zantac plaintiffs’ were not entitled to a second chance at amending their claims because they failed to meet statutory requirements to prove allegations that the cancers were caused by the medication. “This court concluded the plaintiffs…
The AI scribe company said information from the New England Journal of Medicine and the JAMA Network will allow providers to more easily access the latest medical research.
From augmentation to autonomy: The hidden exposures in agentic AI AI adoption is accelerating rapidly across industries. According to Darktrace, 78% of organizations already use generative AI in at least one business function, while more than 80% are expected to deploy AI models or applications in production environments by the end of 2026. At the same time, autonomous agents are beginning to execute “multi-step operational workflows from end to end,” effectively embedding themselves within core business processes.
Allstate said it is starting to provide its customers with identity theft protection at no additional cost This added value expands recovery from physical damage to homes and cars to include digital protection as peak storm season approaches. The benefit is available to 6.8 million customers in 14 states today, with additional states rolling out throughout the year, Allstate said. The insurer said it is the first major U.S. insurer to offer identity theft protection at no additional cost to standard home, auto, and renters insurance customers, who will be notified to enroll. Allstate said it has offered identity protection…
The Texas grid operator warned power demand may quadruple from recent record levels by 2032 to feed booming data-center expansion and population growth, an increase that would require the equivalent of almost 300 new nuclear reactors. The Electric Reliability Council of Texas said peak demand may reach 367,790 megawatts in six years, a vast increase from the all-time peak of 85,508 megawatts reached in August 2023. Data centers will account for more than 60% of the projected increase, according to an Ercot presentation released Wednesday. While Texas is facing “exceptional growth” across sectors, Ercot Chief Executive Officer Pablo Vegas said…
While New York and the East Coast bake under an early-season heat spell, the Great Plains, Midwest and parts of the Northeast were pounded by wind and hail Wednesday and face a larger threat Friday. Sporadic power outages, along with flight cancellations and delays at Chicago’s O’Hare International Airport, marked Wednesday’s disruptions, which included tornado watches from Illinois to Oklahoma. A few storms may redevelop Thursday, mainly around Syracuse and western New York, before a more significant outbreak arrives Friday across the Midwest and Great Plains. “The bigger event will be tomorrow,” said Frank Pereira, a senior branch forecaster at…