Speaking at the International Forum of Terrorism Risk (Re)Insurance Pools in Sydney, Australia today, Guy Carpenter’s Asia Pacific CEO, Tony Gallagher, has explained the importance of retrocession markets in supporting provision of terrorism reinsurance, highlighting catastrophe bonds as an important and growing mechanism.The IFTRIP event brings together the government regulators, insurance and reinsurance companies that manage the risk pools for terrorism risk around the world. Giving a keynote address at the Forum, reinsurance broker Guy Carpenter’s regional CEO for Asia Pacific explained that access to private market risk capital remains an important part of the equation, for ensuring provision of…
Author: Awais
About the Survey At the end of 2025, despite a government shutdown over the policy, the enhanced premium tax credits expired, decreasing financial assistance for subsidized Marketplace enrollees and contributing to significant increases in the Affordable Care Act (ACA) Marketplace costs for most enrollees overall. Amid the debates leading up to the expiration, KFF conducted a probability-based survey of 1,350 adults covered by ACA Marketplace plans in late 2025 to better understand their worries about potential cost increases for their health coverage. Now—without the enhanced tax credits in place—KFF re-interviewed 1,117 individuals (more than 80% of the original sample) to…
Strong capital position underpins strategy shift The market’s balance sheet strengthened further over the year, with total capital, reserves and subordinated debt rising 5.7% to £49.8bn. The central solvency ratio increased significantly to 496% (2024: 435%), while the market-wide solvency ratio edged down slightly to 200% (2024: 205%), both remaining comfortably above regulatory requirements.
“We continue to invest to make it easier to do business with New York Life,” he said. “That includes expanding digital capabilities, leveraging artificial intelligence, and strengthening the technology that supports our operations – all with a focus on enhancing service, security, and long-term value.”
A cardiology business and three physicians in Arizona were ordered to pay $4.75 million to resolve allegations they performed medically unnecessary vein ablations. Tri-City Cardiology, P.C., a physician group based in the metro area of Phoenix, and three physicians, are paying the sum to resolve allegations that they violated the False Claims Act by performing the procedures. The U.S. Department of Justice alleged that from January 1, 2017, to April 27, 2022, Dr. Jaskamal Kahlon, Dr. Joshua D. Cohen, and Dr. M. Joshua Berkowitz knowingly performed ablations on perforator veins that did not qualify for treatment under accepted standards. Perforator…
Tesla Inc. was sued by the sole survivor of a 2024 Cybertruck crash in California that killed three college students who were unable to escape the burning vehicle, the latest in a growing body of litigation faulting the automaker’s electrically powered doors. Jordan Miller was rescued by a friend who witnessed the middle-of-the-night crash in the San Francisco suburb of Piedmont and smashed a window with a tree branch after the doors wouldn’t open. The other occupants — driver Soren Dixon, 19; Jack Nelson, 20; and Krysta Tsukahara, 19 — all died in the vehicle of smoke inhalation. “Despite having…
The European Union on Monday imposed sanctions against two China-based and one Iranian company for cyberattacks against EU member states. The EU listed China-based Integrity Technology Group and Anxun Information Technology, and Iranian company Emennet Pasargad. China’s foreign ministry said on Tuesday that it opposed the sanctions and urged Brussels to “correct its erroneous approach.” Integrity Technology is seen to have enabled hacks of over 65,000 devices across six member states, according to an EU statement. Anxun is seen to have provided hacking services aimed at critical infrastructure, according to the EU. Two co-founders of Anxun have also been individually…
A proposal from the UN’s shipping agency on Wednesday calls for a safe maritime corridor to free some 20,000 seafarers stranded in the Gulf by war in Iran. Hundreds of vessels have dropped anchor since Tehran threatened to attack ships attempting to leave the Gulf via the Strait of Hormuz. The proposal submitted by Bahrain, Japan, Panama, Singapore and the United Arab Emirates and backed on Wednesday by the United States called for “a framework such as a safe maritime corridor.” Read more: Seafarers Can Refuse to Sail Through Mideast Gulf Region, Main Union Says It was submitted at a…
Artificial intelligence tools that can be used to create nonconsensual sexual images may be banned in the European Union, following outcry after users used Elon Musk’s Grok service to generate thousands of undressed pictures of women and children. The European Parliament’s civil liberties committee on Wednesday approved the bloc’s draft text of its Artificial Intelligence Omnibus law. That included an amendment to outlaw any AI system that generates realistic images “so as to depict sexually explicit activities or the intimate parts of an identifiable natural person” without their consent. The ban wouldn’t apply if a company has imposed measures restricting…
Prevention efforts are making a substantial dent in vehicle thefts across the nation, according to newly released data by the National Insurance Crime Bureau (NICB). The non-profit organization dedicated to preventing and combating insurance crime found that vehicle thefts declined to the lowest levels in several decades, marking a 23% decrease from 2024. This past year’s decline follows a significant 17% drop in vehicle thefts in 2024, the largest decrease in thefts in 40 years, the NICB reported. A total of 659,880 vehicles were reported stolen nationwide last year. “Coordinated prevention efforts by law enforcement, auto manufacturers, insurance companies, and…
A new report from reinsurance broker Howden Re suggests that as natural catastrophe losses continue to rise and pricing tailwinds continue to fade, current reinsurance market conditions present a critical opportunity to reassess protection and get ahead of the next phase of the cycle.The broker’s report finds that average catastrophe loss loads have more than doubled since the early 2000s, with the firm warning that a reversion to soft market pricing could compress underwriting margins, materially reducing the industry’s buffer against heightened catastrophe volatility, including elevated severe convective storm (SCS) activity or a major hurricane. “Over the past several years,…
How embedding AI across the insurance value chain is reshaping what it means to win
The fourth dimension is outcomes. “Whether you are a corporate, carrier, MGA, or MGU, it is about the loss cost or loss pick that you are paying,” he said. The economics of claims make this category particularly important. “Often it is a 10-to-1 ratio,” Raedeke said. “For every million dollars in fees, you might have $10 million of loss costs.” Analytics and AI that influence claim outcomes can therefore generate the most significant financial impact.
Catastrophe bond market issuance activity continues apace in 2026 and now two months of the first-quarter may see new records set for the amount of limit that comes to market, while Q1 issuance overall is destined to be the second highest ever, according to Artemis’ Deal Directory data.Now more than half way through March, our latest projection for issuance of Rule 144A and private cat bonds in the first-quarter ranges from over $6.54 billion down to around $6.34 billion. The reason for that range is, there are currently a number of new cat bonds still in their offering phase which…