Domestically, RB Jones has introduced an allied healthcare professional liability program, expanded capacity in its property and flood facilities, and rolled out new inland marine offerings covering builders’ risk, contractors property, and contractors equipment.
Author: Awais
Price Forbes Capital Markets, the investment banking and ILS capital raising unit of reinsurance broker Price Forbes Re, has hired Mike Ward from Artex Risk Solutions as Vice President of its Capital Markets team in Bermuda.In his new role, Ward will be tasked with driving the delivery of capital solutions across primarily the ILS markets and reinsurance-based equity markets to seamlessly connect re/insurers with alternative capital sources. He will also lead investor outreach efforts to foster strong, strategic partnerships with institutional capital providers and asset managers worldwide. Additionally, he will assist with cross-selling and growth initiatives throughout the wider Price…
New York officials reported that after a year-long investigation they have recovered more than 40 Honda and Toyota vehicles worth more than a million dollars that were stolen. New York Attorney General Letitia James and New York City Police (NYPD) Commissioner Jessica Tisch announced the takedown of a car theft operation that allegedly sold stolen vehicles throughout New York and New Jersey. Five individuals have been charged with 92 crimes for their roles in selling stolen cars. The investigation began in February 2025 when Jonathan Mercedes Silvestre was identified as the broker for the sale of stolen motor vehicles, according…
Every summer, people living near the Mendenhall River in Juneau, Alaska, keep a close eye on the water level. When the river level begins to rise rapidly, it’s a sign that Suicide Basin, a small glacier-dammed lake 5 miles up the mountains, has broken through the glacier again and a glacial lake outburst flood is underway. After nearly 15 straight years of ever-larger and more damaging floods in Alaska’s capital city, the U.S. Army Corps of Engineers is discussing an ambitious and expensive solution: create a permanent drain from the lake that would prevent it from reaching outburst stage. The…
Retailers Casualty Insurance, with offices in Michigan and writing workers’ compensation coverage around the South, has joined a growing list of carriers offering dividends or rebates to safe employers. The company’s board of directors voted recently to declare a $1 million distribution for policies effective in 2024. The payout will be based on employers’ safety and loss record, their annual premiums, and the carrier’s profit level for the year. The maximum rebate will be about 8.1% of premium and the average is about $550, said Chris Neyrey, a vice president for Retailers’ managing general agent. Dividend plans appear to be…
If you judged by the more than 16,400 comments posted on a federal government website, you’d think there was a groundswell of older Americans demanding that federal officials hike payments to their Medicare Advantage health insurance plans. Yet about 82% of the comments are identical to a letter that appeared on the website of a secretive advocacy group called Medicare Advantage Majority, a data analysis by KFF Health News has found. The “dark money” group does not reveal its funders or much else — other than to say it is “dedicated to protecting and strengthening Medicare Advantage” and is “powered…
A bill to create a statewide framework for handling wildfire smoke damage insurance claims is now making its way through California Legislature. The Smoke Damage Recovery Act, which primary backer Insurance Commissioner Ricardo Lara said stems from the recovery process after the January 2025 Los Angeles wildfires and smoke damage claims, is authored by Assemblyman Mike Gipson. Related: LA Fire Victims Suing City Utility for Billions Win Major Ruling The bill was first made public in February. Assembly Bill 1795 would require that homes contaminated after a wildfire are properly evaluated and restored to a safe and habitable condition. It…
The Nashville, Tennessee-based academic health system said its board of directors will begin a national search for its next president and CEO.
Finally, companies should strengthen identity security. Iranian actors have frequently used phishing campaigns, stolen credentials and password reuse to gain access to corporate systems. “Using strong, unique passwords, limiting access privileges and monitoring employee identities online can go a long way,” Chan Tsin said. Multi-factor authentication (MFA) remains one of the most effective safeguards.
After years of rapid increases, Medicare Advantage enrollment growth slowed in 2025, a trend that continued in 2026. The number of Medicare Advantage prescription drug (MA-PD) plans available to the average Medicare beneficiary has declined from a peak of 36 in 2024 to 32 in 2026. Additionally, the trend of rapidly expanding extra benefits, spurred by sharp increases in rebate payments from the federal government, has stalled, with a smaller share of plans offering over-the-counter allowances and meals after hospital stays. Medicare Advantage insurers have warned that recent changes to the Medicare Advantage payment system have already hurt enrollees, leading…
Gallagher Re, the global reinsurance brokerage, named Steven Housse as facultative reinsurance leader for North America, starting this week. Housse, based in Atlanta, joins Gallagher after three years as managing director with BMS Group, a London-based insurance and re broker. Before that, he was with Marsh, Guy Carpenter and Brown & Brown. Facultative reinsurance, one of the oldest forms of reinsurance, is when an insurer assigns a specified, high-dollar risk, rather than a portfolio or level of coverage to a reinsurer, according to IRMI. Coggiola The South Carolina Senate has ratified the reappointment of John “Gabe” Coggiola to the state…
Neptune Flood has joined the ranks of insurance apps in ChatGPT. On March 12 St. Petersburg, Florida-based Neptune Flood said it has a digital flood insurance app on the platform to allow property owners to get real-time preliminary quotes from the residential and commercial private flood insurer. “Flood insurance should be easy to understand and easy to buy,” said Trevor Burgess, chairman and CEO of Neptune Flood. “Our app in ChatGPT allows us to meet customers where they are and make protection more accessible for families and businesses nationwide. Neptune is an AI-native company, and we are excited to be…
A new report from S&P Global Market Intelligence is filled with information about record line-of-business loss ratios achieved in 2025—with some property/casualty lines coming in at record lows, and others reaching record high levels. Not surprisingly, the highs occurred for commercial liability insurance lines. The lows were in personal lines, including the wildfire-impacted homeowners line, which benefited from the absence of landfalling U.S. hurricanes last year. Ultimately, the lows outweighed the highs, according to the firm’s report on P/C insurance statutory financial results, “Spectacular P&C statutory profitability may prove fleeting.” But the real story of last year’s record results wasn’t…
The 2026 executive lines market opens in a period of apparent calm—marked by abundant capacity, heightened competition, and largely flat pricing across most lines. But beneath that stability, meaningful pressures are emerging. Cyber losses are again on the rise, AI is creating new and unpredictable exposures across professional, cyber, and employment-related claims, and nuclear verdicts continue to push severity higher. These forces suggest that today’s quiet conditions may not last. Cyber liability is the clearest outlier, with ransomware frequency and severity climbing and limits losses resurfacing. AI-driven risks—from deepfake-related workplace claims to professional errors and “shadow AI” data issues—are expanding faster than policies…