When deciding whether to access insurance-linked securities (ILS) and non-traditional sources of reinsurance capital, the question is no longer whether to engage. Rather it has shifted to identifying how to bring it into your capital model effectively and meet medium to long-term strategic goals, Jason Bolding, CEO of Gallagher Securities has said.Bolding believes that insurance and reinsurance companies are faced with a unique funding environment in 2026, with growing investor appetite to deploy capital to the sector. Writing in the recently published report about Gallagher Securities’ institutional investor survey, Bolding said, “There is no shortage of investors keen to put…
Author: Awais
U.S. President Donald Trump is expected to sign an executive order on AI and cybersecurity as soon as Thursday, two sources familiar with the matter told Reuters, as pressure grows from parts of his political base to increase oversight of new AI models, such as Anthropic’s Mythos. The White House was working to get AI company CEOs to a signing ceremony with President Donald Trump, another source familiar with the planning said. The order would create a voluntary framework for AI developers to engage with the U.S. government about the public release of covered models, the sources said. Under the…
A court was right to acknowledge an insurance company’s settlement of a claim and dismiss the lawsuit against its insured without the insured’s approval, the Maine Supreme Judicial Court has ruled. The insured, Patrick O’Brien, objected to the settlement and dismissal of a complaint alleging that he trespassed. Why? Because he wanted to establish a claim of wrongful use of civil process against the woman who accused him. A lower court declined to keep the legal case alive after the insurer settled. O’Brien appealed, arguing that the court abused its discretion in dismissing the complaint with prejudice against him. Now…
The U.S. property/casualty insurance industry is expected to see underlying growth decrease 3.7% for the first half of 2026 as it deals with economic uncertainty. The industry grew 1.6% in 2025, but a report from the Insurance Information Institute (Triple-I) and Milliman said replacement costs are projected to grow 2.1% for the first half 2026. Replacement costs are forecast to exceed U.S. inflation by 2028, “reinforcing the need for continued price discipline across P/C lines,” according to the report. The look-ahead hinges on the Federal Reserve’s interest rate decisions, with a holding pattern currently in place as the market monitors…
Containment has continued to increase on the Sandy fire in Simi Valley, which prompted evacuation orders for tens of thousands of people in Ventura County earlier this week. Though fire activity has slowed, the blaze still poses danger, fire officials said. The fire is 22% contained and has burned 2,115 acres. It had been only 15% contained on Wednesday morning. Evacuation orders are still in effect for several areas. Despite continued warm temperatures and gusty winds, overall fire activity currently remains minimal, according to CalFire. “Firefighters continue to make strong progress on the fire by utilizing direct suppression tactics to…
Current rules permit, but do not require, states to impose cost sharing on certain populations, within limits designed to protect Medicaid enrollees who have low incomes from high out-of-pocket costs. States have flexibility to impose cost sharing on certain populations. Cost-sharing is generally limited to nominal amounts but may be higher for those with incomes above 100% FPL. Certain populations and services are exempt from cost sharing requirements (Table 1). Total out-of-pocket costs for premiums and cost sharing for all individuals in a Medicaid household are capped at 5% of monthly or quarterly household income. States are required to establish…
A U.S. jury found Takeda Pharmaceutical liable for causing about $885 million in damages by delaying a generic version of its constipation drug Amitiza through an anticompetitive scheme. Jurors in federal court in Boston, following a five-week trial, sided with wholesalers, insurers, health funds and retailers including CVS and Walgreens who said the delay forced them to overpay for the drug. The award could rise to several billion dollars. Federal antitrust law that covers the bulk of the plaintiffs’ claims allows damages to be automatically tripled, meaning $821.7 million of the jury’s award could swell to $2.47 billion. Japan-based Takeda…
The Archdiocese of New York (ADNY) has received the go-ahead to depose Chubb Insurance CEO Evan Greenberg in the ongoing legal dispute over liability insurance coverage for clergy sex abuse claims. Chubb sought to block the ADNY from deposing Greenberg, arguing that his testimony is unnecessary and irrelevant because the desired information could be gathered from other officers in the company. However, a court appointed special referee has denied Chubb’s request to preclude Greenberg’s deposition. The ADNY is suing Chubb insurers over their refusal to cover any of the thousands of clergy sex abuse claims it has faced since the…
In response to abrupt and politicized changes to federal vaccine policy, concerned Coloradans have taken several steps to shore up support for vaccine science. A bill passed by the state legislature in March then signed into law by Democratic Gov. Jared Polis allows Colorado to further uncouple itself from federal guidance. The law allows health officials to follow the recommendations of national medical groups when making decisions such as purchasing bulk vaccines for the Medicaid program. “We are insulating our state from the dysfunction coming out of Washington,” said Democratic state Sen. Kyle Mullica, a co-sponsor of the bill and…
Sands Point Risk, a multi-program managing general agency platform, has acquired Launch Environmental Underwriters, a provider of environmental general liability insurance. Jersey City, New Jersey-based Launch focuses on complex risks across the energy, infrastructure, construction, chemical, mergers and acquisition, and industrial sectors. The terms of the transaction were not disclosed. Stamford, Connecticut-based Sands Point said Launch will serve as the cornerstone of its environmental practice. Sands Point Risk was itself launched in 2024 to serve the transaction liability insurance sector with the support of private equity firm Avesi Partners. Dennis Kearns, who founded the transaction risk program at DUAL, is…
Northern Re, the collateralized reinsurance company that provides investors with access to the returns of its long-tail casualty underwriting business, has announced the hiring of Tarek Frahi as Head of Data Science, a move designed to help the company enhance its modelling and analytical capabilities.The news comes on the heels of two announcements that show Northern Re looking to embrace technology to improve its operations and grow its business. In April, the company announced it had selected artificial intelligence and software specialist Palantir Technologies as a core platform to support the continued development of its capital intelligence capabilities. Then, earlier…
The global oil bottleneck in the Strait of Hormuz has generated an enviable—and politically sensitive—financial windfall on the other side of the world in New Mexico, a rare Democratic-dominated state where fossil fuels are a bedrock of progressive social services. New Mexico produces more oil than any other state besides Texas, and the state’s revenue from taxes, royalties and lease sales helps cover the cost of college tuition, all school meals, health insurance and a new initiative for free universal child care. Now that oil prices are surging from the conflict with Iran, money is flooding into the state treasury…
Nearly nine-in-10 workers’ compensation treatment request denials in California were overturned by independent medical review, a new report shows. The California Department of Industrial Relations and its Division of Workers’ Compensation released the annual report on the department’s IMR program. The report summarizes IMR activity in 2025, the 13th year since the program was implemented. The report shows the organization that administers the program, Maximus Federal Services Inc., received 201,037 IMR applications and issued 152,351 final determination letters. Throughout the year, the organization issued decisions an average of six to seven days after receiving all required medical records, according to…
Municipal workers’ compensation insurance pools in South Carolina now have another firefighter health condition presumption to consider, after the state’s governor signed House Bill 3163 into law. The law, which took effect upon Gov. Henry McMaster’s signature last week, adds stroke to the list of conditions presumed to be work-related for some firefighters in the state. “…Any impairment or injury to the health of a firefighter caused by heart disease, stroke, or respiratory disease resulting in total or partial disability or death is presumed to have arisen out of and in the course of employment, unless the contrary is shown…