The Massachusetts Property Insurance Underwriting Association (MPIUA) is now seeking lower pricing for its latest catastrophe bond, while the target remains to secure $150 million or more in multi-peril aggregate reinsurance protection through the Mayflower Re Ltd. (Series 2026-1) issuance, Artemis has learned.The Massachusetts Property Insurance Underwriting Association (MPIUA), a residual market property insurance association or FAIR Plan for the Commonwealth of Massachusetts, returned to the catastrophe bond market in May with what will become the seventh cat bond issuance it has sponsored. The MPIUA was last in the market in 2025, securing $225 million of reinsurance from the offering.…
Author: Awais
Americans are increasingly frustrated about being blocked off from care, which results in worse health outcomes and financial stress, per the new study. Still, insurers generally defend their claims review processes.
Vantage Group Holdings Ltd., the Bermuda-based specialty re/insurer, announced it has been successfully acquired by Howard Hughes Holdings Inc. (HHH) for approximately $2.1 billion. The all-cash acquisition of Vantage anchors HHH’s strategy to transform itself into a diversified holding company, similar to Warren Buffett’s (now Greg Abel’s) Berkshire Hathaway. The deal, which was first announced in December 2025, closed after receiving all required regulatory approvals. “Founded in 2020, Vantage has scaled into a next-generation leading specialty insurer and reinsurer, offering a diversified portfolio of global P/C products supported by modern infrastructure and advanced analytics,” according to statements from Vantage and…
Colorado Gov. Jared Governor Polis signed a bill into law that proponents say will lower the price of homeowners insurance in Colorado, Polis signed SB26-155, called Increase Access Homeowner’s Insurance Enterprise, designed to make it more affordable for residents to get hail proof roofs, help decrease premiums and increase market competition in high-wildfire areas. The bill is part of Polis’s efforts he says will save Coloradans $800 each year on homeowners insurance. The bill, sponsored by Speaker Julie McCluskie and Representative Kyle Brown, and Senators Kyle Mullica and Janice Marchman, creates an enterprise governed by a seven-member board, including the…
People with Medicare have the option of receiving their Medicare benefits through the traditional Medicare program administered by the federal government or through a private Medicare Advantage plan, such as an HMO or PPO. In Medicare Advantage, the federal government contracts with private insurers to provide Medicare benefits to enrollees. Medicare pays insurers a set amount per enrollee per month, which varies depending on the county in which the plan is located, the health status of the plan’s enrollees, the plan’s quality star rating, and the plan’s estimated costs of covering Medicare Part A and Part B services. The plans…
After a chemical leak at the Ames Goldsmith plant in Kanawha County killed two workers and injured dozens more last month, federal investigators quickly arrived in West Virginia to begin piecing together what went wrong. Now, the federal agency tasked with determining the root cause of the accident could be eliminated. President Trump is proposing to cut funding for the Chemical Safety and Hazard Investigation Board, a small federal agency that probes chemical disasters and pushes for safety fixes. Worker advocates and former CSB members warn dismantling the agency could leave states like West Virginia — with long histories of…
The Georgia Insurance Commissioner’s office is offering a reward of as much as $10,000 for information leading to the culprit behind a vehicle fire, one of several suspicious fires in Cedartown in recent months. After local firefighters subdued the vehicle blaze on May 22, the state Fire Marshal investigators determined the fire had been deliberately set, Commissioner John King’s office said in a bulletin. The gasoline and the battery had been removed from the vehicle before the incident. It may be the latest arson in the same area in the last eight months, including a camper fire, an outbuilding and…
The US Department of Agriculture is racing to contain the deadly New World screwworm after a case was detected in Texas, where a broader outbreak could threaten an already-small domestic cattle herd. The flesh-eating parasite was confirmed on Wednesday in a three-week-old calf in South Texas, marking the first detection in the US in nearly a decade. The screwworm’s presence in the country has the potential to significantly disrupt the US meat industry, while creating the latest obstacle to the Trump administration’s efforts to tackle record-high beef prices. The key to preventing a bigger outbreak will depend on fencing in…
Hannah Ray J Childs propelled her kayak into a rapid on Iowa’s Maquoketa River on a recent afternoon and dipped her paddle in the water to swing the front of her boat into the air. She loves to spend her days performing whitewater kayaking acrobatics that dunk her body in the water and give her the “feeling of flying,” she said. The water is where she found community — she even first spotted her husband when he was flipping his kayak in violent water. He in turn taught her how. But she has also gotten sick from the water and…
As the current federal administration rounded up an increasing number of immigrants, with U.S. Immigration and Customs Enforcement holding more than 75,000 in mid-January alone, we heard scattered, localized complaints from detainees alleging medical neglect. We wondered about the extent of the problems and whether the agency and its contractors were keeping pace with detainees’ medical needs nationwide. But no central repository exists, so we had to get creative — and dive into a trove of court records. Detainees are filing record numbers of habeas corpus petitions in federal court, arguing they’re being held illegally. Sometimes those cases mention medical…
Property catastrophe reinsurance programs in Southeast US states have undergone a fundamental shift. Far from a supplementary capital pool, the Rule 144A catastrophe bond market has evolved into a fundamental element of regional risk placement, an integration that has inverted historical market norms over the last five years, according to Adam Schwebach, Head of Property, North America at Gallagher Re.Speaking to Artemis around the key June 1 reinsurance renewals, Schwebach discussed how the ILS and cat bond markets have seen a wave of new entrants and upsized issuances ahead of the renewal season. “It’s actually getting to the point where…
Ohio State University agreed Wednesday to pay approximately $100 million to settle legal claims from hundreds of former student athletes who said they were sexually abused decades ago by a doctor at the university. The school has fought lawsuits in federal court since 2018 brought by former student athletes against the university over its failure to stop abuse by Dr. Richard Strauss. Strauss worked at the school from 1978 to 1998 and also ran an off-campus clinic. He died in 2005. During a meeting Wednesday, the school’s Board of Trustees approved a preliminary agreement with all but one of the…
Regulators cleared the nonprofit’s $3.9 billion AmSurg acquisition — but with conditions.
Insurance broker WTW announced the launch of its AI Workforce Transformation solution which helps companies focus AI where it is expected to deliver productivity and growth gains through redesigned work, jobs and strong employee adoption. Addressing the imperative facing CEOs and boards to convert AI investments into productivity gains and competitive advantage, the solution is built on WTW’s extensive proprietary data on jobs, skills and work processes. The solution incorporates two of WTW’s AI-enabled diagnostic tools: Its WorkVue Agent provides clarity on the automation potential for all the jobs across an organization, while ChangeVue establishes the areas that are most…