During the Markel Group first-quarter earnings call yesterday, Simon Wilson, CEO of Markel Insurance, said he is concerned about the competitive tendencies of certain MGA’s that are backed by sidecars and private capital, who he believes may be chasing US casualty risk pricing down in areas of the market where caution is warranted.With casualty sidecar structures all the rage, as managing general agents (MGA’s) and larger global re/insurers look to partner with private capital on casualty insurance and reinsurance portfolio risks, it was the first mention we’ve heard where an executive raised concerns during a major insurer’s earnings call. It’s…
Author: Awais
Insurers are seeing gains from artificial intelligence, but many are also exposing themselves to unnecessary risks, according to a new Grant Thornton report. The independent CPA firm’s 2026 AI Impact Survey Report found that 44% of insurance executives say governance or compliance challenges have contributed to AI project failure or underperformance. Only 24% are very confident they could pass an independent AI governance review in 90 days. “Without clear policies and tested controls, insurers are leaving their organizations open to risk with regulators and customers, fueling financial pressure that could ultimately erode product profitability,” Grant Thornton said. “Tested and provable…
Litigation now a structural pressure, not a cyclical one Another key issue is social inflation and legal system abuse, which have driven sustained claims inflation, particularly in liability lines, making profitability difficult at current pricing levels. As a result, insurers are increasing rates across sectors such as auto, excess liability, and healthcare; tightening terms and conditions; adjusting limits; and becoming more selective about geographic exposure. At the same time, insurers are investing more heavily in claims strategies, including advanced pre-trial preparation techniques like mock juries, to better manage litigation outcomes.
If you or someone you know is seeking help for addiction recovery, contact the free and confidential treatment referral hotline, 1-800-662-HELP, or visit findtreatment.gov. A day after Hurricane Helene ripped through western North Carolina in late September 2024, Toni Brewer had no power or water. The storm had strewn fallen trees across most roads, wiped out phone and internet communications, and put some neighborhoods near her Asheville home underwater. Brewer cleared out the food in her refrigerator, grabbed some clothes, and drove more than an hour southwest with her partner to Franklin, to stay with relatives. When she arrived, she…
Three Brown University students injured in a shooting on the school’s Providence, Rhode Island campus last December have filed negligence lawsuits alleging that the Ivy League school ignored warnings about the shooter and failed to provide adequate security. Eleven people were struck by gunshots and two died as a result of the shooting that took place on December 13, 2025 in the Barus and Holley engineering building while students were preparing for examinations. The plaintiffs are not named in their lawsuits except as J. Doe. The J. Doe No. 1 complaint alleges that an insufficient number of security cameras, unrestricted…
Willis, a WTW business, has launched Merger Protect, a specialty insurance solution to help organizations manage the financial impact of U.S. antitrust regulatory review in mergers and acquisitions transactions. Merger Protect forms part of Willis’ broader transactional risk offering, designed to address evolving risks across the M&A landscape. Merger Protect is designed to reimburse defined costs incurred when a Hart-Scott-Rodino Act Second Request is issued by the U.S. Federal Trade Commission or Department of Justice and, where applicable, during a related enforcement action. The solution supports buyers, sellers and their advisors. Second Requests often require extensive data collection, document production…
Bridge Specialty said earlier this year that it now supports a premium book of more than $7 billion across over 230 admitted, E&S and Lloyd’s markets, with more than 50 locations and 2,000 staff across the US, UK, Europe and Asia. Its personal lines arm alone places upward of $650 million in premium across 12 brands and 15 US locations.
A cyberattack that stole $4.8 million in taxpayer money has spurred a New Jersey suburb to issue short-term debt as officials try to recover the funds. Spotswood, located roughly 40 miles outside New York City, was targeted by hackers last year in a scheme that involved the criminals accessing a school district employee’s email account and spurring the borough to erroneously send local school tax funds to a hacker impersonating the board of education. “Both the Borough and the Board of Education were spoofed by a third party cyber criminal which resulted in both the Borough and Board of Education…
One source of the 2025 reconciliation law’s Medicaid cuts is a 10-year moratorium on implementation or enforcement of certain provisions in two rules finalized by the Biden administration that would have reduced administrative burdens to make it easier for people to enroll in and maintain Medicaid and CHIP coverage. Many of those changes were intended to streamline Medicaid eligibility and renewal processes for non-MAGI enrollees. Some of the provisions in the rules were excluded from the delay, including those that have already taken effect. While the law prohibits the Secretary of the Department of Health and Human Services (HHS) from…
Almost all of Europe experienced above-average heat in 2025, a year that broke records for wildfires, sea temperatures and heatwaves as climate change worsens, EU scientists and the World Meteorological Organization said on Wednesday. At least 95% of Europe experienced above-average temperatures, while wildfires burnt more than 1 million hectares of land – an area larger than Cyprus and the biggest annual total on record, the WMO and the EU’s Copernicus Climate Change Service said in their annual report on Europe’s climate. The findings set out how climate change is having increasingly severe consequences in Europe, at a time when…
Australia’s top prudential regulator said it will take action against companies that fail to adequately control cybersecurity threats, as concerns within the industry mount over Anthropic PBC’s latest AI model Mythos. The Australian Prudential Regulation Authority is finalizing a plan to supervise artificial intelligence risks, following a review of banks, insurers and retirement funds conducted late last year that identified several shortcomings. These include information security practices struggling to keep pace with AI threats and over-reliance on third party AI vendors, according to the regulator. “Where entities fail to adequately identify, manage or control AI risks in a manner proportionate…
Since joining Patriot in 2025, Feigenbaum has served as regional vice president of employee benefits for the Northeast, overseeing employee benefits agencies across the region. His leadership has focused on operational excellence, sales strategy, technology adoption, talent development and cross-agency collaboration.
Use Our Content It can be republished for free. State officials remain uncertain on how to enforce a requirement that many adult Medicaid enrollees show they’re working — even as one state launches its program this week — and they’re taking a variety of approaches to the job, including, in a handful of states, using artificial intelligence. A KFF survey of Medicaid officials from 42 states and the District of Columbia offers insights into key policy decisions state officials face as the Jan. 1, 2027, deadline for implementing the work requirement nears. Lingering questions include which diseases and illnesses will…
US primary insurer Allstate added more protection to its per-occurrence Nationwide Excess Catastrophe Reinsurance Program, lifting the top of the tower a new high of $11.5 billion at its recent renewal, while also securing a new $1 billion aggregate excess reinsurance arrangement as well.It marks the most reinsurance Allstate has purchased in its history, we believe, with the Nationwide tower now covering losses up to its highest level ever. While the addition of a new aggregate reinsurance arrangement at the April reinsurance renewal signals improved market conditions that allowed the insurer to benefit from increased frequency protection for the coming…