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News
New York proposes prior approval for all auto insurance rate hikes
2+ day, 16+ hour ago (416+ words) New York regulators have proposed requiring auto insurers to obtain prior approval before implementing any increase in private passenger insurance rates. The New York State Department of Financial Services said the change forms part of auto insurance reforms included in…...
Insured losses from non-peak natural catastrophes exceeded $104 bn
2+ day, 17+ hour ago (333+ words) Insured losses from non-peak natural catastrophes exceeded $100 bn for the first time in 2025, according to Munich Re. Losses from events such as hailstorms reached $104 bn after several years of growth. Global insured catastrophe losses also exceeded $100 bn for the sixth…...
UK commercial insurance adds £29 bn to economy, ABI says
2+ day, 17+ hour ago (816+ words) The UK insurance market contributes around £29 bn annually to the economy and supports more than 300,000 skilled jobs, according to a report from the Association of British Insurers. Around two-thirds of those positions are located outside London, giving the sector a…...
US P&C underwriting profit rises to $31.7 bn in H1 2026
2+ day, 17+ hour ago (651+ words) The US property and casualty insurance industry recorded an estimated net underwriting gain of $31.7 bn in the first half of 2026, according to Verisk and the American Property Casualty Insurance Association. That compares with $11.6 bn in the same period of 2025, when…...
Aon launches Underwriting Analytics for insurers and reinsurers
2+ day, 18+ hour ago (329+ words) Aon has launched Underwriting Analytics, a new capability within its Risk Analytics Platform for insurers and reinsurers. The tool is designed to assess how prospective business would affect existing portfolios before underwriting capacity is committed. The solution combines location-level information…...
Wonderful expands AI operating platform for insurance workflows
2+ day, 20+ hour ago (437+ words) Wonderful is positioning its AI operating system for use across core insurance workflows, including underwriting, claims, servicing and compliance. The platform is designed to sit above existing insurer systems rather than replace core infrastructure. For sales and underwriting, Wonderful applies…...
Insurtech Sixfold launches AI Underwriter for life and health insurance
2+ day, 20+ hour ago (612+ words) Insurtech Sixfold has launched AI Underwriter for Life & Health, a system designed to generate case-level underwriting recommendations across life, disability, long-term care and critical illness insurance. The platform also provides rationale and suggested next actions for each case. The system…...
Insureon partners with LIO Insurance on specialty small business coverage
2+ day, 21+ hour ago (342+ words) Insureon has partnered with specialty commercial property and casualty carrier LIO Insurance to expand insurance options for small businesses with niche risks. The initial collaboration introduces a digital route for special event coverage, with additional specialty classes expected to follow....
Insurtech Intellect AI outlines automation tools for wholesale insurance brokers
2+ day, 21+ hour ago (303+ words) Intellect AI has outlined several areas where wholesale insurance brokers are using automation to reduce manual work across commercial placement. The company focused on distribution workflows, submission quality and document review during its Broker Appreciation Month campaign in July. One…...
Howden Re launches Novark platform for insurance-linked capital
2+ day, 22+ hour ago (483+ words) Howden Re has launched Novark, an insurance management and securities administration platform for insurance-linked investments. The platform is designed to give institutional investors near real-time information on their positions while helping insurers and reinsurers manage third-party capital. Novark brings investment…...