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News
Europe is burning. Should carriers be worried?
1+ day, 1+ hour ago (636+ words) Insurance Business Europe is burning. Should carriers be worried? Spain declared its first-ever wildfire emergency today. A major French tourist region has been evacuated. Is catastrophe diversification starting to break down? Spain declared its first-ever wildfire national emergency this week....
Cutting exposure now may cost reinsurers later, Oxbow says
1+ day, 16+ hour ago (225+ words) Reinsurers that cut market share during soft pricing cycles cannot regain it once the market hardens, according to new analysis from Oxbow Partners. The finding challenges a common assumption among reinsurance executives, who have argued that restraint in soft markets…...
Battery fire risk falls as insurers warm to solar storage tech
1+ day, 3+ hour ago (245+ words) Battery storage has spent years as the renewable energy sector's most feared technology but the underwriters who once treated lithium-ion fires as an unpriceable risk are changing their tune, according to John Rae, renewable energy leader for the Pacific at…...
Why insurance brokers should ignore falling house prices
1+ day, 3+ hour ago (388+ words) For an industry that has spent years pricing property cover against a backdrop of relentless growth, a genuine correction raises an obvious question for brokers and their clients: Does a falling market mean falling premiums? The brokers IB spoke to…...
Property owner pulls three insurers into six-figure site cleanup suit
1+ day, 12+ hour ago (307+ words) A property owner has sued a Wisconsin city and three insurers to recover cleanup costs for contamination it says the city caused decades ago. Fox Investments LLC filed the complaint on July 23, 2026, in the US District Court for the Eastern…...
Liberty Mutual sues over alleged $1.5M no-fault scheme at NY clinics
1+ day, 12+ hour ago (222+ words) Liberty Mutual and nine affiliated insurers are suing a network of New York clinics over an alleged $1.5 million no-fault billing scheme. The complaint was filed on July 23, 2026, in the US District Court for the Eastern District of New York. According…...
Valley Forge sues Zurich, alleging it failed to defend contractor
1+ day, 12+ hour ago (346+ words) Two insurers have asked a federal court to declare that Zurich must defend a contractor as an additional insured, a new complaint says. The dispute stems from a $13.5 million contract to build approximately 7,400 feet of sanitary sewer pipe for the…...
Michigan court overrules custody rule that decided which insurer pays
1+ day, 12+ hour ago (322+ words) Michigan's highest court has changed how insurers figure out who pays when a child of divorced parents is hurt in a crash. In a decision issued July 22, 2026, the Michigan Supreme Court overruled its own 2013 ruling, known as Grange, resetting how…...
Senate bill would shield insurers covering legal cannabis
1+ day, 12+ hour ago (365+ words) A new Senate bill would stop federal agencies from punishing insurers that cover state-legal cannabis businesses. Introduced on July 21, 2026, S. 5049 carries a tidy nickname: the "Clarifying Law Around Insurance of Marijuana Act," or the "CLAIM Act." Its sponsors, Sen. Kevin Cramer…...
Ohio court backs Brotherhood Mutual, blocks reopening of binding appraisal
1+ day, 12+ hour ago (317+ words) Cash a binding appraisal check, Ohio's top court says, and you cannot pry it back open over damage you find later. The Supreme Court of Ohio ruled on July 23, 2026, that a church could not make its insurer pay more after…...