INSURANCE NEWS

Europe’s Markets Watchdog Warns Cyber Threats Are Growing as AI Speeds Up Risks

The chief of Europe’s securities regulator said the risks from and potential speed of cyberattacks are growing, joining a chorus of warnings from financial supervisors on the threats posed by artificial intelligence models that are evolving quickly. Geopolitical tensions have …
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General Atlantic-Backed Indian Insurer Acko Eyes Up to $2.5B Valuation in IPO: Sources

India’s Acko Insurance is targeting a valuation of between $2 billion and $2.5 billion in its planned initial public offering and is eyeing a listing in early 2027, two people familiar with the matter said. Backed by investors including General …
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Michigan Cleared in Lawsuit Over 2020 Dam Collapse

The state of Michigan was cleared of liability Thursday in a disastrous 2020 dam failure that flooded communities, destroyed more than 100 homes and drained a popular lake. Court of Claims Judge James Redford acknowledged the “real and lasting damages” …
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NFL’s Rooney Rule Meets Biggest Challenge in Trump’s DEI Crackdown

The most-recognizable diversity policy in sports is facing the biggest challenge in its history. Florida Attorney General James Uthmeier, who has been endorsed by President Donald Trump, is calling for the end of the National Football League’s Rooney Rule, a …
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Commercial Lines Rates Continue to Soften, Says Ivans Index

Premium renewal rates in the first quarter 2026 decreased for all major commercial lines compared to the fourth quarter 2025, according to the Ivans Index. “Q1 sets an important baseline for 2026, with commercial rates continuing to soften as the …
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Trend of Fewer Insurance M&A Deals ‘Bottoming Out’: OPTIS

Insurance agency mergers & acquisitions in the first three months of 2026 were down 6% compared with the same period last year. It was the 10th consecutive quarter of deal volume below the long-term trend line but, investment banking and …
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South Carolina Senate Votes to Suspend $1M Liquor Liability Insurance Requirement

Eight years after South Carolina lawmakers forced a $1 million liquor liability insurance requirement on bars and restaurants, and one year after they tweaked the law with conditional coverage requirements, the state Senate is trying again. Senators voted last week …
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Former Ransomware Negotiator Pleads Guilty to Aiding Attackers

A former ransomware negotiator has pleaded guilty to charges he helped a ransomware group extort tens of millions of dollars from companies. Angelo Martino, 41, of Land O’Lakes, Florida, worked for a cyber incident response company as a ransomware negotiator …
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Tornado Tears Through Oklahoma Town, Damaging 40 Homes

Raeann Hunt scrambled to her cellar as a tornado bore down on her Oklahoma community. “It is headed right for us,” she recalled thinking, as she peeked outside, unable to contain her curiosity. Huddled inside the dark 8-by-8 foot (2.44-by-2.44 …
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Maine Governor Blocks First State Freeze on New Data Centers

The Democratic governor of Maine, Janet Mills, on Friday vetoed a bill that would have made it the first U.S. state to impose a moratorium on large new data centers, even as local opposition to the electricity-hungry facilities grows. The …
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Massive Ice Sheets Threaten Homes in Northern Michigan

Large chunks of ice rammed into homes along Michigan’s Black Lake in the northeastern Lower Peninsula as constant spring rainfall and winter melt left many homes flooded and threatened to overflow stressed dam systems. Photos and video posted to social …
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Inszone Acquires Michigan’s James R. Vozar Insurance Agency

Inszone Insurance Services announced the acquisition of James R. Vozar Insurance Agency. With offices in Athens, Quincy, and Union City, Michigan, this acquisition further strengthens Inszone’s presence in the Midwest and adds deep specialized knowledge in the agricultural sector to …
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