INSURANCE NEWS

Markets/Coverages: Brit Announces Renewal of $200M Cyber Consortium

Brit Group Holdings Ltd. announced the renewal of its cyber consortium — “Brit Cyber Attack Plus” (BCAP) — a cyber product designed to protect clients from a broad range of cyber-related perils, including physical damage. BCAP, led by Brit Syndicate …
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UK Warns of Pancreatitis, Deaths Tied to Wegovy, Mounjaro

The UK warned some patients have died of severe inflammation of the pancreas linked to obesity and diabetes drugs such as Eli Lilly & Co.’s Mounjaro and Novo Nordisk A/S’s Wegovy. Though the worst cases of pancreatitis were rare, the …
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Crypto Money-Laundering Hit $82 Billion in 2025, Researchers Say

Money launderers received at least $82 billion in cryptocurrencies last year, up sharply from $10 billion in 2020, driven in part by fast growth among Chinese-speaking groups, blockchain researchers said on Tuesday. The fastest-growing category has been Chinese-language money-laundering networks, …
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Southern Africa Floods That Killed 300 Fueled by Global Warming

An estimated 300 people have died in extreme flooding across parts of southern Africa, including a one-in-50-year event that researchers said was worsened by climate change. Nearly 800,000 people have been affected by the severe rains that started in December, …
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China Plans $29 Billion Capital Injection Into Biggest Insurers

China is mulling the sale of hundreds of billions of yuan in special government bonds to recapitalize some of its largest insurers, according to people familiar with the matter, strengthening the biggest players in a sector that is under pressure …
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Flood Risk Misconceptions Drive Underinsurance: Chubb

A new survey found three overarching themes that affect the purchase of flood insurance centered on awareness, action, and coverage misconceptions, according to Chubb’s Flood Risk and Resilience report. The survey of more than 1,500 high-net-worth homeowners, commercial businesses, agents, …
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North American Risk Professionals See Average 11% Salary Increase

Risk professionals’ salaries have increased an average of 11% since 2023, with chief risk officers/vice presidents of risk management seeing increases of 16%. The increases and other trends in risk management compensation are detailed in the RIMS 2025 Compensation Survey, …
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Viewpoint: Seamless Lead Sharing a Quiet Advantage In a World of Complex Distribution

Most carriers today generate leads from a mix of sources: agent driven activity, direct-to-consumer campaigns, affinity partnerships, and embedded insurance programs. Yet as acquisition costs rise and distribution ecosystems grow more complex, an insurance carrier’s competitive advantage is increasingly defined …
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Danone Recalls Batches of Aptamil Baby Formula in Germany, Letter Shows

Danone has recalled at least three batches of its Aptamil baby formula in Germany, a letter to a wholesaler showed on Thursday, as the French food producer scrambles to contain a scare over a toxin contamination that started with Nestle …
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USAA Prevails in MSP Recovery’s Latest Class-Action Attempt

MSP Recovery, a now-famous Miami litigation firm, has won some and lost some in federal and state appeals courts in a decade-long enterprise that has earned it millions of dollars in fees for, essentially, moving funds from auto insurers to …
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Cape Cod Faces Highest Snow Risk as New Coastal Storm Forms

New York and most of the Northeast will likely be spared the worst of a new winter storm this weekend that still may clip Cape Cod and eastern New England.
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Missouri DCI Requests Update of Catastrophe Response Contacts

The Missouri Department of Commerce & Insurance (DCI) sent a bulletin to insurers this week requesting they provide current catastrophe/disaster coordination contact information. The bulletin, sent on Jan. 27, says that the contact should be available to communicate directly with …
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