Insurance Industry News

California Insurance Commissioner candidate Jane Kim wants state-run disaster insurance program

California's troubled insurance market is emerging as a central issue in the race for state insurance commissioner, with former San Francisco Supervisor Jane Kim proposing a state-run, nonprofit disaster insurance program that would fundamentally…

Gulf Hurricane Not Big Enough to Reset Insurance Market

Serbia's insurance market grows 7%

Serbian insurers recorded 7% year-on-year growth in aggregate premium income to 104.3 billion Serbian dinars ($994 million) in the second quarter of 2026, according to the region's central bank, SeeNews reported. Nonlife insurers' premium income…

Ben Allen pitches insurance reforms as California homeowners struggle with coverage

For millions of California homeowners, finding affordable insurance has become increasingly difficult, especially in communities facing a high risk of wildfires. The crisis is a central issue in the race for California insurance commissioner, with…

Shinhan Financial acquires Lotte Insurance for $518 mil.

Shinhan Financial Group Inc., a major banking group, has decided to take over a midsize non-life insurer for 693 billion won ($518 million) to diversify its business portfolio, industry sources said Tuesday. Shinhan Financial's board of directors…

Orion180 Insurance gets Buy-equivalent rating at RBC (OIG:NASDAQ)

Orion180 Insurance Group (OIG) gained 2.5% in Tuesday premarket trading after RBC Capital Markets initiated coverage of the distributor of home insurance with an Outperform rating, saying the business is more than just a managing general agent.

Shipping and insurance costs for energy flows surge

(Reuters) – Ministers of OPEC and non-OPEC Participating Countries in the Declaration of Cooperation said shipping and insurance costs have surged to unprecedented levels of over one-third of the commodity value, impeding efficient movement…

Commercial insurance pricing set to ease further

COLORADO SPRINGS, Colorado – Commercial insurance buyers will likely see more favorable market conditions heading into 2027, with further declines in property rates and moderating increases in some liability lines, insurance executives say.

Wegovy Developer Aims to Have Drug Covered by National Health Insurance

Novo Nordisk, the Danish multinational pharmaceutical company that developed the weight management drug Wegovy, is aiming to have the drug covered by the National Health Insurance Service. The South Korean branch of the firm, Novo Nordisk Korea…

UnitedHealth Group tops estimates, hikes profit outlook as insurer manages high medical costs

UnitedHealth Group posted third-quarter earnings that blew past estimates and raised its full-year profit outlook. The nation's largest private insurer continues to manage high medical costs and is seeing investments in value-based care and…

Dispute between insurance company and Ochsner threatens another Louisiana Medicaid plan

Healthcare coverage by one of the state's four remaining Medicaid insurers is in question due to a contract dispute between the insurer and the state's largest health system, health officials said Monday. Louisiana Healthcare Connections is one of…

Black Sea oil shipping insurance rates hits hit new highs

Bulgarian insurance costs for Black Sea oil shipments have surged to $2.5 million from $200,000 per vessel in recent months, Russian PJSC Lukoil's special commercial manager in Bulgaria, Evgeni Simeonov, told Bulgarian National Television, OilPrice…

Rising repair costs, claims push insurers to review motor premiums

Rising vehicle repair costs, higher insurance claims and increasing compensation for road accident victims have prompted insurers to review motor third-party insurance premiums, with a possible increase of between 20 and 30 per cent under…

The Farmers Insurance Skins Game returns; Jackson Koivun, Brooks Koepka headline field - PGA Tour

Favorite players to keep them at the top of your leaderboard and get the latest updates. or Sign Up to save favorites across devices. The Farmers Insurance Skins Game is returning for a second year. Jackson Koivun, Justin Thomas, Brooks Koepka and…

Aon and the European Bank for Reconstruction and Development expand war risk insurance facility for Ukraine

Brings guarantee scheme through the EBRD from €110 to €150 million to provide reinsurance capacity for international reinsurers and Ukrainian insurance companies to cover war related risks in Ukraine UNIVERSALNA and USG join three…