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

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…

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…

Insurers pledge faster compensation after Musanze market fire

The Rwanda Association of Insurers (ASSAR) pledged faster processing of insurance claims for traders affected by the fire that gutted GOICO Plaza in Musanze District on Saturday, October 10. Andrew Kulayige, chairperson of ASSAR, said the insurance…

Optio launches specialty insurance for European market

London-based Optio Group Ltd. has launched Pinnacle Specialty Insurance in Amsterdam, Global Reinsurance reported. The new managing general agent will offer limits of up to 20 million euros ($22 million) for warranty and indemnity and tax liability…

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…

Health insurance open enrollment: Use this 'algorithm' to pick a plan, financial advisor says

Open enrollment for health insurance is fast approaching for people who get plans through their employers or the Affordable Care Act marketplace. Consumers may have to make financial trade-offs amid soaring premiums, experts said. There are two…

John Oliver Greets His New Skydance Overlords With Sexy Fanfic Pics of Insurance Mascot

John Oliver addressed his new “business daddy” at the end of the latest episode of Last Week Tonight, saying he was thrilled to now be part of the Skydance family next to a trio of sexy fanfic images of the … new Liberty Mutual…

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…

Shinhan to acquire Lotte Insurance for W693.3b

Deal ends prolonged sale process, boosting Shinhan's nonlife insurance business despite capital challenges Shinhan Financial Group is set to acquire Lotte Insurance for 693.3 billion won ($516 million), ending a prolonged sale process and…

Friday Harbor launches Safe Harbor QC with insurance-backed warranty from an A+ rated global insurer

CHICAGO, Ill., Oct. 12, 2026 (SEND2PRESS NEWSWIRE) — Friday Harbor, an AI pre-underwriting platform that helps loan officers assemble complete and compliant loan files in real time, today announced Safe Harbor QC, a new pre-closing quality…

Hurricane Isaias could mean higher insurance deductibles for Southeast Texas homeowners

While Hurricane Isaias battered Florida and Alabama, Southeast Texas homeowners may not be off the hook. Board Certified insurance trial lawyer Hunter Klein, with Green, Klein, Wood and Jones law firm says residents in the Houston area could see…