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Insurance Business

National insurance news for USA insurance professionals. Read American insurance news, analysis, and interviews with leaders in the US insurance industry.

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News

Insurance Business
insurancebusinessmag.com > ca > news > catastrophe > ontario-storms-cause-360-million-in-damage-as-st--catharines-declares-emergency-589414.aspx

Ontario storms cause $360 million in damage as St. Catharines declares emergency

2+ day, 9+ hour ago   (481+ words) Severe storms that hit parts of Ontario on July 27 to 28 and August 1 to 3 caused an estimated $360 million in insured damage, according to initial figures from CatIQ. The storms brought intense rainfall and flash flooding to the Niagara Region, including St....

Insurance Business
insurancebusinessmag.com > us > news > breaking-news > large-commercial-accounts-see-first-price-drop-since-2017-wtw-finds-589348.aspx

Large commercial accounts see first price drop since 2017, WTW finds

3+ day, 17+ min ago   (355+ words) Large commercial accounts posted their first price decrease since the end of 2017 in the second quarter of 2026, according to WTW's Commercial Lines Insurance Pricing Survey (CLIPS), as an eight-year run of sustained rate increases continued to unwind across the commercial…...

Insurance Business
insurancebusinessmag.com > us > news > construction > builders-risk-ends-where-brokers-face-data-center-handoff-puzzle-589346.aspx

Builders’ risk ends where? Brokers face data center handoff puzzle

3+ day, 29+ min ago   (535+ words) Brokers working on large data center developments may need to arrange the transition from builders’ risk to operational property coverage much earlier, as phased projects blur the point at which construction ends and normal operations begin. The immediate insurance question…...

Insurance Business
insurancebusinessmag.com > uk > news > sme > 25-years-after-911-terrorism-cover-still-has-blind-spots-589322.aspx

25 years after 9/11, terrorism cover still has blind spots

3+ day, 9+ min ago   (704+ words) Twenty-five years after the September 11, 2001, attacks, terrorism insurance faces a problem at both ends of the market. The boundary between terrorism, political violence and war is becoming harder to define, while an estimated 95% of UK small and medium-sized enterprises (SMEs)…...

Insurance Business
insurancebusinessmag.com > ca > news > auto-motor > carefirst-savings-bigger-than-expected-airb-confirms-589266.aspx

Care-First savings bigger than expected, AIRB confirms

3+ day, 9+ hour ago   (536+ words) Alberta drivers are projected to save roughly $297 annually, or 13.7%, under the province's incoming Care-First auto insurance system, according to two new reports from the Automobile Insurance Rate Board. That's a meaningfully larger figure than the $259 average savings Oliver Wyman's actuarial…...

Insurance Business
insurancebusinessmag.com > au > news > breaking-news > the-backstop-911-forced-australia-to-build-just-got-used-twice-in-six-weeks-589231.aspx

The backstop 9/11 forced Australia to build just got used twice in six weeks

3+ day, 13+ hour ago   (355+ words) For eleven years after Australia's terrorism reinsurance scheme opened for business, nobody ever had to use it. Then, within the space of six weeks this summer, the Australian Reinsurance Pool Corporation (ARPC) made two separate terrorism declarations - the Bondi Beach…...

Insurance Business
insurancebusinessmag.com > au > news > breaking-news > an-airboat-crash-in-crocinfested-waters-589229.aspx

An airboat crash in croc-infested waters

3+ day, 13+ hour ago   (493+ words) A Federal Court judge's intervention into a horror Northern Territory airboat crash made headlines last week. But for the insurance market, the more useful story sits in a separate fight in the same court file: an insurer's refusal to indemnify…...

Insurance Business
insurancebusinessmag.com > us > news > breaking-news > how-911-rewired-american-insurance-589203.aspx

How 9/11 rewired American insurance

3+ day, 23+ hour ago   (336+ words) On June 29, the US House of Representatives voted 373-15 to extend the Terrorism Risk Insurance Program through 2034. A Senate companion bill is pending. It's a routine-sounding vote on paper, but it's really Congress renewing, for the fifth time, a program built…...

Insurance Business
insurancebusinessmag.com > nz > news > breaking-news > claims-technology-community-access-drive-insurer-wins-at-fsc-awards-589178.aspx

Claims technology, community access drive insurer wins at FSC awards

3+ day, 15+ hour ago   (474+ words) The Financial Services Council (FSC) has named the winners of its 2026 industry awards, with insurers taking five of the eight categories. The results, read together, point to three areas drawing concentrated attention across the sector: claims infrastructure, health access for…...

Insurance Business
insurancebusinessmag.com > ca > news > breaking-news > the-insurance-backstop-911-built-almost-everywhere--except-canada-589185.aspx

The insurance backstop 9/11 built almost everywhere - except Canada

4+ day, 1+ hour ago   (358+ words) The uncomfortable answer, twenty-five years after 9/11, is that Canada still doesn't have one. The US, UK, France and Germany all built a government-backed reinsurance mechanism for exactly this kind of loss in the two years after the attacks. Canada looked…...