News
Gallagher Re reports lowest global insured catastrophe losses for first nine months since 2019
Global insured losses from natural disasters reached USD $92 billion between January and September 2026, representing the lowest total for the first nine months of a year since 2019.
According to Gallagher Re, the reinsurance broking and advisory firm, its latest Natural Catastrophe and Climate Report shows that insured losses were 29% lower than the 10-year average of USD $128 billion.
Gallagher Re’s Q3 2026 report also found that six consecutive quarters had passed without a single natural catastrophe producing more than USD $10 billion in insured losses. The firm described this as one of the longest periods without such an event in several decades.
Home Insurance Tops Property Taxes in Squeeze for US Households
Home insurance rates have risen so dramatically over the last decade that the average premium now exceeds the average property-tax bill in two-thirds of US counties, according to an analysis published by Bloomberg Intelligence.
It points to the role of insurance in the larger affordability crunch that is putting pressure on households and shaping battle lines ahead of the midterm elections next month. Rates are being pushed up, in part, by extreme weather linked to climate change. STORY
Entegral and GEICO Partner to Enhance Auto Claims Experience
Entegral and GEICO today announced a strategic partnership to enhance the automotive claims experience through improved claim routing, repair coordination and customer communications.
Entegral, a claims technology platform and subsidiary of *Enterprise Mobility, provides solutions designed to streamline the automotive claims process for all stakeholders. Through the partnership, *GEICO, the third-largest auto insurer in the United States, is deploying Entegral technology to support more efficient claim routing, clearer appointment communications and more informed repair-provider selection, creating a simpler and more transparent experience for policyholders and repair partners.
"At GEICO, we're focused on delivering a seamless, first-class experience for millions of customers, from their initial quote through claim resolution," said Shane Wheeler, Chief Claims Officer at GEICO. "With a 97% customer satisfaction rating, we know the standard our customers expect. Working with Entegral helps us deliver a more connected and efficient claims process while making it easier for customers to navigate repairs."
"Today's claims environment requires solutions that help insurers, repairers and customers navigate the process with greater clarity, speed and confidence," said Joe Rector, Vice President of Entegral. "Our partnership with GEICO reflects a shared commitment to leveraging technology and insights to simplify the claims process, improve repair-network coordination and deliver better outcomes for policyholders."
Climate/Resilience/Sustainability
UL Research Institutes Releases New Report Defining Roadmap for Next-Generation Wildfire Risk Intelligence
As destructive wildfires increasingly threaten communities across the globe, a new report from UL Research Institutes' Fire Safety Research Instituteexamines the strengths and limitations of current wildfire risk models and provides a roadmap for more comprehensive wildfire risk intelligence.
"Wildfire Risk Modeling Evaluation Findings and Community Perspectives" details findings from the 2026 Wildfire Risk Modeling Exercise, a first-of-its-kind collaborative effort that evaluated a diverse set of wildfire risk models using common scenarios and datasets. The exercise included approximately 20 organizations across academia, government, national laboratories, nonprofits, and the private sector.
For fire service leaders, emergency managers, and public safety officials, the report provides a practical framework for evaluating which modeling capabilities are best suited to specific community needs and decisions. Applied effectively, these tools can help practitioners identify where risk is greatest, prioritize mitigation investments, strengthen evacuation and preparedness planning, and make more informed decisions before, during, and after a wildfire.
Financial Results
OLD REPUBLIC REPORTS RESULTS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2026
Old Republic International Corporation (NYSE: ORI) – today reported the following results for the third quarter 2026:
- Net income of $243.2 million, compared to $279.5 million last year.
- Net operating income1 of $181.4 million, compared to $196.7 million last year.
- Consolidated net premiums and fees earned of nearly $2.3 billion, compared to nearly $2.1 billion last year.
- Net investment income of $185.4 million, compared to $182.6 million last year.
- Consolidated combined ratio of 96.1%, compared to 95.3% last year.
- Favorable loss reserve development of 1.1 points, compared to 2.5 points last year.
- Book value per share of $24.65, inclusive of dividends declared up 5.7% since year-end 2025.
- Annualized operating return on equity of 12.1%.
Research
LexisNexis Risk Solutions Consumer Study Finds Price Is Reshaping U.S. Auto Insurance Shopping and Loyalty
LexisNexis® Risk Solutions today announced the results of a new consumer research study examining the factors influencing elevated auto insurance shopping and switching behavior in the U.S. The survey of 3,000 U.S. auto insurance consumers found that price is the dominant factor in both switching and staying decisions, with 86% of consumers who switch auto insurance policies citing price as a reason.
The findings are detailed in a new white paper, "U.S. Auto Insurance Shopping and Switching Research Report: Examining Why Consumers Shop, Stay and Switch," which explores how price sensitivity, bundling behavior and changing shopping patterns are reshaping how auto insurance insurers attract and retain policyholders.
"Consumers are increasingly treating auto insurance as an ongoing value comparison, not a one-time renewal decision," said Jeff Batiste, senior vice president and general manager, auto and home, LexisNexis Risk Solutions.
Cargo vans and work pickups struggle in IIHS crash avoidance tests
Cargo vans and heavy-duty pickups lag behind passenger vehicles when it comes to front crash prevention, new ratings from the Insurance Institute for Highway Safety show.
Marginal and poor ratings are common among the first commercial vehicles put through the vehicle-to-vehicle and pedestrian crash avoidance tests. Still, in each test, there is at least one good performer, showing that meeting the challenge is not out of reach for manufacturers.
“These results are a wake-up call for commercial vehicle makers,” IIHS President David Harkey said. “Front crash prevention is especially important for these larger, heavier vans and trucks because of the danger they pose to other road users.” The top performers in both tests are cargo vans. The Mercedes-Benz Sprinter 2500 earns a good rating for vehicle-to-vehicle front crash prevention, and the Chevrolet BrightDrop 400 and Rivian RCV-Delivery 500 earn good ratings for pedestrian crash avoidance.
Cyber Risk
7 out of 10 Individuals Hit by Data Breaches Via Third Party, Kroll Finds
Kroll, the leading independent provider of financial and risk advisory solutions, today revealed that two-thirds of organizations surveyed (69%) suffered a data breach in the past year. More than a third (34%) were breached more than once, according to its 2026 annual Data Breach Outlook.
Further analysis showed that financial services accounted for the largest share of organizations breached in Kroll's cases, at 20%, but a single breach at a technology provider can expose data belonging to customers of hundreds of businesses that use its services.
Of the incidents handled by Kroll in the twelve months between June 2025 and June 2026, 69% of affected individuals were impacted by a third-party breach. 79% of those individuals were affected by a breach from the technology sector, which is significantly higher compared to the finance (9%), insurance (6%) or healthcare (5%) sectors.
Breaches at technology firms accounted for the largest number of affected individuals, followed by insurers, despite ranking seventh and ninth respectively for the total number of organizations breached.
AI in Insurance
When an AI Calls, Who Should Answer?
A consumer's AI agent can now call an insurer and ask for a quote. The possibility of such calls leaves carriers with two bad options: putting a licensed person on the line with a machine, or risk hanging up on a real person.
Both options are wrong. There's a third.
The AI phone calls are already happening. Reuters reported that people using Meta's Muse, the personal AI agent launched in the U.S. this past September, can have it call businesses to book appointments, check inventory or get quotes from contractors. A Meta employee testing this feature said an insurer kept hanging up on Muse after realizing it was an AI caller.
At InsureTech Connect in Las Vegas, Steve Rullo, who is Guardian Life's chief digital and technology officer, told Insurance Business, "We are already seeing providers calling in for verification of benefits with AI." He described healthcare providers using AI to verify patient benefits, often for an entire list of patients in a single call.
Amrish Singh is co-founder and CEO of Liberate
Fraud
$1,787 per prescription: GEICO alleges four-pharmacy pain cream ring
What happened: GEICO alleges four New York pharmacies operated as a single fraud ring, billing $10.8 million in topical pain creams to no-fault auto policies.
Who's involved: GEICO (plaintiff) and four pharmacy entities and their owners (defendants).
What's at stake: Approximately $4.02 million in damages already paid, $4.69 million in pending claims, plus triple damages under RICO.
One of the drugs billed was approved only to treat a pre-cancerous skin condition. According to GEICO's complaint, the pharmacies dispensed it to car accident patients in volume.