Insurance

Insurer found 18,400 suspect claims last year with some scammers using AI to fake accident scenes and documentsBogus insurance claims worth more than £230m were detected by the insurance firm Aviva last year as scammers tried new tricks including using artificial intelligence to fake car accident scenes, documents and to exaggerate damage.The insurer identified more than 18,400 suspect claims across its brands in 2025, with a combined value of £233m. The fraud claims level was a record for the insurer, although this was the first year that it included the Direct Line brands it acquired last summer. Continue reading...

Firms do not offer cover for some models, or charge more than for equivalent petrol cars, research findsUK insurers are more hesitant to cover some hybrid and electric vehicles (EVs) from China than cars from other countries, research suggests.While some drivers can save money by buying cars made in China, they may have more limited options to get insurance than those buying electric, hybrid and petrol cars from Europe, the US and South Korea. Continue reading...

NDIS changes foreshadowed by health minister Mark Butler will drastically reduce access to the scheme, with nearly 700 staff positions to go at NDIAFederal budget 2026 LIVE updates: Australia government budget announcement and speech – latest newsExplore all of our 2026 Australia federal budget coverageGet our breaking news email, free app or daily news podcastThe government expects to recoup $36.2bn by curbing the national disability insurance scheme’s growth over the next four years as it looks to return to the NDIS’s “original purpose” of supporting people with “significant and permanent disability”.The treasurer, Jim Chalmers, said the budget’s savings package amounted to genuine economic reform, beyond the “usual nips and tucks”. Continue reading...

• Anthropic unveiled 10 specialized AI agents designed for the financial services sector, automating critical tasks for banks and insurance companies. • The agents can autonomously handle operations including pitchbook construction, financial auditing, and other complex processes with limited human intervention. • The launch, timed to Anthropic's New York event, represents the company's deepening commitment to enterprise AI adoption across the financial industry.

• India's Centre has notified 100% foreign direct investment in insurance companies, easing prior 74% cap restrictions. • The policy change aims to attract global capital, potentially lowering premiums and expanding coverage for consumers. • It holds significance for LIC by enabling strategic partnerships and sector modernization amid rising demand.

• In the first quarter of 2026, AI‑driven insurance technology firms attracted significant capital, including Harper Group’s $47 million seed plus Series A and Indigo Technologies’ $50 million Series B, both focused on AI‑automated underwriting and claims workflows. • Platforms such as Mea Platforms, Pasito, General Magic, and Qumis raised between $4.3 million and $50 million to automate document‑heavy processes, reduce loss ratios, and compress quote and bind times for small and midsize businesses. • Investors are backing U.S.‑based vendors that use AI to scale distribution without proportional headcount growth, reduce friction in benefits selection, and improve risk selection in commercial lines.

• Florida's KidCare expansion remains stalled in legal limbo since February 2024, preventing coverage for more children. • Uninsured children in the state have risen to 400,000, one of the highest tallies nationwide. • Delay exacerbates access issues as federal funds await resolution, impacting low-income families significantly.

• Cowbell Cyber Inc. launched Prime One, a new U.S. cyber insurance product for organizations with $250 million to $1 billion in annual revenue. • The policy provides up to $10 million in coverage limits and includes affirmative protection for AI-related incidents and quantum computing risks. • Prime One addresses unauthorized use or access to AI systems in business operations, targeting advanced digital risk profiles.

State investigated claims of bear attacks on cars, unconvincingly backed up by video of person in bear suitWhen it comes to the California department of insurance, don’t poke the bear.That is the lesson three individuals in Los Angeles learned recently when they were sentenced to jail time for an insurance fraud scheme in which they staged attacks on high-end vehicles by having a person dress up in a bear costume – then pretending that person was an actual bear. Continue reading...

Government in February approved an average premium increase of 4.41% from today. Follow today’s news liveGet our breaking news email, free app or daily news podcastAustralia contributing to offensive action in Strait of Hormuz ‘in national interest’, says shadow foreign ministerThe opposition says we should be “open” to sending assets and personnel to open up the Strait of Hormuz, but questioned Australia’s capability.The key question is, is it in our national interest? And my view is yes, it is. The second question is, what can we contribute in a material sense, that part of the equation we are yet to understand? And I think they’re the two questions that need to be answered … but I believe we should be open to making contribution. Continue reading...

• A new study from the University of Nebraska-Lincoln highlights how farmers' risk attitudes significantly influence crop insurance decisions and financial results. • Led by Associate Professor Cory Walters, the research analyzes behavioral factors in agricultural economics, published March 31, 2026. • Findings underscore the need for tailored insurance products to match diverse risk profiles, potentially improving farm resilience amid climate variability.

• One in 10 Americans who held Affordable Care Act plans last year dropped health insurance entirely after federal subsidies expired, according to a survey by the health policy think tank KFF. • The expiration of federal subsidies has forced millions to make difficult choices about maintaining coverage, with significant gaps now in the insurance market. • Hannah Frigand, senior director of the HelpLine for Health Care for All in Massachusetts, highlighted the tough decisions people face regarding health insurance plans in the post-subsidy environment.

ACA requires firms to cover colonoscopies for over-45s but young people face hurdles to receive appropriate testsAs colon cancer rates are rising among people in their 20s and 30s, some adults in the US who are under 45 and experiencing worrying symptoms are struggling to get insurance coverage for colonoscopies, which can detect colon cancer.The Affordable Care Act (ACA) requires insurance companies to cover colonoscopies for people over 45 “because it’s been recommended by the US Preventive Services Task Force”, says Caitlin Murphy, a cancer epidemiologist and professor at the University of Chicago. The ACA requires preventive screenings, including pap smears, for example, to be completely covered. Continue reading...

HHS is looking into the states for ‘alleged disregard of, or confusion about’ the federal Weldon amendmentSign up for the Breaking News US email to get newsletter alerts in your inboxThe US Department of Health and Human Services (HHS) said on Thursday that it is investigating 13 states that require state-regulated health insurance plans to cover abortion services.HHS officials said in a news release that the department’s Office for Civil Rights (OCR) is looking into the states for allegedly violating the federal Weldon amendment, which prohibits federal funding for programs or state or local governments that “subjects any institutional or individual healthcare entity to discrimination on the basis that the healthcare entity does not provide, pay for, provide coverage of, or refer for abortions”. Continue reading...

• Researchers from Carnegie Mellon and Northwestern Universities conclude insurer consolidation boosts health insurance premiums in US markets. • About 238 million Americans, or 78% of those insured, rely on private health insurance, increasingly concentrated with examples in Medicare Advantage drawing antitrust attention. • The analysis urges regulation and oversight to address market imperfections from asymmetric information and market power.