Insurance

• 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.