Daily Brief
6 verified stories from global sources
Progressive reported third-quarter 2026 net income of $2.54 billion, a combined ratio of 88.7 and net premiums written up 4% to $22.3 billion, with policies in force up 6% to about 40.5 million.
After its third-quarter earnings, Marsh McLennan's insurance broking chief John Doyle said sweeping AI exclusions in policies could leave buyers and insurers in disputes, and argued for a more nuanced treatment of AI risk.
A Swiss Re Institute report says legal changes, litigation funding and claimant behaviour explain roughly half of six years of UK liability claims growth, and warns that reversing the PACCAR ruling and opening collective actions could push it higher.
Japan's Financial Services Agency ordered Prudential of Japan to stop soliciting new business from October 13 to January 31, 2027, and Gibraltar Life to suspend its employed sales channels, after misconduct by more than 100 employees.
An attack on connected refrigeration units at around 350 French supermarkets has raised the question of whether cyber policies, which typically exclude physical loss, will cover spoiled stock, and may lift demand for perishable-goods cover.
Health Minister Mark Butler re-introduced a bill on October 15 removing the age-based private health insurance rebate uplift from April 1, 2027, a day after the Senate removed it from the notice paper by 38 votes to 23.