US commercial insurance news, updated every morning.
Philadelphia says Cincinnati Specialty Underwriters Insurance Co. must pay nearly $12 million tied to a settlement with a gun shop operator. The underlying case involved allegations of illegal gun purchases. The city’s complaint was filed in Pennsylvania state court.
The NAIC Financial Stability (E) Task Force manages the macroprudential supervisory component of the solvency framework. Its work includes monitoring industry macroprudential risk, maintaining supervisory tools, and identifying data gaps and disclosure needs. The task force also lists NAIC media and staff contacts.
The NAIC says a voluntary natural catastrophe and resiliency survey is available for states and territories to use at their discretion. In participating jurisdictions, insurers with at least $100 million in direct written premium countrywide must complete it. The survey is administered by the California Department of Insurance on behalf of participating states.
The California Supreme Court ruled unanimously on July 27, 2026, that insureds do not have to show exhaustion of all underlying insurance before suing excess insurers for declaratory relief or breach of the implied covenant. In Fox Paine & Co. LLC v. Twin City Fire Ins. Co., the court said an actual controversy can exist before exhaustion. It reversed the Court of Appeal and remanded the case.
U.S. federal prosecutors and the SEC are investigating four businesses tied to billionaire Mark Walter’s empire, the Wall Street Journal reported. The inquiry centers on whether Walter or his companies concealed financial ties while borrowing billions from insurers he controls. The report said loan proceeds passed through entities linked to the four firms before being used for other Walter-linked businesses.
Christopher Herwig, Greg Lindberg’s former chief investment officer, was sentenced in the Western District of North Carolina to two years in prison and ordered to forfeit $842,000. He had pleaded guilty in 2022 in a related case and was sentenced after Lindberg’s prosecution was completed. Lindberg is serving a 12-year federal sentence for bribery and a multibillion-dollar insurance fraud scheme.
The Seventh Circuit ruled that Aon Risk Services owed no duty to a non-client seeking coverage through a policy Aon arranged for another broker. The court said a broker’s duty runs to its own client, not a similarly situated outsider. It affirmed dismissal of the negligence claim and summary judgment on the contract claim.
Colorado lawmakers are considering a bill that would privatize Pinnacol, the state-chartered workers’ compensation carrier, in exchange for a $300 million payment. The company would remain the insurer of last resort for three years before the Division of Insurance contracts with another carrier. A separate ballot initiative would ask voters to separate Pinnacol from the state in 2027 for a $150 million payment.
Ivans said July 2026 renewal rates rose year over year for commercial auto, BOP, general liability, commercial property and umbrella, while workers’ compensation declined. Month over month, rates fell in every line except workers’ compensation. Commercial property posted a 6.16% renewal increase and umbrella 7.42%.
The U.S. commercial P&C market entered a new soft phase in Q1 2026 after more than eight years of rising rates. Overall premiums fell 1.2%, the first aggregate decline since Q3 2017. Property, cyber and management liability softened, while commercial auto, general liability and umbrella stayed under upward pressure.
Meta Platforms and BlackRock’s $14 billion Sopaipilla data center campus in El Paso, Texas reportedly carries only hundreds of millions of dollars in insurance. The Financial Times reported that losses above those caps would fall to the partners. Marsh & McLennan advised on the coverage structure, according to the report.
The Delaware Superior Court on Aug. 13, 2026 denied reconsideration sought by the ArcLight Entities in a coverage dispute. The court stood by its ruling that one company never actually requested a defense from its insurer. The decision says being named on an endorsement does not by itself trigger a duty to defend.
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