Insurance News Digest 3-5-2026

Geopolitics dominated insurance news this week. Escalating US/Israel strikes against Iran and disruptions around the Strait of Hormuz are pushing marine and war-risk coverage and shipping insurance costs higher, adding volatility to energy-related exposures.

March 05, 2026

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Insurance News Trivia: One of the earliest known written insurance policies (as we’d recognize it today) covered what?

A) A house fire

B) A ship at sea

C) A horse and carriage

D) A grain harvest

Top 10 Articles Of The Week

Consumers are shopping home and auto insurance year-round as budgets tighten. TransUnion reports auto shopping up 10.6% and property up 5.3% year over year, suggesting a lasting behavior shift that is pushing carriers to refine pricing and marketing.

In his first letter as Berkshire Hathaway CEO, Greg Abel flagged weaker 2025 insurance results. He pointed to GEICO retention pressure after big rate hikes and said claims inflation is outpacing pricing in many casualty reinsurance segments.

Mental health risks are moving toward higher acuity care, with telehealth and new treatments complicating coverage. Social inflation and nuclear verdicts, especially in suicide cases, are making underwriting and claims expertise increasingly important.

4. CDC Estimates Up to 56,000 Deaths From COVID-19 and RSV

CDC estimates suggest 10,000 to 23,000 RSV deaths and 34,000 to 53,000 COVID-19 deaths from July 2024 to June 2025, up to 56,000 combined. The burden is highest in infants and older adults, underscoring ongoing respiratory risk for health and life insurers.

A Delaware judge ruled insurers do not have to defend Meta in sweeping social media addiction suits. The court said the alleged platform design choices are deliberate acts, not accidents that trigger CGL defense coverage. An appeal is possible.

A new Aon and Jacobson Group survey sees modest staffing growth of about 0.91%, with half of insurers planning to add headcount. Demand is strongest for tech, claims, and underwriting roles, while competition for specialized talent remains high.

7. Georgia Bill Targets Fraud, Fines, and Wind Mitigation Funding

Georgia lawmakers advanced HB 1344 to increase insurer fines, strengthen fraud enforcement, and fund wind mitigation grants. The proposal also adds claim handling timelines and expands factors regulators can consider during rate reviews.

Zurich agreed to acquire UK specialty insurer Beazley in an all cash deal valued at $10.9 billion. The move aims to expand Zurich’s specialty insurance capabilities globally, with financing expected through cash, debt, and a planned capital raise.

Aspire acquired California based PolicyOne from One Inc., adding 21 employees and strengthening its regional presence. The companies will continue working together as Aspire maintains use of One Inc.’s PremiumPay and ClaimsPay technology.

Proposed Affordable Care Act rule changes could allow family health plan deductibles to reach as high as $31,000. While some consumers may see lower premiums, the changes could shift more costs to patients through higher out of pocket spending.

Topic of the Week: War Risks

President Trump says the U.S. will offer insurance guarantees and Navy escorts for oil tankers transiting the Strait of Hormuz. The move aims to steady energy markets as private war risk cover tightens and flows remain disrupted.

Lloyd’s activated its major event response group to stress test syndicate exposures tied to the Middle East conflict. Aviation and marine risks are in focus, with reports that thousands of vessels could be stuck in the Gulf as war risk rates rise.

Major P&I clubs said they will withdraw war risk cover for ships entering the Persian Gulf starting Thursday. The move reflects uncertainty on pricing amid escalating conflict and could force shippers to seek alternative coverage or reroute.

U.S. terrorism insurance pricing remains near historic lows despite rising geopolitical and domestic threats. Growing capacity and competition are driving rates down, while brokers expect short term pressure for exposures near conflict zones.

Trivia Answer: B) A ship at sea

Marine insurance is one of the oldest forms of insurance since sea trade was risky and expensive.

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