Happy Wednesday! In this week’s Big I Buzz: industry risk trends from global insurers, an industry performance snapshot in P&C underwriting, and a notable civil court award in Wisconsin.

AI Rises as a Top Global Business Risk
Cyber incidents remain the number one global business risk for 2026, landing at the top of the latest Allianz Risk Barometer — and for the fifth straight year. Meanwhile, artificial intelligence surged to second place, climbing sharply from its 2025 position. Risks tied to AI include implementation challenges, liability concerns, and the potential for misinformation and deepfakes. Other top concerns for businesses globally include business interruption, regulatory change, natural catastrophes, and climate change. These rankings reflect how technology and operational risk are reshaping corporate risk priorities in 2026. Read more here.

Improved P&C Underwriting Results Through Q3 2025
The U.S. property and casualty (P&C) insurance market showed marked improvement through the third quarter of 2025, according to a recent AM Best report. Personal lines — particularly private passenger auto and homeowners/farmowners coverage — helped drive underwriting performance, offsetting a tougher start to the year marked by wildfires and severe storms. Net underwriting income reached roughly $35 billion for the first nine months of 2025, up from approximately $3.7 billion in the same period of 2024. Loss ratios in several personal coverage lines improved year over year, illustrating the impact of sustained pricing adequacy and risk management practices. However, some liability segments and workers’ compensation showed mixed results, and narrower underwriting margins raise questions about future trends if premium declines continue. Read more here.

$3.46 Billion Jury Award in Wisconsin Civil Suit
A Waukesha County jury awarded $3.46 billion in damages to state Senator Rob Hutton and his wife in a recent civil case. The eye-popping figure is widely viewed as symbolic, as Wisconsin law caps punitive damages — which means the full amount may never be paid as written. This verdict fits into a wider pattern often described in legal and insurance circles as “nuclear” verdicts — jury awards that are unusually large relative to the underlying harm. While some high awards are tied to clear, serious wrongdoing, others are driven by juror sentiment and broader trends in the civil justice system. Read more here.

For more industry news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to join our email list.