Happy Wednesday! In this week’s Big I Buzz: DIY home inspections are on the rise, and insurers face mounting pressure to support access to high-demand GLP-1 drugs.

DIY Home Inspections Are Taking Over, Firms Say

The future of home inspections may be in the homeowner's hands. Leaders from two firms developing DIY inspection systems—now used nationwide for pre-policy property surveys—say the trend is rapidly gaining momentum.

At the Insurance Innovators USA conference in Nashville, the head of EXL Survey and Business Control emphasized that DIY inspections are no longer a question of "if" but "how to implement."

While some homeowners may initially hesitate to submit photos of a water stain or a precariously placed tree limb, most are willing to participate—especially when they learn it can reduce costs and eliminate the disruption of a traditional in-person inspection. Read more here.

Insurance Companies Scrambling to Support Need for GLP-1 Drugs

Insurers are racing to address the skyrocketing demand for GLP-1 drugs like Ozempic, Wegovy, and Mounjaro. Originally developed for diabetes, these medications are now widely used for weight loss—creating a complex challenge for the insurance industry.

The dilemma? Balancing consumer access with soaring drug costs. While the current strategy is to manage short-term expenses while waiting for long-term data and potential competition from generics or biosimilars, some experts warn that delaying action could prove costly as demand continues to climb. Read more here.

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

Happy Wednesday! In this week’s Big I Buzz: a FEMA leadership shakeup ahead of hurricane season, and a rise in cyber claims tied to business email compromise in 2024.

Acting FEMA Chief Is Ousted After Less Than 4 Months

Less than four months into the role, acting FEMA Administrator Cameron Hamilton has been dismissed, just weeks before the official start of hurricane season. While FEMA has not provided a reason for his removal, the agency confirmed Hamilton’s departure from the position he assumed in late January following his appointment by President Donald Trump.

Stepping into the role is David Richardson, who has been serving as the assistant secretary for the Department of Homeland Security’s Countering Weapons of Mass Destruction Office since January. A former U.S. Marine Corps ground combat officer, Richardson brings a background in national security and crisis response.

Hamilton’s exit came just one day after he testified before a House Appropriations subcommittee, where in prepared remarks he criticized FEMA for becoming “an overextended federal bureaucracy” that has “strayed far from its core mission.” Read more here.

Insurer Coalition: Costs From Business Email Compromise Rise in 2024

Cyber insurer Coalition reported that in 2024, approximately 60% of its cyber insurance claims were related to business email compromise (BEC), with nearly 30% involving funds transfer fraud (FTF). The average cost of BEC claims increased by 23% to $35,000, while FTF incidents had an average initial loss of $185,000. However, Coalition successfully recovered $31 million for policyholders, emphasizing that prompt reporting enhances recovery chances. While overall cyber claim frequency decreased by 7%, the severity remained stable. Notably, ransomware-related claims saw a 3% decrease in frequency and a 7% reduction in severity, with ransom demands dropping by 22% year-over-year. Read more here.

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

Happy Wednesday! In this week’s Big I Buzz: Tips for agents insuring the cannabis beverage boom. Plus, the top pet insurance claims of 2025.

3 Tips for Agents Insuring the Cannabis Beverage Boom

Cannabis-infused beverages are rapidly gaining popularity, offering a new way for consumers—especially those new to cannabis—to enjoy its effects without smoking or edibles. From teas and seltzers to lemonades and soft drinks, these drinks are popping up in bars and boutique grocery stores, making cannabis feel more like a casual social drink than a controlled substance.

But with this growth comes complexity. Hemp-derived THC beverages, legal under the 2018 Farm Bill, are largely unregulated and sold outside the traditional marijuana market—creating challenges for independent insurance agents tasked with covering these businesses. Read about tips for insuring the cannabis beverage boom here.

Top Pet Insurance Claims of 2025

About 66% of U.S. households own a pet—a big jump from 56% in 1988. While pets bring joy, they also come with costs. Annual expenses average around $1,400 for dogs and $1,150 for cats, and emergency care can send those numbers soaring.

To protect their wallets, many pet owners turn to insurance, with monthly premiums averaging $53 for dogs and $32 for cats. Rising vet bills make it easier to justify, especially when top claims have reached over $60,000. PropertyCasualty360 outlines the top pet insurance claims here.

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

Happy Wednesday! In this week's Big I Buzz: Wisconsin lawmakers will consider expanding PTSD law. Plus, US health insurers jump as 2026 Medicare payment rates exceed expectations.

Wisconsin Lawmakers to Consider Expanding PTSD Law

Wisconsin lawmakers are considering a new bill that would extend workers’ compensation eligibility for post-traumatic stress disorder (PTSD) to a broader group of first responders.

Currently, only firefighters and law enforcement officers are covered under a standard that does not require their PTSD to stem from unusually high stress. Senate Bill 168 would add emergency medical responders, EMS practitioners, volunteer firefighters, correctional officers, dispatchers, coroners, and medical examiners to the list. Read more here.

US Health Insurers Jump as 2026 Medicare Payment Rates Exceed Expectations

The U.S. government has finalized a 5.06% average increase in 2026 Medicare Advantage payment rates, more than doubling the initially proposed 2.2% from January. This substantial hike is expected to benefit major insurers like UnitedHealth Group, Humana, and CVS Health, allowing for enhanced plan benefits and improved profitability. Following the announcement, Humana's stock surged 11.5%, while CVS Health saw a 6.7% increase. The Centers for Medicare & Medicaid Services (CMS) attributed the updated rate to more comprehensive cost data through Q4 2024, reflecting the Trump administration's strong support for the Medicare Advantage program. Read more here.

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

Happy Wednesday! In this week's Big I Buzz: Nine states are taking action to reform third-party litigation financing, while Tesla owners may face rising insurance rates due to targeted vandalism.

Nine States Pursue Third-Party Litigation Reform

Third-party litigation financing—when outside firms fund lawsuits they believe have a strong chance of success—is facing increased scrutiny across the U.S. These funding companies support a variety of commercial and consumer claims, including cases involving trucking incidents. Truck drivers, their employers, and insurers often bear the brunt of excessive and costly litigation related to personal injury claims, creating ripple effects throughout the supply chain. In response, states from Montana to West Virginia have implemented measures to curb litigation financing, with several others now considering similar reforms. Read more here.

Targeted Teslas Could See Insurance Rates Rise

Tesla owners may see rising insurance premiums as acts of vandalism against the brand continue to surge. Protests against Elon Musk—sparked by his role in the federal government’s DOGE initiative—have led to attacks on Tesla vehicles, dealerships, and charging stations. Reports detail cars being spray-painted, set on fire, and having their tires slashed. While many incidents have occurred at dealerships, individual Tesla owners have also been affected. If the trend persists, insurers may adjust rates to account for increased risks related to theft and vandalism. Read more here.

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