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Monday briefing: Social Security scam warning; easier replacement card process; AARP expert retirement strategies; and more
Catch up in minutes with your daily briefing on the Social Security, Medicare & Retirement news that affects you most.
What to Know for Monday, March 2, 2026:
1: Delete every Social Security message you receive—here's why and what to do instead
(Image credit: Getty Images)
Fraud is skyrocketing during tax season: Americans lost $12.5 billion to fraud in 2024 (25% increase from 2023), with imposter scams targeting government agencies causing $789 million in losses — scammers send fake alerts claiming your benefits are "suspended," account has "unusual activity," or identity needs "verification" to create panic and steal personal information.
Two-step protection: delete then verify: Immediately delete any unsolicited text, email, or popup claiming to be from Social Security — then go directly to SSA.gov and sign into your My Social Security account to independently verify if there's actually an issue, avoiding the risk of clicking malware links or alerting scammers your contact is active.
Phone calls require caution: Don't hang up immediately since SSA does make legitimate calls, but never give personal information (Social Security number, birth date, employment history) during the call — instead, ask why they're calling and which department, then hang up and call the agency back using a verified phone number to confirm legitimacy.
2: Getting a replacement Social Security card just got easier with new online process
(Image Credit: AARP)
Apply online first: Visit the SSA website, select your situation (first-time application, replacement, or stolen number), and apply online — your claim will either be processed entirely online or you'll be redirected to an in-person office appointment if documents are needed.
Mobile check-in available: If you need an in-person appointment, you can now use mobile check-in by scanning a QR code and turning on notifications — you'll be alerted when someone is ready to assist you, eliminating long waits at the office.
Fast delivery: Once your application is processed (online or in-person), you'll receive your new Social Security card within 10 business days — check the SSA website for the list of required documents if you need an in-person appointment.
3: AARP and financial expert explain Social Security timing and 401(k) strategies for retirement
(Image credit: Getty Images)
Waiting until 70 pays 77% more than claiming at 62: Using the SSA's example, a worker with a full retirement age of 67 and a $2,000 monthly benefit would receive only $1,400 at age 62 (30% reduction), $2,000 at 67, or $2,480 at 70 — that's a $1,080 monthly difference between claiming early versus delaying, and the early reduction is permanent.
Couples should coordinate their claiming strategy: Jean Chatzky advises married couples to evaluate who should delay claiming based on expected longevity — optimizing the higher-earning spouse's benefit can strengthen the household's long-term financial picture, especially since the survivor will receive the higher of the two benefits.
New 401(k) features add retirement security: SECURE 2.0 introduced emergency savings accounts (up to $2,500 for short-term needs without tapping retirement funds) and in-plan annuities that convert savings into guaranteed monthly income for life — plus auto-escalation now automatically increases contributions by 1% annually unless you opt out, helping you save more without thinking about it.
This newsletter is for information only. Always confirm your options directly with Social Security, Medicare, Medicaid, or a qualified advisor before making big decisions about your benefits.
Munich Re slashes retrocession, scraps sidecars, shows ambition to retain reinsurance profits Munich Re has demonstrated the power of a large diversified reinsurance and insurance group in beating its profit target for 2025, while showing its desire to retain more of the economics of its re/insurance business by slashing its retrocession arrangements and scrapping its collateralized reinsurance sidecar programme.
Catastrophe bond issuance already projected at near $5.86bn in Q1 2026 Catastrophe bond issuance is on track to make this first-quarter at least the second busiest start to any year on record, with Artemis' Deal Directory data already projecting close to $5.86 billion of cat bond issuance for Q1 2026, only falling behind the total from last year at this stage.
Allstate secures $1.2bn reinsurance with new Sanders Re cat bonds, its largest placement ever Allstate has now successfully priced its new catastrophe bonds to provide the largest amount of reinsurance limit it has ever secured in a single visit to the market, with $1.2 billion of multi-peril reinsurance confirmed from the dual issuances of Sanders Re IV Ltd. (Series 2026-1A) and Sanders Re III Ltd. (Series 2026-1B) cat bond series.
Heritage returns with $250m target for new Citrus Re 2026-1 named storm cat bond Heritage Insurance Holdings, Inc., a nationally expansive US property and casualty insurer headquartered in Florida, is back in the catastrophe bond market again with an initial target to secure $250 million or more in collateralized US named storm reinsurance from a Citrus Re Ltd. (Series 2026-1) issuance.
Swiss Re reports strong profits, stable renewals, reduces external nat cat retro Swiss Re has reported strong profits and hitting its financial targets for 2025, as well as a relatively stable premium volume for the key January reinsurance renewals. Demonstrating the profitability of the reinsurance business the company will now return more capital to its shareholders, but is a second major player to opt for less retrocession for 2026.
Northern Re's platform scales to $325m capacity following $150m capital raise Northern Re, the collateralized reinsurance company that provides investors with access to the returns of its long-tail casualty underwriting business, has announced raising an additional $150 million in committed capital from existing and new institutional investors, which now brings the company's total platform capacity to $325 million.
TWIA Board opts to only buy reinsurance and cat bonds up to 1-in-50 year PML in 2026 At a meeting held in Galveston, the Texas Windstorm Insurance Association (TWIA) Board agreed to only pursue purchase of the statutory minimum amount of reinsurance and catastrophe bonds needed to hit the 1-in-50 year funding level in 2026, opting not to buy any additional risk transfer to cover higher return period events.
Institutional ILS demand surges, investment manager selection remains key: bfinance With the insurance-linked securities (ILS) sector continuing to expand, institutional investor appetite within the space has been resurgent. A new paper from consultancy firm bfinance acknowledges that manager selection within the market involves distinct challenges, with unique investment risks and notable operational complexity to consider.
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Artemis London 2026 - September 1st
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