(Bloomberg) -- US insurance-related stocks rallied Tuesday, pushing an industry gauge to a record, as artificial intelligence concerns drove traders toward defensive parts of the market. Combined with mounting geopolitical tensions, investors have increasingly gravitated toward defensive sectors like insurance, steering away from megacap stocks that have powered much of this year's stock market advance. Palazola said that while the rally has been driven by insurance carriers, "brokers are also bouncing off near-term low valuations." The group was hit earlier in the year on fears that brokers could be disrupted by AI. Most Read from Bloomberg Businessweek©2026 Bloomberg L.P.