Insurance Level News and Press

AM Best Rating Acitivity and News

Best's News: AM Best Finds Florida Reforms Are Positive Developments; Underwriting Discipline Essential
AM Best Senior Financial Analyst Lauren Magro highlights new research that finds the Florida property insurance market has become increasingly manageable due to recent legislative reforms, along with ...
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Source: BestWire

Liberty Mutual Expands Personal Auto Shopping to ChatGPT
ChatGPT users in seven states can shop for Liberty Mutual Insurance automobile insurance, which said it has the first carrier-backed conversational AI auto quoting application. The quotes, based ...
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Source: BestWire

State Farm Changing Agent Terms, Benefits While Investing in 'Human Plus Digital' Approach
State Farm is changing agent contract terms, including health insurance, as it invests in a "human plus digital" approach. It is moving to "one consistent compensation structure across agents" ...
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Source: BestWire

Howden Denied Intervenor Status in Producer’s Noncompete, Nonsolicitation Lawsuit
A federal court denied a request from Howden US Services LLC to intervene in a lawsuit accusing one of its producers of violating noncompete and nonsolicitation agreements when he defected from ...
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Source: BestWire

AM Best Affirms Credit Ratings of Republic Insurance Company (Cayman) Limited
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Republic Insurance Company (Cayman) Limited (Republic Insurance) (Cayman ...
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Source: BestWire

Iowa: New Captive Insurance Rules Keep State at Forefront, Tap Department’s Life Expertise
Iowa’s recently enacted captive insurance laws will help maintain the state’s status as a cutting-edge domicile and draw on the insurance department’s expertise in life insurance, said Insurance ...
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Source: BestWire

MassMutual to Reinsure $16 Billion in Fixed Universal Life Policies With Nationwide
Massachusetts Mutual Life Insurance Co. will reinsure a block of fixed universal life policies that have a combined face value of $16 billion with Nationwide Mutual Insurance Co. MassMutual said ...
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Source: BestWire

Convex Approved for New Lloyd's Syndicate Targeting Casualty Lines
Convex Group Ltd. said it gained in-principle approval from Lloyd's to launch Syndicate 1987 targeting long-tail casualty business. The new syndicate intends to begin underwriting on July 1, ...
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Source: BestWire

Weekly Podcast Highlights - May 29
Among this week's insurance podcast highlights, CIRCA's chair discusses the outlook for Cayman's reinsurance market and AM Best discusses results of an insurer survey about artificial ...
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Source: BestWire

Insurance Australia Settles Greensill Bank Claims Worth $2.86 Billion
Insurance Australia Group said its Insurance Australia Ltd. unit reached a settlement in proceedings with A$4 billion ($2.86 billion) in value brought by Greensill Bank AG and its insolvency ...
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Source: BestWire

Presurance Affecting 1-for-7 Reverse Stock Split as Per-Share Price Lingers Below $1
Presurance Holdings Inc. said it will affect a 1-for-7 reverse stock split at the beginning of June as its per-share price lingers below $1. Stockholders a year earlier approved a potential ...
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Source: BestWire

AM Best Affirms Credit Ratings of Halyk-Life, JSC
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of ...
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Source: BestWire

AM Best Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Symetra Life Insurance Company and its subsidiary, ...
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Source: BestWire

AM Best: Florida Reforms Are Positive Developments; Underwriting Discipline Essential
AM Best Senior Financial Analyst Lauren Magro highlights new research that finds the Florida property insurance market has become increasingly manageable due to recent legislative reforms, along with ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of AmTrust Assicurazioni S.p.A.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of AmTrust Assicurazioni S.p.A. (AmTrust Assicurazioni) (Italy). The ...
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Source: BestWire

AM Best Affirms Credit Ratings of Euro Accident Livförsäkring AB
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Euro Accident Livförsäkring AB (Euro Accident) (Sweden). The outlook ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Europe Faces Biggest Food Price Shock in G7 From Hotter World
A global food crunch due to extreme weather would boost prices more in the euro area than in Group of Seven economies, according to Oxford Economics. A “severe” shock to food prices from climate events could raise food prices in …
Date: Monday, June 1, 2026

Israel Expands Lebanon Assault With Iran-US Talks in Balance
Israel expanded its ground assault in Lebanon with its broadest incursion into the country in a quarter-century as Hezbollah — Iran’s most powerful regional ally — stepped up attacks on Israel’s north. According to the Israeli military, Hezbollah fired more …
Date: Monday, June 1, 2026

SEC Moves to Scrap Biden-Era Rule on Climate Risk Disclosures
The US Securities and Exchange Commission wants to formally kill rules it’s now calling a “dramatic overreach” of its own authority that would have required public companies to report greenhouse gas emissions and climate-related risks to their operations. The 2024 …
Date: Monday, June 1, 2026

Roof Costs Soar Even as Claims Decline: Verisk
Hail volatility and aging roofs are driving higher residential replacement severity, a new study by data analytics and technology provider Verisk finds. Roof losses didn’t slow despite a 20 percent decline in overall claims volume in 2025. Data showed that …
Date: Monday, June 1, 2026

Verizon DBIR Says Software Vulnerabilities Aren’t Being Patched Quick Enough
Hackers are still trying to trick people to exploit an organization’s systems, but more breaches now with software vulnerabilities Stolen passwords, or credential abuse, are no longer the top way hackers breach systems, according to Verizon’s latest annual Data Breach …
Date: Monday, June 1, 2026

Entrepreneur’s Suit Says My Safe Florida Home Hurricane Shutters Are Fire Hazards
As the 2026 hurricane season blows in today and a state-funded wind-mitigation program remains as popular as ever, a Florida entrepreneur named John Smith wants a word. The My Safe Florida Home program, providing matching grants for window and door …
Date: Monday, June 1, 2026

Southern California Property Fight That Hit Several Banks Spurs $1.34B Award
A years-long dispute over a portfolio of commercial properties in Southern California that sparked credit concerns at several banks last year has led to a roughly $1.34 billion arbitration award. Real estate owner Mohammad Honarkar was “fraudulently induced” into doing …
Date: Monday, June 1, 2026

San Francisco Rents Spike 22% in a Year, Far Outpacing Other US Cities
In San Francisco’s latest real estate boom, renters are paying cash up front, multimillion-dollar houses are selling auction-style and AI company stock can buy a sprawling hilltop estate. It’s a reflection of the new wave of wealth from the artificial …
Date: Monday, June 1, 2026

Insurance Platform Corgi Valued at $2.6B in Funding Round
AI insurance platform Corgi said on May 28 it raised $106 million in a funding round led by investment firm TCV that valued it at $2.6 billion. The funding round underscores strong investor appetite for startups using artificial intelligence to …
Date: Monday, June 1, 2026

Bus Hits Cars in Virginia, Killing 5 Massachusetts People and Injuring 34
A bus crashed into vehicles slowing for a work zone on Interstate 95 in Virginia early Friday, killing five people and injuring dozens, including the driver, authorities said. The crash happened at about 2:35 a.m. on southbound I-95 in Stafford …
Date: Monday, June 1, 2026

Illinois Passes Legislation to Give Insurance Department Oversight of Rate Changes
Illinois lawmakers this week passed a pair of bills that gives the insurance department the authority to review homeowners and auto rate filings to determine whether they are excessive. The insurance industry has heavily opposed the legislative measures, warning that …
Date: Friday, May 29, 2026

Kentucky Food-Color Plant Was ‘Catastrophe Waiting to Happen,’ CSB Says
A Kentucky food-coloring manufacturer made a number of missteps and was not equipped to prevent the 2024 runaway chemical reaction that killed two workers and caused millions of dollars in damage to the plant and surrounding neighborhoods. That was the …
Date: Friday, May 29, 2026

Corpus Christi Focuses on Delaying Looming Water Crisis
Five straight years of record heat, sporadic rainfall and divided leadership has Corpus Christi in danger of becoming the first U.S. city to run short of water. Only rain — lots of it — can keep the coastal city from …
Date: Friday, May 29, 2026

Reinsurers Bring Strong Risk Appetite to Florida’s June Renewals: Guy Carpenter
Legal reforms, improved building resilience, and disciplined underwriting have combined to restore confidence in the Florida re/insurance market – leading to increased capacity as well as improved terms and pricing during the June reinsurance renewals, according to Guy Carpenter. Since …
Date: Friday, May 29, 2026

Americans Doubt Countries Will Do Enough to Tame Climate Change
Climate change is in the background this US election year as high prices, conflict in the Middle East, AI and other issues take center stage. But that doesn’t mean the public has forgotten about it. More than half of Americans …
Date: Friday, May 29, 2026

Ships Attacked in Strait of Hormuz This Week, Chevron CEO Says
Several vessels transiting through the Strait of Hormuz have been attacked in recent days, underscoring the “very real” risks that remain for shipowners in the Persian Gulf whether or not a peace accord is signed, Chevron Corp. Chief Executive Officer …
Date: Friday, May 29, 2026

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