Insurance Level News and Press

AM Best Rating Acitivity and News

New Mexico Insurance Superintendent More Than Doubles Residential Fair Plan Property Limits
Absent action by the state legislators, New Mexico Superintendent of Insurance Alice Kane more than doubled the maximum residential property limit for NM Fair Plan protected policies, from $350,000 ...
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Source: BestWire

AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Vision Service Plan and Its Subsidiaries
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” ...
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Source: BestWire

Integrity Names Chief Operating Officer
Said Taiym was named chief operating officer for Integrity LLC, a distributor of life and health insurance and provider of wealth management and retirement planning solutions. In his new role, ...
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Source: BestWire

Connecticut Regulator Seeks Multiple Options for PHL Variable Policyholders
Connecticut Insurance Commissioner Andrew Mais is asking the Connecticut Superior Court to modify a moratorium on PHL Variable Insurance Co. policies to address concerns by policyholders about access ...
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Source: BestWire

Hiscox Names Former Capgemini Exec as COO
Specialist insurer Hiscox appointed Adam Denninger chief operating officer. He will also serve on the Hiscox U.S. leadership team. In his new role, Denninger will lead Hiscox USA’s operations ...
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Source: BestWire

Tokio Marine's WorldTrips Appoints New CEO
Tokio Marine HCC named Philip Hsia to succeed Mark Carney as chief executive officer of travel insurance carrier WorldTrips. Carney will take on the role of chairman, where he will continue to ...
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Source: BestWire

Aon: European Storms Losses Could Hit Hundreds of Millions of Euros
Western and central European insurers incurred hundreds of millions of euros in estimated losses after severe convective storms struck on June 30 and again on July 2-3, according to Aon. The ...
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Source: BestWire

Liberty Specialty Markets Names President, Europe
Liberty Specialty Markets, a part of Liberty Mutual Insurance Group, named Pierre-Edouard Fraigneau as president, Europe. Effective Sept. 1, Fraigneau will be involved in developing Liberty's ...
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Source: BestWire

Australia Trade Group Opposes Extension of Tasmania’s State-Owned Carrier
The Insurance Council of Australia is warning of the unintended consequences of a proposal from Tasmanian lawmakers to extend the coverage types offered by a state-owned insurance ...
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Source: BestWire

Molina Anticipates $259 Million 2Q Net Loss as Health Care Expenses Rise
Molina Healthcare Inc. anticipates a $259 million net loss in the second quarter, compared with a $301 million net income in the prior-year period, saying the preliminary results reflect medical cost ...
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Source: BestWire

Willis Launches $200 Million Cargo Facility Covering Geopolitical Risks
Willis launched a $200 million facility called "Undercover" it said combines coverage for a range of geopolitical exposures for cargo owners worldwide. The WTW business developed the joint ...
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Source: BestWire

Best’s Insurance Law Podcast Examines How to Assess Security and Safety in Schools
AM Best and Best’s Insurance Professional Resources have released the latest installment of the Best's Insurance Law Podcast series, which examines timely insurance issues from a legal perspective. ...
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Source: BestWire

Best’s Market Segment Report: AM Best Maintains Stable Outlook on Global Cyber Insurance Segment
AM Best is maintaining its stable outlook on the global cyber insurance segment, as demand for coverage remains strong and is anticipated to persist. The Best’s Market Segment Report, “Market ...
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Source: BestWire

Industry Watchers Applaud Tax Bill as Health Sector Frets ACA, Medicaid Changes
On July 4, President Donald Trump signed the One Big Beautiful Bill, reaffirming the corporate tax rate set in his first term and making several other significant changes to lower tax liabilities, ...
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Source: BestWire

Atradius Announces Changes to Management Board
Atradius announced changes to the composition of their management board, effective Sept. 1. Andreas Tesch has been named chief risk officer. He is succeeding Christian van Lint, who is stepping ...
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Source: BestWire

MS Amlin Names Head of Natural Resources
MS Amlin has named Nicola Harris to lead natural resources in August. In her new role, Harris will be responsible for leading the efforts of a team that supports a diverse range of clients ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Online Ticket Seller to Pay $85K for Violating Connecticut’s New Data Privacy Law
Connecticut Attorney General William Tong announced a settlement with TicketNetwork, Inc. as a result of an investigation into violations of the Connecticut Data Privacy Act. Under the settlement, TicketNetwork has agreed to comply with the requirements of the CTDPA, maintain …
Date: Wednesday, July 9, 2025

Markets/Coverages: Markel Launches Pre-Loss Services for UK Cyber Clients
Markel Insurance, the insurance operations within Markel Group Inc., announced the launch of its pre-loss services for UK Cyber360 policyholders. These new offerings include a complimentary one-hour call with an experienced cyber and data risk lawyer from Markel Law to …
Date: Wednesday, July 9, 2025

Credit Fund’s Collapse Leads to $1 Billion Lawsuit Against EY
Bridging Finance Inc.’s receiver is suing Ernst & Young LLP for C$1.4 billion ($1 billion), alleging the auditor failed to detect fraud and misstatements that contributed to the Toronto private lender’s collapse. In a claim filed with Ontario’s Superior Court …
Date: Wednesday, July 9, 2025

Three Killed in Houthi Attacks on Cargo Ships, One Vessel Sinks in Red Sea
Houthi attacks on cargo ships in the Red Sea killed three crew members, sank one vessel, and left a second without propulsion in signs the Tehran-backed group is once again escalating assaults in the vital trade route. The attacks resulted …
Date: Wednesday, July 9, 2025

UK Companies Should Have to Disclose Major Cyberattacks, M&S Says
British businesses should be legally required to report material cyberattacks to the authorities, the chairman of retailer Marks & Spencer said on Tuesday, claiming two recent major attacks on large UK firms had gone unreported. Giving evidence to lawmakers on …
Date: Wednesday, July 9, 2025

No Alerts Heard in Deadly Texas Flash Flood as 161 Still Missing
In the early hours of July 4, the only sound many of the vacationers along the banks of the Guadalupe River would have heard was pounding rain and thunder. They didn’t get any official warning of the rapidly rising waters …
Date: Wednesday, July 9, 2025

Time to Change North Carolina’s Unique (and Antiquated) Rate Bureau System?
Insurance markets differ in important ways from state to state, and North Carolina’s stands out for two reasons. First, insurers responded to an exceptionally catastrophic storm in 2024—Hurricane Helene. The Tar Heel State bore $60 billion of the hurricane’s $80 …
Date: Wednesday, July 9, 2025

California Fails to Stop 23andMe Founder From Re-Acquiring Firm Amid Privacy Concerns
Genetic testing company 23andMe can proceed with a $305 million sale to the company’s co-founder Anne Wojcicki after a U.S. bankruptcy judge rejected California’s bid to delay the sale while the state appeals over privacy concerns related to the deal. …
Date: Wednesday, July 9, 2025

People Moves: ReSource Pro Appoints Hugh as CFO
ReSource Pro, headquartered in New York City, appointed Eugene “Gene” Hugh as chief financial officer (CFO). Hugh will lead the company’s accounting, financial planning and analysis, tax, treasury, legal, and mergers and acquisitions functions. He also plays a key role …
Date: Wednesday, July 9, 2025

Viewpoint: Rising False Advertising Claims Reveal Major Coverage Protection Gap
The steady rise in false advertising claims against consumer-facing companies has exposed a major insurance protection gap. The drivers of these legal actions are many and varied and include consumers’ growing – and regularly-shifting – health preoccupations; sustainability concerns; patriotic …
Date: Wednesday, July 9, 2025

Barnard College Settles Lawsuit Brought by Jewish Students
Barnard College has settled a lawsuit that accused the college of not doing enough to combat antisemitism on campus, agreeing to a litany of demands that include banning masks at protests and refusing to meet or negotiate with a coalition …
Date: Wednesday, July 9, 2025

Construction Supervisor Sentenced for Obstructing Probe of Employee’s Fatal Fall
A Blue Point, New York man has been sentenced to one year in prison and two years of supervised release after pleading guilty to conspiracy and obstruction of an investigation into a fatal construction accident, according to the U.S. Department …
Date: Wednesday, July 9, 2025

People Moves: LP Insurance Services Names Rossi Executive Chairman, Cushard CEO and President
Rossi Named Executive Chairman, Cushard Named CEO and President at LP Insurance Services LLC LP Insurance Services LLC named Founder and CEO Nick Rossi as executive chairman. Rossi, who founded the company in 2010, will maintain a role supporting client …
Date: Wednesday, July 9, 2025

Impostor Uses AI to Impersonate Rubio, Contact Foreign and US Officials
The State Department is warning U.S. diplomats of attempts to impersonate Secretary of State Marco Rubio and possibly other officials using technology driven by artificial intelligence, according to two senior officials and a cable sent last week to all embassies …
Date: Tuesday, July 8, 2025

People Moves: Hull & Company-Texas Promotes Wilkins, Hires Gambino to Underwriter/Broker Roles
Hull & Company-Texas, headquartered in Dallas, Texas, promoted Brandt Wilkins to underwriter/broker. Wilkins has an extensive background in the commercial wholesale business. He has been with Hull Texas for the last three years managing a book with emphasis in the …
Date: Tuesday, July 8, 2025

People Moves: Leadership Transition at WorldTrips as Hsia Appointed CEO; Carney Assumes Role of Chairman
Tokio Marine HCC, based in Houston, Texas, announced a key leadership transition at its travel-focused subsidiary, WorldTrips, a leading provider of travel insurance located in Carmel, Indiana. Mark Carney will transition from his role as CEO of WorldTrips to become …
Date: Tuesday, July 8, 2025

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