Insurance Level News and Press

AM Best Rating Acitivity and News

New Medical Malpractice Law Sparks Rate Filing Mandate in New Mexico
Medical professional liability carriers are being asked to make new rate filings with the New Mexico insurance regulator due to a new state law that caps punitive damages and is expected to reduce ...
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Source: BestWire

Great Lakes Insurance Sues Lawyers Over Alleged Courtroom Missteps
Great Lakes Insurance SE is suing an Oklahoma law firm over allegations of negligence during the litigation of a commercial property claim that ballooned from a $27,000 demand to a more than $92 ...
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Source: BestWire

Old Republic International Cleaves Off TPA Business to Form Standalone Lodestar Claims & Risk
Old Republic International Corp. has split off its third-party administrator business to create a standalone company. The move should expand Lodestar Claims & Risk Services Inc.'s visibility and ...
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Source: BestWire

Canopius Opens Global Operations Center in Manchester
Canopius Group Ltd. opened a permanent office in Manchester as a "center of operational excellence" for its global operational functions. The office will concentrate its expertise in technology, ...
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Source: BestWire

MGA Elitium Launches in UK for Manufacturing Businesses and Unoccupied Properties
Elitium, a managing general agent incubated by Mission Underwriters, has launched in the United Kingdom with a focus on manufacturing businesses and unoccupied residential and commercial ...
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Source: BestWire

Connecticut Senate Confirms New Insurance Commissioner
The Connecticut Senate confirmed John Hershman to serve as the state’s 34th insurance commissioner, the Connecticut Insurance Department said. Hershman has served as insurance commissioner on an ...
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Source: BestWire

Brace Underwriting Promotes Two Senior Underwriters
Brace Underwriting Ltd., a multiline and alternative risk specialist underwriter backed by Octave Specialty Group Inc., has promoted Richard Wheeler to head of underwriting, United States, and ...
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Source: BestWire

Perils Raises January Australia Bushfire Loss Estimate to $571.2 Million
Perlis AG raised it insured loss estimate for the Australia bushfires of Jan. 7-13 to A$810 million ($571.2 million). This is the second industry loss estimate for the Victoria bushfires, the ...
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Source: BestWire

MGA Novacore Announces Sidecar Backed by New Mountain Capital in Specialty Expansion
Specialty managing general agent Novacore said it has launched collateralized reinsurance vehicle NovaRe to in its first foray into the reinsurance market. NovaRe is supported by New York-based ...
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Source: BestWire

Aon Appoints Former Howden Exec as Chief Commercial Officer
Aon appointed Adam Reed as chief commercial officer of major, complex and enterprise clients for commercial risk in the United Kingdom. Reed will drive growth with Financial Times Stock Exchange ...
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Source: BestWire

ReThought CEO: Flood Insurance Gap 'A Ticking Time Bomb'
In the past 30 years, 99% of the counties in the United States have been hit by flood events, but only 4% of homeowners nationwide have flood insurance, according to the Federal Emergency Management ...
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Source: BestWire

Pool Re Launches SME Terrorism Cover Incentive Plan
Pool Re launched an incentive scheme for its members in Britain to increase terrorism insurance uptake among small and medium enterprises. Effective April 1, the scheme makes discounts available ...
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Source: BestWire

Best's Review Looks at Data Center Boom
In its April Issue, Best’s Review examines how insurers are expanding capacity and offering a range of coverage in response to the sharp, AI-driven increase in the construction of data ...
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Source: BestWire

AM Best to Deliver Reinsurance-Related Presentations to Shanghai International Reinsurance Exchange Members
AM Best will deliver a pair of presentations as part of a half-day seminar with members of the Shanghai International Reinsurance Exchange (SIRE), scheduled to take place on 22 April 2026, in ...
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Source: BestWire

Best's News: AM Best's First Look – 2025 US Life/Annuity Financial Results
A new Best's Special Report, discussed by AM Best Associate Director Jason Hopper, finds the 2025 net income for U.S. life/annuity industry rose to the highest level in the past five years, according ...
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Source: BestWire

Five Vying to Succeed Term-Limited Oklahoma Insurance Commissioner
A group of four Republicans and a Democrat are running to succeed Oklahoma Insurance Commissioner Glen Mulready, who has reached his term limit. Craig MacIntyre, the sole Democrat candidate, has ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Canadian Insurers Push Owners to Fortify Homes, Urge Carney to Prioritize Climate Risks
Worried about wildfires sending claims soaring this year, Canada’s property and casualty insurers are pushing owners to flood- and fire-proof homes and urging the government to take climate issues more seriously despite economic turmoil. Insurers Intact Financial, TD Insurance, Wawanesa …
Date: Tuesday, April 14, 2026

Tankers Pass Strait of Hormuz on First Day of US Blockade, Data Shows
A third Iran-linked tanker was entering the Gulf via the Strait of Hormuz on Tuesday on the first full day of the U.S. blockade on vessels calling at Iranian ports, shipping data showed. U.S. President Donald Trump announced the blockade …
Date: Tuesday, April 14, 2026

US, Iran May Resume Talks This Week Despite Port Blockade
Negotiating teams from the U.S. and Iran could return to Islamabad this week to resume talks to end the war, sources told Reuters on Tuesday, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports. …
Date: Tuesday, April 14, 2026

Bessent, Powell Warned Bank CEOs About Anthropic Model Risks, Sources Say
U.S. Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened an urgent meeting with bank CEOs this week to warn of cyber risks posed by Anthropic’s latest artificial intelligence model, two sources familiar with the matter said on …
Date: Tuesday, April 14, 2026

Trump Suit Over Wall Street Journal Epstein Story Dismissed
A judge threw out Donald Trump’s $10 billion libel suit against the Wall Street Journal and parent company News Corp., dealing a blow to the president’s ongoing campaign of litigation against the media. The decision Monday in federal court in …
Date: Tuesday, April 14, 2026

Here’s a List of Non-Iranian Oil Tankers Transiting Strait of Hormuz Since Start of War
The U.S. blockade on vessels entering or leaving Iranian ports adds to uncertainty over shipping through the Strait of Hormuz, which has been all-but-shut since the start of the Iran war. Ordinarily, roughly one fifth of global oil and gas …
Date: Tuesday, April 14, 2026

Uber Faces Second Driver Sexual Assault Trial Following $8.5M Verdict
After a key setback in the first trial of its kind before a federal jury, Uber is expected to return to court on Tuesday to face a second woman’s claims that she was sexually assaulted by a driver she booked …
Date: Tuesday, April 14, 2026

Data Centers Offer a Potential $10 Billion Windfall for Insurers
Soaring demand for insurance coverage related to data center construction is creating a “meaningful growth opportunity” for the industry, outstripping some traditional insurance markets, according to S&P Global Ratings. The market for such coverage could reach $10 billion in premiums …
Date: Tuesday, April 14, 2026

Austria Races to Secure Power Supplies as ‘Peak Water’ Looms
Austria’s economic model has long been anchored in Alpine water flowing through turbines to generate power for homes and businesses, but as climate change redraws the country’s hydrological map, it faces a structural shift and geopolitical tensions have heightened the …
Date: Tuesday, April 14, 2026

Florida Mobile Home Insurance Market Still Struggling With Premiums, Coverage
Florida regulators have extended their supervision of American Mobile Insurance Exchange for another 120 days—for the sixth time in two years—suggesting that a runoff of the once-dominant carrier’s policies may be taking longer than expected in a still-stressed Florida mobile …
Date: Tuesday, April 14, 2026

Report: California Has Largest Flood Coverage Gap in US
California has one of the largest flood insurance coverage gaps in the country, a new report shows. Neptune Flood released a new report showing residential flood insurance penetration across the state is 1.4%, despite 2.3 million properties facing flood risk …
Date: Tuesday, April 14, 2026

Federal Aid Available for Washington Residents Impacted by Floods
Federal disaster assistance has been made available for Washington residents impacted by the December 2025 floods. The Federal Emergency Management Agency made aid is available to people in the counties of Chelan, Grays Harbor, King, Lewis, Pacific, Pierce, Skagit, Snohomish, …
Date: Tuesday, April 14, 2026

Pennsylvania Approves 1.2% Workers’ Compensation Costs Reduction
Pennsylvania regulators have approved a decrease of 1.22% in loss costs for workers’ compensation insurance effective April 1. New or renewed policies issued on or after that date will reflect the updated loss costs. Because loss costs are factored into …
Date: Tuesday, April 14, 2026

Connecticut Senate Confirms Hershman as Insurance Commissioner
The Connecticut Senate has confirmed Josh Hershman as the state’s 34th insurance commissioner. Hershman has served as commissioner in an interim capacity since December 2025, replacing Andrew N. Mais who retired from state service last year after nearly seven years …
Date: Tuesday, April 14, 2026

Connecticut High Court: Injured Rental Car Occupants Covered for Uninsured Motorist
In a case involving a rental car hit by an uninsured motorist, the Connecticut Supreme Court has ruled that the auto insurance policy of the driver that extended bodily injury coverage to the rental car must also provide uninsured motorist …
Date: Tuesday, April 14, 2026

Prosecutor Identifies Victim in Fatal Shooting at New Jersey Chick-Fil-A
Officials in Union Township, New Jersey released the identity of the individual killed during Saturday night’s shooting at Chick-Fil-A on Route 22. The deceased has been identified as Malek Shepherd, age 23, of New York City, according to the Union …
Date: Monday, April 13, 2026

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