Insurance Level News and Press

AM Best Rating Acitivity and News

AM Best Revises Outlooks to Positive for Genworth Financial Group’s Members; Affirms Credit Ratings of Genworth Financial, Inc. and Genworth Life and Annuity Insurance Company
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “b+” ...
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Source: BestWire

Weekly Calendar: Key Economic Releases This Week, NAMIC's 130th Annual Conference
Markets will be watching key economic releases this week, including the U.S. Bureau of Economic Analysis’ advance look at gross domestic product and corporate profits and upcoming U.S. jobs data from ...
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Source: BestWire

Aon Launches Specialist Claims Solutions Unit
Aon plc launched a unit called Specialist Claims Solutions it said aims to help insurers navigate a complex claims landscape and reduce loss ratios.  The broker also formed an exclusive ...
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Source: BestWire

Mosaic Insurance Offers $20 Million Capacity With Blended Cyber, Financial Cover
Mosaic Insurance said it is offering up to $20 million in capacity per risk in a new modular form through customized "blended" financial and cyber coverage for the North American and Bermuda ...
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Source: BestWire

The Society of Actuaries CEO Announces Retirement
The Society of Actuaries announced the planned retirement of Greg Heidrich, who has served as chief executive officer since 2007. Heidrich is scheduled to retire by summer 2026. He will remain ...
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Source: BestWire

SiriusPoint Appoints Fidelis Exec as Global Head of Claims
SiriusPoint Ltd. appointed David Turner as global head of claims, effective Oct. 7. In this new role for the company, Turner will lead the global claims function, overseeing teams across London ...
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Source: BestWire

Swiss Re Merges Insurance-Linked Securities Units Into Single Platform
Swiss Re said it is strengthening its insurance-linked securities investment management offering by creating a single platform uniting its two ILS entities. The move brings together Swiss Re ...
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Source: BestWire

Marine Market Facing Challenges Amid War, Political Tensions, Industry Watchers Say
One of the biggest runs of losses ever, a soft market, and a fragmented trade environment have created challenges for the marine market, according to underwriters and other observers.  The ...
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Source: BestWire

AM Best Affirms Credit Ratings of Ethiopian Reinsurance S.C.
AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Ethiopian Reinsurance S.C. (Ethio Re) (Ethiopia). The outlook of these Credit ...
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Source: BestWire

AM Best Affirms Credit Ratings of Queen City Assurance, Inc. and Vine Court Assurance Incorporated
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Queen City Assurance, Inc. and Vine Court Assurance Incorporated, ...
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Source: BestWire

AM Best Announces NED Appointment to Boards of A.M. Best Europe Rating Services Ltd. and A.M. Best (EU) Rating Services B.V.
AM Best has appointed Robin Adam as an independent non-executive director (NED) to the boards of its Europe, Middle East and Africa (EMEA) region subsidiaries, A.M. Best Europe Rating Services Ltd. ...
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Source: BestWire

SPG, NormanMax Syndicate 3939, Miller Partner on Canadian Quake Parametric Cover
Specialty Program Group Canada is offering parametric earthquake coverage for commercial property owners under a partnership with NormanMax Syndicate 3939 and (re)insurance broker ...
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Source: BestWire

Progressive Monitors Florida Auto Profits for Potential Regulatory-Set Refund
Progressive Corp. is closely monitoring the possibility of a state-mandated excess profit refund to policyholders in Florida, where it is the largest personal automobile insurance writer. Private ...
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Source: BestWire

ICW Specialty Hires CUO for Newly Formed Business Unit
ICW Group Insurance Cos. hired Tracey Estes as chief underwriting officer of ICW Specialty, a newly formed business unit that includes VerTerra Insurance, ICW Group's excess and surplus lines ...
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Source: BestWire

Skyward Specialty Recruits Exec as President of Inland Marine and Transactional Property
Skyward Specialty Insurance Group Inc. has recruited Christopher Zitzmann as president of inland marine and transactional property. Zitzmann will lead the growth and innovation across the ...
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Source: BestWire

Utica Mutual Insurance Faces Bad Faith Lawsuit Over Failure to Settle in Sex Abuse Case
A New Jersey private school has filed a bad faith lawsuit against Utica Mutual Insurance Co., alleging the insurer refused to pay a settlement that was within policy limits in relation to a sex abuse ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Beetle That Threatens Australia’s Grains Industry Found in Imported Diapers
Australia has detected the larvae of khapra beetles in imported nappies sold in supermarkets nationwide, the agriculture ministry said, raising concerns the pest could infest grain storages and disrupt agricultural exports. The ministry said in a statement on Tuesday it …
Date: Thursday, September 18, 2025

People Moves: Allianz Commercial Names Stewart Head of Liability, N.A.; Alliant Hires Martin to Lead Alternative Risk Transfer
Allianz Commercial Appoints Stewart as North American Head of Liability Global insurer Allianz Commercial, with U.S. headquarters in New York City, appointed Mary Ann Stewart as regional head of liability, North America, effective September 22. Based in Chicago, Stewart will …
Date: Thursday, September 18, 2025

Climate Change Led to At Least 16,500 Heat Deaths in Europe This Summer
Climate change fueled scorching summer temperatures that killed an estimated 16,500 people in European cities this summer, pushing overall heat deaths to more than three times what might otherwise have occurred, according to a new study. The analysis presents an …
Date: Thursday, September 18, 2025

Bamboo Insurance and Accredited Partner to Expand Homeowners Coverage in California
Bamboo Insurance entered into a partnership with Accredited the companies say will provide availability and coverage options to homeowners across California. Bamboo’s E&S Signature product combines Bamboo’s tech-enabled underwriting platform with Accredited’s financial strength and specialty program expertise to deliver …
Date: Thursday, September 18, 2025

Storage Facility Employee Dies in Golf Cart Rollover
Police and rescue personnel in Marlborough, New Hampshire were dispatched earlier this month to the local Extra Space storage facility for a reported golf cart rollover and entrapment. The crews found the single occupant of the golf cart still pinned …
Date: Thursday, September 18, 2025

New York Executives Blast State Over Regulatory ‘Black Hole’
At a recent roundtable with New York executives, Heather Briccetti Mulligan remembers the frustration of a businessman who compared trying to file a permit for a $200 million construction project with ordering a pizza. The pizza could be tracked by …
Date: Thursday, September 18, 2025

New York Financial Firm Invests $37.4 Million in New Jersey MGA Leap
Syracuse, New York based financial services firm Community Financial System, Inc. is expanding its commitment to insurance by investing $37.4 million in the insurance business of Leap Holdings, Inc. Leap’s wholly owned subsidiary, Leap Insurance Agency of Jersey City, New …
Date: Thursday, September 18, 2025

People Moves: IMA Appoints Boothroyd Chief People Officer; bolt Names Scott Head of Strategy and Industry Verticals
IMA Financial Group Appoints Boothroyd as Chief People Officer IMA Financial Group, Inc. named Greg Boothroyd chief people officer. He leads IMA’s people strategy, focusing on programs and practices that invest in talent, preserve the firm’s core mission and address …
Date: Thursday, September 18, 2025

Update: SEC Hands Victory to IPO Issuers Who Want to Avoid Class-Action Lawsuits
The U.S. securities regulator on Wednesday said it would allow companies seeking to go public to require that investors resolve claims of fraud or other false statements through arbitration rather than court litigation, handing a victory to companies and weakening …
Date: Thursday, September 18, 2025

Jefferson Parish’s Improved Flood Rating to Bring Cost Savings for Residents
Residents of Jefferson Parish, Louisiana could soon see a reduction in flood insurance premiums, after the parish improved its class rating for the National Flood Insurance Program (NFIP). Jefferson Parish’s Community Rating System (CRS) will improve from a Class 5 …
Date: Wednesday, September 17, 2025

Texas Drops Suit Against Doctor Accused of Illegal Care for Transgender Youth
One of the nation’s first doctors accused of illegally providing care to transgender youth under GOP-led bans was found to have not violated the law, Texas Attorney General Ken Paxton’s office says, nearly a year after the state sued the …
Date: Wednesday, September 17, 2025

Michigan Auto Parts Manufacturer Sued for Discrimination
An auto parts manufacturer with a facility in Plymouth, Michigan, violated federal law when it refused to allow an older, female worker with a disability to re-enter its apprenticeship program, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a …
Date: Wednesday, September 17, 2025

Illinois Man Admits to Starting Fire at a Gas Station
A Belleville, Illinois man appeared in federal court to admit to an arson charge for setting a fire in a Lebanon gas station bathroom. Carlos A. Rodriguez, 33, pleaded guilty to one count of arson of real property used in …
Date: Wednesday, September 17, 2025

SEC Poised to Review IPO Bar on Mandatory Shareholder Arbitration
Wall Street’s top regulator will on Wednesday consider a policy change that could allow companies going public to force shareholders to resolve disputes in private arbitration rather than through court litigation, in a major shift that could weaken investor rights. …
Date: Wednesday, September 17, 2025

People Moves: Arch Insurance Taps AXA XL’s Martins as Head of Executive Assurance for France; DUAL Europe Announces Key Cyber Appointments
This edition of International People Moves details appointments at Arch Insurance and DUAL Europe. A summary of these new hires follows here. Arch Insurance Taps AXA XL’s Martins as Head of Executive Assurance, France Arch Insurance announced the appointment of …
Date: Wednesday, September 17, 2025

Insurance Industry Reps Back Reauthorization of Federal Terrorism Backstop
Marsh McLennan lost 358 employees in the terrorist attack on the World Trade Center on Sept. 11, 2001, and in Washington today Michelle Sartain, who has worked at Marsh for more than 28 years, encouraged lawmakers to reauthorize the Terrorism …
Date: Wednesday, September 17, 2025

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