Insurance Level News and Press

AM Best Rating Acitivity and News

Multiple Line Insurer Plateau Plans Expansion After Rebranding as Lumos
Multiple line insurer the Plateau Group has rebranded as Lumos Insurance after strengthening its systems, operations and governance. "Now we're ready to grow responsibly in both our core markets ...
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Source: BestWire

Howden US Hires Lockton Exec as Managing Director, Alternative Risk and Captives
Howden, a global insurance broker, appointed Philip Stack as managing director, alternative risk and captives, Howden U.S. In his new role, Stack will advise clients on optimal insurance program ...
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Source: BestWire

Kansas Insurance Regulator: Storm-Claim Costs Nearly Doubled Since 2023
The amount paid by insurers in Kansas to cover damage from severe storms nearly doubled from 2023, reaching $879.07 million in 2025, the insurance regulator said. This past year saw a total of ...
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Source: BestWire

AmMetLife Berhad Appoints Chief Executive
AmMetLife Insurance Berhad appointed Wan Saifulrizal Wan Ismail to succeed Rangam Bir as the company’s chief executive officer. Bir has left the company to pursue other opportunities. Wan has ...
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Source: BestWire

Heritage Fourth-Quarter Combined Ratio Improves; CEO Says Florida Market 'Very Profitable'
Fourth-quarter net income tripled at Heritage Insurance Holdings Inc. to $66.7 million, boosted by a 27.7-point improvement in the combined ratio. Florida is "very profitable" and profits are up ...
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Source: BestWire

Oklahoma Regulator Approves CompSource Reorganization Plan Amidst Legal Challenge
The Oklahoma Department of Insurance approved a plan that will see CompSource Mutual Insurance Co. convert to a stock insurer, a move that has drawn legal challenges. The conversion would allow ...
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Source: BestWire

Lockton China Hires Aon Exec as Chief Executive
Lockton hired Livy Dai as the new chief executive officer of Lockton China, based in Shanghai. Livy has almost 30 years of risk management and insurance brokerage experience. His expertise spans ...
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Source: BestWire

State Farm Strikes Three-Party Settlement on California Emergency Rate Request
The California insurance regulator, the consumer intervenor and State Farm General Insurance Co. have reached a settlement agreement for the insurer’s emergency interim rate request, which will ...
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Source: BestWire

New York Lawmakers Mulling Assignment of Benefits Prohibitions
A bill was introduced in the New York Senate that would limit and eventually prohibit post-loss assignment of benefits agreements, which the state insurance trade said can remove policyholders from ...
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Source: BestWire

MGA Dual in Partnership With Liberty Mutual Unit on Property, Financial Lines in Latin America
Managing general agent Dual said its Latin America business has entered into a partnership with a unit of Liberty Mutual Insurance Group on property and financial lines in the growing ...
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Source: BestWire

Santam Raises 2025 Profit, Trims Specialty Premiums on Soft Rates
Santam Ltd. posted a 10% rise in 2025 net income on improved underwriting margins in both personal and commercial lines as catastrophe losses moderated and international premiums rose 14%. All ...
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Source: BestWire

Generali Sells Irish Property/Casualty Operations to Zurich for $389.6 Million
Generali Group said it agreed to sell its Irish and Northern Irish property/casualty operations, to Zurich Insurance Europe AG and Zurich Insurance Co. Ltd.'s U.K. branch for €337 million ($389.6 ...
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Source: BestWire

Best’s Special Report: Catastrophe Bond Market Growth Accelerates as Loss Multipliers Compress
A new AM Best report suggests that the insurance-linked securities (ILS) market will continue to grow in 2026, perhaps at a slower rate than last year with investors taking profits instead of ...
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Source: BestWire

Best's News: Rising Gold Prices Spur Under-Insurance, Claims Severity for Insurers
Rising gold prices have proven thorny for the insurance industry and its consumers to navigate, as the pace of the increases opens a gulf between policy limits and replacement costs, according to ...
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Source: BestWire

Florida Senate Passes Bill Allowing Surplus Carriers to Assume Commercial Citizens Policies
The Florida Senate passed legislation that would create a clearinghouse for Citizens Property Insurance Corp. commercial policies and allow surplus lines insurers to participate in the depopulation ...
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Source: BestWire

Aon Appoints Global Head of Analytics for Reinsurance Solutions
Aon plc named George Attard as global head of analytics for reinsurance solutions, in addition to his role as chief strategy officer for reinsurance solutions. In his expanded role, Attard will ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

How US-Israeli War on Iran Is Upending Global Business
The U.S.-Israeli war with Iran is rattling businesses worldwide, driving up energy prices, squeezing supplies of critical raw materials and raising questions about the reliability of trade routes critical to the flow of goods from food to car parts. Below …
Date: Monday, March 9, 2026

People Moves: Mosaic Builds Financial Institutions, Professional Liability Teams
Mosaic Insurance, headquartered in Hamilton, Bermuda, made leadership hires to finpro lines across North America. In New York City, John Soular joined the company as senior vice president, miscellaneous professional liability. With more than 20 years of experience in professional …
Date: Monday, March 9, 2026

Edison Utility Defeats Shareholder Lawsuit Over LA Wildfires
The parent company of Southern California Edison won the dismissal of a lawsuit alleging it defrauded shareholders prior to the January 2025 Los Angeles-area wildfires by assuring it had significantly reduced the risk of losses from such catastrophes. Shareholders accused …
Date: Monday, March 9, 2026

Federal Appeals Court Denies Workers’ Compensation Claim for Cannabis Edibles
A construction worker who was permanently disabled on the job has been denied workers’ compensation coverage for cannabis-infused edibles prescribed by his doctor. The Second Circuit Court of Appeals has upheld the denial on the grounds that marijuana’s classification as …
Date: Monday, March 9, 2026

People Moves: AXA XL Taps QBE’s Weaver to Lead Energy, UK & Lloyd’s; Aon Re Names Attard Head of Analytics; BHSI Appoints AIG’s O’Broin for Transactional Liability
This edition of International People Moves details appointments at AXA XL, Aon Reinsurance, and Berkshire Hathaway Specialty Insurance (BHSI). A summary of these new hires follows here. AXA XL Taps QBE’s Weaver as Head of Energy, UK & Lloyd’s AXA …
Date: Monday, March 9, 2026

Tennessee’s The Plateau Group is Now Lumos Insurance
After 45 years under the name The Plateau Group, the Tennessee-based multi-line insurer now has a new name: Lumos Insurance. The rebranding is the culmination of a multi-year modernization effort on corporate governance and capitalization, the company said in a …
Date: Monday, March 9, 2026

Ohio AG Sues Contractor Accused of Scamming Residents
Ohio Attorney General Dave Yost last week filed a lawsuit against a contractor accused of soliciting Northeast Ohio residents for new roofs and siding replacement, only to ghost customers after accepting over $188,000 in payments. The lawsuit, filed on March …
Date: Monday, March 9, 2026

Miami Developer Indicted in Alleged $85M Fraud Scheme
A prominent Miami real estate developer could face years in prison after he was indicted last week on charges of leading a massive fraud scheme that allegedly diverted investor funding, deceived lenders and evaded taxes. Rishi Kapoor, 42, who until …
Date: Monday, March 9, 2026

State Farm’s 17% California Homeowners Rate Hike to Remain Under New Agreement
The California Department of Insurance, State Farm, Consumer Watchdog agreed on rate request from the carrier to raise homeowners rates. The interim rate of 17% will remain in place, meaning there will be no additional impact to policyholders beyond the …
Date: Monday, March 9, 2026

Austin Shooting Response Raises Fresh Questions About Self-Driving Cars
A viral image from the March 1 shooting in downtown Austin — an autonomous vehicle blocking an ambulance from reaching the scene where a gunman fatally wounded three people and injured 15 others — has put a spotlight on driverless …
Date: Monday, March 9, 2026

Authorities Search Debris After Suspected Tornadoes Kill 6 in Michigan, Oklahoma
Authorities searched through rubble and debris in southern Michigan on Saturday after suspected tornadoes tore through the region and killed four people, including a 12-year-old boy, during powerful storms also blamed for two deaths in eastern Oklahoma. First responders from …
Date: Monday, March 9, 2026

Live Nation Reaches Settlement With DOJ in Antitrust Case
Live Nation Entertainment has reached a proposed settlement with the U.S. Justice Department in an antitrust case targeting its dominance in the live?events industry, according to a court hearing on Monday. In the same hearing, it was disclosed that Live …
Date: Monday, March 9, 2026

Greek Oil Tanker Exits Hormuz Shipping Strait With Signal Off
A ship hauling a million barrels of Saudi crude sailed through the Strait of Hormuz in recent days, one of the first big tankers to leave the Persian Gulf since traffic through the chokepoint all but halted. The Shenlong tanker, …
Date: Monday, March 9, 2026

Asia’s Rich Having Second Thoughts on Dubai as War Rages
Many of Asia’s richest families are reconsidering their exposure to Dubai as the Iran war rattles the city that has attracted billions from across the region in recent years. Several consultants told Bloomberg News they are getting calls from clients …
Date: Monday, March 9, 2026

Airline Shares Battered, Airfares Surge as Iran War Intensifies
Airline stocks were hammered on Monday, while airfares soared as the U.S.-Israeli war with Iran sent oil prices surging, sparking fears of a deep travel slump and the potential for the widespread grounding of planes. Oil prices were trading more …
Date: Monday, March 9, 2026

Zurich to Buy Generali’s Irish Unit for €337 Million in Cash
Zurich Insurance Group AG agreed to buy Assicurazioni Generali SpA’s RedClick unit for €337 million ($389 million) in cash to expand its non-life business in Ireland. The two companies announced the deal in separate statements Monday, confirming an earlier Bloomberg …
Date: Monday, March 9, 2026

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