Insurance Level News and Press

AM Best Rating Acitivity and News

AIR Executive: Regulatory Expansion Drives Cyber Market
Scott Stransky, assistant vice president and director of emerging risk modeling, AIR Worldwide, said evolving cyberrisk models can’t predict the next breach, but are better at identifying ...
Date: Tuesday, December 18, 2018
Source: BestWire

New Jersey Agent Allegedly Ran $10 Million Health Insurance Scheme
A licensed insurance agent and financial adviser faces charges of conspiring to defraud three Blue Cross Blue Shield affiliates out of more than $10 million. Jonas Knopf, as chief executive officer ...
Date: Tuesday, December 18, 2018
Source: BestWire

PwC Partner: To Support Women’s Financial Futures, Focus on Key Moments
Jane Portas, partner, PwC, said directing attention to key life points through human resources and market solutions will help improve women’s financial resiliency. View the video version of this ...
Date: Tuesday, December 18, 2018
Source: BestWire

Sompo Names Overseas CEO
Sompo Holdings Ltd. has appointed John Charman as chief executive officer of overseas insurance, a segment representing more than 27% of Sompo Holdings group adjusted profit. Nigel Frudd will ...
Date: Tuesday, December 18, 2018
Source: BestWire

AM Best Affirms Credit Ratings of Ghana Reinsurance Company Limited
AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” of Ghana Reinsurance Company Limited (Ghana Re) (Ghana). The outlook of these Credit ...
Date: Tuesday, December 18, 2018
Source: BestWire

AM Best Affirms Credit Ratings of UnitedHealth Group Incorporated and Its UnitedHealthcare Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” for the majority of the UnitedHealthcare insurance ...
Date: Tuesday, December 18, 2018
Source: BestWire

AM Best Affirms Credit Ratings of NEWGT Reinsurance Company, Ltd.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of NEWGT Reinsurance Company, Ltd. (NEWGT) (Bermuda). The outlook of these Credit ...
Date: Tuesday, December 18, 2018
Source: BestWire

Epic Holdings to Acquire Most US Operations of Integro
Epic Holdings Inc. said it will acquire Integro Holdings Inc., which contains nearly all of the U.S. operations of international broker Integro Group Holdings LP. Terms weren’t ...
Date: Tuesday, December 18, 2018
Source: BestWire

Prosthetic Company Owner Charged in $1.2 Million Insurance Fraud Scam
The owner of a company that provided prosthetics and undergarments for breast cancer patients was charged with 67 counts of insurance fraud in an alleged overbilling scam with carrier losses that ...
Date: Tuesday, December 18, 2018
Source: BestWire

Connecticut Insurance Commissioner Leaving Office Ahead of Administration Change
Connecticut Insurance Commissioner Katharine Wade will leave her office Dec. 19. State Life and Health Division Director Paul Lombardo will serve as acting commissioner until governor-elect Ned ...
Date: Tuesday, December 18, 2018
Source: BestWire

AM Best Assigns Credit Ratings to MLMIC Insurance Company
AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” to MLMIC Insurance Company (MLMIC) (New York, NY). The outlook assigned to these Credit ...
Date: Tuesday, December 18, 2018
Source: BestWire

Lloyd’s Names New Leaders for Asia-Pacific
Lloyd’s has appointed Iain Ferguson as the new regional director to head Lloyd’s Asia Pacific, which will combine the existing Asia-Pacific and Greater China regions. Ferguson, who is based in ...
Date: Tuesday, December 18, 2018
Source: BestWire

AM Best Assigns Credit Ratings to Vermeer Reinsurance Ltd.
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” to Vermeer Reinsurance Ltd. (Vermeer) (Bermuda). The outlook assigned to these Credit ...
Date: Tuesday, December 18, 2018
Source: BestWire

AM Best Revises Outlooks to Positive for Wayne Mutual Insurance Company
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Wayne Mutual Insurance Company ...
Date: Tuesday, December 18, 2018
Source: BestWire

BMS Builds Bermuda Operation With New Appointments
BMS Group Ltd. said it is building out its Bermuda market operation as it announced two appointments. The move will focus on North American liability and property with the appointments of George ...
Date: Monday, December 17, 2018
Source: BestWire

Catalina Assumes $2 Billion UK Employers’ Liability Portfolio From Zurich’s UK Affiliate
Zurich Insurance Group said its U.K subsidiary entered an agreement with Catalina Holdings (Bermuda) Ltd. that will have Zurich transfer about US$2 billion of gross liabilities in a U.K. legacy ...
Date: Monday, December 17, 2018
Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

More Global Companies Offer 4-Day Work Week as Stress, Burnout Levels Rise
Work four days a week, but get paid for five? It sounds too good to be true, but companies around the world that have cut their work week have found that it leads to higher productivity, more motivated staff and …
Date: Wednesday, December 19, 2018

North Carolina Construction Company Fined $20K Over Worker Death
A construction company whose employee died after falling out of an elevator has been cited for safety violations. WBTV-TV reports that the North Carolina Department of Labor announced that Gilbane Building Company is required to pay $20,300 in fines in …
Date: Wednesday, December 19, 2018

U.S. Safety Agency Streamlines Autonomous Vehicle Approvals
The U.S. auto safety regulator said on Tuesday it is speeding up the process for reviewing whether automakers can deploy self-driving vehicles without devices such as brakes and steering wheels. Automakers must currently meet nearly 75 auto safety standards, many …
Date: Wednesday, December 19, 2018

Williams-Sonoma Lawsuit Claims Amazon Infringes Furniture Patent, Trademark
Williams-Sonoma Inc. sued Amazon.com Inc. in a case that challenges the online retailer’s private label push that started with batteries, baby wipes and phone chargers and has expanded to include clothing, toys and high-end furniture. Amazon’s “Rivet” line includes products …
Date: Wednesday, December 19, 2018

Larger Houses Replace Smaller When Rebuilding After Hurricanes
A study of hurricane-hit areas of the United States has revealed a trend of larger homes being built to replace smaller ones in the years following a storm. The research, led by the University of Southampton (UK) and published in …
Date: Wednesday, December 19, 2018

Gold Becomes First Female CEO of Insurors of Tennessee
Insurors of Tennessee named Ashley Gold as CEO of the organization, effective Jan. 1, 2019. Gold currently serves as general counsel for the trade association – which represents independent insurance agents in the state – a position she has held …
Date: Wednesday, December 19, 2018

Bus Crash in North Carolina Injures 13 Middle School Students
A North Carolina school bus overturned after it was hit by a car on Monday, sending 13 middle school students to the hospital. Twelve of the students had minor injuries in the crash in Alexander County, while one was in …
Date: Wednesday, December 19, 2018

California’s 376 Fatal Occupational Injuries in 2017 Equals Previous Year, Report Shows
The California Department of Industrial Relations issued a report on Tuesday showing that 376 Californians died on the job in 2017, the same as in 2016. California’s workplace fatality rate remains stable with slight fluctuations over the past eight years, …
Date: Wednesday, December 19, 2018

Worldwide Facilities Adds Ives as Broker, Cannabis Specialist in Washington
Worldwide Facilities has named Norman Ives to the management and brokerage team in its NutraRisk division, which specializes in cannabis, nutraceuticals and dietary supplements insurance coverage. Ives, who is based out of Washington, has more than 20 years of insurance …
Date: Tuesday, December 18, 2018

Study Shows Arkansas Auto Insurance Rates Lowest in South Central Region
Auto insurance rates are the lowest in the South Central region and 17th lowest in the nation, a study by the National Association of Insurance Commissioners (NAIC) shows. The Arkansas Insurance Department reported that in its Auto Insurance Database Report, …
Date: Tuesday, December 18, 2018

Second Earthquake in 4 Days Shakes Eastern Tennessee
An earthquake centered in eastern Tennessee also was felt in three other states. The U.S. Geological Survey website says the epicenter of the magnitude 3.0 earthquake early Sunday was about two miles (four kilometers) southeast of Mascot, near Knoxville. It …
Date: Tuesday, December 18, 2018

Indiana Gets $521K Federal Grant for Statewide Smoke Detector Installations
Indiana has received more than a half-million dollars in federal funding to kick off a campaign to install 10,000 smoke detectors in homes around the state. The State Fire Marshal’s office will use the $521,000 to install smoke detectors in …
Date: Tuesday, December 18, 2018

Not all Texas Coastal Residents on Board with Proposed Storm Barrier
A proposed Texas coastal barrier is drawing backlash from some Gulf Coast residents and the state’s land commissioner wants more time for property owners to voice concerns. The plan is designed to protect the Texas coast from hurricanes with a …
Date: Tuesday, December 18, 2018

Clymer Appointed Chief Information Officer at Lockton
Kansas City, Missouri-based Lockton has named Byron Clymer chief information officer. Clymer will oversee strategic information technology initiatives to meet the future needs of associates and clients. He will report to Said Taiym, chief digital officer. Clymer is an IT …
Date: Tuesday, December 18, 2018

American Financial Group Names Pater Asst. VP – Internal Audit
American Financial Group Inc. (AFG) appointed Jerome (Jerry) P. Pater as assistant vice president – Internal Audit for the Cincinnati, Ohio-based company and its subsidiaries. Pater joined AFG in 2003 as audit director within Great American Insurance Group’s annuity business …
Date: Tuesday, December 18, 2018

Texas Lawmaker: Build Casinos on Coast to Subsidize Wind Insurance
A Texas lawmaker has proposed subsidizing the state’s underfunded windstorm insurance and flooding assistance by building casinos in coastal counties. State Rep. Joe Deshotel filed the bill on Dec. 7 to cover the cost of subsidizing the Texas Windstorm Insurance …
Date: Tuesday, December 18, 2018

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