Insurance Level News and Press

AM Best Rating Acitivity and News

Former FM Global President, CEO, Chairman Tom Lawson Dies at 69
Former FM Global Chairman, President and Chief Executive Thomas "Tom" Lawson died on March 7, one year after retiring as chairman of the company, where he had a 43-year career. The impact the ...
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Source: BestWire

Federal Court Allowing Allstate Auto Data Collection Class Action to Proceed
A federal court in Illinois is allowing a class-action lawsuit to proceed alleging the Allstate Corp. and its data analytics subsidiary Arity LLC improperly collected, used and sold driver ...
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Source: BestWire

Connecticut Bill Creates LTC Tax Deductions, Rate-Hearing Trigger
Legislation was introduced in Connecticut that would allow policyholders to deduct long-term care insurance premiums from income taxes and require the rate hearings for certain requests. House ...
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Source: BestWire

Insurers Successfully Appeal $345 Million Georgia Sexual Assault Award
A group of insurers do not have to cover a $345 million sexual assault verdict stemming from the abuse of 20 students at the hands of private school teacher. The abuse occurred from 1974 to 1994 ...
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Source: BestWire

NI Holdings Swings to Fourth-Quarter Net Loss, Hit by Nonstandard Auto, Auto Liability Severity
NI Holdings Inc. swung to a $3.2 million attributable net loss in the fourth quarter from a $9.8 million attributable net income a year earlier, hurt by its nonstandard automobile insurance ...
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Source: BestWire

Mutual of Omaha Policyholders Approve Plan to Reorganize as a Mutual Holding Company
Mutual of Omaha Insurance Co. policyholders have backed a plan to reorganize as a mutual holding company, and state regulators now must sign off on the vote. Policyholders voted "overwhelmingly" ...
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Source: BestWire

Greenlight Re CEO: Reinsurer Has War Risk Exposure in Middle East
Greenlight Re Ltd. has commercial lines exposures in the Middle East as it watches developments related to the U.S and Israeli attacks on Iran and that country's retaliatory strikes in the region, ...
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Source: BestWire

AM Best Revises Outlooks to Stable for Farmers Mutual Fire Insurance Company of Marble, Pennsylvania
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Farmers Mutual Fire ...
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Source: BestWire

Allstate Affiliates Approved for Lower Personal Auto Rates in Louisiana
The Louisiana Department of Insurance said it approved requests to lower personal automobile insurance rates from two units of Allstate Corp. Imperial Fire and Casualty Insurance Co., which ...
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Source: BestWire

Beazley to Acquire US Renewable Energy MGA kWh Analytics
Specialty insurer Beazley plc said it has reached an agreement to acquire kWh Analytics, a managing general agent in the United States focused on renewable energy. Beazley said in a statement it ...
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Source: BestWire

US $20 Billion Reinsurance Plan Initially Targets Gulf Hull, Cargo Risks
The U.S. International Development Finance Corp. agreed on a plan approved by President Trump to deploy up to $20 billion for maritime reinsurance, including war risk, in the Persian Gulf region. ...
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Source: BestWire

AM Best Downgrades and Withdraws Credit Ratings of Trust Insurance JSC
AM Best has downgraded the Financial Strength Rating to C- (Weak) from C+ (Marginal) and the Long-Term Issuer Credit Rating to “ccc-” (Weak) from “b-” (Marginal) of Trust Insurance JSC (Trust ...
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Source: BestWire

Best’s Special Report: US Property/Casualty Impairments in 2024 Fell Sharply
One U.S. property/casualty company became impaired in 2024, compared with 13 in the previous year, according to an AM Best report. The report, titled, “2024 US Property/Casualty Impairments ...
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Source: BestWire

AM Best Comments on Credit Ratings of Guild Insurance Limited
AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Guild Insurance Limited (GIL) (Australia) remain unchanged ...
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Source: BestWire

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

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Inszone Acquires Nebraska’s Jaffery Insurance & Financial Services
Inszone Insurance Services announced its acquisition of Jaffery Insurance & Financial Services, an independent insurance agency based in Omaha, Nebraska. This acquisition marks Inszone’s entrance into the Nebraska market and strengthens the company’s growing presence in the Midwest. Founded in …
Date: Tuesday, March 10, 2026

WalkerHughes Acquires Missouri’s Hometown Insurance Agency
WalkerHughes Insurance announced its continued expansion in Missouri with the acquisition of Hometown Insurance Agency LLC, located in Independence, Missouri. This partnership marks WalkerHughes’ entry into the Kansas City metropolitan area. Hometown Insurance Agency has established a reputation for personal …
Date: Tuesday, March 10, 2026

Register: Risky Future AI Tools for MGAs ‘Demo Day’ on March 11
Insurance Journal’s Risky Future series is hosting the “AI Tools for MGAs” Demo Day, a series of free AI tool demonstrations designed exclusively for managing general agencies. The latest online event offers MGAs an opportunity to evaluate innovative and practical …
Date: Tuesday, March 10, 2026

Florida Lawmakers Tweak Cancer Benefits for Firefighters
In 2019 Florida lawmakers, after a hard-fought legislative effort, provided benefits—outside the workers’ compensation system—for firefighters diagnosed with any of 21 types of cancer. On Monday, the Florida House of Representatives gave final passage to Senate Bill 984, which would …
Date: Tuesday, March 10, 2026

Studer to Become CEO of Marsh Risk, South Moves to Chief Client Officer of Marsh
Marsh said Nick Studer will become president and CEO of Marsh Risk, succeeding Martin South, who will become chief client officer of Marsh and work closely with the leaders of the company’s businesses. Studer has been the CEO of Marsh’s …
Date: Tuesday, March 10, 2026

Corona Promoted to North America CEO at Aon
Aon plc said it promoted Anne Corona to North America CEO. She takes over for Lori Goltermann, who was elevated to the role of vice chair of Aon. The roles will begin March 31. Corona has had a 25-year career …
Date: Tuesday, March 10, 2026

Georgia Teacher Killed When Toilet Paper Prank by Students Goes Wrong
A high school teacher in Gainesville, Georgia, was killed Friday when a group of students, engaged in “rolling” his yard with toilet paper, accidentally ran over the man. News sites reported that Jason Hughes, 40, knew the traditional prank was …
Date: Tuesday, March 10, 2026

Risk Theory Acquires New York City Property, Habitational MGA Roundhill Express
Risk Theory, a specialty insurance platform, announced it has completed the acquisition of Roundhill Express, a specialized managing general agent (MGA) underwriting commercial habitational properties throughout New York City. Roundhill Express operates in New York City’s commercial habitational market through …
Date: Tuesday, March 10, 2026

Aon Announces Stablecoin Insurance Premium Payment Option
Global professional services firm Aon announced the first known stablecoin insurance premium payment among major global brokers. The proof of concept was backed by using trusted U.S. dollar-backed stablecoins, expanding digital asset insurance capabilities for clients, and supporting more efficient …
Date: Tuesday, March 10, 2026

Beazley to Acquire kWh Analytics to Add to Renewable Energy Portfolios
Specialty insurer Beazley said it has reached an agreement to acquire kWh Analytics. Terms of the deal were not disclosed. kWh Analytics, a managing general agency, combines data with advanced analytics to deliver insurance and risk management solutions for clean …
Date: Tuesday, March 10, 2026

Global Leaders Race to Shield Their Economies From War Shocks
Policymakers around the world are readying measures to absorb surging energy and commodities prices triggered by the Middle East war that now threaten the global economy with its biggest shock since the pandemic. What were cast as dire scenarios when …
Date: Tuesday, March 10, 2026

Oracle and OpenAI End Plans to Expand Flagship Data Center
Oracle Corp. and OpenAI have scrapped plans to expand a flagship artificial intelligence data center in Texas after negotiations dragged over financing and OpenAI’s changing needs. The collapsed talks created an opening for Meta Platforms Inc. to step in and …
Date: Tuesday, March 10, 2026

Iran Says Oil Blockade Will Continue Until Attacks End; Trump Threatens Heavier Strikes
Iran’s Revolutionary Guards said on Tuesday they would not let any oil be shipped from the Middle East if U.S. and Israeli attacks continue, prompting President Donald Trump to say the U.S. would hit Iran much harder if it blocked …
Date: Tuesday, March 10, 2026

Update: Ship Clusters and Speeding Tankers Point to Hormuz Jamming
At least a dozen clusters of ships have appeared near the Strait of Hormuz, a likely sign of elevated electronic interference around the waterway that’s central to the US and Israeli war against Iran. The groups, which can number more …
Date: Tuesday, March 10, 2026

Louisiana Regulation Sets Mandatory Discounts for Fortified Homes
A new regulation requires Louisiana insurers to provide premium discounts to residential properties that obtain a Fortified designation in accordance with standards put forth by the Insurance Institute for Business and Home Safety (IBHS). Fortified homes in the central and …
Date: Tuesday, March 10, 2026

Indiana Church Not Owed Replacement-Cost Payment for Fire Damage
An Indiana church seeking payment at replacement-cost level for fire damage to its property learned the hard way that procrastination can carry a price tag. A federal appeals court ruled last week that Church Mutual does not owe replacement-level coverage …
Date: Tuesday, March 10, 2026

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