Insurance Level News and Press

AM Best Rating Acitivity and News

Chubb to Lead $20 Billion US Gulf Marine Reinsurance Program
The U.S. International Development Finance Corp. said it chose Chubb Ltd. as lead partner for its $20 billion maritime reinsurance plan designed to resume commercial shipping in the Persian ...
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Source: BestWire

Chubb Names Successor to Global Operations, Technology and Digital Transformation Lead
Chubb Ltd. appointed Seshadri Iyer to succeed Julie Dillman as executive vice president, Chubb Group, operations, technology and digital transformation, effective April 6. Dillman is retiring on ...
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Source: BestWire

Nippon Life Sues OpenAI for Illegally Practicing Law in Dispute Over Settled Claim in Illinois
Nippon Life Insurance Company of America filed a federal lawsuit against artificial intelligence giant OpenAI, arguing its flagship ChatGPT practiced law without a license in prompting an Illinois ...
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Source: BestWire

AM Best Upgrades Credit Ratings for Members of CapSpecialty Insurance Group
AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa-” (Superior) from “a+” (Excellent) of Capitol Indemnity ...
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Source: BestWire

Federal Court Rule in Favor of IRS in Microcaptive Case
A federal judge has ruled in favor of the Internal Revenue Service in a case involving microcaptive insurance and issues of taxation. U.S. District Judge Travis McDonough, sitting in the Eastern ...
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Source: BestWire

Northern Re CUO: Reinsurance Key to Casualty ILS Growth
Reinsurance is bridging complex casualty risks to capital markets, boosting investor confidence and supporting insurance-linked securities growth, said Vincent Pomo, chief underwriting officer, ...
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Source: BestWire

Aetna Reaches $117.7 Million False Claims Act Settlement
Aetna Inc. has agreed to pay $117.7 million to settle allegations it violated the False Claims Act by submitting or failing to withdraw inaccurate and untruthful diagnosis codes for its Medicare ...
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Source: BestWire

Bank of England Fines Aviva Unit $14.2 Million for Solvency Error
A U.K. regulator fined an Aviva plc unit £10.6 million ($14.2 million) for miscalculations that overstated its solvency, in the first such case that allowed the company a 50% reduction in its fine ...
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Source: BestWire

Marsh Risk Appoints President and CEO
Marsh appointed Nick Studer to succeed Martin South as president and chief executive officer of Marsh Risk. South will take on an enterprise-wide role as chief client officer of Marsh and work ...
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Source: BestWire

DOL Moves to Vacate Retirement Fiduciary Rule Opposed By Insurers
The United States Department of Labor signaled support for vacating a Biden Administration Retirement Security Rule, which insurers say would increase fiduciary obligations placed on agents and ...
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Source: BestWire

Markel Appoints Head of Portfolio Analytics, US and Bermuda
Markel, the insurance operations within Markel Group Inc., is appointing Kristen Dardia as head of portfolio analytics, U.S. and Bermuda. In her new role, Dardia will lead Markel's advanced ...
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Source: BestWire

AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V.
AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior), the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” (Superior) and the Mexico National Scale Rating of “aaa.MX” ...
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Source: BestWire

State Farm Incurs Hundreds of Claims After Tornadoes Hit City, Two Villages in Michigan
State Farm has taken in hundreds of claims after a large thunderstorm spawned four tornadoes in Lower Michigan, including destructive twisters that struck Union City, Three Rivers and ...
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Source: BestWire

Federal Court Allows Sweeping Discovery on UnitedHealth’s AI Use
A federal judge granted plaintiffs wide-ranging discovery in a class-action lawsuit that alleges UnitedHealth Group Inc. used artificial intelligence, without input from humans, to improperly deny ...
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Source: BestWire

Axa XL Appoints Chief Technology and Artificial Intelligence Officer
Axa XL appointed Leyla Delic as chief technology and artificial intelligence officer. Delic has more than 20 years of experience in technology. Over the course of her career, she has held ...
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Source: BestWire

Florida Circuit Judge: Citizens' Arbitration Requirements Do Not Violate Due Process
A Florida circuit court judge ruled Citizens Property Insurance Corp. policies do not violate due process rights by requiring arbitration through the Division of Administrative Hearings to settle ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Warburg Pincus Is Said to Explore Options for Asian Insurer Oona
Warburg Pincus is considering options for Oona Insurance that might lead to a sale, according to people familiar with the matter, after receiving interest from other insurers and investment firms. The US private equity firm is working with Citigroup Inc. …
Date: Thursday, March 12, 2026

Oil Tankers Attacked Off Iraq as Middle East Crisis Worsens
Two oil tankers were hit in Iraqi waters, the latest in a string of attacks on ships in the Persian Gulf that are raising risks to global energy supply from the deepening Middle East war. The strikes on the vessels …
Date: Thursday, March 12, 2026

People Moves: Church Mutual Names Pam Rushing as COO, Neil Ziegler to CUO – Admitted
Church Mutual Insurance Company announced two leadership promotions that reinforce the company’s focus on innovation and disciplined growth. Pam Rushing has been promoted to chief operating officer (COO), and Neil Ziegler has been promoted to chief underwriting officer – admitted. …
Date: Thursday, March 12, 2026

Jury Awards $667K to Muslim Men Pepper-Sprayed by Missouri Prison Guards
A federal jury on Monday awarded $667,000 in damages to a group of Muslim men incarcerated in Missouri who were pepper-sprayed by state correctional officers while praying. The lawsuit in eastern Missouri’s U.S. District Court alleged that the men had …
Date: Thursday, March 12, 2026

ExxonMobil Set to Move to Texas In Search of Business Friendly Environment
ExxonMobil is poised to move its legal headquarters from New Jersey to Texas in search of a more friendly business environment, the company announced Tuesday morning. The board of directors for the largest U.S.-based oil producing company, which already runs …
Date: Thursday, March 12, 2026

Costco Customers Sue for Share of Refunds From Trump Tariffs
Costco Wholesale was sued on Wednesday in a proposed nationwide class action seeking U.S. customer refunds for higher prices charged by the company before the U.S. Supreme Court struck down import tariffs imposed by President Donald Trump. The lawsuit, filed …
Date: Thursday, March 12, 2026

People Moves: Iyer to Lead Chubb’s Global Operations, Technology
Chubb Limited appointed Seshadri (Sesh) Iyer executive vice president, Chubb Group, operations, technology and digital transformation, effective April 6. He succeeds Julie Dillman, who is retiring on April 2 after nearly a decade at Chubb. Iyer joins Chubb from Boston …
Date: Thursday, March 12, 2026

Extreme Heat Is Making Life Increasingly Unlivable
The number of days where extreme heat makes it too dangerously hot to walk the dog, sweep the porch and engage in other ordinary pursuits has doubled around the world over the past 75 years, according to new research. Scientists …
Date: Thursday, March 12, 2026

Florida Bill Passes, Easing Agency Customer Reps’ Education Requirements
Florida lawmakers, with no dissenting votes, have approved a measure that would let insurance agencies’ customer service representatives bypass licensing classes if they have taken insurance courses in high school. House Bill 1343, co-sponsored by Rep. Brian Hodgers, one of …
Date: Thursday, March 12, 2026

Once A Beacon of Cheap Homes, Nevada Is A Symbol of The Struggle With High Costs
When his parents were about his age, they bought their first home. But for 27-year-old Brian Torres Suazo, that milestone feels like a distant dream, despite a secure job with union wages and down payment assistance. Torres Suazo expects to …
Date: Thursday, March 12, 2026

Vouch in California Adds Financial, Health & Life Sciences and Professional Services
Vouch is expanding its brokerage services into financial services, health & life sciences and professional services. The San Francisco, California-based company is extending its capabilities to verticals with similar risk patterns it already serves: investor scrutiny, regulatory requirements and coverage …
Date: Thursday, March 12, 2026

Judge Upholds New York Workers’ Comp Board Ban Against Spinal Surgeon
A New York orthopedic spinal surgeon has been denied reauthorization to treat workers’ compensation patients in the state. A Supreme Court judge in Schenectady County has upheld a bar against Dr. Joseph Weinstein that was ordered by the New York …
Date: Thursday, March 12, 2026

Stryker Remains Offline After Cyberattack Linked to Iran Group
Medical technology maker Stryker Corp., hit by a crippling cyberattack linked to a pro-Iran group, is still investigating the breach and doesn’t know when its systems will be back online. The company said in a regulatory filing Wednesday afternoon that …
Date: Thursday, March 12, 2026

Millionaire Tax Advances in Washington State as Legal Duel Looms
Washington state is set to approve a new tax on millionaires, a measure that would shift how the state raises money and set off a likely court fight over a nearly century-old legal ruling. The state’s Democratic-controlled House of Representatives …
Date: Thursday, March 12, 2026

Chubb to Serve as Lead US Insurer for Gulf Shipping Amid Iran War
Insurance giant Chubb will be the lead partner on the U.S. International Development Finance Corporation’s $20 billion Maritime Reinsurance Plan aimed at resuming commercial shipping in the Gulf, the agency said on Wednesday. The U.S.-Israeli conflict with Iran has widened …
Date: Thursday, March 12, 2026

Relation Acquires Rummel Associates
Relation Insurance Services acquired the assets of Rummel Associates, Inc. The transaction went into effect on January 31, 2025; terms of the transaction were not disclosed. Specializing in both commercial and personal insurance, Rummel is based in Chicago, Illinois. Jared …
Date: Wednesday, March 11, 2026

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