Insurance Level News and Press

AM Best Rating Acitivity and News

CMS Threatens Suspension of Elevance’s Medicare Part D Program Over Data Reporting Issues
The Centers for Medicare and Medicaid Services intends to suspend enrollment in Elevance Health Inc.’s Medicare Advantage Part D over persistent noncompliance with risk-adjustment data reporting ...
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Source: BestWire

Ryan Specialty's Trident Marine Managers Appoints New COO
Trident Marine Managers, a Ryan Specialty managing general underwriter, appointed Karolina Krol as chief operating officer, effective immediately. Trident offers specialty marine and offshore ...
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Source: BestWire

Hawaii Legislation Would Expand the Use of Captive Insurers in Catastrophic Risks
A measure allowing captive insurers to underwrite and assume catastrophic risks in Hawaii was approved by the state's Senate over opposition from its top regulator. The measure, SB 2950 S.D. 1, ...
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Source: BestWire

Blue Cross Life of Canada Agrees to Acquire StanCorp Canadian Voluntary Benefits Business
Blue Cross Life Insurance Co. of Canada said it has agreed to acquire the Canadian voluntary benefits business of StanCorp Financial Group Inc., which is marketed under the Allstate brand. The ...
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Source: BestWire

Federal Lenders Lift Replacement-Cost Coverage Rules
Fannie Mae and Freddie Mac will no longer require full replacement-cost coverage for federally back mortgages, a move the Federal Housing Finance Agency said will accelerate home sales and lower ...
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Source: BestWire

New York Life Sees Sales and Surplus Growth in 2025, Net Income Down
New York Life Insurance Co. closed 2025 with sales up across the board and $892 billion in assets under management, according to a year-end financial report. New York Life's net income for 2025 ...
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Source: BestWire

Allstate Estimates $140 Million in Pretax Catastrophe Losses in February
Allstate Corp. said it incurred an estimated $140 million in pretax catastrophe losses in February. That raises the pretax catastrophe-loss total for the first two months of the year to $315 ...
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Source: BestWire

With Demand Rising, Arch Launches Lloyd's Intellectual Property Consortium
Arch Insurance International said it launched an intellectual property consortium supported by Lloyd's syndicates to meet rising client demand for increased capacity and more comprehensive IP ...
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Source: BestWire

Lloyd's CEO: Re-platforming Remains a Priority as Profit Rises in Volatile Market
Lloyd's reported a 10.1% rise in 2025 pretax profit on benign catastrophe loss experience and good investment returns as its chief executive officer said it focuses on its underwriting discipline and ...
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Source: BestWire

AM Best Upgrades Long-Term Issuer Credit Rating of Hanoi Reinsurance Joint Stock Corporation
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Vietnam National ...
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Source: BestWire

AM Best Affirms Credit Ratings of PVI Insurance Corporation
AM Best has affirmed the Financial Strength Rating of A- (Excellent), the Long-Term Issuer Credit Rating of “a-” (Excellent) and the Vietnam National Scale Rating of aaa.VN (Exceptional) of PVI ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Pacific International Insurance Pty Limited
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Pacific International Insurance Pty Limited (Pacific) (Australia). The ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of China Taiping Insurance (Macau) Company Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of China Taiping Insurance (Macau) Company Limited (CTIM) (Macau). The ...
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Source: BestWire

Weekly Calendar: AM Best to Attend NAIC Spring Meeting & PLRB Claims Conference
AM Best will be among the participants at the 2026 PLRB Claims Conference and the NAIC Spring Meeting as the insurance industry gathers for a busy stretch of events spanning late March through early ...
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Source: BestWire

Benchmarking EMEA Ratings – Improving Credit Quality, but Common Themes Highlighted as Weaknesses
Ben Diaz-Clegg, associate director, analytics, AM Best, discusses a Best's Special Report that finds the stability of macroeconomic conditions through 2024 and 2025, in addition to generally robust ...
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Source: BestWire

Aon Appoints North America CEO
Aon named Anne Corona to succeed Lori Goltermann as North America chief executive officer, effective immediately. Goltermann will now serve as vice chair of Aon, effective March 31. With this ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

2,400 Kaiser Mental Health Professionals Strike in California Over AI Concerns
About 2,400 Kaiser Permanente mental health professionals were striking Wednesday in Northern California over concerns that the health care giant is replacing therapists with artificial intelligence. Kaiser says the union claim is false and AI will not replace human assessment …
Date: Thursday, March 19, 2026

Penn. Seeks $2.6M Penalties From Utility Over Deadly Explosion at Chocolate Factory
Pennsylvania is seeking $2.65 million in penalties from a utility company over the March 2023 natural gas explosion at a chocolate factory that killed seven workers and injured 10 others. The Pennsylvania Public Utility Commission’s (PUC) has filed a formal …
Date: Thursday, March 19, 2026

Jewelers Mutual Launches Digital Jewelry Insurance Program Powered by Sure
Sure, an insurance technology platform, announced the launch of a new digital jewelry insurance program underwritten by JM Specialty Insurance Company, a member insurer of the Jewelers Mutual Group. Developed in collaboration with Jewelers Mutual and built to meet its …
Date: Thursday, March 19, 2026

Wisconsin Beauty Products Manufacturer Cited for Safety Violations
The U.S. Department of Labor has cited a Wisconsin beauty and personal care products manufacturer after a 55-gallon fiber drum containing nitrocellulose exploded and started a secondary fire involving flammable liquids. Investigators with the department’s Occupational Safety and Health Administration …
Date: Thursday, March 19, 2026

Prysmian Eyes New Texas Copper Mill Amid Data Center Boom
Prysmian SpA, the world’s largest cable maker, is considering building a new mill in Texas while pursuing U.S. acquisitions, as surging demand tied to data centers and electrification drives growth in its largest market. The Italian group may pull the …
Date: Thursday, March 19, 2026

Florida OIR Summit Includes Cal Commissioner Lara, Sessions on AI, Compliance, Data
The Florida Office of Insurance Regulation’s agenda for its April 15-16 Insurance Summit includes sessions on financial reporting by insurers, changes in data calls, and compliance with orders, along with insights from insurance executives on the use of artificial intelligence. …
Date: Thursday, March 19, 2026

McDonald’s Must Face Black Ex-Executives’ Claims of Harassment, Retaliation
A federal judge in Chicago on Wednesday said two former McDonald’s vice presidents can proceed with their lawsuit that they were criticized and subjected to racial slurs because they are Black women, and then forced out of the company for …
Date: Thursday, March 19, 2026

Massive 7-Ton Meteor Explodes Over Cleveland, Startling Residents
A 7-ton meteor that sped across the Cleveland sky at 45,000 miles (72,420 kilometers) per hour on Tuesday before breaking apart in a thunderous boom startled residents who feared an explosion. People several states away reported seeing the bright fireball …
Date: Thursday, March 19, 2026

Is a Federal Reinsurance Backstop the Answer to Home Insurance Challenges?
The Brookings Institution’s Hamilton Project has released a proposal for a federal reinsurance backstop called US Re to leverage federal borrowing capacity and stabilize the country’s homeowners insurance market. “Properly constructed, US Re could improve resilience while maintaining the benefits …
Date: Thursday, March 19, 2026

People Moves: Trade Names Krol as Chief Operating Officer
Trident Marine Managers, a Ryan Specialty managing general underwriter, announced the appointment of Karolina Krol as Chief Operating O?cer, e?ective immediately. Trident o?ers specialty marine and o?shore energy insurance solutions and is part of Ryan Specialty Underwriting Managers, the underwriting …
Date: Thursday, March 19, 2026

People Moves: MEMIC Promotes Jarrard and Roberts; Khurana Joins Patriot Growth
MEMIC Promotes Jarrard and Roberts to Territory Manager Roles The MEMIC Group, headquartered in Portland, Maine, promoted Sunny Jarrard to territory manager for its Southeast Region and Benjamin Roberts to territory manager for its Northeast Region. Jarrard will guide MEMIC’s …
Date: Thursday, March 19, 2026

Lloyd’s CEO Says It’s Critical Mideast War Cover Stays Available
The Lloyd’s of London insurance market will continue to provide cover for vessels traveling through the Strait of Hormuz even as shipowners avoid the area, according to chief executive officer Patrick Tiernan. Shippers seeking insurance for tankers going through the …
Date: Thursday, March 19, 2026

CISA Asks Companies to Secure Microsoft Tool After Stryker Cyberattack
The U.S. government on Wednesday asked companies to strengthen the security of Microsoft’s endpoint management tool, after a cyberattack on medical device maker Stryker Corp last week. The March 11 cyberattack hit Stryker’s computer systems, causing widespread disruption to its …
Date: Thursday, March 19, 2026

Report: ‘One in A Million’ Live Fire Malfunction Rained Shrapnel on California Highway
A “one in a million” malfunction during a live fire demonstration over Camp Pendleton last October led to a misfire that rained shrapnel on Interstate 5, striking two California Highway Patrol vehicles, a U.S. Marine Corps investigation found. An artillery …
Date: Thursday, March 19, 2026

Iran Attacks Energy Sites, Defying Trump Calls for Restraint
Iran maintained attacks on energy assets around the Middle East even after US President Donald Trump called for restraint, with damage to key oil and gas infrastructure triggering a fresh surge in prices. Tehran’s response to Israel’s assault on the …
Date: Thursday, March 19, 2026

‘Tag Man’ Charged With Title-Washing $3.8 Million in Stolen Luxury Autos
A Philadelphia man has been charged for his alleged role in a vehicle title-washing scheme involving dozens of stolen luxury vehicles valued at nearly $4 million, according to state police and prosecutors. Pennsylvania Attorney General Dave Sunday said an investigation …
Date: Thursday, March 19, 2026

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