Insurance Level News and Press

AM Best Rating Acitivity and News

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

Miami Court Denies Motion to Dismiss Chubb’s Russia Subrogation Suit
A Miami-Dade County court rejected a motion to dismiss Chubb European Group SE’s lawsuit asserting salvage and subrogation rights in relation to the loss of 23 airplanes during Russia’s invasion of ...
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Source: BestWire

Insured Retirement Institute Calls on Trump to Expand Use of Annuities in Retirement Proposals
Trade association Insured Retirement Institute is calling on President Donald Trump to include lifetime income options in his proposed retirement accounts for Americans without access to one in the ...
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Source: BestWire

Athora Secures $4.05 Billion, Regulatory Approvals for Acquisition of Pension Insurance Corp.
European savings and retirement business Athora Holding Ltd. said it secured €3.5 billion ($4.05 billion) in financial commitments from a range of investors, the majority of which will fund its ...
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Source: BestWire

Illinois Lawmakers Mull Auto Underwriting Age, Credit Score Restrictions
Illinois lawmakers are considering legislation that would prohibit the ability of automobile insurers to use credit scores in underwriting and place limits on the use a driver’s age, regulations the ...
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Source: BestWire

Florida OIR Personal Auto Rates Dropping 8% Among Top Writers, Some on Top of Dividends
The five insurers accounting for 78.6% of Florida's private-passenger automobile insurance market are continuing to reduce rates by an average 8% this year, according to state Insurance Commissioner ...
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Source: BestWire

AM Best Affirms Credit Ratings of James River Group Holdings, Inc. and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the rated operating subsidiaries of James ...
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Source: BestWire

LMA: Vessels Worth $25 Billion Remain in Persian Gulf Area
Insurance offers are being made for vessels seeking to transit the Strait of Hormuz around the Persian Gulf amid the Iran conflict and offers will continue to be available through the London marine ...
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Source: BestWire

Insurance Industry Adds 800 Jobs in February
The United States insurance industry added 800 jobs in February, a month that saw total nonfarm payrolls drop by 92,000 positions across the economy, according to preliminary figures from the United ...
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Source: BestWire

Malibu Life Appoints COO and Head of Reinsurance
Malibu Life Holdings Ltd. appointed Robert Pavleszek to succeed Robert Hou as chief operating officer. Hou has been named head of reinsurance. In his new role, Pavleszek will oversee Malibu ...
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Source: BestWire

Weekly Podcast Highlights - March 6
A look at Caribbean-based insurers and the stable outlook for directors and officers insurance are among this week's insurance industry podcast highlights. This week's AM Best Audio podcasts ...
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Source: BestWire

AM Best Assigns Issue Credit Rating to Humana Inc.’s New Junior Subordinated Notes
AM Best has assigned a Long-Term Issue Credit Rating of “bbb-” (Good) to the $1 billion, 6.625% fixed rate junior subordinated notes, due 2056, of Humana Inc. (Humana) (headquartered in Louisville, ...
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Source: BestWire

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. At Jewelers ...
Date:
Source: BestWire

Oklahoma AG Intervening in Ranging State Farm Roof-Claim Lawsuit
The Oklahoma County District Court rejected State Farm Fire and Casualty Co.’s petition to prevent the state’s attorney general from intervening in a lawsuit alleging the carrier systematically ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Trump Signs Order to Bolster Efforts to Combat Cybercrime
President Donald Trump signed an executive order Friday aimed at fighting cybercrime — including fraud and extortion — directing officials to identify robust tools to combat transnational criminal organizations preying on American families, businesses and infrastructure. The directive calls for …
Date: Monday, March 9, 2026

3 Big Questions Facing FEMA With Kristi Noem Out
President Donald Trump ousted Kristi Noem as head of the Department of Homeland Security, a move announced Thursdaythat will also have major implications for the nation’s top disaster agency. The Federal Emergency Management Agency, which falls under DHS, has been …
Date: Monday, March 9, 2026

Liberty Mutual ‘Shifting From Fixing to Building’ in 2026, CEO Says
Liberty Mutual’s underwriting results across its businesses came in ahead of targets the company set three years ago when the business was unprofitable, the chief executive reported yesterday, also giving a sense of future strategies. “In 2026, a key focus …
Date: Monday, March 9, 2026

Study Analysis: AI May Be Tempering Insurer Hiring
The share of insurance companies planning to maintain their current staff size over the next 12 months has reached a 15-year high—while just 7% of insurers plan to reduce headcount in 2026. Aon and The Jacobson Group’s Q1 2026 Insurance …
Date: Monday, March 9, 2026

Georgia Appeals Court Reverses $345M Judgment Against Insurers in School Sex Abuse
Five insurance carriers cannot be expected to defend or indemnify a Georgia boarding school where child sexual abuse took place decades before the liability policies were written, the Georgia Court of Appeals has found in a ruling that reversed a …
Date: Monday, March 9, 2026

Plane That Crashed in Maine Spent Too Long on Runway After Deicing, NTSB Says
A private jet that crashed in Maine in January, killing all six people aboard, remained on the ground 8 minutes longer than it should have after receiving a deicing treatment in a snowstorm, according to a preliminary report issued Friday …
Date: Monday, March 9, 2026

Search Ends for Survivors After Fishing Vessel Sank Off Cape Cod, Killing 2
The search has been called off for any survivors after a commercial fishing vessel with two people aboard sank off Cape Cod, the U.S. Coast Guard said Friday. Coast Guard Sector Southeastern New England received a notification just before noon …
Date: Monday, March 9, 2026

People Moves: NFP Names Ross Head of Broking, West Region
NFP hired Michelle Ross as vice president, head of property/casualty broking, for its West region. Ross was previously NFP’s California broking leader. With more than three decades in the commercial insurance industry, Ross has partnered with mid-market businesses across Southern …
Date: Monday, March 9, 2026

Attorneys for Suspect in LA Wildfire Seek Release Based on New Evidence
Defense attorneys for the man accused of sparking the deadly Palisades Fire in Los Angeles held a news conference Thursday to call for his release from jail in light of new evidence they say shows he is not responsible for …
Date: Friday, March 6, 2026

AM Best Upgrades Issuer Credit Rating of First Chicago Insurance Group Members
AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “bb+” (Fair) from “bb” (Fair) and affirmed the Financial Strength Rating (FSR) of B (Fair) of First Chicago Insurance Company and United Security Insurance Company. The outlook of …
Date: Friday, March 6, 2026

AI ‘Man Camps’ Offer Golf, Free Steaks to Lure Workers in Texas
Companies competing for workers to build data centers are finding that a motel room with sluggish Wi-Fi isn’t much of a draw. Try free steaks and golf simulators. As data-center development has exploded with the rise of artificial intelligence, competition …
Date: Friday, March 6, 2026

NHTSA to Hold Self-Driving Safety Forum With CEOs of Waymo, Zoox, Aurora
The National Highway Traffic Safety Administration will hold a national autonomous vehicle safety forum that will include the CEOs of self-driving companies Waymo, Zoox and Aurora on Tuesday. The Trump administration is looking for ways to speed deployment of robotaxis …
Date: Friday, March 6, 2026

After Florida Charged People With Selling Insurance Licenses, 12 More Arrested
Two years ago, Rainier Miguel Salas and two licensed Florida insurance agents were charged with selling insurance agent licenses—all part of an illicit licensing school in Miami. This week, 12 others in the Miami area were charged with participating in …
Date: Friday, March 6, 2026

Markets/Coverages: Floodbase Expands Parametric Platform
Parametric platform Floodbase said it has unveiled its Floodbase Quote API to enable insurers and MGAs to reduce manual quoting cycles into workflows that dramatically accelerate distribution and offer new portfolio flood solutions for the historically underserved U.S. flood market. …
Date: Friday, March 6, 2026

World’s Farmers See Fertilizer Price Surge as Iran War Blocks Exports
The world’s farmers face soaring fertilizer and fuel prices as the war in the Middle East escalates, leaving some scrambling for supplies as the spring planting season approaches. The war, which has closed the Strait of Hormuz, has shut down …
Date: Friday, March 6, 2026

People: Alliant Names McMinn VP in Benefits Group
Alliant Insurance Services named Will McMinn, formerly an employee benefits consultant with USI Insurance, as vice president in Alliant’s employee benefits group. McMinn, with 20 years of experience in the space, will be based in Charlotte, North Carolina, Alliant said …
Date: Friday, March 6, 2026

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