Insurance Level News and Press

AM Best Rating Acitivity and News

Best's News: AM Best: Nonlife Runoff – An Evolving Reinsurance Landscape
AM Best Associate Director Dan Hofmeister discusses a new Best's Special Report that finds the nonlife runoff market continues to exhibit healthy transaction volumes, but its composition is becoming ...
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Source: BestWire

AM Best Affirms Credit Ratings of Chubb Seguros Panama S.A.
AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Rating of “aa+” (Superior) of Chubb Seguros Panama S.A. (Chubb Panama) (Panama City, Panama). The ...
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Source: BestWire

AM Best Affirms Credit Ratings of Chubb Limited and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of the grouped subsidiaries of Chubb Limited ...
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Source: BestWire

CatIQ Pegs December Severe Storm Losses in Western Canada at $64.8 Million
Severe storms and flooding last month left insurers in British Columbia and Alberta with an estimated C$90 million ($64.6 million) of losses, according to Catastrophe Indices and Quantification ...
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Source: BestWire

Prudential: Japan CEO to Step Down as Employee Misconduct Is Disclosed
The head of Prudential Life Insurance Co. in Japan will step down as the company disclosed misconduct on the part of about 100 current and former employees that cost 498 customers ¥3.08 billion  ...
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Source: BestWire

New Financial Services Bill, Simpler Rules Among British Brokers' 2026 Priorities
The British Insurance Brokers Association is hoping United Kingdom lawmakers and regulators will consider a new financial services bill and continue simplifying rules, among its 10 key priorities for ...
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Source: BestWire

HSA-Style Accounts, Cost Transparency Among Trump Health Plan Pitch
The White House unveiled a broad health care initiative it said will hold insurers accountable, reduce premiums and increase transparency around the cost of care. President Donald Trump said in a ...
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Source: BestWire

AM Best Affirms Credit Ratings of Barents Re Reinsurance Company, Inc. and Its Affiliate
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Barents Re Reinsurance Company, Inc. (Barents Re) (Cayman Islands) and ...
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Source: BestWire

Geico Adding 1,000 More Jobs at Expanding North Texas Commercial Operations Hub
Geico said it will add 1,000 more employees in North Texas, increasing the total number of new jobs at its Richardson hub to 2,500 over three years. Most roles based at a 165,000-foot building ...
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Source: BestWire

MGA McGowan Program Administrators Launches Coverage for Affordable, Student Housing
Managing general agent McGowan Program Administrators has launched coverage for affordable and student housing within its habitational insurance program, a move it said strengthens its position in ...
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Source: BestWire

ICW Specialty Adds Alternative Risk Transfer Offering, Names Former Lockton Exec as Head
ICW Group is continuing to expand its ICW Specialty business unit with the addition of alternative risk transfer solutions and the appointment of Travis Murnan as head of alternative risk transfer.  ...
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Source: BestWire

Weekly Podcast Highlights - Jan. 16
Among the insurance industry podcast highlights this week, AM Best analysts offer their insights about 2026 and a Verisk analyst explains how insurers should prepare for the impact of rising civil ...
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Source: BestWire

ICA Upgrades Australia's Victoria Bushfire Event to Insurance Catastrophe
The Insurance Council of Australia upgraded Victoria state bushfires to an insurance catastrophe from a significant event, giving priority to industry efforts in the affected areas. Insurers ...
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Source: BestWire

AM Best Affirms Credit Ratings of Brit Reinsurance (Bermuda) Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Brit Reinsurance (Bermuda) Limited (Brit Re) (Bermuda). The outlook of ...
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Source: BestWire

AM Best Upgrades Credit Ratings of First Indemnity of America Insurance Company
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of First Indemnity of America ...
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Source: BestWire

Lloyd's Appoints PwC Executive to CFO Role
Lloyd’s has appointed Jim Bichard to succeed Alexandra Cliff as chief financial officer, effective April 2026. He will also become a member of Lloyd’s executive team. Bichard’s appointment is subject ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

California Attorney General Issues Cease and Desist Letter to xAI
California Attorney General Rob Bonta sent xAI a cease-and-desist letter that orders the company to immediately halt the creation and distribution of deepfake, nonconsensual, intimate images and child sexual abuse material. Creating, distributing, publishing or exhibiting child sexual abuse material …
Date: Friday, January 16, 2026

Allstate Can Proceed with Recovery in Texas RICO Case: Fifth Circuit
Allstate can move forward in its recovery of $4.7 million it paid to settle fraudulent medical claims with a Houston, Texas medical facility, the U.S. Court of Appeals for the Fifth Circuit has ruled. The federal appellate court reversed a …
Date: Friday, January 16, 2026

Trump Officials Vow to Keep All US Coal Plants Running
Trump administration officials vowed to keep US coal power plants operating, casting it as an imperative to meet surging electricity demand and drive a revival of the nation’s industrial base. “The goal is 100% open,” said Interior Secretary Doug Burgum. …
Date: Friday, January 16, 2026

Dealmakers See More Retail Mergers, IPOs After Tariffs Sidelined M&A Last Year
Dealmakers predict an uptick in mergers and IPOs for retailers and consumer goods companies this year after punishing tariffs on imports to the U.S. had sidelined activity in the industry for the first half of 2025. Several national restaurant and …
Date: Friday, January 16, 2026

Texas Proposes 13,000% Fee Hike on Hemp THC Shops
Texas state health officials have proposed raising licensing fees by as much as 13,000% for some hemp businesses, among a slate of changes that many industry members and advocates say will shutter small operations in favor of large out-of-state companies. …
Date: Friday, January 16, 2026

New Texas Law Expedites Medical Benefits for Injured Death Investigation Professionals
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) adopted amendments to the Texas Administrative Code, concerning medical disputes for workers’ compensation claims and preauthorization, concurrent utilization review, and voluntary certification of health care. The amendments are necessary to …
Date: Friday, January 16, 2026

Part That Broke on UPS Plane in Kentucky Failed 4 Times on Other Planes Years Ago
Boeing warned plane owners in 2011 about a broken part that contributed to a UPS plane crash that killed 15 last year but at that point the plane manufacturer didn’t believe it threatened safety, the National Transportation Safety Board said …
Date: Friday, January 16, 2026

AM Best Upgrades Credit Ratings of Michigan Millers Mutual
AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “a” (Excellent) of Michigan Millers Mutual Insurance Company based in Lansing, Michigan, a …
Date: Friday, January 16, 2026

Wisconsin Medical Care Partnership to Pay $162K in Back Wages
A federal court has ordered a Wisconsin-based multicounty medical care partnership to pay $162,486 in back wages and liquidated damages to 68 case managers after a U.S. Department of Labor investigation found the employer did not pay case managers all …
Date: Friday, January 16, 2026

Thumbs Down on SELF DRIVE Act as Written, Says Industry Trades
Federal lawmakers have begun to discuss numerous pieces of legislation focusing on the evolving automobile industry, with legislation addressing consumer data rights, parts and repair, pedestrian safety, driver-assistance technology and even catalytic-converter theft. In preparation for a hearing Jan. 13, …
Date: Friday, January 16, 2026

Georgia Seeks to Spend $1.8B to Unclog Interstate 75
Georgia’s governor said Wednesday that he wants to spend $1.8 billion to unclog one of traffic-choked Atlanta’s notorious chokepoints on the most important highway between the Midwest and Florida. Republican Gov. Brian Kemp, serving his last year in office, says …
Date: Friday, January 16, 2026

Federal Judge Allows Equinor to Restart New York Offshore Wind Project
A federal judge on Thursday cleared Norwegian offshore wind developer Equinor to resume work on its New York Empire Wind project, which President Donald Trump’s administration halted along with four other projects last month. The ruling by U.S. District Judge …
Date: Friday, January 16, 2026

Tesla Gets 5-Week Extension in Probe of Full Self-Driving Traffic Violations
U.S. auto safety regulators have granted Tesla a five-week extension to respond to an investigation into whether its vehicles violated traffic laws while the Elon Musk-led company’s Full Self-Driving system was engaged. The National Highway Traffic Safety Administration said on …
Date: Friday, January 16, 2026

People Moves: Lloyd’s Appoints Bichard From PwC as CFO, Succeeding Cliff
Lloyd’s, the insurance and reinsurance marketplace, announced that Jim Bichard has been appointed as chief financial officer. He will start in April 2026 and will become a member of Lloyd’s Executive Team, reporting directly to Patrick Tiernan, chief executive, and …
Date: Friday, January 16, 2026

Greensill Bank Sues UK Government for $441 Million Over COVID Loan Guarantees
Greensill Bank, a subsidiary of collapsed finance firm Greensill Capital, is suing Britain’s business department for just over 330 million pounds ($441.7 million) after it canceled guarantees for COVID-19 business loans, court documents showed. The administrators of the German-based bank …
Date: Friday, January 16, 2026

Venezuelan Oil Industry Is Running on WhatsApp After Cyberattack
Venezuela’s oil industry is running its day-to-day operations via phone calls and handwritten reports in the month since a cyberattack on state-owned oil giant Petróleos de Venezuela SA. A Dec. 15 attack shut down PDVSA’s system, leaving the company to …
Date: Friday, January 16, 2026

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