Insurance Level News and Press

AM Best Rating Acitivity and News

AM Best Affirms Credit Ratings of Instituto Nacional de Seguros
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Instituto Nacional de Seguros (INS) (San Jose, Costa Rica). The ...
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Source: BestWire

California Fair Plan Approved for 29.1% Dwelling Rate Increase
The California Fair Plan received approval to increase dwelling coverage rates by an average of 29.1%, effective Oct. 15 for new and renewing policies. The approved rate is down from the initial ...
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Source: BestWire

New York Enacts Budget With Auto Insurance Provisions
New York has enacted a fiscal year 2027 budget that includes several automobile insurance provisions, including tort reforms championed by the insurance industry. State lawmakers and the ...
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Source: BestWire

Best’s Briefing: Tort Reforms, Heightened Competition Driving Florida Market Stabilization
The Florida property insurance market is rebounding with new carriers bringing capacity into the state, as a confluence of tort reforms, more competition, and improved underwriting results are ...
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Source: BestWire

Prudential Financial Announces More Layoffs for July With 53 Positions Eliminated
Prudential Financial inc. said it intends to eliminate 53 positions in its latest round of reductions, which come amid an effort to pivot out of businesses it doesn't deem growth ...
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Source: BestWire

HDI Global Names Head of Liability Global Risk
HDI Global has appointed Kai Schulte-Schrepping to succeed Daniel Maurer as the head of liability global risk. Maurer has decided to gradually step out of his current leadership role as part of ...
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Source: BestWire

Four Arrested in Louisiana Multimillion-Dollar Auto Insurance Fraud Scheme
Louisiana State Police have arrested four suspects following an investigation into a multimillion-dollar automobile insurance-fraud scheme. State Police said the investigation began after it ...
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Source: BestWire

Lindberg Sentenced to 12 Years for Fraud, Bribery, Related Schemes
Former insurance executive Greg Lindberg was sentenced to 12 years in prison for orchestrating a $2 billion fraud scheme that evolved to include money laundering and bribery, the United States ...
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Source: BestWire

Generali Combines Global Employee Benefits, Travel Insurance Under Redion Brand
Generali Group said it is combining Europ Assistance and Generali Employee Benefits in its global care segment under the Redion brand. Redion plans to improve the speed and quality of services ...
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Source: BestWire

SiriusPoint Names Leaders for Newly Launched Crisis Solutions Business
SiriusPoint Ltd., a global specialty underwriter, launched a new crisis solutions class of business within its London Market specialty division and appointed Paul Beattie and Ed Winter as joint heads ...
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Source: BestWire

Kemper Appoints Former Horace Mann Exec as President-CEO
Kemper Corp. appointed Stephen J. McAnena as president and chief executive officer, effective June 1. McAnena will also join Kemper’s board of directors. Thomas Evans Jr., interim CEO, will ...
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Source: BestWire

AM Best Upgrades Credit Ratings of Reaseguradora Santo Domingo, S.A.
AM Best has upgraded the Financial Strength Rating to “B+” (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bb+” (Fair) of Reaseguradora Santo Domingo, S.A. ...
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Source: BestWire

Perils Keeps November Queensland Storm Loss Estimate Flat at $2.10 Billion
Perlis AG reported little change for a loss estimate for severe convective storms that hit parts of eastern Australia last November at A$2.94 billion ($2.10 billion). The loss estimate fell ...
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Source: BestWire

Atlantic American Receives Nasdaq Noncompliance Notice After Failing to File Financial Reports
Atlantic American Corp. said it received delinquency notifications from Nasdaq because the company failed to file a Form 10-Q for the first quarter as well as an annual report for 2025. The ...
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Source: BestWire

Hawaii Sees Captives Bump in 2026 as Japan Eyes Potential Captive Regime
Hawaii had a strong start to the year in terms of captive formations, with as many as 10 or 12 expected to begin operations by June, compared with 12 or 15 in most full years. Paul Shimomoto, who ...
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Source: BestWire

Weekly Calendar: AM Best to Participate in Several Industry Events
AM Best will be participating in many industry events including the 2026 CAS Seminar on Reinsurance, the Bermuda Captive Conference, the 2026 IAIP Convention and the IASA Xchange 2026 in New Orleans. ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

4 Arrested in Louisiana Insurance Fraud Scheme
The Louisiana State Police Insurance Fraud / Auto Theft Unit (IFAT) has arrested four individuals following an investigation into an alleged automobile insurance fraud scheme in Iberia Parish The investigation began after a criminal referral from Timber Creek Insurance Services …
Date: Wednesday, May 27, 2026

Northwestern Medicine Agrees to Pay $325K in Religious Discrimination Case
Northwestern Medicine agreed to pay $325,000 in monetary relief to a class of employees denied vaccine exemptions because of their religious beliefs or practices and to provide other relief following an investigation by the U.S. Equal Employment Opportunity Commission (EEOC). …
Date: Wednesday, May 27, 2026

India’s Prized Alphonso Mango Crop Ruined by Weather
In India’s western state of Maharashtra, mango farmer Komal Walke is scrambling to meet orders from India’s online grocers after her family’s three acres of orchards produced almost no Alphonso mangoes this year. Walke, a 26-year-old horticulturist in the coastal …
Date: Wednesday, May 27, 2026

World Acquires Kansas’ Agency West
World Insurance Associates LLC announced that it acquired the business of Agency West Insurance of Olathe, Kansas on February 1, 2026. Terms of the transaction were not disclosed. Agency West has been operating in Kansas for many years. They serve …
Date: Wednesday, May 27, 2026

Markets/Coverages: Amiga Specialty Secures Lloyd’s Capacity for New Yachts Division
Amiga Specialty, the London-based managing general agent, has secured £/$25 million of “A”-rated capacity with global Lloyd’s licensing for its Yachts division, marking an important step in the development of its specialist marine offering. The capacity will support Amiga Specialty’s …
Date: Wednesday, May 27, 2026

EEOC Sues Buc-ee’s for Alleged Disability Discrimination at Texas Store
Buc-ee’s, Ltd., a travel center retailer with locations throughout Texas and in 10 other states, violated federal law when it denied a disabled employee reasonable accommodations and subsequently terminated him, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a …
Date: Wednesday, May 27, 2026

People Moves: Aon Promotes Hoffman as Global CEO of Commercial Risk; HDI Global Names Schulte-Schrepping as Head of Liability Global Risk, Succeeding Maurer
This edition of International People Moves details appointments at Aon and HDI Global. A summary of these new hires follows here. Aon Promotes Hoffman to Global CEO of Commercial Risk Insurance broker Aon plc announced the appointment of Christian Hoffman …
Date: Wednesday, May 27, 2026

SEC Chairman Eyes ‘Gun-Jumping’ Rule Changes to Spur More IPOs
The Securities and Exchange Commission is mulling changes to decades-old rules that prohibit companies from certain communications during the going-public process, as the Wall Street regulator looks to boost initial public offerings. SEC Chairman Paul Atkins said he would welcome …
Date: Wednesday, May 27, 2026

Insurers Settle in Wrongful Conviction Case, Can’t Yet Escape Sex Trafficking Coverage
Insurance carriers are not off the hook in two high-profile lawsuits involving alleged sexual abuse and millions of dollars in defense costs and indemnity—one in North Carolina and one in Georgia. In the North Carolina case, Ohio Casualty Insurance Co., …
Date: Wednesday, May 27, 2026

Fatalities Reported in Washington State Packaging Facility Explosion
An accident at a Washington state packaging facility has left at least one person dead, nine missing and nine others injured, with crews working to contain a ruptured tank of caustic chemicals. The incident occurred Tuesday morning at Nippon Dynawave …
Date: Wednesday, May 27, 2026

California Officials Lift Evacuation Orders for Residents Near Damaged Chemical Tank
Southern California officials lifted the final evacuation orders Tuesday night for residents who live near a damaged chemical tank, allowing 16,000 people to return home. The crisis that began Thursday had forced 50,000 people to evacuate in and around the …
Date: Wednesday, May 27, 2026

OpenAI’s Altman Says AI Unlikely to Lead to ‘Jobs Apocalypse’
OpenAI CEO Sam Altman said on Tuesday the rapid development and adoption of AI would not lead to a global “jobs apocalypse” and the technology had not claimed as many white-collar jobs as he had feared. Speaking virtually at a …
Date: Wednesday, May 27, 2026

Bezos’ Blue Origin Plans $600 Million Expansion in Florida
Blue Origin, the aerospace company founded by billionaire Jeff Bezos, will invest $600 million to expand its Rocket Park campus in Cape Canaveral, Florida, according to a statement from Governor Ron DeSantis. The planned 830,000-square-foot manufacturing facility will increase the …
Date: Wednesday, May 27, 2026

Initial Report Finds Fatal Fire, Explosion at Maine Lumber Mill Was Accidental
A huge fire and explosion at a lumber mill in Maine on May 15 that took the life of a 27-year-old firefighter and injured a dozen others is believed to have been accidental, according to an initial investigation by state …
Date: Wednesday, May 27, 2026

Insurance Mogul Lindberg Gets 12 Years for $2 Billion Fraud
North Carolina investment firm founder Greg Lindberg was sentenced Tuesday to 12 years in prison for siphoning more than $2 billion in reserves backing insurance policies and using the proceeds to pay for jets, mansions and a 214-foot yacht. Lindberg, …
Date: Wednesday, May 27, 2026

Climate Change Fueling Growth of Antibiotic-Resistant Salmonella
Climate change is linked to a 10% global increase in antibiotic-resistance genes in Salmonella, according to new research that suggests warming temperatures and shifting rainfall patterns could accelerate the spread of hard-to-treat infections. The study — conducted by researchers from …
Date: Wednesday, May 27, 2026

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