Insurance Level News and Press

AM Best Rating Acitivity and News

Connecticut AG, Lawmakers Opposing Double-Digit Health Insurance Rate Requests
Health insurers are requesting to raise Connecticut’s individual market rates an average of 16.2% and small group rates an average of 17.8%, requests that drew sharp rebukes from the state’s attorney ...
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Source: BestWire

Retirees Seek Judge's Approval of $23 Million Settlement Proposed by Metropolitan Life
Retirees suing Metropolitan Life Insurance Co. over the mortality tables used to calculate some annuity payments are asking a federal judge to approve a $23 million settlement with the ...
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Source: BestWire

AmTrust Units Accuse Law Firm, Healthcare Providers in Personal Injury Fraud
A trio of insurers affiliated with AmTrust Financial Services Inc. are accusing a New York law firm and a group of healthcare providers of a sweeping fraud scheme that exploited the state’s personal ...
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Source: BestWire

Maine Insurance Bureau Superintendent Retires
Maine Bureau of Insurance Superintendent Robert Carey retired from the role on June 5, and Deputy Superintendent Tim Schott was tapped to fill the role in an acting capacity. Carey was nominated ...
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Source: BestWire

AM Best to Exhibit at Florida Association of Insurance Agents’ 2026 Convention and Education Symposium
AM Best will be exhibiting during the Florida Association of Insurance Agents’ (FAIA) 122nd Convention and Education Symposium, which is scheduled to take place June 17–19, 2026, at the Gaylord Palms ...
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Source: BestWire

Captive Risk Management, Ross Automotive Consultants Partner on Captive Insurer
Captive Risk Management and Ross Automotive Consultants have partnered to launch a captive offering car dealerships wind and hail coverage. RAC, which offers finance and insurance services to ...
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Source: BestWire

AM Best Assigns Issue Credit Rating to Teachers Insurance and Annuity Association of America’s Forthcoming Surplus Notes
AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “aa” (Superior) to the forthcoming $2 billion, 30-year surplus notes to be issued by Teachers Insurance and Annuity Association ...
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Source: BestWire

AM Best to Hold Analytical Briefing on How Insurers Are Using Artificial Intelligence
AM Best will hold an analytical briefing on the state of artificial intelligence (AI) use in the insurance industry and what the future holds, based on a recent AM Best survey,  scheduled for ...
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Source: BestWire

Best’s Market Segment Report: U.S. Director & Officers’ Liability Remains Profitable, But Warning Signs Are Evident
Premium generated from U.S. directors and officers’ (D&O) liability coverage declined for a fourth straight year in 2025, reflecting heightened competition in the segment as warning signs loom over ...
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Source: BestWire

Aon: Severe Storms Likely Leave Hundreds of Millions of Dollars of Losses on Three Continents
Insurers in the United States, Europe and Australia each incurred what is likely to be hundreds of millions of dollars of losses from late May and early June severe storms, according to Aon. In ...
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Source: BestWire

AM Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited Senior Unsecured Notes
AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the recently issued $750 million, 6.2% senior unsecured notes, due June 2056, of Fairfax Financial Holdings Limited ...
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Source: BestWire

Howard Hughes Holdings Completes $2.1 Billion Vantage Acquisition
Howard Hughes Holdings Inc. has completed its $2.1 billion acquisition of specialty insurer and reinsurer Vantage Group Holdings Ltd. With the closing, HHH is infusing $200 million of capital in ...
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Source: BestWire

Experienced Politicians, Insurance Pro Pull Ahead in California Commissioner Race
Jane Kim, a former San Francisco supervisor and political operative, state Sen. Ben Allen and insurance professional Stacy Korsgaden are carrying early leads in the primary elections for California ...
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Source: BestWire

AM Best Upgrades Issuer Credit Ratings of National Security Fire and Casualty Company and National Security Insurance Company; Upgrades Credit Ratings of Omega One Insurance Company, Inc.
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” (Fair) from “bb” (Fair) and affirmed the Financial Strength Rating (FSR) of B (Fair) of National Security Fire and ...
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Source: BestWire

Allianz Partners Agrees to $35.7 Million Deal for Remaining Nib Travel Insurance Business
Allianz Partners said it has agreed to acquire a large portion of nib's travel insurance business in Australia and New Zealand in an A$50 million ($35.7 million) deal. A$20 million of that is ...
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Source: BestWire

Missouri Insurance Department: More Than $2.9 Billion Paid on 2025 Cat-Weather Claims
Property/casualty insurers have paid out more than $2.9 billion in claims related to 2025 serve weather events, including May tornado that hit St. Louis, as of May 25, the Missouri Department of ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

People Moves: Specialty MGA Taps Marsh’s Smithson to Head Global Financial Lines and Cyber Division; UIB Names Burns and Wilcox’s Webb as Divisional Director – Binders
This edition of International People Moves details appointments at Specialty MGA and United Insurance Brokers (UIB). A summary of these new hires follows here. Specialty MGA Taps Marsh’s Smithson to Head Global Financial Lines and Cyber Division Specialty MGA, a …
Date: Monday, June 8, 2026

Markets/Coverages: Willis Expands Int’l Property Facility, With $60M Follow Capacity
Willis, a WTW business, announced the expansion of its international property facility, now able to offer up to US$60 million of follow capacity per placement. The facility’s expanded lead panel of Lloyd’s syndicates is able to quote competitively across a …
Date: Monday, June 8, 2026

People Moves: CorVel Names Scott as CEO and President
CorVel announced that Sarah Scott will be appointed CEO and President, effective July 1, 2026, succeeding Michael G. Combs, who will transition to the role of Executive Chair. Mr. Combs has served as President since 2017 and CEO since 2019, …
Date: Monday, June 8, 2026

Tyco to Pay $10M Settlement With Wisconsin Over PFAS Contamination
The manufacturer of a firefighting foam that contaminated the water supply in northeastern Wisconsin with PFAS chemicals for decades agreed to a $10 million settlement with the state, the governor and attorney general announced on Thursday. The settlement comes as …
Date: Monday, June 8, 2026

Illinois Joins Ohio in Ordering Pause on Data Center Tax Credits
Governor JB Pritzker issued an order pausing state tax incentives for data centers in Illinois after the state legislature stalled his plan to keep data-center energy costs from affecting local residents’ bills. Pritzker, a Democrat seeking his third term, said …
Date: Monday, June 8, 2026

Deadly Screwworm Pest Spreads in Texas With Two New Cases
The US Department of Agriculture confirmed an additional two cases of New World screwworm in Texas, bringing the total number of detections in the US to four and raising concerns that the parasite is spreading in the state. The parasitic …
Date: Monday, June 8, 2026

Hail Fire: NC Couple Charged With Making Duplicate Claims for Same Damage
A North Carolina couple this week was awaiting court action after they were charged with filing claims with two different insurance carriers—State Farm and Homesite Insurance, court records show. Gurjant Singh Gill, 42, and Karmpreet Kaur Gill, 41, of Raleigh, …
Date: Monday, June 8, 2026

D&O Market Expected to Tighten Under Pressure, Says AM Best
Analysts at insurance rating firm AM Best said there are “warning signs” for the directors & offers liability market, leading to shrinking underwriting margins and a tighter environment for buyers in 2026. In a new report, AM Best said 2025 …
Date: Monday, June 8, 2026

Thai Consumer Watchdog to File Civil Suit Against Volvo Cars’ Thai Unit, Official Says
Thailand’s consumer watchdog has approved the filing of a civil lawsuit against the local unit of Volvo Cars and its repair and maintenance unit, Scandinavian Auto Co. Ltd, over battery-related fires in its EX30 model, Pradoemchai Bunchualuai, an adviser to …
Date: Monday, June 8, 2026

Miami Moves to Seize Part of Posh Island After Fuel Fight
Miami’s mayor is moving to forcibly acquire 10 acres of land on Fisher Island, one of the priciest ZIP codes in the US, from real estate developers who want to replace a maritime fuel facility with swanky new condominiums. The …
Date: Monday, June 8, 2026

Jury Awards $176M for Wrongful Deaths of Brothers Hit by California Socialite’s Car
A Los Angeles jury has awarded $176 million to the parents of two young brothers killed in a hit-and-run collision when a California socialite’s car struck them in a crosswalk nearly six years ago. The jury found both Rebecca Grossman …
Date: Monday, June 8, 2026

Mastercard, American Eagle Boost Pride Month Spending Despite Backlash
US companies are spending more on LGBTQ causes and Pride Month events this June, a notable turnaround after years of retreat and anti-DEI backlash. Mastercard Inc. is increasing spending, including paying for about 100 employees and executives to march in …
Date: Monday, June 8, 2026

Court Rejects NRA Ex-Leader LaPierre’s Appeal of NY’s $4.3M Judgment
A New York state appellate court has rejected Wayne LaPierre’s appeal of the monetary judgment and injunction levied against him after a state jury in 2024 found that he violated his fiduciary duties in his role as an officer of …
Date: Monday, June 8, 2026

UK’s Legal & General Says Energy Transition Is ‘Alive and Well’
Investors are underestimating the pace of the energy transition, putting both financial returns and climate goals at risk, according to Legal & General Group Plc. In a report published Monday, the UK insurer and asset manager warned against what it …
Date: Monday, June 8, 2026

People Moves: Maine Insurance Superintendent Carey Retires
Superintendent Robert Carey retired from the Maine Bureau of Insurance (BOI) on June 5, the Department of Professional and Financial Regulation announced. Deputy Superintendent Tim Schott has been named acting superintendent. Nominated by Governor Janet Mills as superintendent in 2024, …
Date: Monday, June 8, 2026

Trump Approves $700 Million in Bid to Revive Coal Industry
President Donald Trump said he would marshal hundreds of millions of US taxpayer dollars behind his bid to revitalize the coal industry in America, steering funds to build new power plants, sustain existing operations and construct an export terminal in …
Date: Monday, June 8, 2026

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