Insurance Level News and Press

AM Best Rating Acitivity and News

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 ...
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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

IUMI: War Risk Cover Still Available for Middle East Shipping
War risk coverage for the Persian Gulf and the Red Sea is available and will remain so under specific agreements on a single voyage basis as long as navigation is authorized by governments and flag ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

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

Legal Fight Over SpaceX Beach Closures Hits Texas Supreme Court
The Texas Supreme Court pondered how far the state can go in limiting access to a public beach during oral arguments Thursday in a case involving the closure of Boca Chica Beach for SpaceX’s rocket launches. Rio Grande Valley environmentalist …
Date: Friday, March 6, 2026

Florida Tank Company Contesting OSHA Fines After Fatal Incident
The U.S. Occupational Safety and Health Administration recently cited a Land O’Lakes, Florida, firm for exposing workers to chemical and respiratory hazards after a fatal incident last summer. PCE Petroleum Contractors Enterprises, a petroleum tank-service company for gas stations and …
Date: Friday, March 6, 2026

Maritime Insurance Premiums Surge as Iran Conflict Widens
As the conflict in the Gulf widens, maritime insurance premiums for war coverage are surging — in some cases by more than 1000% — dramatically driving up the cost of moving energy through a critical maritime corridor. The conflagration sparked …
Date: Friday, March 6, 2026

Reinsurers Triple Ship Insurance Costs After US Torpedo Attack
London-based reinsurers of ships are canceling their coverage of war risk and demanding 200% more to reinstate policies, according to people familiar with the matter, after a US submarine sank an Iranian warship off Sri Lanka, amplifying risk perceptions. Rates …
Date: Friday, March 6, 2026

New Mexico Jurors Heard From Zuckerberg in Meta Child Safety Trial
Jurors in a bellwether trial about the impacts of social media on children watched a deposition of Meta CEO Mark Zuckerberg on Wednesday that explored what the architects of Facebook and Instagram knew from internal research about the negative experiences …
Date: Friday, March 6, 2026

Wyoming Project Gets First Construction Permit for Nuclear Reactor in Years
The U.S. Nuclear Regulatory Commission on Wednesday approved its first construction permit for a commercial nuclear reactor in eight years, one that will allow a Bill Gates-backed company to build a sodium-cooled reactor in western Wyoming. TerraPower filed for the …
Date: Friday, March 6, 2026

Justin Sun Settles SEC Fraud Case for $10 Million
The Chinese cryptocurrency entrepreneur Justin Sun reached a $10 million settlement to resolve a U.S. Securities and Exchange Commission civil fraud case over his trading activity. Thursday’s settlement requires court approval, with the payment made by one of Sun’s companies. …
Date: Friday, March 6, 2026

Ohio Bill Would Establish Online Auto Insurance Verification
Ohio lawmakers are considering legislation that would establish an online auto verification system intended to hold uninsured drivers accountable. House Representatives Cindy Abrams (R-Harrison) and Jack Daniels (R-New Franklin) are the lead sponsors behind House Bill 678, which requires the …
Date: Friday, March 6, 2026

Michigan Pharmacist Pleads Guilty in $3M Health Care Fraud Scheme
A Michigan pharmacist and business owner who engaged in a five-year pharmacy shortage fraud scheme at two separate pharmacies pleaded guilty on February 24, announced United States Attorney Jerome F. Gorgon, Jr.. Mohammad Hamdan, age 44, from Dearborn Heights pleaded …
Date: Friday, March 6, 2026

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