Insurance Level News and Press

AM Best Rating Acitivity and News

Federal Judge Dismisses Lawsuit Over Weyerhaeuser PRT Deal in Latest Win for Athene
A federal judge in Washington moved to dismiss a lawsuit filed by former employees at Weyerhaeuser Co. over a pension risk transfer transaction with Athene Holding Ltd., saying the deal did not ...
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Source: BestWire

Best's Briefing: European MGAs Branch Out as Landscape Changes
European managing general agents have shifted in recent years beyond offering just a single line of business as they've become a more crucial part of the insurance market, said Tim Lamm chief ...
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Source: BestWire

AM Best Upgrades Credit Ratings of Fidvest US LLC
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Fidvest US LLC (Fidvest) ...
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Source: BestWire

Louisiana Moves Bills on Workers’ Comp Fee Schedule, Ending Workers’ Comp Council
The Louisiana House of Representatives passed bills that would change how the workers’ compensation reimbursement schedule is updated and eliminate the state’s Workers’ Compensation Advisory ...
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Source: BestWire

AM Best Director: Financial Markets Are Likely to Remain Volatile as Middle East Conflicts Persist
Ann Modica, director, AM Best, explores the potential spillover effects for the global economy, how it might impact monetary policy decisions, and which countries and regions are most vulnerable to ...
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Source: BestWire

Request to Modify Geisinger Acquisition Plan, Lower RBC Requirements Faces Opposition
A request to modify Kaiser Foundation Hospitals and Risant Health Inc.’s plan to acquire Geisinger Indemnity Insurance Co. and related companies is facing opposition over concerns about the lowering ...
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Source: BestWire

AM Best Revises Outlooks to Negative for Oswego County Mutual Insurance Company
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Oswego County Mutual ...
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Source: BestWire

AM Best Affirms Credit Ratings of CNO Financial Group, Inc. and Its Life/Health 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 life/health insurance subsidiaries of CNO ...
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Source: BestWire

Baldwin Group Launches Member-Owned Construction Captive Azimuth Re
Independent brokerage and advisory firm Baldwin Group launched Azimuth Re Ltd., a member-owned captive the company said is tailored to its construction clients. Baldwin Group, which handles both ...
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Source: BestWire

InsurTech Fund Partner: Embedded Insurance Set to Dominate as AI Drives Shift
Tarun Chopra, venture partner, InsurTech Fund, discusses how embedded insurance and artificial intelligence are changing distribution, fueling investment in cyber, parametric and climate solutions. ...
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Source: BestWire

Marsh Raises Cyber Echo Facility Limit to $200 Million
Marsh Risk raised the limit of its Cyber Echo insurance facility to $200 million as part of an annual features update. Cyber Echo now offers all clients a free coverage reinstatement option and a ...
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Source: BestWire

AM Best Affirms Credit Ratings of FAIR Oil & Energy Insurance Syndicate
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of FAIR Oil & Energy Insurance Syndicate (the Syndicate) (Bahrain). The outlook ...
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Source: BestWire

AM Best Assigns Credit Ratings to Sociedad de Seguros Mutuos Marítimos de Vigo, Mutualidad de Seguros y Reaseguros a Prima Fija
AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to Sociedad de Seguros Mutuos Marítimos de Vigo, Mutualidad de Seguros y Reaseguros ...
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Source: BestWire

Oregon Adopts Rules on Premium Notifications, Affordable Housing Premium Assistance Program
The Oregon Department of Consumer and Business Services adopted regulations to update notification requirements for personal lines premium increases and create the Affordable Housing Premium ...
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Source: BestWire

Rokstone Dubai Launches International Casualty Binder in Middle East Expansion
Rokstone, a specialty (re)insurance managing general agent, said it has launched a new international casualty binder from its Dubai office in a move that will expand its footprint in the Middle ...
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Source: BestWire

CMS Finalizes Higher-Than-Expected 2027 Medicare Advantage Payment Rates
The Centers for Medicare and Medicaid Services finalized a higher-than-expected 2.48% net average rate increase for 2027 Medicare Advantage and Part D payments. The finalized rate is higher than ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Israel Intensifies Lebanon Strikes With Ceasefire in Doubt
Israel launched its largest assault on Lebanon since the start of its invasion, escalating the campaign against Iran-backed Hezbollah even after the US announced a ceasefire in the wider Middle East conflict. The Israeli military said Wednesday it targeted more …
Date: Thursday, April 9, 2026

Paramount President Jeff Shell to Depart After Lawsuit Scandal
Jeff Shell is stepping down as president of Paramount Skydance Corp. following a contentious lawsuit by a high-stakes gambler who accused him of leaking inside information. Shell, who served as the No. 2 executive under Chief Executive Officer David Ellison, …
Date: Thursday, April 9, 2026

Hormuz Stays Blocked for Now as Hundreds of Ships Seek Exit
The Strait of Hormuz remained largely blocked on Wednesday, as shipowners try to understand if they can safely transit the vital waterway following a fragile ceasefire between the US and Iran that was announced overnight. Just three ships were observed …
Date: Thursday, April 9, 2026

Shippers Rush for Hormuz Insurance After Truce Deal, Broker Says
Shipowners are placing “huge volume requests” for insurance cover as they look to transit the Strait of Hormuz following the US-Iran ceasefire deal, according to broker McGill and Partners. With the increased demand from the market also comes “a pronounced …
Date: Thursday, April 9, 2026

Anthropic Touts AI Cybersecurity Project With Big Tech Partners
Anthropic announced an initiative with major technology companies, including Amazon.com, Microsoft and Apple, that lets partners preview an advanced model with cybersecurity capabilities developed by the AI startup. Under its “Project Glasswing,” select organizations will be allowed to use the …
Date: Thursday, April 9, 2026

FDIC Lays Out Guidelines for Institutions Issuing Stablecoins
The Federal Deposit Insurance Corp., which backs deposits at thousands of US banks, is laying out its guidelines for how those institutions and their fintech subsidiaries can use stablecoins as digital currencies become more widely accepted in the financial system. …
Date: Thursday, April 9, 2026

SEC Enforcement Activity Drops Dramatically as Agency ‘Resets’
Enforcement cases brought by the U.S. Securities and Exchange Commission fell more than 20% in the latest fiscal year as the regulator “recentered” its enforcement program, the agency said April 7. The SEC brought 456 enforcement actions in the fiscal …
Date: Thursday, April 9, 2026

Gallagher Clarifies Non-Ownership of Florida Firm Guilty of Bogus ACA Sign-ups
Six weeks after leaders of scheme to sign up south Florida homeless people for Affordable Care Act policies were sentenced to years in prison, the companies involved have agreed to pay more than $135 million to resolve a federal investigation. …
Date: Thursday, April 9, 2026

Contractor Faces $4.6 Million in OSHA Fines After Fatal Trench Collapse
A Massachusetts water and sewer line construction contractor is facing $4,699,362 in proposed penalties for safety violations related to a trench collapse that claimed the life of an employee and seriously injured another at a Cape Cod worksite. A federal …
Date: Thursday, April 9, 2026

People Moves: Booher Named President & CEO of CopperPoint Insurance
CopperPoint Mutual Insurance Holding Company named Kellen Booher president and CEO. Booher succeeds CEO and Board Chair Marc Schmittlein, who announced his retirement last year. Schmittlein joined CopperPoint in 2016 and was appointed executive chair of the CopperPoint board of …
Date: Thursday, April 9, 2026

Berkshire-Owned PacifiCorp Wins Ruling That Could Reduce Oregon Wildfire Damages
An appeals court on Wednesday ruled in favor of Berkshire Hathaway’s PacifiCorp unit over a series of Oregon wildfires in 2020, saying a trial judge erred in letting litigation against the utility proceed as a class action. The decision by …
Date: Thursday, April 9, 2026

Judge Trims Wrongful Death Suit Claims Over Spicy Chip Challenge
A federal judge in Massachusetts has dismissed claims against Walgreens but allowed some claims against the The Hershey Co. and its affiliate food manufacturers Paqui and Amplify Snack Brands, Inc. to proceed in a wrongful death lawsuit brought by the …
Date: Thursday, April 9, 2026

California Workers’ Comp Bureau Upping Fee for Special Inspections
The Workers’ Compensation Insurance Rating Bureau of California will increase the fee for special inspections from $200 to $500 per location inspected. Special Inspections, conducted at the request of an insurer, broker or agent of record to confirm classifications, are …
Date: Thursday, April 9, 2026

Nantucket Flight Returns After Part of Cabin Door Opens Midair
A Cape Air flight departing from the Massachusetts island of Nantucket returned safely after part of the main cabin door opened shortly after takeoff, an alarming midair incident that prompted the crew to turn back. The aircraft remained stable and …
Date: Wednesday, April 8, 2026

Another State, Tennessee, Warns Insurers About the Proper Use of Drone Images
The Tennessee Department of Commerce and Insurance has joined a few other states in urging insurers to be careful about using aerial imagery in making claims and nonrenewal decisions, following some complaints from homeowners. The department is not aiming to …
Date: Wednesday, April 8, 2026

Texas Cannabis Businesses Sue State to Block Smokeable Hemp Ban
Texas hemp industry leaders and advocacy groups have sued the state to block new regulations that eliminate natural smokeable hemp products and increase licensing fees. The Texas Hemp Business Council, Hemp Industry & Farmers of America, and several Texas-based dispensaries …
Date: Wednesday, April 8, 2026

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