Insurance Level News and Press

AM Best Rating Acitivity and News

Rhode Island Lawmakers Consider Ending P/C Insurers' Dealings With Fossil Fuel Projects
A bill introduced in the Rhode Island General Assembly would eventually end property/casualty insurers underwriting and investment in fossil fuel projects. House bill 8219 would prohibit ...
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Source: BestWire

AM Best Affirms Credit Ratings of The Cigna Group 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 key U.S. life/health subsidiaries and ...
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Source: BestWire

Washington Insurance Regulator Proposes Pushing Back Premium Transparency Rules
Washington Insurance Commissioner Patty Kuderer is hoping to extend the implementation timeline for new premium change transparency rules to give insurers more time to comply. The rules covering ...
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Source: BestWire

US Development Finance Corp: Political Risk Insurance, Guaranty Products Ready for Gulf
The United States International Development Finance Corp. said it is ready to mobilize its political risk insurance and guaranty products in response to the war in Iran and any potential economic ...
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Source: BestWire

AM Best Affirms Credit Ratings of Equitable Holdings, Inc. and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Equitable Financial Life Insurance Company of ...
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Source: BestWire

TDC Group President: Inflation, Nuclear Verdicts Reshape Medical Malpractice Risk
Robert White, president, The Doctors Co. and TDC Group, discusses how social inflation and nuclear verdicts are driving higher medical professional liability losses and challenging pricing and ...
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Source: BestWire

QBE Promotes Exec to Newly Created General Manager for Canada Role
QBE promoted Scott Pidduck to the newly created role of general manager for Canada, effective April 1. In his new role, Pidduck will be based in Toronto, and he will focus on driving continued ...
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Source: BestWire

Hamilton Global Specialty Appoints Successor to Retiring CUO
Hamilton Insurance Group Ltd. has appointed Sinead Cormican to succeed Miles Osorio as chief underwriting officer at Hamilton Global Specialty, its London-based underwriting platform. Osorio will ...
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Source: BestWire

Investment Adviser Convicted of Viatical Life Scheme Targeting NBA Players
An investment adviser was convicted of defrauding three NBA players of more than $5 million through a scheme involving inflated sale prices for viatical life insurance settlements. From 2017 to ...
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Source: BestWire

Scor CEO Expects 'Negligible' Claims Impact From Middle East Conflict
Scor SE's chief executive officer said the reinsurer expects a negligible immediate claims impact from the Middle East conflict. War is excluded in general from Scor's contracts, CEO Thierry ...
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Source: BestWire

Principal Financial Acquires DentaNet, the Largest Dental Network in Alabama
Principal Financial Group said it has entered into a definitive agreement with Southland Benefits Solutions to acquire its DentaNet dental network, the largest in Alabama. Principal said it will ...
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Source: BestWire

American Family Annual Net Income Rises as Underwriting Gain Multiplies to $2.6 Billion
American Family Insurance Group's annual net income rose to $3.18 billion from $2.53 billion a year earlier as the net underwriting gain multiplied four-fold to $2.6 billion. "While industry ...
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Source: BestWire

AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Insurance Corporation of Barbados Limited
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Insurance ...
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Source: BestWire

QBE Appoints Two Leaders to Newly Launched Insurance Offering in Bermuda
QBE launched its primary insurance offering in Bermuda as part of its international markets business and appointed Saadia Savory as vice president casualty, insurance, for Bermuda, and Will Jackson ...
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Source: BestWire

Swiss Re Appoints Head of Life and Health Reinsurance Business in Asia-Pacific
Swiss Re’s life and health reinsurance business unit appointed Tamas Bown to lead its business in the Asia-Pacific region, excluding China, effective April1, subject to necessary regulatory ...
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Source: BestWire

Beazley Pares Cyber Portfolio Amid Rate Softening
Beazley plc pared its cyber exposure as rates continued to soften despite high-profile events while the group said it remains confident in its property portfolio. "In 2025, Beazley delivered ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Oil Tanker Suffers Explosion as Risks Spread Wider Into Gulf
An oil tanker suffered an explosion off the coast of Iraq which damaged a tank that is losing water, signaling wider risks to shipping in the Persian Gulf beyond the Strait of Hormuz. The Sonangol Namibe was approached by a …
Date: Thursday, March 5, 2026

London Marine Insurers Still Offering Middle East Cover as War Risk Rates Rise: Broker
Marine insurers in the London market continue to offer cover in the Middle East, despite rising war risk premiums driven by escalating conflict in the Gulf, insurance broker Gallagher’s Marine Divisional Director Angus Blayney said on Wednesday. Rates have increased …
Date: Thursday, March 5, 2026

Travelers Stranded by War Learn Insurance Won’t Cover Flight Cancellations
As the war in Iran grounds flights worldwide, hundreds of thousands of travelers scrambling to get home are discovering a harsh reality: their travel insurance won’t cover replacement flights or extended hotel stays. Insurers, including industry giants Allianz SE and …
Date: Thursday, March 5, 2026

Marsh, Aon in Talks With US on Insuring Tankers in Hormuz
Marsh and Aon Plc, two of the world’s largest insurance brokers, are in talks with the US government on a plan to help insure tankers navigating the Strait of Hormuz energy chokepoint. President Donald Trump said on Tuesday the US …
Date: Thursday, March 5, 2026

AmFam Reports Underwriting Profit, Top-Line Decline for 2025
American Family Insurance reported $2 billion more underwriting profit in 2025, compared with 2024—pointing to “deliberate customer-driven strategic actions and a lower level of catastrophe losses to explain the favorable result. The actions meant declines on the top line, the …
Date: Thursday, March 5, 2026

Bayer’s $7.25B Roundup Settlement Gets Initial OK From Judge
A state court judge in Missouri gave an initial green light on Wednesday to a proposed $7.25 billion settlement to resolve thousands of lawsuits claiming Bayer’s Roundup weedkiller causes cancer. Judge Timothy Boyer in St. Louis granted preliminary approval to …
Date: Thursday, March 5, 2026

How State Farm, USAA Boost Customer Retention: Historic Dividends
While competition in personal auto insurance is rising to levels high enough to dent customer retention at GEICO, a giant mutual insurer and a reciprocal exchange have both tapped into a customer-friendly option unavailable to large stock insurers. State Farm …
Date: Thursday, March 5, 2026

Viewpoint: Business Interruption Insurance Must Catch Up With Climate Volatility
In the wake of recent weather events around the world, whether it’s the bomb cyclone that hit the US from the Gulf Coast to New England, or the combination of Storms Ingrid and Chandra battering the south coast of the …
Date: Thursday, March 5, 2026

Banks on High Alert for Cyberattacks as Iran War Escalates
The U.S. financial services industry is on heightened alert for potential cyberattacks amid the unfolding U.S. war in Iran, with firms stepping up monitoring for threats that often rise during periods of geopolitical conflict, said executives and analysts. The killing …
Date: Thursday, March 5, 2026

Viewpoint: Alabama Needs Tort Reform, Too, as Litigation Costs Rise
Editor’s note: No significant tort-reform legislation is currently making its way through the Alabama Legislature. But at least one state senator is calling for action. Good news continues to roll out of the Sunshine State. Florida Governor Ron DeSantis recently …
Date: Thursday, March 5, 2026

Westchester Close to Settling on Hurricane Sally Condo Claim That Topped $230M
Westchester Surplus Lines Insurance has reached a settlement with a Florida condominium association in a hurricane claim, three years after the condo claimed damages that insurers said were so inflated that they were termed “outrageous.” “This matter involves an egregious …
Date: Thursday, March 5, 2026

Primary Carrier’s Insolvency Triggers Excess Carrier’s Obligation
A waterworks products company facing asbestos claims is entitled to tap its Chubb excess insurance policy because its primary insurance has been “exhausted” as a result of the primary carrier’s insolvency and its inability to pay any covered claims. A …
Date: Thursday, March 5, 2026

People Moves: Merchants Insurance Appoints Walkup as Head of Claims
Merchants Insurance Group, headquartered in Buffalo, New York, appointed Pete Walkup as its vice president, head of claims. Walkup oversees all claims operations, with an emphasis on operational performance, process modernization, and delivering value to policyholders. Walkup joins Merchants from …
Date: Thursday, March 5, 2026

Cal/OSHA Fines Fabricator $212K Over Employee Finger Amputation
California safety regulators levied a heavy fine against a metal fabricator over an incident that cost a worker a finger. Cal/OSHA fined All FAB Precision Sheetmetal $212,850 after a June 2025 press brake incident in San Jose amputated a worker’s …
Date: Thursday, March 5, 2026

New York City Paid $117 Million Last Year for Police Misconduct Settlements
New York City paid more than $117 million last year to settle police misconduct lawsuits in cases ranging from the violent arrests of protesters in 2020 to bad police work that led to wrongful convictions in the 1980s, according to …
Date: Thursday, March 5, 2026

Painter Admits He Fraudulently Collected $10K in Workers’ Comp After Returning From Injury
A New York man who claimed he could not work because of an ankle injury sustained in his work as a painter collected more than $10,000 in workers’ compensation wage replacement benefits while concealing he was back on the job. …
Date: Thursday, March 5, 2026

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