Insurance Level News and Press

AM Best Rating Acitivity and News

HDI Global Appoints Operations Chief
HDI Global has appointed Thomas Kropp to succeed Thomas Kuhnt as chief operating officer and chief information officer, effective July 1. Kuhnt, has decided to step down from the executive board ...
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Source: BestWire

Federal Bill Would Prohibit Insurers From Owning Pharmacies
The United States Congress is considering legislation that would prohibit health insurers and pharmacy benefit managers from owning pharmacies and force divestitures to sever existing relationships, ...
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Source: BestWire

CopperPoint Agrees to Acquire General Indemnity Group, Expanding Nationally
CopperPoint Insurance Co. said it has agreed to acquire the surety insurance business of General Indemnity Group and its subsidiaries from Boston Omaha Corp. The transaction will expand ...
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Source: BestWire

Odyssey Reinsurance Appoints Co-Chief Underwriting Officers for EMEA
Odyssey Reinsurance Co. appointed Tegwen Gromellon and Anne-Claire Serres as co-chief underwriting officers of its Europe, Middle East and Africa division, effective July 1. They succeed Gaël Le ...
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Source: BestWire

Markel Insurance Appoints Head of Global Development, Trade Credit, International
Markel Insurance, the insurance operation within Markel Group Inc., appointed Sebastian Rice to head of global development, trade credit, international, effective immediately. Rice will work ...
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Source: BestWire

Insurance Industry Supports Massachusetts Prior Authorization Regulations
The Massachusetts Association of Health Plans supports new rules to eliminate prior authorization for routine and essential healthcare services but says more needs to be done to address growing ...
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Source: BestWire

Judge Approves $250 Million Omnicare Sale Amid Bankruptcy Proceedings
A bankruptcy judge approved the $250 million sale of CVS Health Corp. unit Omnicare LLC to GenieRx Holdings LLC, a partnership between a private equity firm and healthcare investment and management ...
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Source: BestWire

Nationwide Exec: Commercial Auto Investing More in Risk Management Tech, Including AI Dash Cams
Commercial vehicle policyholders are much more willing to invest in technology and training to reduce risk because they understand the environment they're working in, according to Ken Anderson, ...
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Source: BestWire

Best's Review Looks at How AI Is Streamlining Underwriting
In its May issue, Best’s Review features a discussion with Zurich North America executives about how automation is transforming the insurance landscape. As artificial intelligence collects and ...
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Source: BestWire

AM Best’s Market Briefing in Milan to Present on Analysis of Insurance and Reinsurance Markets and Current Industry Issues; Guy Carpenter’s Italy CEO to Present
AM Best will deliver its latest perspectives, examining trends in the global (re)insurance industry, together with an outline of Italy’s insurance market segment outlooks, in a market briefing ...
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Source: BestWire

AM Best to Speak and Exhibit at IASA Xchange 2026
AM Best will exhibit at IASA Xchange 2026 in New Orleans, Louisiana, June 7–9, 2026. Visit booth 207 to meet with AM Best representatives and discuss a wide range of products and services, ...
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Source: BestWire

Best’s Special Report: Personal Auto and Homeowners Markets’ Stabilization Evident Despite a Decline in Approved Rate Changes
Average annual rate increases for U.S. private passenger auto and homeowners’ policies shifted back to pre-pandemic levels in 2025, following years of large increases amid elevated losses in each ...
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Source: BestWire

AM Best: UAE Insurers Navigate Geopolitical Tensions Following Strong Financial Year
Saad Abbasi, financial analyst, AM Best, discusses a new Best's Market Segment Report that finds, while regional conflict creates macroeconomic uncertainty, its direct impact on core underwriting ...
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Source: BestWire

Best's News: AM Best on Social Inflation Meets Economic Inflation
AM Best Senior Director Sridhar Manyem discussed a presentation he gave at RIMS RISKWORLD in Philadelphia. It looked at how combined social and economic inflation are creating challenges for the ...
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Source: BestWire

AM Best: Warsh’s Fed Leadership Could Be Shift Toward Leaner Central Bank Intervention
AM Best Director Ann Modica explains how Kevin Warsh could steer the U.S. Federal Reserve toward a smaller balance sheet, stricter limits on quantitative easing, and a more traditional approach to ...
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Source: BestWire

Cayman-Based Global Captive Management Expands Into US With Approvals in Two States
Cayman Islands-based Global Captive Management Ltd. said it is entering the U.S. onshore market following approvals in Tennessee and South Carolina. GCM, which has been primarily focused on ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Michigan Secures $108M Settlement with Monsanto for PCB Contamination
Michigan Attorney General Dana Nessel has secured a $108 million settlement with Monsanto Company (PDF), the major manufacturer of polychlorinated biphenyls (PCBs), and affiliated companies Solutia Inc. and Pharmacia LLC to address harms from PCB contamination in the State of …
Date: Monday, May 18, 2026

Business Moves: Vienna Insurance Purchases Nuernberger; Liberty Mutual Raises Stake in India Unit; Aon’s NFP Buys Irish Private Wealth Specialist; Gallagher Buys UK Law Firm
During this month, two insurers and two brokers have announced acquisitions in India and Europe. Details of these deals follow. Vienna Insurance Group Completes Purchase of Germany’s Nuernberger Vienna Insurance Group (VIG) has completed its acquisition of Nuernberger Beteiligungs AG …
Date: Monday, May 18, 2026

Inszone Acquires Florida’s Coastal Insurance, Shepherd Moves to New Bradenton Office
California-headquartered Inszone Insurance Services has continued its hot streak of acquisitions with the purchase of Coastal Insurance Services in Florida and affiliated Optimal Insurance Solutions. The acquisition marks Inszone’s first step into the Florida market, the company said in a …
Date: Monday, May 18, 2026

It’s a Good Thing? Martha Stewart to Get Into Home Insurance With Hint
Hint, a self-described “home management platform,” has launched with a $10 million seed round of funding and the original influencer of all things having to do with the home living. Well-known multimedia mogul and businesswoman Martha Stewart has co-founded Hint …
Date: Monday, May 18, 2026

Investigation Launched into Fatal Small Plane Crash in Northeast Ohio
An investigation began Friday into what caused a small plane to crash into a house in northeast Ohio and explode into flames, killing both pilots aboard. The National Transportation Safety Board was leading the review in Akron, alongside the Federal …
Date: Monday, May 18, 2026

Defense Department Delays Texas Wind Projects, Citing National Security Concerns
Dozens of wind projects in Texas are in limbo after the U.S. Department of Defense paused issuing routine federal permits citing national security concerns, a move that experts say expands the Trump administration’s crusade against wind energy. According to data …
Date: Monday, May 18, 2026

Texas Chick-fil-A Franchisee Sued for Religious Discrimination
Hatch Trick, Inc., a Chick-fil-A franchisee operating multiple locations in Austin, Texas violated federal law by refusing to reasonably accommodate an employee’s request to refrain from working on Saturdays in observance of her Sabbath day and instead fired her, the …
Date: Monday, May 18, 2026

CopperPoint Insurance to Acquire Surety Specialist General Indemnity Group
Boston-based General Indemnity Group (GIG), an insurance holding company specializing in commercial and contract surety, announced that it has agreed to be acquired by CopperPoint Insurance Co., a workers’ compensation and commercial insurance provider based in Phoenix. The transaction includes …
Date: Monday, May 18, 2026

Miami Condo Developer Kapoor Changes Plea to Guilty in $89 Million Fraud Case
A prominent Miami real estate developer who once hired the city’s mayor as a $10,000-a-month consultant has pleaded guilty to money laundering and payroll-tax charges in a $89 million fraud scheme. Rishi Kapoor, who once led Location Ventures and URBIN …
Date: Monday, May 18, 2026

Half of Pilots Killed in US Accidents Tested Positive for Drugs
More than half of pilots killed in US civil aviation accidents between 2018 and 2022 tested positive for at least one drug, the US National Transportation Safety Board said in a report published May 14. Of the 984 pilots who …
Date: Monday, May 18, 2026

Denver Runway Fatality Reveals A Weakness in Airport Security
In less than three minutes, an intruder exploited a security gap at one of the nation’s busiest airports and stepped into the path of an airplane hurtling down a Colorado runway with 231 people aboard. The 41-year-old man slipped unnoticed …
Date: Monday, May 18, 2026

US Sees 27% Increase in Product Recalls in Q1, Report Shows
U.S. product recall activity remained elevated in the first quarter 2026, a new report shows. Sedgwick’s latest U.S. recall report shows the volume of defective products recalled across five U.S. industries rose 27% quarter-over-quarter to 492 million units in the …
Date: Monday, May 18, 2026

34,000 PG&E Customers Without Power on California Fire Risk
More than 34,000 homes and businesses remain without power across PG&E Corp.’s service area after a weekend outage due in part to dry and windy conditions that raised the risk of wild fires. There were 659 outages impacting 34,322 customers …
Date: Monday, May 18, 2026

Iran Starts Bitcoin-Backed Shipping Insurance for Hormuz Strait
Iran has started a Bitcoin-backed insurance service for shipping companies that want to transit the Strait of Hormuz, the semi-official Fars news agency reported, citing documents obtained from Iran’s Ministry of Economy and Financial Affairs. Dubbed Hormuz Safe, the Iranian …
Date: Monday, May 18, 2026

Justice Department Accuses Yale Medical School of Illegally Using Race in Admissions
The Justice Department last Thursday accused Yale University of illegally considering race in admissions to its medical school — the second institution to face discrimination allegations by the federal agency this month. In a letter to a lawyer for Yale, …
Date: Monday, May 18, 2026

New Virginia Ban on ‘Assault Firearms’ Prompts Lawsuits From Gun-Rights Groups
Virginia Gov. Abigail Spanberger has signed legislation banning the sale and manufacture of certain semi-automatic firearms, prompting immediate lawsuits from gun-rights groups. The limits on ” assault firearms,” as they are described by the legislation, are among two dozen new …
Date: Monday, May 18, 2026

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