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

StanChart to Cut Over 7,000 Jobs, Boost AI to Replace ‘Lower-Value Human Capital’
Standard Chartered will eliminate more than 7,000 jobs over the next four years as it seeks to replace “lower-value human capital” with technology, becoming one of the top names in finance to target headcount cuts using artificial intelligence. The London-headquartered …
Date: Tuesday, May 19, 2026

IICF Names Lowery-Biggers CEO
The Insurance Industry Charitable Foundation (IICF) announced the appointment of LoriAnn V. Lowery-Biggers as CEO. Lowery-Biggers brings more than 30 years of experience to the role, having previously served as president of Lloyd’s North America along with executive leadership positions …
Date: Tuesday, May 19, 2026

Tech, Modeling Prove Value-Add to Broker-Client Relationships: McGill’s Karg
Due to the rapid evolution of artificial intelligence, data, and analytics, brokers are gaining the ability to treat the risk of each client separately, said Ashley Karg of McGill and Partners. “There’s more opportunity for brokers to embrace individualizing our …
Date: Tuesday, May 19, 2026

Jury Trial is There if Corporations Need it, Appeals Court Finds in WV Opioid Case
Corporations facing high-profile negligence lawsuits have been known to request a bench trial—held before a judge only and without the risks of plaintiffs’ lawyers playing on the emotions of a 12-person jury. But in West Virginia, the pharmacy benefits manager …
Date: Tuesday, May 19, 2026

Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI
The numbers aren’t all in, but it looks like Progressive is now the biggest private passenger auto insurer, based on an analysis from S&P Global Market Intelligence that shows Progressive muscling past State Farm. S&P GMI estimates Progressive’s U.S. private …
Date: Tuesday, May 19, 2026

Washington Commissioner Issued $167K in Fines in 2Q
A Yakima insurance agent and an unauthorized insurance company are barred from doing business in Washington after Insurance Commissioner Patty Kuderer issued cease-and-desist orders in April. Those were two enforcement actions during the first quarter in which Kuderer issued fines …
Date: Tuesday, May 19, 2026

Volvo Group Agrees to $197M Settlement With California Over Excess Truck Emissions
Truckmaker Volvo Group on Monday agreed to a $197 million settlement with the California Air Resources Board over alleged violations of the state’s heavy-duty engine regulations. The settlement resolves allegations that Volvo failed to properly disclose auxiliary emission control devices …
Date: Tuesday, May 19, 2026

Shipbuilder, Baltimore Officials Seize Upon Criminal Charges Against Dali Manager
The builder of the Dali cargo ship and Baltimore city officials are welcoming the U.S. government’s bringing of criminal charges against the ship’s manager for the deadly and costly collapse of the Francis Scott Key Bridge in 2024. Shipbuilder Hyundai …
Date: Tuesday, May 19, 2026

FAA Admits Faulure to Act on Warnings Before Jet-Copter Collision That Killed 67 People
The head of the Federal Aviation Administration will tell Congress on Tuesday the agency failed to act on warnings prior to the January 2025 fatal collision between an American Airlines regional jet and an Army helicopter that killed 67 people …
Date: Monday, May 18, 2026

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

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