Insurance Level News and Press

AM Best Rating Acitivity and News

Florida Approves Three More Homeowners Writers, Boosting Post-Reform Number to 20
Three more property/casualty carriers are entering a market where competition is thriving since legislative reforms were enacted, according to Florida Insurance Commissioner Mike ...
Date:
Source: BestWire

Oklahoma Hosting Homeowners Market Hearing Following File, Use Bill Signing
The Oklahoma Department of Insurance said it will host a hearing on competition in the state’s home insurance market, an announcement triggered by the recent enactment of file-and-use ...
Date:
Source: BestWire

Allstate: Pretax Cat Losses Could Reach $870 Million in April, Largely From Two Events
Allstate Corp. incurred an estimated $870 million in pretax catastrophe losses in April from 10 wind-and-hail events, it said. Two events were notably damaging, generating about 70% of the ...
Date:
Source: BestWire

Connecticut Eases Rules for E&S Lines Placement
Connecticut enacted a law eliminating due-diligence requirements and related documentation rules agents and brokers had to follow prior to placing a risk in the excess and surplus lines ...
Date:
Source: BestWire

European Firm Orvia Underwriting Enters Dutch Market Aimed at High Net Worth Business
Pan-European managing general agent platform Orvia Underwriting has entered the Dutch market, as it transitions to a scalable, international organization. Orvia Underwriting said in a statement ...
Date:
Source: BestWire

Providence Health Plan Exiting Most Insurance Lines in 2027
Providence Health Plan said it will exit most of its health insurance lines of business starting in 2027. The company said the decision will affect its individual, family, employer group and ...
Date:
Source: BestWire

Acrisure Plans to Lay Off 11% of Workforce as Tech, AI 'Fundamentally' Change Business
Global broker Acrisure plans to lay off about 11% of its workforce as advancing technology and artificial intelligence fundamentally changes how businesses operate, according to a memo distributed to ...
Date:
Source: BestWire

Markel Insurance Names Head of Fine Art and Specie
Markel Insurance has appointed Danny O’Donoghue to head of fine art and specie, effective immediately. O’Donoghue will be based in London and will be responsible for leading the strategic and ...
Date:
Source: BestWire

MGA Platform Sands Point Risk Acquires Launch Environmental Underwriters
Multi-program managing general agent platform Sands Point Risk has acquired Launch Environmental Underwriters in what the company said is its largest acquisition to date. Sands Point said Launch ...
Date:
Source: BestWire

Generali Exec Eyes Inflation as Portugal's Storm Kristin Exceeds Loss Budget
Assicurazioni Generali S.p.A. is wary of inflation linked to rising oil prices but sees opportunities for property/casualty pricing while Portugal's Storm Kristin exceeded the group's first-quarter ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Nacional de Seguros S.A. Compañía de Seguros Generales
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Nacional de Seguros S.A. Compañía de Seguros Generales (Nacional de Seguros) ...
Date:
Source: BestWire

Weekly Calendar: AM Best Participating in Several Events, Including the CAS Seminar on Reinsurance
AM Best will be participating in several notable events, including the Mercado Asegurador Reinsurance Seminar in Buenos Aires, the 2026 CAS Seminar on Reinsurance, the Philippine Insurance Summit ...
Date:
Source: BestWire

AM Best Upgrades Credit Ratings for Members of Healthcare Providers Insurance Group
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Healthcare Providers ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Lumen Re Ltd.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Lumen Re Ltd. (Lumen Re) (Bermuda). The outlook of these Credit ...
Date:
Source: BestWire

Markel, Willis Launch Nuclear Facility Amid Rising Energy Demand
Markel International and broker Willis launched an insurance facility to provide capacity for the nuclear sector amid rising energy demand. The facility will provide capacity for nuclear ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Dubai Insurance Company (PSC)
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Dubai Insurance Company (PSC) (DIN) (United Arab Emirates). The ...
Date:
Source: BestWire

---

Insurance Information Institute News (IIHS & HLDI)

---

Insurance Journal News

One of World’s Largest Energy Storage Plants Launches in South Dakota
This small city in rural northeastern South Dakota has established itself as an energy hub for the entire Great Plains region, and that reputation has received a big boost by landing what will be among the world’s largest energy storage …
Date: Thursday, May 21, 2026

Markets/Coverages: MGA Rokstone Launches Cargo Stock-Only Cover for Inventory Risk
Rokstone, the international specialty re/insurance MGA, announced the launch of a cargo stock-only program, supported by US$25 million of capacity, to support brokers and their clients with smarter, more flexible coverage and competitive premiums. One of just a handful of …
Date: Thursday, May 21, 2026

AM Best Revises Outlooks to Stable for Missouri Valley Mutual
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Missouri Valley Mutual Insurance Company (MVMIC) based in Burke, South Dakota. …
Date: Thursday, May 21, 2026

Texas Summer Camps Face Closure Due to New State Regulations
After almost 20 years of bouncing from campground to campground, Orr Family Ministries finally found its home in 2022 on a 12-acre tree-filled campground located on a hill in Colorado County. Kids played in the swimming pool, worshipped by the …
Date: Thursday, May 21, 2026

Update: Iran in Talks With Oman Over Permanent Hormuz Toll System
Iran is discussing with Oman how to set up some form of a permanent toll system that will formalize its control of maritime traffic through the Strait of Hormuz. “Iran and Oman must mobilize all their resources both to provide …
Date: Thursday, May 21, 2026

Texans Hate Data Centers So Much They Are Asking Jesus for Help
In Granbury, Texas, city council meetings begin with a prayer. But at a session back in January, one local invoked the Almighty in a way that would have been unimaginable just a decade ago. “I want to pray in Jesus’ …
Date: Thursday, May 21, 2026

WTW Sues Former Yacht Team, Howden US Over Defection
Howden US is again being sued by a rival broker over another group of new employees who are alleged to have breached loyalty and post-employment contractual obligations. According to a lawsuit filed May 19 in U.S. District Court for the …
Date: Thursday, May 21, 2026

Trump to Sign Order on AI Oversight as Security Fears Mount Among Supporters
U.S. President Donald Trump is expected to sign an executive order on AI and cybersecurity as soon as Thursday, two sources familiar with the matter told Reuters, as pressure grows from parts of his political base to increase oversight of …
Date: Thursday, May 21, 2026

US P/C Industry Underlying Growth Expected to Slow in 2026
The U.S. property/casualty insurance industry is expected to see underlying growth decrease 3.7% for the first half of 2026 as it deals with economic uncertainty. The industry grew 1.6% in 2025, but a report from the Insurance Information Institute (Triple-I) …
Date: Thursday, May 21, 2026

Maine High Court Upholds Claims Settlement, Case Dismissal Over Insured’s Objection
A court was right to acknowledge an insurance company’s settlement of a claim and dismiss the lawsuit against its insured without the insured’s approval, the Maine Supreme Judicial Court has ruled. The insured, Patrick O’Brien, objected to the settlement and …
Date: Thursday, May 21, 2026

Containment Grows on California Wildfire That Forced Thousands to Evacuate
Containment has continued to increase on the Sandy fire in Simi Valley, which prompted evacuation orders for tens of thousands of people in Ventura County earlier this week. Though fire activity has slowed, the blaze still poses danger, fire officials …
Date: Thursday, May 21, 2026

War Overtakes Civil Unrest as Top Political Violence Exposure for Global Businesses
War has overtaken civil unrest as the political violence exposure that companies fear most, as conflicts in Europe and the Middle East disrupt global trade flows, strain political alliances, embolden adversarial powers and heighten risks to business assets, according to …
Date: Thursday, May 21, 2026

Jury Sides With Insurers, Finding Takeda Liable for $885M in Damages
A U.S. jury found Takeda Pharmaceutical liable for causing about $885 million in damages by delaying a generic version of its constipation drug Amitiza through an anticompetitive scheme. Jurors in federal court in Boston, following a five-week trial, sided with …
Date: Thursday, May 21, 2026

NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case
The Archdiocese of New York (ADNY) has received the go-ahead to depose Chubb Insurance CEO Evan Greenberg in the ongoing legal dispute over liability insurance coverage for clergy sex abuse claims. Chubb sought to block the ADNY from deposing Greenberg, …
Date: Thursday, May 21, 2026

Crypto Crime Escalates With Kidnappings, Cons and Human Coercion
After a year of kidnappings, assaults and armed home invasions targeting cryptocurrency holders, the industry is racing to harden its defenses. Conferences are beefing up security. Private firms serving crypto holders say demand has surged. Exchanges are protecting their executives. …
Date: Thursday, May 21, 2026

Viewpoint: Insurers Cautiously Navigate the Next Steps in AI Adoption
As more and more companies embed AI into select functions, only a portion indicate that they have used AI to change how an overall enterprise runs. It illustrates one of the key takeaways drawn from a recent industry survey by …
Date: Thursday, May 21, 2026

Cheaper Auto Insurance Zip Code: