Insurance Level News and Press

AM Best Rating Acitivity and News

CMS Threatens Suspension of Elevance’s Medicare Part D Program Over Data Reporting Issues
The Centers for Medicare and Medicaid Services intends to suspend enrollment in Elevance Health Inc.’s Medicare Advantage Part D over persistent noncompliance with risk-adjustment data reporting ...
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Source: BestWire

Ryan Specialty's Trident Marine Managers Appoints New COO
Trident Marine Managers, a Ryan Specialty managing general underwriter, appointed Karolina Krol as chief operating officer, effective immediately. Trident offers specialty marine and offshore ...
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Source: BestWire

Hawaii Legislation Would Expand the Use of Captive Insurers in Catastrophic Risks
A measure allowing captive insurers to underwrite and assume catastrophic risks in Hawaii was approved by the state's Senate over opposition from its top regulator. The measure, SB 2950 S.D. 1, ...
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Source: BestWire

Blue Cross Life of Canada Agrees to Acquire StanCorp Canadian Voluntary Benefits Business
Blue Cross Life Insurance Co. of Canada said it has agreed to acquire the Canadian voluntary benefits business of StanCorp Financial Group Inc., which is marketed under the Allstate brand. The ...
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Source: BestWire

Federal Lenders Lift Replacement-Cost Coverage Rules
Fannie Mae and Freddie Mac will no longer require full replacement-cost coverage for federally back mortgages, a move the Federal Housing Finance Agency said will accelerate home sales and lower ...
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Source: BestWire

New York Life Sees Sales and Surplus Growth in 2025, Net Income Down
New York Life Insurance Co. closed 2025 with sales up across the board and $892 billion in assets under management, according to a year-end financial report. New York Life's net income for 2025 ...
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Source: BestWire

Allstate Estimates $140 Million in Pretax Catastrophe Losses in February
Allstate Corp. said it incurred an estimated $140 million in pretax catastrophe losses in February. That raises the pretax catastrophe-loss total for the first two months of the year to $315 ...
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Source: BestWire

With Demand Rising, Arch Launches Lloyd's Intellectual Property Consortium
Arch Insurance International said it launched an intellectual property consortium supported by Lloyd's syndicates to meet rising client demand for increased capacity and more comprehensive IP ...
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Source: BestWire

Lloyd's CEO: Re-platforming Remains a Priority as Profit Rises in Volatile Market
Lloyd's reported a 10.1% rise in 2025 pretax profit on benign catastrophe loss experience and good investment returns as its chief executive officer said it focuses on its underwriting discipline and ...
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Source: BestWire

AM Best Upgrades Long-Term Issuer Credit Rating of Hanoi Reinsurance Joint Stock Corporation
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Vietnam National ...
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Source: BestWire

AM Best Affirms Credit Ratings of PVI Insurance Corporation
AM Best has affirmed the Financial Strength Rating of A- (Excellent), the Long-Term Issuer Credit Rating of “a-” (Excellent) and the Vietnam National Scale Rating of aaa.VN (Exceptional) of PVI ...
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Source: BestWire

AM Best Affirms Credit Ratings of Pacific International Insurance Pty Limited
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Pacific International Insurance Pty Limited (Pacific) (Australia). The ...
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Source: BestWire

AM Best Affirms Credit Ratings of China Taiping Insurance (Macau) Company Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of China Taiping Insurance (Macau) Company Limited (CTIM) (Macau). The ...
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Source: BestWire

Weekly Calendar: AM Best to Attend NAIC Spring Meeting & PLRB Claims Conference
AM Best will be among the participants at the 2026 PLRB Claims Conference and the NAIC Spring Meeting as the insurance industry gathers for a busy stretch of events spanning late March through early ...
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Source: BestWire

Benchmarking EMEA Ratings – Improving Credit Quality, but Common Themes Highlighted as Weaknesses
Ben Diaz-Clegg, associate director, analytics, AM Best, discusses a Best's Special Report that finds the stability of macroeconomic conditions through 2024 and 2025, in addition to generally robust ...
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Source: BestWire

Aon Appoints North America CEO
Aon named Anne Corona to succeed Lori Goltermann as North America chief executive officer, effective immediately. Goltermann will now serve as vice chair of Aon, effective March 31. With this ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Hiscox Manager Faces Greek Perjury Charge Over Extradition Case
A manager at London-listed insurer Hiscox faces a criminal charge of providing false testimony during an attempted extradition of a former colleague from Greece to Bermuda, court proceedings and filings seen by Reuters show. An Athens prosecutor alleges the manager, …
Date: Friday, March 20, 2026

Israel, Iran Launch More Attacks as Crisis Deepens
Israel and Iran launched fresh attacks on each other on Friday, a day after Tehran struck an Israeli oil refinery and after U.S. President Donald Trump warned Israel against further attacks on an Iranian offshore gas field shared with Qatar. …
Date: Friday, March 20, 2026

Researchers Uncover iPhone Spyware Capable of Penetrating Millions of Devices
A powerful software exploit capable of penetrating and stealing information from potentially hundreds of millions of Apple iPhones was planted on dozens of websites in Ukraine in recent weeks, researchers said on Wednesday. The discovery marks the second time this …
Date: Friday, March 20, 2026

Hippo, Progressive Embark on Strategic Distribution Relationship
Insurtech Hippo announced that its homeowners insurance products have been added to Progressive’s HomeQuote Explorer, available online and through Progressive in-house agents in eight states. Hippo said the distribution relationship began earlier this year with Progressive Advantage Agency, Progressive’s in-house …
Date: Friday, March 20, 2026

US Allies See No Way of Opening Hormuz Strait During War
Europe’s biggest naval powers don’t see away of reopening the Strait of Hormuz to commercial shipping before the Iran war subsides. The continent continues to resist Donald Trump’s calls to deploy warships to the strait over fears they will be …
Date: Friday, March 20, 2026

Publix Not Liable in ‘Unforeseeable’ 2021 Supermarket Shooting, Florida Court Says
Even in an age of frequent mass shootings in public places, a shooting can be unforeseeable and a supermarket has no duty to protect customers from random acts of violence, a Florida appeals court decided in a major win for …
Date: Friday, March 20, 2026

People Moves: CopperPoint Appoints Woods SVP, Head of Product
CopperPoint Insurance Companies named Mark Woods senior vice president, head of product. Woods leads the integration of underwriting product and systems, guides geographic and product expansion strategies. Woods has more than 18 years of insurance experience across product, underwriting, risk …
Date: Friday, March 20, 2026

New Jersey High Court Finds Public Schools Can Be Vicariously Liable for Sexual Abuse
A New Jersey public school district may be held vicariously liable for sexual abuse by a teacher even if the abuse took place outside of the scope of the teacher’s employment and off school property. The New Jersey Supreme Court …
Date: Friday, March 20, 2026

NYC Eyes Ending Legal Support For ex-Mayor Adams in Sexual Assault Lawsuit
New York City Mayor Zohran Mamdani’s administration wants to stop representing Eric Adams in a lawsuit that alleges the former mayor sexually assaulted a woman more than three decades ago, according to a court filing Tuesday. The move comes just …
Date: Friday, March 20, 2026

About to Take Off?: Legal Fights Emerge Over Toxic Fumes on Flights
When passengers step onto an airplane, they’re accustomed to turbulence, seat kicking and lengthy tarmac delays. Those are the predictable annoyances of air travel. But a far more serious risk to the safety of flyers has received heightened attention in …
Date: Friday, March 20, 2026

2,400 Kaiser Mental Health Professionals Strike in California Over AI Concerns
About 2,400 Kaiser Permanente mental health professionals were striking Wednesday in Northern California over concerns that the health care giant is replacing therapists with artificial intelligence. Kaiser says the union claim is false and AI will not replace human assessment …
Date: Thursday, March 19, 2026

Penn. Seeks $2.6M Penalties From Utility Over Deadly Explosion at Chocolate Factory
Pennsylvania is seeking $2.65 million in penalties from a utility company over the March 2023 natural gas explosion at a chocolate factory that killed seven workers and injured 10 others. The Pennsylvania Public Utility Commission’s (PUC) has filed a formal …
Date: Thursday, March 19, 2026

Jewelers Mutual Launches Digital Jewelry Insurance Program Powered by Sure
Sure, an insurance technology platform, announced the launch of a new digital jewelry insurance program underwritten by JM Specialty Insurance Company, a member insurer of the Jewelers Mutual Group. Developed in collaboration with Jewelers Mutual and built to meet its …
Date: Thursday, March 19, 2026

Wisconsin Beauty Products Manufacturer Cited for Safety Violations
The U.S. Department of Labor has cited a Wisconsin beauty and personal care products manufacturer after a 55-gallon fiber drum containing nitrocellulose exploded and started a secondary fire involving flammable liquids. Investigators with the department’s Occupational Safety and Health Administration …
Date: Thursday, March 19, 2026

Prysmian Eyes New Texas Copper Mill Amid Data Center Boom
Prysmian SpA, the world’s largest cable maker, is considering building a new mill in Texas while pursuing U.S. acquisitions, as surging demand tied to data centers and electrification drives growth in its largest market. The Italian group may pull the …
Date: Thursday, March 19, 2026

Florida OIR Summit Includes Cal Commissioner Lara, Sessions on AI, Compliance, Data
The Florida Office of Insurance Regulation’s agenda for its April 15-16 Insurance Summit includes sessions on financial reporting by insurers, changes in data calls, and compliance with orders, along with insights from insurance executives on the use of artificial intelligence. …
Date: Thursday, March 19, 2026

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