Insurance Level News and Press

AM Best Rating Acitivity and News

Best's News: AM Best Says Risk-Based Capital Changes Credit Positive for HK Nonlife (Re)insurers
A new Best's Commentary discussed by AM Best Director-Analytics James Chan finds the proposed Insurance Authority amendments for Hong Kong nonlife (re)insurers are credit positive, according to this ...
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Source: BestWire

Weekly Podcast Highlights - April 3
The Reinsurance Podcast's examination of war coverage and the Future of Insurance's interview with the head of parametric natural catastrophe coverage in the Americas at Swiss Re are among the ...
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Source: BestWire

AM Best Revises Issuer Credit Rating Outlook to Negative for The Dentists Insurance Company
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR ...
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Source: BestWire

RLI Appoints Successor to Retiring Chief Claims Officer
RLI Corp. has promoted Cory Figiel to succeed Bob Handzel as chief claims officer, and Charles Spiekerman has been promoted to succeed Figiel as vice president, claims. Handzel retired at the end ...
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Source: BestWire

Oakland Catholic Diocese Cuts $44 Million Insurance Sexual Abuse Settlement Plan
The Roman Catholic Bishop of Oakland is removing a $44 million insurance settlement from a settlement plan over objections from a committee representing sexual abuse victims. Counsel for the ...
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Source: BestWire

Santam Syndicate 1918 Hires Liberty Specialty Markets Exec as Head of Property
Santam Syndicate 1918, part of Santam Group, has appointed Nigel Tatlock as head of property. Tatlock will lead the development of a dynamic and market-leading property underwriting team, to ...
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Source: BestWire

CMS Giving Elevance Additional Time to Correct Data Reporting Issues
The Centers for Medicare and Medicaid Services are giving Elevance Health Inc. more time to correct alleged data reporting issues in its Medicare Advantage programs. In March, the CMS threatened ...
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Source: BestWire

Treasury, Insurance Regulators Meeting on Private Credit Market Developments
The United States Department of the Treasury said it is meeting with domestic and international insurance regulators to review recent developments in private credit markets. The meetings will be ...
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Source: BestWire

Guy Carpenter: Middle East War Risk Exposure May Reach $80 Billion
Potential exposure to the Middle East conflict could reach $80 billion or more for underwriters as rates continue to soften in Asia-Pacific markets at April 1 renewals while India attracts a growing ...
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Source: BestWire

PHL Rehabilitator Readying Liquidation Plan as Buyer Search Continues
Planning for the transition to liquidation of PHL Variable Insurance Co. is underway, according to the rehabilitator, which is still seeking a buyer as part of the plan. In January, the ...
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Source: BestWire

Hub Exec: High-Net-Worth Clients Redefine Insurance as Digital Threats Drive Innovation
Katherine Frattarola, head, Hub Private Client, discusses how high-net-worth clients are reshaping insurance, driving innovative coverage and spurring insurers to prioritize preparedness and ...
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Source: BestWire

Wild Horse Fire Brigade Founder: Wildfire Toxins Drive Health, Property Risks for Insurers
Wild Horse Fire Brigade Founder and Executive Director William Simpson, an ethologist, discusses how super-hot wildfires create novel toxins, driving health and property risks, and why insurers must ...
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Source: BestWire

20Twenty Adviser: Hedge Funds Now Cherry-Pick ILS Senior Talent
With the catastrophe bond space growing, the sidecar market becoming more active and new demand for talent from hedge funds, insurance-linked securities companies are challenged to retain their ...
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Source: BestWire

Illinois Mutual Life Swings to Net Loss as Policy Benefits Outpace Revenue Growth in 2025
Illinois Mutual Life Insurance Co. swung to a $391,000 annual net loss in 2025 from an $8.5 million net income a year earlier as policy benefits outpaced revenue growth. Policy benefits increased ...
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Source: BestWire

Bridgehaven Extends Arrow MGA Capacity Partnership Into Europe
Bridgehaven Europe Specialty DAC entered into its first European managing general agency capacity agreement, with Arrow Risk Management GMBH. Following Bridgehaven's acquisition of Dublin-based ...
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Source: BestWire

Markel Appoints Former AIG Exec as Head of Ocean Cargo US
Markel, the insurance operations within Markel Group Inc., appointed James Shankland as head of ocean cargo, United States. Shankland will lead the growth of Markel’s U.S. cargo portfolio. He ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

US, Iran Study Ceasefire Plan as Deadline Nears on Trump’s ‘Hell’ Threat
The United States and Iran on Monday were weighing the framework of a plan to end their five?week-old conflict, even as Tehran pushed back against pressure to swiftly reopen the Strait of Hormuz on the eve of a new ultimatum …
Date: Monday, April 6, 2026

Georgia Lawmakers to Let Property Owners File Claims Over Homeless, Immigrants
Georgia lawmakers passed a bill early Friday that would allow property owners to file claims against local governments if the individual believes policies that ban people from sleeping outside and require law enforcement to cooperate with federal immigration authorities were …
Date: Monday, April 6, 2026

AM Best Upgrades Credit Ratings of Federated Mutual
AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Federated Mutual Insurance Company and its pooled subsidiaries, Federated Service Insurance Company, …
Date: Monday, April 6, 2026

Old Republic Forms New Specialized Property Insurer
Old Republic International Corporation is forming a new operating company, Old Republic Property Inc., to underwrite specialized property insurance products through a national retail broker distribution network, the company announced on Monday. The company will be led by Patrick Hagerty …
Date: Monday, April 6, 2026

Vehicle Hits Revelers During Lao New Year Celebration in Rural Louisiana
Several people were injured when a vehicle struck revelers at a parade celebrating the Lao New Year on Saturday in rural Louisiana, authorities said. The driver was quickly arrested and charged with impaired driving, police said. Video shared on social …
Date: Monday, April 6, 2026

California Wildfire Almost Fully Contained as Evacuation Orders Lifted
A Southern California wildfire that prompted evacuation orders is now nearly fully contained, according to fire officials. The Springs Fire in Riverside County grew to roughly 4,176 acres, but is now 95% contained. The fire had been just 25% contained …
Date: Monday, April 6, 2026

Oklahoma Junior College Sued Over Death of Basketball Player
Lawyers for the family of an Oklahoma junior college basketball player who died after suffering a head injury during a game said Thursday the student had been struck by another player’s elbow and accused the team of not providing proper …
Date: Monday, April 6, 2026

EPA, HHS to Monitor Drinking Water for Microplastics and Pharmaceuticals
The U.S. Environmental Protection Agency and Department of Health and Human Services announced that they will monitor the impact of microplastics and pharmaceuticals on drinking water, the first step toward assessing their health risks and shaping new policies. The joint …
Date: Monday, April 6, 2026

Old Republic Opens New Company for Specialty Property
Old Republic International Corporation said it is forming a new operating company, Old Republic Property, Inc., to underwrite specialized property insurance products through a national retail broker distribution network. The company will be led by Patrick Hagerty as president. Hagerty …
Date: Monday, April 6, 2026

US Doubles Hormuz Reinsurance Guarantees to $40 Billion With New Partners
The US is doubling, to $40 billion, its commitment to provide reinsurance guarantees to ships willing to travel through the Strait of Hormuz with the addition of new insurance partners, including AIG and Berkshire Hathaway. The move announced Friday is …
Date: Monday, April 6, 2026

March Sadness: 20,000 New Englanders Lose Out on $50 Million in Refunds
The University of South Carolina women’s basketball team saved the insurer for a New England furniture company millions of dollars by beating the University of Connecticut team 62-48 last Friday night. At the same time, 20,000 New Englanders missed a …
Date: Monday, April 6, 2026

Private Credit Sector Stresses Could Be Catastrophic, but Not Just Yet
Some investors think private credit is a tempest in a teapot. Others think it is about to spark a new financial crisis. Depending on the time horizon, both sets of views about the esoteric sector may be right. Signs of …
Date: Monday, April 6, 2026

Trump Risks Confidence in US Role as Guardian of Global Shipping
Of all the things Donald Trump has done to disrupt global commerce, from levying punitive tariffs to tearing up trade deals, few would be as consequential as withdrawing and leaving the rest of the world to secure the Persian Gulf. …
Date: Monday, April 6, 2026

CFPB Prepares Final Lending Rule to Narrow Civil Rights Protections
The U.S. federal watchdog agency for consumer finance expects to finalize new regulations proposed in November that would narrow key civil-rights-era antidiscrimination requirements for lenders, according to a government website. The new policy from the Consumer Financial Protection Bureau would …
Date: Monday, April 6, 2026

FBI Calls Breach of Sensitive Agency Networks a ‘Major Incident’
The Federal Bureau of Investigation has concluded that last month’s breach of the networks it uses to manage wiretaps and other surveillance work qualifies as a “major incident,” signaling the severity of an intrusion that had already prompted the agency …
Date: Monday, April 6, 2026

People Moves: Liberty Mutual Restructures Leadership of GRS, LMI
Liberty Mutual Insurance late last week announced a new leadership structure across the company’s Global Risk Solutions (GRS) and Liberty Mutual Investments (LMI) businesses. Vlad Barbalat has been appointed president, Global Risk & Capital Solutions, and will continue to serve …
Date: Monday, April 6, 2026

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