Insurance Level News and Press

AM Best Rating Acitivity and News

Chubb to Lead $20 Billion US Gulf Marine Reinsurance Program
The U.S. International Development Finance Corp. said it chose Chubb Ltd. as lead partner for its $20 billion maritime reinsurance plan designed to resume commercial shipping in the Persian ...
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Source: BestWire

Chubb Names Successor to Global Operations, Technology and Digital Transformation Lead
Chubb Ltd. appointed Seshadri Iyer to succeed Julie Dillman as executive vice president, Chubb Group, operations, technology and digital transformation, effective April 6. Dillman is retiring on ...
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Source: BestWire

Nippon Life Sues OpenAI for Illegally Practicing Law in Dispute Over Settled Claim in Illinois
Nippon Life Insurance Company of America filed a federal lawsuit against artificial intelligence giant OpenAI, arguing its flagship ChatGPT practiced law without a license in prompting an Illinois ...
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Source: BestWire

AM Best Upgrades Credit Ratings for Members of CapSpecialty Insurance Group
AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa-” (Superior) from “a+” (Excellent) of Capitol Indemnity ...
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Source: BestWire

Federal Court Rule in Favor of IRS in Microcaptive Case
A federal judge has ruled in favor of the Internal Revenue Service in a case involving microcaptive insurance and issues of taxation. U.S. District Judge Travis McDonough, sitting in the Eastern ...
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Source: BestWire

Northern Re CUO: Reinsurance Key to Casualty ILS Growth
Reinsurance is bridging complex casualty risks to capital markets, boosting investor confidence and supporting insurance-linked securities growth, said Vincent Pomo, chief underwriting officer, ...
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Source: BestWire

Aetna Reaches $117.7 Million False Claims Act Settlement
Aetna Inc. has agreed to pay $117.7 million to settle allegations it violated the False Claims Act by submitting or failing to withdraw inaccurate and untruthful diagnosis codes for its Medicare ...
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Source: BestWire

Bank of England Fines Aviva Unit $14.2 Million for Solvency Error
A U.K. regulator fined an Aviva plc unit £10.6 million ($14.2 million) for miscalculations that overstated its solvency, in the first such case that allowed the company a 50% reduction in its fine ...
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Source: BestWire

Marsh Risk Appoints President and CEO
Marsh appointed Nick Studer to succeed Martin South as president and chief executive officer of Marsh Risk. South will take on an enterprise-wide role as chief client officer of Marsh and work ...
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Source: BestWire

DOL Moves to Vacate Retirement Fiduciary Rule Opposed By Insurers
The United States Department of Labor signaled support for vacating a Biden Administration Retirement Security Rule, which insurers say would increase fiduciary obligations placed on agents and ...
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Source: BestWire

Markel Appoints Head of Portfolio Analytics, US and Bermuda
Markel, the insurance operations within Markel Group Inc., is appointing Kristen Dardia as head of portfolio analytics, U.S. and Bermuda. In her new role, Dardia will lead Markel's advanced ...
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Source: BestWire

AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V.
AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior), the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” (Superior) and the Mexico National Scale Rating of “aaa.MX” ...
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Source: BestWire

State Farm Incurs Hundreds of Claims After Tornadoes Hit City, Two Villages in Michigan
State Farm has taken in hundreds of claims after a large thunderstorm spawned four tornadoes in Lower Michigan, including destructive twisters that struck Union City, Three Rivers and ...
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Source: BestWire

Federal Court Allows Sweeping Discovery on UnitedHealth’s AI Use
A federal judge granted plaintiffs wide-ranging discovery in a class-action lawsuit that alleges UnitedHealth Group Inc. used artificial intelligence, without input from humans, to improperly deny ...
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Source: BestWire

Axa XL Appoints Chief Technology and Artificial Intelligence Officer
Axa XL appointed Leyla Delic as chief technology and artificial intelligence officer. Delic has more than 20 years of experience in technology. Over the course of her career, she has held ...
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Source: BestWire

Florida Circuit Judge: Citizens' Arbitration Requirements Do Not Violate Due Process
A Florida circuit court judge ruled Citizens Property Insurance Corp. policies do not violate due process rights by requiring arbitration through the Division of Administrative Hearings to settle ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Relation Acquires Rummel Associates
Relation Insurance Services acquired the assets of Rummel Associates, Inc. The transaction went into effect on January 31, 2025; terms of the transaction were not disclosed. Specializing in both commercial and personal insurance, Rummel is based in Chicago, Illinois. Jared …
Date: Wednesday, March 11, 2026

NTSB to Hold Hearing on Two Fatal Ford Crashes Involving Driver Assistance
The National Transportation Safety Board will hold a March 31 hearing to determine the probable cause of two fatal crashes involving Ford Motor’s hands-free advanced driver assistance system BlueCruise. Both crashes in 2024 involved 2022 model year Ford Mustang Mach-Es …
Date: Wednesday, March 11, 2026

Thai Cargo Ship Hit in Strait of Hormuz; Three Crew Missing
A Thai-flagged cargo vessel was struck in the Strait of Hormuz on Wednesday shortly after departing from the United Arab Emirates, as regional tensions continue to disrupt one of the world’s most critical shipping lanes. Three people are missing. The …
Date: Wednesday, March 11, 2026

Record March Heat to Scorch Los Angeles, US Southwest
An unusually early heat wave is set to grip Los Angeles and much of the Southwest, putting California’s already fragile snowpack, and therefore its water supplies, at risk. Temperatures in downtown Los Angeles on Friday are forecast to reach 98F …
Date: Wednesday, March 11, 2026

UK Watchdog Fines Aviva Unit $14 Million Over Solvency Miscalculation
Britain’s banking stability watchdog has fined U K Insurance Ltd., now part of Aviva, 10.6 million pounds ($14.2 million) over a miscalculation in its Solvency II balance sheet for 2023 and 2024. The Prudential Regulation Authority (PRA), part of the …
Date: Wednesday, March 11, 2026

UBS Urges US Judge to Curb Liability for Nazi-Linked Crimes
UBS urged a U.S. judge on Tuesday to shield it from new Holocaust-related litigation arising from an investigation of the former Credit Suisse’s activities during World War II. A lawyer for UBS asked U.S. District Judge Edward Korman in Brooklyn …
Date: Wednesday, March 11, 2026

Coast Guard and First Responders Battle Fire on Scrap Metal Barge in Delaware Bay
Multiple government agencies and the U.S. Coast Guard have been responding to a barge fire in the Delaware Bay since 8:20 a..m. yesterday. The barge is carrying salvage metal and has been moved to shallow water where it can be …
Date: Wednesday, March 11, 2026

CRC Group CEO on Casualty: ‘It’s More About the Coverage’ Than Price
Data, said CRC Group CEO Dave Obenauer, is a more critical part of insurance than ever, with artificial intelligence leading to greater client coverage outcomes. Speaking recently at Zywave’s Casualty Insights Conference in New York, Obenauer said the casualty market …
Date: Wednesday, March 11, 2026

Fund Trying to Turn New Mexico Desert into an Advanced Tech Hub
If all goes according to plan for the nation’s second-largest sovereign wealth fund, a barren stretch of desert in Albuquerque’s plains will soon become a research center where scientists replicate nuclear fusion — the process that powers the sun and …
Date: Wednesday, March 11, 2026

Alabama Dentist Sentenced After Blowing Up His Office to Gain Insurance Payout
Almost one year ago, an Alabama dentist was captured on surveillance video setting fire to his dental office in Evergreen, triggering an explosion that destroyed the building and slightly injured the dentist. Last week, Dr. Douglas P. O’Connor was sentenced …
Date: Wednesday, March 11, 2026

Virginia Boater Files Class Action Against DC Utility for Potomac River Sewage Spill
A Virginia boater is suing a Washington water utility for negligence in the collapse of a pipe that leaked millions of gallons of raw sewage into the Potomac River. The class action lawsuit filed Friday in U.S. District Court in …
Date: Wednesday, March 11, 2026

Recreational Marijuana Effort Fizzles After Florida High Court Declines to Review
A move to allow Florida voters to decide if recreational marijuana should be legal in the state won’t be appearing on ballots anytime soon. The Florida Supreme Court this week declined to hear a petition from Smart & Safe Florida. …
Date: Wednesday, March 11, 2026

Florida Bills Would Open Door to More Housing in the Everglades, Brownfields
Florida lawmakers who say they want to encourage construction of more affordable housing are trying to strip away powers Miami has used for decades to keep developments, strip malls and warehouses out of the Everglades. A land-use bill, HB 399, …
Date: Wednesday, March 11, 2026

Three Ships Struck in Day of Heavy Middle East Attacks
Three vessels were hit by suspected projectiles in the Strait of Hormuz and Persian Gulf on Wednesday, one of the heaviest days of attacks since the Iran war began. A cargo vessel called Mayuree Naree was attacked in the Strait …
Date: Wednesday, March 11, 2026

Sony Fighting $2.7 Billion UK Lawsuit Over PlayStation Store Prices
Sony is fighting a London lawsuit worth almost 2 billion pounds ($2.7 billion) that alleges the PlayStation maker’s “monopoly position” inflated prices for digital games, in the latest mass consumer case to go to trial in Britain. The Japanese conglomerate …
Date: Wednesday, March 11, 2026

Dubai Flights Disrupted After Drones Injure Four Near Main Airport
Dubai International Airport briefly halted operations on Wednesday after drones smashed down at the facility, resulting in four injuries at the world’s busiest international hub. Dubai’s media office said that two drones fell in the vicinity of the airport, resulting …
Date: Wednesday, March 11, 2026

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