Insurance Level News and Press

AM Best Rating Acitivity and News

Liberty Specialty Markets Appoints Head of Aviation
Liberty Specialty Markets appointed Ed Louth to succeed Miles Taffs, interim head of aviation, as permanent head of aviation, effective immediately. Louth has overall responsibility for ...
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Source: BestWire

Perils: Australian October Storm Loss Estimate Rises to $1.05 Billion
Perils AG raised its insurance loss estimate to A$1.51 billion ($1.05 billion) from A$1.1 billion for a series of convective storms on Australia's east coast in late October. The storms hit the ...
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Source: BestWire

Best's News: Federal Order Could Provide Impetus Toward Stabilizing the Cannabis Insurance Market
AM Best’s David Blades and Alexander Winant discuss a new Best's Commentary that delves into the move to reclassify marijuana under federal law, which could be a significant step for the insurance ...
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Source: BestWire

CEO: Selective Increases Commercial Auto Casualty Loss Cost, Ups Expected Liability Severity
Selective Insurance Group Inc. increased commercial automobile casualty loss cost by nearly 6% and upped its commercial auto liability expected severity trend to about 10%, President and Chief ...
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Source: BestWire

Hospitals, Insurers Seek Acquisition Plan Modification Following Flat Medicaid Rate Proposal
Kaiser Foundation Hospitals and Risant Health Inc. are asking the Pennsylvania regulator to modify plans to acquire Geisinger Indemnity Insurance Co. and related companies due to flat HealthChoice ...
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Source: BestWire

AM Best Affirms Credit Ratings of Factory Mutual Insurance Company, Its Subsidiaries and Affiliate
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) of Factory Mutual Insurance Company (FMIC) ...
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Source: BestWire

Prosperity Life Hires Former Nationwide Exec as President, Retail Life and Annuity
Prosperity Life Group has hired Rona Guymon as president, retail life and annuity. In this newly created role, Guymon will lead the company in pursuit of its primary strategic goal, to grow its ...
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Source: BestWire

Point32Health Appoints EVP, Corporate Strategy and Strategic Partnerships
Point32Health, the parent company of Harvard Pilgrim Health Care and Tufts Health Plan, has appointed Jeff Weiss as executive vice president, corporate strategy and strategic partnerships, and Marti ...
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Source: BestWire

Alabama Insurance Regulator: Growing Litigation Rates Are Pushing Up Costs
An increase in litigation rates and the average amount of settlements in Alabama is pushing claim amounts beyond the rate of inflation, resulting in higher costs for insurers and higher rates for ...
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Source: BestWire

Aon CFO: ILS, Data Center Construction Among Major 2026 Market Drivers
Aon plc will see steady growth from its insurance-linked securities and reinsurance operations in 2026, the broker's chief financial officer said. The broker is also seeing rising growth in its ...
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Source: BestWire

Arthur J Gallagher CEO: Broker Can Place 'Huge Amounts of Cover' Needed by Data Centers
Arthur J. Gallagher & Co. is coordinating its resources to take advantage of the "huge amounts of cover" needed to build new data centers, Chairman and Chief Executive Officer Pat Gallagher said ...
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Source: BestWire

Delaware High Court: Insurers Must Cover $28 Million Settlement Despite 'Bump-Up' Exclusion
A panel of insurers must cover a $28 million directors and officers coverage claim despite their position a "bump-up" provision excluded it, the Delaware Supreme Court ruled. The insurers include ...
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Source: BestWire

PHL Variable Policyholders Seek Intervention Ahead of Liquidation
A group of universal life policyholders is seeking to intervene in the liquidation of PHL Variable Insurance Co., alleging they stand to lose substantial sums of money despite continuing to pay ...
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Source: BestWire

Hartford CEO: Business Segment Growth Led by Small Accounts
Hartford Insurance Group Inc. expects continuing growth in business insurance this year, with a core growth engine in the small business segment both home and abroad, its chief executive officer ...
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Source: BestWire

FCA: Pure Protection Costs Stable, Penetration Rate Needs Work
A review of the United Kingdom’s pure protection market by the Financial Conduct Authority found competition is promoting stable prices in the sector, but the industry could do more to improve the ...
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Source: BestWire

AM Best Revises Issuer Credit Rating Outlook to Stable for Ocean Harbor Casualty Insurance Company and Its Affiliates
AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Novacore Acquires Texas’ CP Insurance Associates
Novacore, the specialty insurance managing general agent (MGA) formerly the U.S. commercial division of NSM Insurance Group, announced it has entered into a definitive agreement to acquire CP Insurance Associates, a Texas-based insurance services agency specializing in lender-placed insurance, investor …
Date: Monday, February 2, 2026

Cannabis is Here to Stay, Texas Lawmakers Say
Cannabis is here to stay in Texas, lawmakers and industry leaders said last week, as efforts to ban consumable hemp are losing steam. However, figuring out how to regulate the market remains a glaring problem that lawmakers will likely address …
Date: Monday, February 2, 2026

FMIG Acquires Illinois’ Downs Insurance Agency
First Mid Insurance Group (FMIG) announce its acquisition of Downs Insurance Agency in Decatur, Illinois. The transaction closed on January 12, 2026. The acquisition supports FMIG’s continued growth strategy across central Illinois and expands its presence in the Decatur market. …
Date: Monday, February 2, 2026

Zurich Reveals Beazley Stake After UK Insurer Spurns Bid
Zurich Insurance Group AG disclosed a 1.5% stake in Beazley Plc, about two weeks after the UK specialty insurer rejected the industry giant’s latest takeover approach. The Swiss company now holds about 8.87 million shares of the London-listed firm, or …
Date: Monday, February 2, 2026

NHTSA Expands Probe Into About 1.3 Million Ford Pickups Over Transmission Issues
The National Highway Traffic Safety Administration said on Monday it had expanded a safety-related investigation into 1.27 million Ford F-150 pickup trucks following reports of unexpected downshifts with rear-wheel lockup. The investigation covers vehicles from the 2015–2017 model years, NHTSA …
Date: Monday, February 2, 2026

‘Moltbook’ Social Media Site for AI Agents Had Big Security Hole
A buzzy new social network where artificial intelligence-powered bots appear to swap code and gossip about their human owners had a major flaw that exposed private data on thousands of real people, according to research published on Monday by cybersecurity …
Date: Monday, February 2, 2026

Georgia City Warns Against Drinking Tap Water After Atlanta Airport Fuel Spill
A town south of Atlanta advised its residents on Friday not to drink their tap water after a fuel spill at Atlanta’s airport may have contaminated the Flint River. The city of Griffin, whose water system serves more than 20,000 …
Date: Monday, February 2, 2026

Record-Breaking Cold Hits South, Leaving Snow, Accidents and Crop Damage
Record-breaking cold gripped the Southeast this weekend, bringing heavy snow to parts of Tennessee and North Carolina, canceling flights across the region and threatening citrus crops in Florida. News outlets reported that at least 44 daily temperature records may be …
Date: Monday, February 2, 2026

AIG, Chubb Can’t Use ‘Bump-Up’ Provision in D&O Policy to Avoid Coverage
A state high court has ruled subsidiaries of American International Group (AIG) and Chubb cannot use the so-called “bump-up” exclusion in denying coverage for a settlement in a securities lawsuit. Late last month the Delaware Supreme Court affirmed a ruling …
Date: Monday, February 2, 2026

Markets/Coverages: Willis Returns to Light and Recreational General Aviation Market
Willis, a WTW business, has announced its return to the light and recreational general aviation market after a 30-year absence, marking a significant milestone in the company’s ongoing commitment to providing industry-leading insurance solutions. The move has been enabled by …
Date: Monday, February 2, 2026

UN Nuclear Watchdog Discusses Risks to Ukraine’s Nuclear Safety After Russian Strikes
The U.N. atomic watchdog’s board held a special session Friday to discuss risks to nuclear safety in Ukraine as concerns mount that relentless Russian attacks on its energy infrastructure pose an increasing danger of a nuclear accident. The urgent meeting …
Date: Monday, February 2, 2026

Dutch Regulator to Probe Roblox Over Risks to Minors
The Netherlands’ consumer protection regulator ACM has launched an investigation into U.S. gaming platform Roblox over potential risks to underage users in the European Union, it said on Friday [Jan. 30]. The regulator said it will assess whether Roblox is …
Date: Monday, February 2, 2026

India’s GIFT City Attracts Lloyd’s and Other Global Reinsurers, Sources Say
Some of the world’s biggest reinsurers, including Lloyd’s of London, are seeking Indian regulatory approval to operate in a low-tax city set up in the prime minister’s home state to try to rival other international financial hubs, two sources said. …
Date: Monday, February 2, 2026

Trafigura Wins $600 Million Nickel Fraud Lawsuit Against Businessman Gupta
Trafigura won its London lawsuit against Indian businessman Prateek Gupta over fake nickel cargoes on Friday, with London’s High Court ruling in favor of the commodities trader. Geneva-based Trafigura alleged Gupta was the mastermind of a fraudulent “Ponzi scheme” in …
Date: Monday, February 2, 2026

Bitcoin’s Break Below $80,000 Signals New Crisis of Confidence
Price, relevance, conviction — Bitcoin is bleeding all three. The world’s largest cryptocurrency slipped below $76,000 in thin weekend trading, dropping about 40% from its 2025 peak and revisiting levels last seen in the aftermath of the “Liberation Day” tariff …
Date: Monday, February 2, 2026

Federal Trade Commission Warns Law Firms About DEI Hiring
The U.S. Federal Trade Commission said on Friday it had written to 42 law firms warning them about diversity, equity, and inclusion hiring, which it described as potentially unfair and anticompetitive. President Donald Trump’s administration has eliminated DEI-related programs in …
Date: Monday, February 2, 2026

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