Insurance Level News and Press

AM Best Rating Acitivity and News

Best’s Special Report: US Life/Health Insurance Industry Sees Impairments Halved in 2024
Five insurance company impairments were identified in the U.S. life/health industry for 2024, following 10 in 2023, according to a new AM Best report. The Best’s Special Report, titled, “2024 US ...
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Source: BestWire

Former FM Global President, CEO, Chairman Tom Lawson Dies at 69
Former FM Global Chairman, President and Chief Executive Thomas "Tom" Lawson died on March 7, one year after retiring as chairman of the company, where he had a 43-year career. The impact the ...
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Source: BestWire

Federal Court Allowing Allstate Auto Data Collection Class Action to Proceed
A federal court in Illinois is allowing a class-action lawsuit to proceed alleging the Allstate Corp. and its data analytics subsidiary Arity LLC improperly collected, used and sold driver ...
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Source: BestWire

Connecticut Bill Creates LTC Tax Deductions, Rate-Hearing Trigger
Legislation was introduced in Connecticut that would allow policyholders to deduct long-term care insurance premiums from income taxes and require the rate hearings for certain requests. House ...
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Source: BestWire

Insurers Successfully Appeal $345 Million Georgia Sexual Assault Award
A group of insurers do not have to cover a $345 million sexual assault verdict stemming from the abuse of 20 students at the hands of private school teacher. The abuse occurred from 1974 to 1994 ...
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Source: BestWire

NI Holdings Swings to Fourth-Quarter Net Loss, Hit by Nonstandard Auto, Auto Liability Severity
NI Holdings Inc. swung to a $3.2 million attributable net loss in the fourth quarter from a $9.8 million attributable net income a year earlier, hurt by its nonstandard automobile insurance ...
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Source: BestWire

Mutual of Omaha Policyholders Approve Plan to Reorganize as a Mutual Holding Company
Mutual of Omaha Insurance Co. policyholders have backed a plan to reorganize as a mutual holding company, and state regulators now must sign off on the vote. Policyholders voted "overwhelmingly" ...
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Source: BestWire

Greenlight Re CEO: Reinsurer Has War Risk Exposure in Middle East
Greenlight Re Ltd. has commercial lines exposures in the Middle East as it watches developments related to the U.S and Israeli attacks on Iran and that country's retaliatory strikes in the region, ...
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Source: BestWire

AM Best Revises Outlooks to Stable for Farmers Mutual Fire Insurance Company of Marble, Pennsylvania
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Farmers Mutual Fire ...
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Source: BestWire

Allstate Affiliates Approved for Lower Personal Auto Rates in Louisiana
The Louisiana Department of Insurance said it approved requests to lower personal automobile insurance rates from two units of Allstate Corp. Imperial Fire and Casualty Insurance Co., which ...
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Source: BestWire

Beazley to Acquire US Renewable Energy MGA kWh Analytics
Specialty insurer Beazley plc said it has reached an agreement to acquire kWh Analytics, a managing general agent in the United States focused on renewable energy. Beazley said in a statement it ...
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Source: BestWire

US $20 Billion Reinsurance Plan Initially Targets Gulf Hull, Cargo Risks
The U.S. International Development Finance Corp. agreed on a plan approved by President Trump to deploy up to $20 billion for maritime reinsurance, including war risk, in the Persian Gulf region. ...
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Source: BestWire

AM Best Downgrades and Withdraws Credit Ratings of Trust Insurance JSC
AM Best has downgraded the Financial Strength Rating to C- (Weak) from C+ (Marginal) and the Long-Term Issuer Credit Rating to “ccc-” (Weak) from “b-” (Marginal) of Trust Insurance JSC (Trust ...
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Source: BestWire

Best’s Special Report: US Property/Casualty Impairments in 2024 Fell Sharply
One U.S. property/casualty company became impaired in 2024, compared with 13 in the previous year, according to an AM Best report. The report, titled, “2024 US Property/Casualty Impairments ...
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Source: BestWire

AM Best Comments on Credit Ratings of Guild Insurance Limited
AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Guild Insurance Limited (GIL) (Australia) remain unchanged ...
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Source: BestWire

Multiple Line Insurer Plateau Plans Expansion After Rebranding as Lumos
Multiple line insurer the Plateau Group has rebranded as Lumos Insurance after strengthening its systems, operations and governance. "Now we're ready to grow responsibly in both our core markets ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

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

Update: Three Ships Hit by Projectiles in Middle East, UK Navy Says
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

Update: 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

Texas Hemp Businesses Fear an Uptick in Police Raids
Dallas attorney Chelsie Spencer specializes in making sure Texas businesses that sell hemp-derived THC products know how to stay in compliance with state and federal rules and regulations, an area that can be very confusing. She offers them a monthly …
Date: Wednesday, March 11, 2026

Bayer Takes Its Multi-Front Battle on Pesticide Liability to Kansas
Kansas lawmakers were set to take up a bill on Tuesday backed by Bayer BAYGn.DE that would prevent people from suing pesticide manufacturers for not warning them that their products could cause cancer or other illnesses, as the German company …
Date: Wednesday, March 11, 2026

Unconditional Payments Interrupt Prescription for Louisiana First-Party Claims
Unconditional payments – payments made without condition or reservation of rights, such as settlement offers – restart the clock on the standard two-year prescriptive period for Louisiana first-party insurance claims, the state high court ruled last week. The prescriptive period …
Date: Wednesday, March 11, 2026

Northern Louisiana Rattled by Series of Earthquakes
Louisiana already has its hands full catastrophe exposures in the form of hurricanes, floods and severe storms. Could earthquakes be next on the list? Northern Louisiana has been rattled by a series of earthquakes in the past week. First was …
Date: Wednesday, March 11, 2026

DOJ Urges Companies to Report Criminal Misconduct in New Nationwide Policy
The U.S. Justice Department is rolling out a policy across divisions to encourage companies to report criminal misconduct in exchange for reduced penalties and other benefits, according to a DOJ memo shared with Reuters on Tuesday. The policy, similar to …
Date: Wednesday, March 11, 2026

International Women’s Day 2026: Why ‘Give to Gain’ Matters for Insurance
Every March, our industry gets a moment to pause and recognize the women shaping insurance—not just through leadership and advocacy, but through the economic power they generate every day. Women are driving business creation, influencing commercial buying decisions, and shaping …
Date: Wednesday, March 11, 2026

NHTSA Seeks Comment on Zoox Petition for Robotaxis Without Steering Wheels
The National Highway Traffic Safety Administration said Tuesday it is seeking public comments on Amazon.com’sself-driving unit Zoox to deploy up to 2,500 purpose-built, steering-wheel-free robotaxis. Zoox filed a petition in August seeking approval from the auto safety agency saying it …
Date: Wednesday, March 11, 2026

The California DMV Renewed His License After His Crash Killed A Child – Then Hid His Records
Placer County prosecutors wanted any information the California Department of Motor Vehicles had on Kostas Linardos, who drove a three-ton pickup truck at high speed into the back of a sedan in late 2022, killing a toddler. The district attorney’s …
Date: Wednesday, March 11, 2026

A-MAX Insurance Acquires Best Buy Insurance in Arizona
A-MAX Insurance acquired Best Buy Insurance, an Arizona-based agency. The deal marks A-MAX’s first physical expansion into the Arizona market. Best Buy Insurance was established in 1996. A-MAX operates more than 200 locations nationwide, providing access to non-standard and standard …
Date: Wednesday, March 11, 2026

Rhode Island Man Admits He Failed to Pay Taxes on Catalytic Converter Thefts
A Rhode Island man pleaded guilty this week to failing to report hundreds of thousands of dollars in income that he received from selling stolen catalytic converters to a local scrap yard. U.S. Attorney Charles C. Calenda reported that Daniel …
Date: Wednesday, March 11, 2026

Inszone Acquires Nebraska’s Jaffery Insurance & Financial Services
Inszone Insurance Services announced its acquisition of Jaffery Insurance & Financial Services, an independent insurance agency based in Omaha, Nebraska. This acquisition marks Inszone’s entrance into the Nebraska market and strengthens the company’s growing presence in the Midwest. Founded in …
Date: Tuesday, March 10, 2026

WalkerHughes Acquires Missouri’s Hometown Insurance Agency
WalkerHughes Insurance announced its continued expansion in Missouri with the acquisition of Hometown Insurance Agency LLC, located in Independence, Missouri. This partnership marks WalkerHughes’ entry into the Kansas City metropolitan area. Hometown Insurance Agency has established a reputation for personal …
Date: Tuesday, March 10, 2026

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