As of Friday , February 21, 2020 04:31 PM EDT
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FedNat CEO: Litigation Frequency, Severity Triggers Homeowners Reserve Strengthening: FedNat Holding Co. strengthened Florida homeowners claims reserves by $5 million in the fourth quarter amid rising litigation frequency and severity, according to Chief Executive Officer Michael Braun. “We are continuing ...
Date: February 21, 2020 04:31:54

Massachusetts Finalizes Fiduciary Standard Rule: The Massachusetts Securities Division has issued a notice of final action on a fiduciary standard for financial professionals and firms doing business in the state. Failure to adhere to the fiduciary standard of “utmost ...
Date: February 21, 2020 04:28:54

AM Best Affirms Credit Ratings of RBC Life Insurance Company: AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” of RBC Life Insurance Company (RBC Life) (Mississauga, Ontario). The outlook of these ...
Date: February 21, 2020 04:11:01

CEO: UPC Insurance Pulled Back in Problematic Parts of Florida: United Insurance Holdings Corp. (UPC Insurance) has pulled back in parts of Florida and is closely monitoring rates, according to its chief executive officer. The company has nonrenewed and closed business in parts of the ...
Date: February 21, 2020 03:53:22

With Individual Mandate Looming, California Extends Open Enrollment: Covered California has extended its open enrollment period for individuals who need to purchase health insurance or pay a state individual mandate penalty. The open enrollment deadline now is April 30. While enrollment is ...
Date: February 21, 2020 03:01:00

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APCIA: Well-Intended Regulations Could End Insurance Discounts for Millions in California: Mark Sektnan, American Property Casualty Insurance Association vice president for state government relations, said the group opposes a draft regulation it says could eliminate many affinity group insurance discount programs ...
Date: February 21, 2020 02:52:40

ProAssurance CEO: Norcal Acquisition Creates a National Health Care Liability Platform: The just-announced acquisition of another health care professional liability insurer will significantly expand ProAssurance Corp.’s market as the company deals with adverse reserve development stemming from a large national ...
Date: February 21, 2020 02:43:26

TigerRisk Names Managing Director, Head of Capital Advisory: TigerRisk Partners LLC has named William A. Cooper as managing director and head of capital advisory. Cooper, in his new role, will work closely with Tiger’s clients to help them optimize their capital and financing ...
Date: February 21, 2020 02:34:33

Elliott Management Acquires 3.04% Stake in Dutch Insurer NN Group: Investment management firm Elliott Management Corp., has acquired a 3.04% stake in Dutch insurer NN Group N.V., according to filings with the Dutch financial regulator AFM. Elliott Management has partnered with Allianz’s ...
Date: February 21, 2020 02:20:05

AM Best Assigns Issue Credit Rating to Guardian Life Insurance Company of America’s Surplus Notes: AM Best has assigned a Long-Term Issue Credit Rating of “aa-” to the $300 million 3.7% 50-year surplus notes recently issued by Guardian Life Insurance Company of America (Guardian) (New York, NY). The outlook assigned to ...
Date: February 21, 2020 01:30:51

Allianz CEO: Property/Casualty Growth Strengthens in Key Markets: Allianz SE is regaining business in its property/casualty operation in growth markets as the group seeks to improve its commercial lines segment, said its chief executive officer. The group is winning back customers it ...
Date: February 21, 2020 12:18:37

Florida Lawmakers Advance Accuracy in Damages Bill: Committees in Florida’s House of Representatives and Senate are moving tort reform legislation providing long-sought “accuracy in damages” in lawsuits. The House Civil Justice and Commerce committees already have approved ...
Date: February 21, 2020 12:13:14

Best’s Commentary: Southeast Asian Insurers Demonstrate Corporate Social Responsibility in Response to Coronavirus: AM Best expects the claims impact from the coronavirus outbreak to be manageable for Southeast Asia-based insurance companies over the near term; however, a persisting slowdown of business activity and reduced regional ...
Date: February 21, 2020 12:07:53

AM Best Revises Issuer Credit Rating Outlook to Stable for Jordan Insurance Company Plc.: AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of “bb+” of Jordan Insurance ...
Date: February 21, 2020 11:56:18

AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Guaranty Income Life Insurance Co: AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of Guaranty Income Life Insurance ...
Date: February 21, 2020 11:55:03

AM Best Removes From Under Review With Negative Implications and Affirms the Credit Ratings of United Life Insurance Company: AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of United Life Insurance Company (ULIC) (Cedar ...
Date: February 21, 2020 11:54:52

AM Best Removes From Under Review with Negative Implications and Affirms the Credit Ratings of Lincoln Benefit Life Company: AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long Term Issuer Credit Rating of “a-” of Lincoln Benefit Life Company (Lincoln Benefit) ...
Date: February 21, 2020 11:54:40

Global Indemnity Moves to Profit With $29 Million Net Income in Fourth Quarter: Global Indemnity Ltd. posted a $29 million net income in the fourth quarter, moving to profit from a $73.3 million net loss. The quarterly combined ratio improved 60.2 points to 90.5. Net losses and loss adjustment ...
Date: February 21, 2020 11:41:15

WTW Names Market Leader for Malaysian ICT Business: Willis Towers Watson has named Jeremy Lim as the market leader in Malaysia for its insurance consulting and technology business. In his new role, Lim will be responsible for developing and growing the ICT business in ...
Date: February 21, 2020 11:36:58

BestWeek: Insurer Ramifications From COVID-19 Could Surpass Those of Past Pandemics: The mass outbreak of the COVID-19 virus in China is exposing commercial insurers to a wide range of potential claims that will likely have a greater impact on the industry than past pandemics had, according to this week’s ...
Date: February 21, 2020 11:33:06

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