As of Monday , December 09, 2019 12:13 PM EDT
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PG&E Reaches $13.5 Billion Settlement With Wildfire Victims: Pacific Gas & Electric reached a tentative $13.5 billion settlement with a group of wildfire victims to settle claims from the 2017 northern California wildfires and the 2018 Camp Fire. The agreement closes all outstanding ...
Date: December 09, 2019 12:13:31

Centene-WellCare Deal Gets Go-Ahead From NJ and Illinois — the Final Two States Needed: With regulatory approval in Illinois and New Jersey, Centene Corp. has moved one step closer to finalizing its acquisition of WellCare Health Plans Inc. All 27 states needed have now given their approval, Centene said in a ...
Date: December 09, 2019 12:08:16

AIG, NAIC Demonstrate Buy-In to Climate Change Action: A lot has changed since 2008, when many insurers were taking an uncertain view of climate change. Although American International Group Inc. had fairly early on become the first U.S. insurer to implement a climate change ...
Date: December 09, 2019 11:52:16

Time Runs Out for Finishing Touches on Annuity Suitability Standard at NAIC Fall Meeting: Fine-tuning of the National Association of Insurance Commissioners’ annuity suitability model will continue until the end of the year, after the clock ran out on regulators trying to put the finishing touches on the model at ...
Date: December 09, 2019 11:22:41

Missouri Insurance Commissioner: Metro Hubs Faring Better in Health Market Than Rural Ones: Like other Midwestern states, Missouri had a tough time with Mother Nature in 2019. A tornado tore through the middle of the state back in May, said Chlora Lindley-Myers, director of the Missouri Department of Commerce ...
Date: December 09, 2019 11:12:50

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NAIC Presents First Peek at Group Capital Calculation Field Test Findings: National Association of Insurance Commissioners staff presented their first public look at the field test of a Group Capital Calculation tool at its fall conference, revealing a process that is still very much of a work in ...
Date: December 09, 2019 11:03:28

Insurance Industry Urges Care at Initial Privacy Protections Group Meeting at NAIC: Insurance industry representatives urged regulators at the first gathering of the National Association of Insurance Commissioners’ Privacy Protections (D) Working Group to be careful and thoughtful about what they do as the ...
Date: December 09, 2019 10:52:20

BLS: November Insurance Jobs Bounce Back After Flat October: After a flat showing in October, hiring ticked up in the insurance industry as companies added 2,900 employees in November, according to preliminary data from the U.S. Department of Labor’s Bureau of Labor Statistics. The ...
Date: December 09, 2019 10:44:04

Best's Interactive Webinar Highlights Posted for “How Data Integrations into SaaS Core Systems are Transforming Insurance”: Viewers can access highlights from an AM Best webinar sponsored by LexisNexis® Risk Solutions to learn how data integrations in modern SaaS core systems are enabling carriers to transform the way they do ...
Date: December 09, 2019 10:29:35

AM Best Downgrades and Withdraws Credit Ratings of ACR Capital Holdings Pte. Ltd. and Its Associated Companies: AM Best has downgraded the Financial Strength Ratings to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” from “a-” of Asia Capital Reinsurance Group Pte. Ltd. (Asia Capital ...
Date: December 09, 2019 10:23:10

In Wake of California Wildfires, Insurers Hike Rates, Exit Risk Zones: With California wildfires causing more than $10 billion in insured losses in just one year, insurers are taking tough measures, filing rounds of rate hike requests and in some cases, exiting fire-prone areas. As premiums ...
Date: December 09, 2019 09:14:14

Best’s Market Segment Report: AM Best Maintains U.S. Personal Lines Insurance Market Outlook at Stable: AM Best has maintained a market segment outlook of stable on the U.S. personal lines industry for 2020, citing a significant decline in catastrophe activity, profitable underwriting performance in the private passenger auto ...
Date: December 09, 2019 09:06:09

Best’s Market Segment Report: AM Best Maintains U.S. Commercial Lines Insurance Market Outlook at Stable: AM Best has maintained a market segment outlook of stable on the U.S. commercial lines industry for 2020, citing factors such as improved market conditions and solid levels of risk-adjusted capitalization that have helped ...
Date: December 09, 2019 08:37:34

AM Best Affirms Credit Ratings of Arab Reinsurance Company S.A.L.: AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Arab Reinsurance Company S.A.L. (Arab Re) (Lebanon). The outlooks of these Credit Ratings (ratings) remain ...
Date: December 06, 2019 04:23:49

Chubb Names Three New Leaders to North America Commercial Insurance Division: Chubb Group has made several leadership changes in its North America commercial insurance division. Ben Rockwell, currently executive vice president and chief underwriting officer, was named vice president to head middle ...
Date: December 06, 2019 04:02:31

California FAIR Plan Disputes DOI’s Time Line, Expanded Coverage Order: California’s FAIR Plan said it can’t comply with the state insurance commissioner’s time line to expand lines of coverage and payment options and doesn’t think it should become a full property insurer. By law, the insurer ...
Date: December 06, 2019 03:38:58

Aon: Storms Across North America, Europe Top November Catastrophe Losses: Storms across the United States and Europe and brushfires in Australia led the list of November catastrophe events, said Broker Aon Ltd. “At least three early season winter storms swept across most of the United States ...
Date: December 06, 2019 02:53:16

AmTrust Promotes CFO to President: AmTrust Financial Services Inc. has promoted Adam Karkowsky, current chief financial officer, to president of AmTrust. Karkowsky begins his new role immediately and will also continue to serve as CFO until his successor ...
Date: December 06, 2019 02:38:11

Ping An Fintech Affiliate OneConnect Values US IPO at up to US$504 Million: The financial technology affiliate of China’s Ping An Insurance (Group) Company of China Ltd. filed an amended preliminary initial public offering prospectus with the U.S. Securities and Exchange Commission for a U.S. IPO ...
Date: December 06, 2019 02:34:46

AM Best Places Credit Rating of Armour Secure Insurance S.A. de C.V. Under Review With Developing Implications: AM Best has placed under review with developing implications the Financial Strength Rating of B (Fair), the Long-Term Issuer Credit Rating of “bb” and the Mexico National Scale Rating of “a.MX” of Armour Secure Insurance ...
Date: December 06, 2019 02:05:16

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