Appeals Court Upholds DC Health Insurer Tax: An appeals court has handed a defeat to a group of insurers that sought to invalidate a tax by the District of Columbia to fund its Affordable Care Act exchange. A panel of three judges upheld the ruling of a trial court, ...
Date: September 25, 2020 03:35:32

NCOIL Adopts Model Designed to Boost Private Flood Insurance: A National Council of Insurance Legislators committee has approved a flood insurance model act that it said will boost the private flood insurance market. NCOIL’s Special Committee on Natural Disaster Recovery passed the ...
Date: September 25, 2020 03:05:34

Hippo and Topa End Partnership; Policies Moving to Hippo-Acquired Spinnaker: Insurtech managing general agent Hippo and carrier Topa Insurance Co. are ending a partnership, the companies said in a joint statement. Hippo said it will transfer home insurance policies underwritten by Topa in eight ...
Date: September 25, 2020 02:53:48

Arthur J. Gallagher Sues Alliant, Alleging Millions in Losses From Employee Poaching: Arthur J. Gallagher & Co. is suing rival broker Alliant Insurance Services Inc. a second time, alleging Alliant and its owner Stone Point Capital LLC are engaged in a strategy of employee poaching that may be costing ...
Date: September 25, 2020 02:46:19

AM Best to Sponsor and Exhibit at the 2020 SIR Virtual Annual Conference: AM Best is a gold sponsor of the 2020 SIR Virtual Annual Conference, Oct. 1 and Oct. 20–22, 2020, and will be virtually meeting with attendees through an online booth. Mark Kuhlman, senior account manager, and Jennifer ...
Date: September 25, 2020 02:09:59

Citizens CEO: Unhealthy Private Market Means Business Returning to Insurer: Florida Citizens Property Insurance Corp.’s growth rate is accelerating as private insurers raise rates as much as 33.5%, according to Chief Executive Officer and President Barry Gilway. He projects 625,000 policies next ...
Date: September 25, 2020 02:08:00

AM Best Affirms Credit Ratings of Ardellis Insurance Ltd.: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Ardellis Insurance Ltd. (Ardellis) (Bermuda). The outlook of these Credit Ratings (ratings) is ...
Date: September 25, 2020 02:06:24

BestWeek: AM Best: Storms, Floods, Fires Drive Up Losses for US Crop Insurers: Connor Brach, financial analyst, and David Blades, associate director, industry research and criteria, both of AM Best, said insurers that write multiperil crop coverage are experiencing successive years of extraordinary ...
Date: September 25, 2020 01:32:04

Principal Financial Group Names Successor to Retiring President of Principal Global Asset Management: Principal Financial Group said Pat Halter, chief executive officer and president of Principal Global Investors, will succeed Tim Dunbar as president of Principal Global Asset Management. Halter will transition to his new ...
Date: September 25, 2020 01:12:36

AM Best Affirms Credit Ratings of Oil Casualty Insurance, Ltd: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Oil Casualty Insurance, Ltd (OCIL) (Hamilton, Bermuda). AM Best also has affirmed the Long-Term Issue ...
Date: September 25, 2020 12:57:47

Trump Signs Order Supporting Ban on Preexisting Condition Exclusions: President Trump has signed an executive order supporting the ban on health insurers excluding coverage to people with preexisting conditions, a critical element of the law the administration is hoping to strike down. The ...
Date: September 25, 2020 12:53:40

Allianz SE Makes Changes to the Board of Management: Allianz SE said it has made changes to the board of management. Barbara Karuth-Zelle has been named to succeed Christof Mascher, and Christopher Townsend has been named to succeed Niran Peiris. Board mandates have also been ...
Date: September 25, 2020 12:50:13

Swiss Re to Place Corporate Solutions Unit Under Reinsurance Entity in Streamlining Move: Swiss Re said it will further streamline the group’s legal entity structure, making Swiss Reinsurance Co. Ltd. the sole direct wholly owned operating subsidiary of Swiss Re Ltd. The reinsurance company will assume the debt ...
Date: September 25, 2020 12:36:50

AM Best Affirms Credit Ratings of Worldwide Medical Assurance, Ltd. Corp.: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Worldwide Medical Assurance, Ltd. Corp. (WWMA) (Panama City, Panama). The outlook of these Credit Ratings ...
Date: September 25, 2020 11:47:24

ACORD: 2020 Is ‘Inflection Point’ in Insurers Digital Maturity: Digitally mature insurers are outperforming technical laggards in premium growth and profitability, said ACORD’s chief executive officer, Bill Pieroni. View the video version of this interview at: ...
Date: September 25, 2020 10:48:30

AM Best Affirms Credit Ratings for Members of Ally Insurance Group: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” for the members of Ally Insurance Group (Ally Insurance). The members include Motors Insurance Corporation ...
Date: September 25, 2020 10:45:03

AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of Hyundai Insurance (China) Co., Ltd.: AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Hyundai Insurance (China) Co., Ltd. (HIC) ...
Date: September 25, 2020 09:35:37

AM Best Affirms Credit Ratings of Taiping Reinsurance Company Limited and Its Subsidiary: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of Taiping Reinsurance Company Limited (TPRe) (Hong Kong) and its wholly owned subsidiary, Taiping ...
Date: September 25, 2020 09:34:27

AM Best Affirms Credit Ratings of SCOR SE and Its Main Operating Subsidiaries: AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of SCOR SE (SCOR) (France) and its main operating subsidiaries. Concurrently, AM Best has ...
Date: September 25, 2020 09:08:26

AM Best Named Rating Agency of the Year at the Reactions North America Awards 2020: AM Best has been named Rating Agency of the Year at the Reactions North America Awards 2020. The event was held on Sept. 24, 2020. The awards acknowledge innovation and excellence across the North American (re)insurance ...
Date: September 25, 2020 09:05:26