NY Health Plan Association: Low Approved Individual Rates May Be Destabilizing: Rates for individual market health coverage in New York will rise less than 2% in 2021, but insurers say regulators may have gone too far in cutting down increases. The state Department of Financial Services said rates in ...
Date: August 14, 2020 04:23:09

Insurance Trades, Companies Want Changes to DOL Advice Rule: Insurance trade associations and companies are seeking changes to the U.S. Department of Labor’s proposed regulations governing financial advisers’ standard of care when recommending retirement products to consumers. The ...
Date: August 14, 2020 04:20:22

US House Democrats Launch Probe Into Whether Carriers Are Providing Free COVID-19 Testing: U.S. House Democrats are investigating whether five major health carriers have failed to provide coverage of COVID-19 tests without cost-sharing while at the same time reporting significant profits in the midst of the ...
Date: August 14, 2020 03:56:31

Zurich UK Posts First-Half Loss on COVID-19-Related Items: Zurich UK posted a first-half business operating loss as the company recorded £212 million ($277.5 million) of COVID-19-related items. The U.K. business operating loss for the half was £63 million, Zurich said in a ...
Date: August 14, 2020 03:52:53

Aon Estimates One-Third of Iowa Crops Damaged or Destroyed: The lines of intense storms that moved across the Midwest on Aug. 10 have damaged one third of the crop land in Iowa, or 10 million acres, in addition to impacting or destroying tens of million of bushels of stored grain, ...
Date: August 14, 2020 03:38:07

NAIC Panel: Lack of Transparency, Accountability in Insurance Hurt Minorities: A lack of transparency and accountability, combined with a failure to keep up with a rapidly changing business environment, has kept insurance companies and regulators from effectively fighting systemic racism and bias in ...
Date: August 14, 2020 02:18:44

While Hurt by Investments, 1347 PIH Narrows Second-Quarter Net Loss to $2.6 Million: 1347 Property Insurance Holdings Inc.’s net loss narrowed to $2.6 million from $4.5 million in the prior-year period. It attributed the results largely to $726,000 of non-cash losses associated with the change in fair ...
Date: August 14, 2020 02:03:30

IGI President: Group Has Exposure to Beirut Port Explosion: While reporting significant rate firming in many of its business lines, International General Insurance Holdings Ltd.’s president said the group has some exposure to the recent explosion in Beirut, Lebanon. The group does ...
Date: August 14, 2020 01:54:10

Federal Judge Allows Businesses to Sue Cincinnati Insurance Over BI Claims: A federal judge has allowed five COVID-19-impacted businesses to pursue business interruption claims against Cincinnati Insurance Co., finding the all-risk policies — which don’t contain pandemic exclusions — did not require ...
Date: August 14, 2020 01:42:00

BestWeek: Observers Say COVID-19 Stresses Higher Education Insurance Market: Liability rates for higher education institutions this year could rise 30% to 50%, or higher, as pandemic risks inject uncertainty in a market that was already retrenching, according to industry professionals in this week’s ...
Date: August 14, 2020 01:35:34

AM Best Downgrades and Withdraws Credit Ratings of Bankers Assurance S.A.L: AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B (Fair) and the Long-Term Issuer Credit Rating to “b+” from “bb” of Bankers Assurance S.A.L. (Bankers) (Lebanon). The Credit Ratings (ratings) are ...
Date: August 14, 2020 01:01:19

AM Best Affirms Credit Ratings of State Farm Mutual Automobile Insurance Company and Most of Its Subsidiaries: AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” of State Farm Mutual Automobile Insurance Company (State Farm Mutual) and its ...
Date: August 14, 2020 11:40:40

AM Best Affirms Credit Ratings of QBE Insurance Group Limited and Its Key Subsidiaries: AM Best has affirmed the Financial Strength Ratings (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of QBE Europe nv/sa (Belgium), QBE UK Limited (United Kingdom), and the pooled ...
Date: August 14, 2020 11:39:50

UK Life Insurers Paid $118 Million During Height of COVID-19 Pandemic: Britain’s insurers saw more than 7,000 claims from March 1 to May 31 and paid £90 million ($118 million) collectively during the span, according to research from the Association of British Insurers. British insurers paid ...
Date: August 14, 2020 11:11:03

Exchange Agreement With Trident V Nets Enstar Greater Share in StarStone U.S. Holdings: Enstar Group Ltd. said it entered an exchange agreement with Trident V L.P. and affiliated funds managed by Stone Point Capital LLC that will give Enstar a greater share in StarStone U.S. Holdings Inc. The agreement will ...
Date: August 14, 2020 10:18:33

AM Best Upgrades Credit Ratings of DPL Insurance Limited: AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” from “bbb-” of DPL Insurance Limited (DPL) (New Zealand). The outlook of these Credit Ratings ...
Date: August 14, 2020 09:00:47

AM Best Affirms Credit Ratings of China BOCOM Insurance Company Limited: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of China BOCOM Insurance Company Limited (CBIC) (Hong Kong). The outlook of these Credit Ratings (ratings) ...
Date: August 14, 2020 08:49:02

AM Best Affirms Credit Ratings of Sompo Seguros Mexico, S.A. de C.V.: AM Best has affirmed the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of “aa-” and the Mexico National Scale Rating of “aaa.MX” of Sompo Seguros Mexico, S.A. de C.V. (Sompo Mexico) (Mexico ...
Date: August 14, 2020 08:32:29

AM Best Affirms Credit Ratings of Sompo Japan Insurance Inc. and Its Subsidiaries: AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” of Sompo Japan Insurance Inc. (SJ) (Japan). The outlook of these Credit Ratings ...
Date: August 14, 2020 08:30:33

AM Best Affirms Credit Ratings of Tokio Marine & Nichido Fire Insurance Co., Ltd. and Its US Subsidiaries: AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) (Japan). The outlook of ...
Date: August 14, 2020 08:24:45