• By A.M. Best   -   Mar 19, 2019

    FEMA TO RESTRUCTURE NFIP RATES, WILL BE BASED ON INDIVIDUAL PROPERTY RISKS

    The Federal Emergency Management Agency has launched an overhaul of the National Flood Insurance Program rate structure, which will...

    Rate, Property, Insurance, Insurances, Management
  • By A.M. Best   -   Mar 19, 2019

    AGEAS UK TO CLOSE OFFICES, CUT JOBS

    Ageas UK said it will close office and cut jobs following a review of its property, IT infrastructure and operations. “This review...

    Property, Jobs, Job
  • By A.M. Best   -   Mar 19, 2019

    UNIVERSITY OF CALIFORNIA'S CAPTIVE DIRECTOR: MULTIPLE CAPTIVES SERVE RANGE OF NEEDS

    Courtney Claflin, executive director, captive programs at the University of California, said the university system operates four captives...

  • By A.M. Best   -   Mar 19, 2019

    FOLLOWING STRONG 2018 RESULT, MUNICH RE TARGETS PROFIT RISE FOR THIS YEAR

    Munich Re is targeting a profit rise of about €200 million in 2019 after a strong gain for the previous year. The past year “was a...

  • By A.M. Best   -   Mar 19, 2019

    UNITEDHEALTH UNIT SUED BY OHIO AG OVER $15.8 MILLION IN ALLEGED OVERCHARGES

    Ohio Attorney General Dave Yost has sued OptumRx, UnitedHealth Group's pharmacy benefits management unit, claiming the PBM overcharged...

    Management
  • By A.M. Best   -   Mar 19, 2019

    AON REGIONAL MANAGING DIRECTOR: NEW COVERAGE FOR CAPTIVES INCLUDE CRYPTOCURRENCY, CANNABIS

    Nancy Gray, regional managing director, Aon, said emerging risks continue to be a growth area for captive formation. Gray spoke with...

    Companies, Insurance, Company, Region, Management, Insurances
  • By A.M. Best   -   Mar 19, 2019

    WITHOUT REFORMS, FLORIDA AOB LAWSUITS COULD SPREAD TO COMMERCIAL LINES

    A problem that has recently plagued homeowners lines, assignment of benefits lawsuits in Florida, could now spread to commercial lines,...

    Insurance, Insurances
  • By A.M. Best   -   Mar 19, 2019

    AM BEST ASSIGNS ISSUE CREDIT RATING TO BRIGHTHOUSE FINANCIAL, INC.'S NEW PREFERRED STOCK

    AM Best has assigned a Long-Term Issue Credit Rating of “bbb-” to the $425 million 6.6% non-cumulative preferred stock, Series A recently...

    Rate, Credit, Credits
  • By A.M. Best   -   Mar 19, 2019

    CHIROPRACTOR PLEADS GUILTY IN MULTIMILLION-DOLLAR FRAUD SCHEME

    A former Long Island chiropractor has pleaded guilty to accepting more than $2 million in payments after billing insurers for millions...

    Service, Insurances, Services, Insurance
  • By A.M. Best   -   Mar 19, 2019

    LAWMAKERS URGE SEC TO RETHINK PROPOSED CONFLICT-OF-INTEREST RULES

    U.S. House lawmakers want the U.S. Securities and Exchange Commission to overhaul proposed rules on conflict-of-interest standards...

    Investment, Exchange, Investments, Housing, Security, House, Invest
  • By A.M. Best   -   Mar 19, 2019

    ALLIANZ GLOBAL CORPORATE AND SPECIALTY REORGANIZES MANAGEMENT

    Allianz Global Corporate & Specialty SE has made a number of changes to its board of management as it reorganizes responsibilities. From...

    Region, Management
  • By A.M. Best   -   Mar 19, 2019

    SOMPO FORMS AUTO SERVICES JOINT VENTURE WITH ONLINE COMPANY DENA IN JAPAN

    Sompo Holdings Inc. and DeNA Co. Ltd. have agreed to form two new joint ventures to meet new car-sharing trends. DeNA Sompo Mobility...

    Trends, Japan, Service, Trend, Company, Companies, Services
  • By A.M. Best   -   Mar 19, 2019

    BEST'S SPECIAL REPORT: PRELIMINARY 2018 RESULTS SHOW TOTAL INCOME FOR U.S. LIFE/ANNUITY INDUSTRY UP 8.5%

    The U.S. life/annuity industry's total income for year-end 2018 increased 8.5% from the prior year, attributable to $54.1 billion increase...

    Industry, Industries, Life annuity
  • By A.M. Best   -   Mar 18, 2019

    ARKANSAS INSURANCE DEPARTMENT TAKES OVER HEALTH INSURANCE MARKETPLACE

    The Arkansas Insurance Department now is the home of the state's health insurance marketplace. Under Act 107, passed in February and...

    Insurance, Insurances
  • By A.M. Best   -   Mar 18, 2019

    LLOYD'S MANAGING GENERAL AGENCY ANTARES NAMES HEAD OF FINANCIAL INSTITUTIONS

    Martin Campbell has been appointed head of financial institutions at Antares Syndicate 1274, the Lloyd's managing agency and member...

    Management
  • By A.M. Best   -   Mar 18, 2019

    INSURERS SEE MORE THAN 7,000 CLAIMS AFTER WINTER STORMS HIT CENTRAL US

    USAA, State Farm and American Family Insurance have incurred more than 7,000 claims from a spate of winter storms, including a bomb...

    Insurance, Insurances
  • By A.M. Best   -   Mar 18, 2019

    US HOUSE BILL WOULD BAN USE OF CREDIT SCORES IN AUTO RATE SETTING

    An insurance industry association has already fired back at a bill recently introduced in Congress that would prohibit insurers from...

    Rate, Insurance, Credits, House, Credit, Housing, Industries, Industry, Insurances
  • By A.M. Best   -   Mar 18, 2019

    CASTEL PROMOTES TRANSACT TEAM IN EUROPE TO STANDALONE MGA UNDERWRITING CELL

    Castel Underwriting Agencies Ltd. said it promoted Transact Risk Partners from a division within the Castel Specialty portfolio to...

    Transaction, Management, Europe
  • By A.M. Best   -   Mar 18, 2019

    PALOMAR HOLDINGS PLANS IPO TO BOOST SPECIALTY CAPITAL UP TO $40 MILLION

    Palomar Holdings Inc. plans an initial public offering that would boost Palomar Specialty Insurance Co. capital up to $40 million and...

    Insurance, Insurances
  • By A.M. Best   -   Mar 18, 2019

    TALANX CEO: INDUSTRIAL LINES REVAMP PROGRESSES BUT LARGE LOSSES EXCEED 2018 BUDGET

    A turnaround effort in the industrial fire segment is progressing as Germany-based Talanx Group saw a continued but improving catastrophe...

    Industry, Industries, Germany