AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent) of Illinois Casualty Company (ICC) and Lebanon Valley Insurance Company (LV). The outlook of the Credit Ratings (ratings) has been revised to stable from positive. ICC …
Productivity improvements and automation, better risk identification and fraud detection could generate value for sector, insurtech firm says Source link
Data center opposition had been building across the country, one moratorium or blocked project at a time. Then, virtually overnight, the midterm election tilted a broad swath of the regulatory map against the AI buildout. Newly elected governors in Ohio, Georgia, Michigan, New Mexico and Texas campaigned on a promise to stop — or at …
Broker’s chief executive Steve McGill describes what success looks like for him, his firm and the re/insurance industry Source link
Jane Kim claimed victory over fellow Democrat Ben Allen in the race for California insurance commissioner on Friday. Kim was up by more than 400,000 votes as of Friday afternoon. As of Wednesday morning, 99.8% of precincts had reported in, though a large number of votes remain uncounted. Kim had 52.7% of the vote to …
QBE will manage Blackstone-backed reinsurance syndicate 1956 Source link
Sporadic bomb threats continued to disrupt multiple flights across Europe on Friday, capping a week of unusual alerts that have put the aviation industry on guard and raised alarm with authorities. Flights operated by Ryanair Holdings Plc, Wizz Air Holdings Plc and Romania’s Tarom received alerts about bomb threats on Friday, according to airlines and …
Brokers and North American stocks enjoy strong gains as insurance sector outperforms major indices Source link
The Missouri Department of Commerce and Insurance (DCI) announced the release of workers’ compensation rates for employers for 2027. The National Council on Compensation Insurance (NCCI) has proposed rate-neutral loss costs at 0%, keeping average rates steady for Missouri businesses. The stable rate environment is driven primarily by a sustained decline in claims frequency across …
Syndicate will write specialty, facilities and selected MGA business Source link
Geologists and hydrologists can use scientific charts and graphs to understand the increasing water challenges facing South Dakota, but it only takes a brief visit to Bear Butte State Park near Sturgis for a non-scientist to see the outcome of decreasing water levels. The lake that forms the centerpiece of the state park is usually …
Lloyd’s consolidates oversight and performance into a single function under chief of markets Rachel Turk Source link