HOUSTON, Texas - Yesterday, U.S. Sen. Ted Cruz (R-Texas) made several stops in Beaumont, where he met with community leaders and storm victims, and shared his priorities for storm recovery efforts. At a roundtable discussion on recovery efforts with members of the South East Texas Regional Planning Commission, Sen. Cruz shared how storm-impacted Texans can receive significant tax relief as a result of his recent legislation, which was signed into law by President Trump and co-sponsored by Sens. John Cornyn (R-Texas) and Marco Rubio (R-Fla.). Later, Sen. Cruz joined Team Rubicon to assist with clean-up and rebuilding efforts.

Several media outlets covered Sen. Cruz's visits in Beaumont. Selected news coverage is below:

KFDM: Sen. Ted Cruz meets with planning commission in Beaumont

"In his first of two stops in Beaumont on Tuesday, U.S. Sen. Ted Cruz met with community leaders at the South East Texas Regional Planning Commission on the Eastex Freeway and said immediate tax relief is available from those affected by Harvey. He followed that up with volunteer work with Team Rubicon, a non-profit organization founded by U.S. Marines engaging in emergency response. The appearance comes a day after Cruz was in Rockport and Woodsboro near Corpus Christi touting tax relief legislation for victims of Hurricanes Harvey, Irma and Maria. The new law allows storm victims to withdraw money from a 401(k) or IRA without paying the normal 10 percent penalty. Cruz says this will make it easier to access savings to help rebuild from the storm. The law also proved a tax credit to businesses who continued to pay employees who could not report to work during the hurricane."

KBMT: Texas Sen. Ted Cruz Visits Beaumont

"'We've seen incredible heroism of first responders and just ordinary Texans risking their lives to save their neighbors,' Sen. Cruz said. 'And we're seeing that same unity, that same love, that same cohesion and strength that got us through the storm, is getting us through rebuilding.' Senator Ted Cruz stopped by Beaumont this morning to get an update on Harvey recovery efforts."

KCBD: Sen. Cruz Tours Harvey Recovery

"Texas Senator Ted Cruz met with city officials in Beaumont about recovery efforts from Hurricane Harvey today. The Senator met with the group at the South East Texas Regional Planning Commission. While there he told community leaders immediate tax relief was available for those affected by Harvey. Sen. Cruz later volunteered with Team Rubicon - a non-profit group founded by the U.S. Marines. This comes one day after he promoted the tax relief bill in Rockport for victims of recent hurricanes. 'If you're in a county that's hit by a disaster - and if your home was damaged by Harvey,' Sen. Cruz said. 'Or for that matter if it was damaged - if you're in Florida by Irma, or if you're in Puerto Rico by Maria - that for all of those hurricane disaster areas, there are a number of elements of targeted tax relief.'"

Read this original document at: https://www.cruz.senate.gov/?p=press_release&id=3420

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has assigned a Financial Strength Rating of A++ (Superior) and a Long-Term Issuer Credit Rating of “aa+” (Superior) to Lasso Healthcare Insurance Company (Lasso) (Indianapolis, IN). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Lasso’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and very strong enterprise risk management (ERM).

The very strong balance sheet assessment reflects Lasso’s strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), as well as its conservative investment portfolio. The assessment also considers the financial support provided by its parent, HCC Life Insurance Company (HCC Life).

The adequate operating performance assessment reflects the historical performance of the established captive program medical stop-loss business that will transition to Lasso. Although Lasso has yet to issue policies under its current strategy, HCC Life has written the underlying business for approximately 15 years, during which it has generated positive operating results. Management expects profitability to continue through the initial transition and deployment on Lasso paper. The continuity of personnel, management and operating infrastructure should support a smooth transition of the business.

The very strong ERM assessment for Lasso reflects Lasso’s integration into the established ERM framework of HCC Life and the broader Tokio Marine organization. Lasso will utilize the same management, systems, economic modeling and risk-management infrastructure as HCC Life. Lasso also benefits from established reinsurance oversight and participates in a whole-account quota-share arrangement within the Tokio Marine organization.

Finally, the ratings also recognize the operational and financial support provided by Lasso’s parent, ultimate parent and affiliated entities within the Tokio Marine organization. By helping alleviate the channel conflict at HCC Life, Lasso now assumes a role in supporting Tokio Marine’s broader international strategy and diversification of revenues and customer segments.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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Source: AM Best