WASHINGTON, Aug. 28 -- Rep. Bill Pascrell Jr., D-New Jersey, issued the following news release:

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- Procurement of federal funds comes mere days after Paterson firefighters battled tragic blaze at local rehab facility

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Today, U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), co-chair of the Congressional Fire Services Caucus, announced the awarding of a $289,450 federal Assistance to Firefighter Grant (AFG) to the Paterson Fire Department. Administered by the Department of Homeland Security's Federal Emergency Management Agency, the AFG program provides direct support to eligible fire departments to help them meet the demanding and ever-evolving nature of their work.

"The brave men and women of the Paterson Fire Department put their lives on the line every day to keep our community safe," said Rep. Pascrell, a longtime champion in Congress of state and federal services. "I stood with our first responders this weekend as we surveyed the horrific damage at the Straight and Narrow rehabilitation complex here in Paterson. While the destruction is unquestionably tragic, not a single life was lost thanks to the rapid response and execution by Paterson firefighters. But our fire professionals always need ample resources to do their duty, and this federal investment will continue to provide Paterson's Bravest with the tools they need to be prepared for any emergency. As co-chair of the Congressional Fire Services Caucus, I will continue to fight for each and every federal dollar for our first responders so that they can do their jobs safely and efficiently."

"Congressman Pascrell has always been an advocate for our firefighters and this award supports their hard work," said Paterson Mayor Andre Sayegh. "Paterson firefighters have proven to be brave and selfless heroes as we have seen countless times and this funding for equipment will ensure Patersonians continue to benefit from this bravery. In fact, the work of our firefighters is on display weekly on the television series "Live Rescue," and the Assistance to Firefighter Grant provides to them what they need to succeed."

"Cancer prevention for firefighters is at the forefront of this grant award," said Paterson Fire Chief Brian McDermott. "Putting source capture devices at the inception of carcinogen production, fire apparatus diesel exhaust pipes will ensure a more health friendly atmosphere in which to work and for the community to gather. It will also achieve compliance with laws and standards associated with reducing carbon emissions with fire stations. No longer will the walls be covered in diesel dust putting firefighters at further risk of reduced life span. I thank the Federal government in particular Congressman Bill Pascrell, for taking an interest in furthering firefighter and public safety and for the support of Mayor Sayegh and the entire Paterson Council."

The AFG program provides financial support to fire departments to purchase equipment, training, emergency vehicles, and other firefighting and fire prevention activities. The funding is made possible under Rep. Pascrell's Firefighter Investment and Response Enhancement (FIRE) Act, which was signed into law in 2000 by President Bill Clinton.

In 2018, Rep. Pascrell celebrated the signing into law of his Firefighter Cancer Registry Act (H.R. 931), which established a national cancer registry for firefighters diagnosed with the deadly disease. Rep. Pascrell and Sen. Bob Menendez (D-NJ) first announced introduction of the Firefighter Cancer Registry Act in May 2016 during a news conference at Clifton Fire Station 5, where they were joined by dozens of firefighters, including retired Haddon Heights Fire Chief Gene Dannenfelster, who since lost his battle with cancer. H.R.931 was introduced in the 115th Congress on February 17, 2017.

SINGAPORE--(BUSINESS WIRE)--
AM Best is maintaining its stable outlook on Vietnam’s non-life insurance segment, citing robust demand, technology adoption and healthy macroeconomic factors.

The Best’s Market Segment Report, “Market Segment Outlook: Vietnam Non-Life Insurance,” states that the country’s positive macroeconomic performance has been underpinned by buoyant electronic exports, and increasing foreign direct investment, driven by the global investment boom in artificial intelligence-related technology and infrastructure. The strong macroeconomic fundamentals, along with increased government expenditure, continue to drive commercial insurance demand and support operating earnings, despite increasing competition.

“Vietnam’s non-life market has been attractive to foreign insurance groups and domestic financial conglomerates seeking growth and diversification. As market competition intensifies, insurers’ underwriting discipline faces challenges from these new entrants and incumbents seeking growth,” said Ken Lau, senior financial analyst, AM Best.

According to the report, operating earnings in 2025 exhibited a strong recovery from the prior year, due in large part to favourable underwriting earnings as the market recovers from the impact of Typhoon Yagi in 2024. Vietnam’s non-life insurance market also showed strong top-line growth in 2025, and the positive trend extended into the first half of 2026. AM Best expects the market’s overall operating performance to remain resilient, underpinned by stable investment returns and positive underwriting results, along with easing reinsurance market conditions.

“Non-life insurers in Vietnam continue to benefit from ample reinsurance capacity and more favourable renewal terms in 2026 and are increasingly well-positioned to optimise their reinsurance programmes to protect against the potential impact of severe catastrophic events,” said Chris Lim, director, AM Best.

To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=366900.

AM Best’s outlook on Vietnam’s non-life segment will be highlighted in a presentation at the Vietnam Insurance Summit, to be held on 31 July 2026, in Da Nang, Vietnam. Additionally, Rob Curtis, managing director and chief executive officer of AM Best’s Singapore operations, will be in attendance and available for meetings. To arrange a meeting with Curtis, please email [email protected]. Visitors to AM Best’s exhibit booth (No. 10) also can learn more about the rating agency’s role in the insurance industry. AM Best is a diamond sponsor of the event, which will take place at KOI Resort & Residence Da Nang. To learn more about the summit, visit here.

To view current Best’s Market Segment Outlooks, please visit here.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260726209986/en/

Ken Lau
Senior Financial Analyst

+65 6303 5025

[email protected]

Chris Lim
Director, Analytics

+65 6303 5018

[email protected]

Christopher Sharkey
Associate Director, Public Relations

+1 908 882 2310

[email protected]

Cynthia Ang
Senior Industry Research Analyst

+65 6303 5026

[email protected]

Source: AM Best