WASHINGTON--(BUSINESS WIRE)-- The National Retail Federation welcomed the House Budget Committee’s 19-17 approval today of Obamacare repeal-and-replace legislation, which sets the stage for a vote by the full House as soon as next week.

“This legislation contains many long-sought victories for retailers, most importantly the effective repeal of the employer mandate,” NRF Vice President for Health Care Policy Neil Trautwein said. “Health insurance reform was supposed to make coverage more affordable. Instead, Obamacare emphasized mandates that only drove up expenses for the employers who provide the vast majority of that coverage. Now we have a chance to get it right by moving our nation toward a more competition-driven health care market, and this bill takes a number of significant steps in that direction. Overall, this is a very good deal for retailers.”

Legislation approved this morning includes several provisions supported by NRF. It would effectively repeal the Affordable Care Act’s employer mandate by reducing the penalty for non-compliance to zero; repeals the so-called Cadillac tax on high-value health plans until 2025; would lead to future insurance premium savings by repealing the health insurance tax, medical device tax and pharmaceutical tax; increases flexibility for health savings accounts; and takes a substantial first step toward Medicaid entitlement reform.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

PERMALINK

View source version on businesswire.com: http://www.businesswire.com/news/home/20170316006075/en/

National Retail Federation

J. Craig Shearman, 855-NRF-PRESS

[email protected]

Source: National Retail Federation

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the members of Crum & Forster Insurance Group (C&F). Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Monitor Life Insurance Company of New York (Monitor Life) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)

The ratings of C&F reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM). The ratings also reflect the benefits the group derives from its role within the larger Fairfax Financial Holdings Limited enterprise (Fairfax).

C&F’s favorable business profile is supported by its significant and expanding presence in the commercial insurance segment, particularly in the accident and health lines of business, which drove the group’s premium growth in 2025. Despite large dividend payouts over the years, the company’s stable and profitable underwriting, coupled with investment income and capital gains, have led to a stable risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which remains in the very strong range.

As part of the Fairfax group, C&F benefits from capital management services, additional layers of ERM oversight and shared technology development.

The ratings of Monitor Life reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings also reflect the financial support and strategic importance to its parent, United States Fire Insurance Company, part of C&F.

The affirmations of the ratings for Monitor Life reflect its strongest level of risk-adjusted capitalization as measured by BCAR, which are partially offset by a modest level of absolute capital and surplus. Net premiums written and earnings are expected to remain relatively modest over the short term as the company continues to build scale. Monitor Life holds certificates of authority to write business in 50 states and the District of Columbia, as well as distributes products through C&F’s national distribution network. C&F coordinates its ERM.

The FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) have been affirmed with stable outlooks for the following members of Crum & Forster Insurance Group:

• Crum & Forster Indemnity Company
• Crum and Forster Insurance Company
• The North River Insurance Company
• United States Fire Insurance Company
• Crum & Forster Specialty Insurance Company
• First Mercury Insurance Company
• American Underwriters Insurance Company
• Seneca Insurance Company, Inc.
• Crum & Forster SPC
• Seneca Specialty Insurance Company
• MTAW Insurance Company

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.

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 Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260827295918/en/

Guilherme Monteiro Simoes, CFA
Senior Financial Analyst
+1 908 882 2317
[email protected]

Brian Virostek
Financial Analyst
+1 908 882 2417
[email protected]

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
[email protected]

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
[email protected]

Source: AM Best