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Hefty payouts spur changes to liability program for Yolo County agencies, cities

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After absorbing tens of millions of dollars in recent claims, Yolo County’ s municipal insurance risk pool is overhauling how it charges members, shifting more costs onto agencies with a history of losses. But members of the Yolo County Public Agency Risk Management Insurance Authority that have paid out claims from the risk pool will see their costs increase…

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AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb” of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of Kazakhstan, JSC. An offsetting balance sheet strength factor is the material exposure to the high financial system risk in Kazakhstan. In 2024, the company reported a return on equity of 57%,…

The ultimate parent of Euro Accident is Impilo AB, a Swedish investment firm focused on Nordic healthcare investments. Euro Accident has delivered robust results since 2019, which was its first full year of operation as a Sweden- domiciled insurance company. In 2025, the company generated a return on equity of 22%, as calculated by AM Best, driven by the positive…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a+” of Symetra Life Insurance Company and its subsidiary, First Symetra National Life Insurance Company of New York, together referred to as Symetra Life Group. Concurrently, AM Best has affirmed the Long-Term ICR of“ bbb+” of Symetra Life Group’ s parent, Symetra…

AM Best has commented that the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a” of CopperPoint Insurance Company and its wholly owned subsidiaries remain unchanged following the recent announcement of a transaction to acquire United Casualty and Surety Insurance Company. On May 18, 2026, Boston Omaha Corporation announced that…

Kathy Hochul recently announced a series of auto insurance reforms included in New York's fiscal year 2027 budget that state officials say are aimed at reducing premiums by cracking down on fraud, limiting certain lawsuit damages and tightening oversight of insurers. The budget also increases regulatory authority over insurers, including restrictions…

AM Best will speak, sponsor and exhibit at the Philippine Insurance Summit on Wednesday, 3 June 2026 in Makati City, Philippines at the Fairmont Hotel. Additionally, Rob Curtis, managing director and chief executive officer of AM Best’ s Singapore operations will also be in attendance for meetings. Headquartered in the United States, the company does business in…

AM Best has assigned a Financial Strength Rating of A++ and a Long-Term Issuer Credit Rating of“ aa+” to Park Avenue Life Insurance Company. The ratings also reflect implicit support from PALIC’ s parent company, Guardian Life Insurance Company of America. PALIC is not actively writing new business but the company is licensed in 48 states and the District of Columbia,…

State Farm is reimbursing nearly three-quarters of holders of personal auto insurance policies for 2022 model vehicles because a filing updating coverage for them included information it hadn't used before in Virginia. State Farm has about 16% of the market, insuring Virginia's 8 million-plus cars and trucks, and collects about $1.4 billion in premiums…

The Risk Management Agency of the United States Department of Agriculture offers prevented planting provisions in insurance policies that can help farmers when extreme weather conditions keep them from planting their expected crops. For rice, the RMA's final planting date is May 25, with the late planting date ending June 9. "I think the story of prevented…

Ashley Hinson in downtown Cedar Rapids, interrupting the congresswoman as she spoke about her efforts to ban members of Congress and staff from using insider information to trade stocks and bet on prediction markets. The disruptions occurred inside the Veterans Memorial Building as Hinson addressed supporters alongside Republican Iowa Secretary of…

Kevin Warsh was sworn in May 22 for a four-year term as chair of the Federal Reserve, a role that will grant him outsized influence over interest rates and the direction of the U.S. economy. The 56- year-old former finance executive and adviser to President George W. Bush previously served on the Fed's board of governors from 2006 to 2011— when the central bank had to…

California is not about to waive the state gas tax, or provide health insurance for everybody with money we don’ t have, or lower rates for electricity or insurance. The Democrats who were the most serious, or who spoke the toughest love, either got out of the race or are polling badly. Newsom is more popular than President Donald Trump, whose 24% approval rating in…

Another year without a major hurricane could ease the strain that high home insurance rates have placed on homeowners; early predictions say that could be the case, Insurance.com reports. The National Oceanic and Atmospheric Administration has released its prediction for a below-average hurricane season in 2026, which is in line with predictions from the…

In a recent Quinnipiac poll about personal financial concerns, voters cited health care costs as No. 1.. Unfortunately, these challenges are likely to worsen for the 3.46 million Hoosiers who get their insurance through their job because of Indiana Senate Bill 189. Congress intended that process to be a limited, last-resort mechanism to settle out-of-network…

This article is the first installment in a two-part series on enrolling in Medicare. For a comprehensive understanding of the enrollment process, please refer to the following month's issue of this publication, which will feature Part 2 and provide detailed guidance on how to enroll in Medicare. Medicare is a federal health insurance program primarily for…

A measure of inflation closely watched by the Federal Reserve accelerated in April to a three-year high, reinforcing the central bank's budding support to consider raising interest rates if price pressures do not ease. It was the fastest annual pace since May 2023, when the Fed was in the midst of raising rates to tame a burst of inflation that had emerged in the…

The following information was released by the American Heart Association:. The American Heart Association highlights stalled progress, critical need to expand access to affordable, quality health care. Nancy Brown, chief executive officer of the American Heart Association, a global force changing the future of health for all, issued the following statement:.