The Cooper County Fair Board lost the $5,000 deposit it paid to a carnival company after the business abruptly shut down just one week before this year's fair. In a letter to clients, Amusement Associates representative Arthur McCarthy said liability insurance costs had risen to between $6,000 and $7,000 per event. Before the company shut down, the Cooper…
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Safety Insurance Group Inc., one of the leading property and casualty insurers in Massachusetts and across New England, today announced that it has entered into a definitive agreement under which an affiliate of Mapfre S.A. will acquire Safety in an all-cash transaction valued at approximately $1.54 billion. The transaction has been unanimously approved…
Selective Insurance Group, Inc. reported financial results for the second quarter ended June 30, 2026, with net income per diluted common share of $2.11 and non-GAAP operating income 1 per diluted common share of $1.95. Net investment income increased 18% from a year ago, to $119 million after-tax, generating 13.9 points of annualized ROE in the quarter.
Universal Insurance Holdings reported second quarter 2026 results. Strong retention and new business generation resulted in 4.1% direct premiums written growth, including growth in Florida and across our multi-state footprint.”. Thanks to the efforts of the Governor, the Legislature, and the OIR, the Florida homeowners insurance market has stabilized and…
AM Best has upgraded the Financial Strength Rating to A+ from A and the Long-Term Issuer Credit Ratings to“ aa-” from“ a+” of Delta Dental of California, and its affiliates, Delta Dental Insurance Company, Delta Dental of Pennsylvania and Delta Dental of New York, Inc.. These companies collectively are known as Delta Dental of California Group. Net premium growth has…
The Hartford today announced financial results for the second quarter ended June 30, 2026. In Personal Insurance, the underlying combined ratio improved 1.7 points, while growth was impacted by a competitive market. Second quarter 2026 net income available to common stockholders of $1.3 billion, or $4.68 per diluted share, improved from $990 million in…
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of“ aa-” of Top Layer Reinsurance Ltd.. These ratings continue to reflect the substantial amount of support Top Layer receives from its co-owners, State Farm Mutual Automobile Insurance Company, currently with an FSR of A+ and a Long-Term ICR of“ aa”, and Renaissance…
PENNSYLVANIA Ryan Mackenzie has touted his vote to advance Republicans' devastating healthcare cuts, and Pennsylvanians in the Lehigh Valley are already feeling the pain. New data shows that more than 13,000 of Mackenzie's constituents have already been forced to drop their coverage as Pennsylvanians across Lehigh, Northampton, Carbon, and Monroe…
PENNSYLVANIA Rob Bresnahan got rich inside trading on healthcare cuts he voted to advance, and NEPA is already feeling the pain. New data shows that more than 11,600 of Bresnahan's constituents have already been forced to drop their coverage as Pennsylvanians across Lackawanna, Luzerne, Monroe, Wayne, and Pike counties have seen their health insurance…
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of“ bbb+” and the Vietnam National Scale Rating of aaa.VN of Bao Viet Insurance Corporation. The outlook of these Credit Ratings is stable. The ratings also factor in rating enhancement from BVGI’ s parent, Bao Viet Holdings, a major finance and insurance group in Vietnam.
A bill backed by U.S. representatives from Texas would require more transparency from health insurance companies if it continues advancing through Congress. Craig Goldman, R- TX -12; August Pfluger, R- TX -11; Rob Wittman, R- VA -01; Jimmy Panetta, D- CA -19; Donald Norcross, D- NJ -01; and Kim Schrier, D- WA -08, passed in the House Energy and Commerce Committee on Wednesday.
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly 12 months, pushing up borrowing costs for prospective homebuyers at a time when rising oil prices are already squeezing household budgets. The benchmark 30- year fixed rate mortgage rate rose to 6.58% from 6.55% last week, mortgage buyer Freddie Mac said Thursday.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of“ aa-” of United Overseas Insurance Limited. In addition, UOI’ s ratings factor in rating enhancement from the company’ s ultimate majority ownership by, and importance to, United Overseas Bank Limited, a leading banking corporation in Asia. UOI’ s disciplined…
AM Best also has affirmed the Long-Term ICR of“ a” of Munich Re America Corporation. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings of American Alternative Insurance Corporation and The Princeton Excess and Surplus Lines Insurance Company. In addition, AM Best has withdrawn the rating of Munich Re America Corporation as the company has…
Despite rising healthcare costs for consumers and insurance companies alike, New Mexico residents aren’ t getting any healthier, experts told members of the Legislative Finance Committee on Wednesday. George Muñoz, a Gallup Democrat, to one conclusion:“ This whole system is wrong.… I see some real wrongs that I think need to be made right.”. Individual plans— sold on…
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of“ aaa” of New York Life Insurance Company, New York Life Insurance and Annuity Corporation, Life Insurance Company of North America, New York Life Group Insurance Company of NY and NYLIFE Insurance Company of Arizona. All companies are referred to as New York Life and…
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to“ a-” from“ bbb+” of Farm Mutual Reinsurance Plan Inc.. The outlook of these Credit Ratings has been revised to stable from positive. Established in 1959, Farm Mutual Re is the exclusive reinsurer for 42 members in Canada and accepts each insurer’ s entire…
As Tropical Storm Bertha moves across the Gulf toward Southeast Texas, CB Trial (Callender Bowlin) is urging homeowners, commercial property managers, and business owners to prepare for potential coastal flooding, heavy rain, and wind gusts. The litigation team at CB Trial offers critical tips on how property owners can prepare before the storm hits and how to safeguard insurance claims if damage occurs.
ReSource Pro, a trusted partner providing strategic operations and technology services for the insurance industry, today published its 2026 AI Lessons Learned Report, a first-hand account of how insurance organizations across the U.S. property and casualty insurance ecosystem are navigating the opportunities and pitfalls of artificial intelligence…
