The company’ s balance sheet strength assessment also reflects its prudent reserving approach, well-diversified investment portfolio and comprehensive retrocession protection covering its local and international portfolios, further supported by the Consorcio de Compensación de Seguros in Spain. Despite losses from Storm Filomena in Spain and…
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AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of“ aaa” for the members of Government Employees Group. AM Best also has affirmed the Long-Term ICR of“ aaa”, as well as the Long-Term Issue Credit Rating of“ aaa” on $150 million 7.35% senior unsecured debentures, due 2023, of the immediate parent holding company, GEICO…
–Fannie Mae announced today that it has executed its eleventh and final Credit Insurance Risk Transfer™ transaction of 2022. As part of Fannie Mae's ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, CIRT 2022-11 transferred $343 million of mortgage credit risk to private insurers and reinsurers.
Pichard Insurance Agency is a leading insurance agency offering a variety of business insurance policies, including commercial liability insurance in Crawfordville and Monticello, Florida. With years of experience and the highest level of expertise in business insurance, Pichard Insurance Agency can help one find the right policy to suit their needs.
November’ s Best’ s Review includes exclusive AM Best data on top homeowners insurers, workers' comp insurers and more:. US Homeowners Multiple Peril— 2021 Top Writers US Homeowners Multiple Peril— Top Writers by State, Canada and US Territories— 2021 Florida Homeowners Multi-Peril Filings by Rate Impact Greater Than 10% US Workers' Compensation US…
The Missouri Department of Insurance issued the following news release:. The 6.4 percent decrease in loss costs between Jan. 1, 2022 and Jan. 1, 2023 is driven by data collected on an annual basis showing a steady decline in lost-time claim frequencies. "Safer work places and improved risk management are the two main factors driving rates down for Missouri…
–In response to the North Carolina court decision to liquidate Colorado Bankers Life Insurance and Bankers Life Insurance, two Global Growth-affiliated insurance companies, Global Growth CEO Justin Holbrook issued the following statement:. "We deeply disagree with the North Carolina Department of Insurance decision to liquidate these companies— and…
Back in March, the BDA was proud to hold the first in-person risk event in Bermuda since the start of the pandemic. The immediate economic impact of the 2022 event, which had a total of 350 delegates, including lodging, transportation, food and beverage, retail and recreation was estimated at over one million dollars, and supported around 200 jobs, not including the…
WASHINGTON, Nov. 22– The Mortgage Bankers Association issued the following statement on Nov. 21, 2022:. MBA's President and CEO Bob Broeksmit, CMB, issued the following statement on the Department of Housing and Urban Development's final rule on the acceptance of private flood insurance for Federal Housing Administration- insured mortgages.
Bloomberg News says the brokerage, which was exposed to FTX, warned investors it could file for bankruptcy if it can't raise fresh cash. Bloomberg News reports that the firm has warned investors that it might file for bankruptcy if it does not quickly find fresh cash. But a spokesperson for Genesis tells TheStreet that the Bloomberg News article is not accurate…
As cryptocurrency exchange FTX falls into bankruptcy and its principals seem likely to face various criminal charges over the activities leading to that bankruptcy, it's time for another round of crowing from opponents of cryptocurrency. That is, older investors in FTX and related enterprises such as trading firm Alameda Research seem to have been paid…
FG Financial Group, Inc., today announced the formation and initial funding of FG Communities, Inc. in partnership with Fundamental Global ®. FG Financial is a reinsurance and asset management holding company focused on collateralized and loss capped reinsurance and merchant banking that allocates capital in partnership with Fundamental Global ®, a…
Annual or open enrollment season is here- a time when more than 3,327,900 people in Utah and millions of Americans across the country will have the opportunity to select or switch their health insurance plan for the coming year. Medicare members can enroll or make changes to coverage from Oct. 15 through Dec. 7. Here are seven tips to help in choosing a health plan…
If you receive Social Security, you've probably already heard that your checks in 2023 will be bigger– considerably bigger, in fact. Here's what's happening: For 2023, there's an 8.7 percent cost-of-living adjustment for Social Security benefits– the largest increase in 40 years. Also, the monthly Medicare Part B premiums are declining next year, to $164.90/…
Congress approved in August a $35 cap on what seniors will pay for insulin as part of the Inflation Reduction Act, along with free vaccines and other Medicare improvements. The Centers for Medicare& Medicaid Services provided initial details of the opportunity in a document distributed to the State Health Insurance Assistance Program, or SHIP, which assists…
That’ s because tax rates on Social Security benefits are not changing with inflation. Taxing Social Security benefits began in 1984 as part of a sweeping reform of the system. You are hitting the middle earner, even people with modest incomes,” said Mary Johnson, Social Security and Medicare policy analyst at the nonpartisan Senior Citizens League.“ It’ s really…
Newly released federal audits reveal widespread overcharges and other errors in payments to Medicare Advantage health plans, with some plans overbilling the government more than $1,000 per patient a year on average. Officials at the Centers for Medicare& Medicaid Services have said they intend to extrapolate the payment error rates from those samples…
Kathy Hochul on Monday directed the Department of Financial Services to issue temporary adjuster permits to qualified out-of-state independent insurance adjusters, in order to expedite insurance claims in light of the winter storm impacting the Buffalo and Watertown areas. Insurers are encouraged to make any necessary applications on the Department…
Gregory Strasser never fixed his busted cellphone, so his sister's daily telephone calls from New Jersey were to the landline in his Fort Myers Shores home. Worried about his declining health, his sister, Janet Link, tried to convince him to evacuate to a shelter. "At that point, the storm was already starting, and I think he was afraid to do it," Link, 65, said from her New…
