November 13, 2020
The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many expecting a sizable increase in claims, according to a new AM Best report. With its Best’s Special Report, “Professional Liability …
October 22, 2020
AM Best said its estimates of $100 billion in asbestos losses and $46 billion in environmental losses for the U.S. property/casualty industry remain unchanged as of year-end 2019. In a report, AM Best notes that A&E loss reserves have declined …
October 22, 2020
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Golden Bear Insurance Co. in Stockton, Calif. The outlook of these ratings has been revised …
October 20, 2020
AM Best has removed from under review with negative implications and affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” and the Long-Term Issue Credit Ratings (Long-Term IR) of Hallmark Financial Services Inc. (Hallmark Financial), headquartered in Dallas. Concurrently, …
October 15, 2020
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” from “a-” of Arbella Mutual Insurance Company and its three pooled insurance entities, Covenant Insurance Company in Farmington, …
September 30, 2020
Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing the capital of the industry. The COVID-19 crisis has renewed attention on these risks, which could also include a global …
September 15, 2020
Insurers and observers are weighing in on the ruling by a London court in a test case brought by Britain’s Financial Conduct Authority (FCA) to clarify insurance coverage for COVID-19 related business interruption claims. The FCA says the court brought …
September 14, 2020
The tailwinds propelling the global reinsurance sector are sufficient impetus for the ratings agency AM Best to retain its stable outlook for the reinsurance industry, despite multiple challenges. During a virtual press briefing on Sunday, the ratings agency described the …
August 6, 2020
The devastating explosion at the Beirut’s port on Tuesday, Aug. 4 caused many casualties and considerable damage, but local insurance penetration rates in Lebanon generally are low, said AM Best in a market commentary. For the international market, however, marine …
July 17, 2020
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of Dallas-based National Lloyds Insurance Co. (NLIC) and American Summit Insurance Co. (ASIC), …