US cyber insurance premiums surged 50% in 2022 as increased ransomware attacks and online commerce drove demand for coverage. Premiums collected from policies written by insurers reached $7.2 billion in 2022 and tripled in the past three years, ratings firm …
AM Best downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” (Good) from “a-” (Excellent) of Farm Bureau Mutual Insurance Company of Arkansas Inc. The outlook of the FSR was …
Buyers of directors and officers liability may be getting a break from steep rate and price increases seen over the last several years, but insurance industry rating agency AM Best said it remains to seen how long the reprieve can …
Despite the reversal seen in the U.S. equity market and rising inflation and interest rates, P/C insurers performed well in 2022, according to the latest report on the long-term impairment rates of AM Best-rated, U.S.-domiciled insurance companies. The report, Best’s …
At-Bay said insurance industry rating agency AM Best has assigned At-Bay Specialty Insurance Company a financial strength rating of A- (Excellent). At-Bay Specialty Insurance Company is a Delaware-domiciled excess and surplus (E&S) lines property and casualty (P&C) carrier, acquired by …
Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best report. In addition to the five Louisiana-domiciled companies and two …
AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of R&Q Insurance Holdings’ three wholly owned program management subsidiaries: Accredited Surety and Casualty Co. …
Although the pandemic may appear more distant in the rearview mirror, its lasting impact on the personal auto insurance industry may be larger than initially expected. Private passenger automobile insurance is the largest segment of the U.S. property/casualty insurance industry, …
The pandemic kickstarted the new wave of accepting and using innovative systems and methods in the insurance industry. It opened eyes to the ways that innovations and technology could do more than just efficiently get the work done. While the …
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Northern Neck Insurance Co. of Irvington, Virginia. AM Best said the …
