AM Best said it expects insured losses from Hurricane Fiona in Puerto Rico to be influenced by business interruption caused by widespread power outages but losses should be manageable for the industry. “It could take some time for claims adjusters …
The heightened perception of risk stemming from cyber attacks, the climate, pandemics and even inflation are just a few of the volatile factors fueling a demand-side need for more specialized coverage approaches, which underscores the premium growth prospects for the …
AM Best said it held the belief that the U.S. personal auto line would right the ship following weakening performance in 2021, but headwinds such as inflation remain too strong and the rating agency revised its outlook for the segment …
Total U.S. surplus lines direct premiums written (DPW) reached a record $82.6 billion in 2021, with momentum continuing through mid-year 2022, according to a new AM Best report. In the first six months of 2022, premiums topped $31 billion, and …
Growth in net premiums and a decline in policyholder dividends were eclipsed by losses and expenses to result in a $6.3 billion net underwriting loss for the U.S. property/casualty industry at the half-way mark of 2022. According to a special …
AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of American Reliable Insurance Co. in Scottsdale, Arizona. American Reliable is a …
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and AM Best. A summary of these new hires follows here. BHSI Hires Liberty Specialty’s Ferrari as Head of Transactional Liability in Australasia Berkshire Hathaway Specialty Insurance …
Just two weeks after the Demotech financial rating firm set off a firestorm of controversy by warning that it could soon downgrade as many as 17 Florida property insurers – then promised to hold off – the firm has now …
Premiums in the federal multi-peril crop insurance (MPCI) program surged in 2021 to a record high of $14.9 billion, an increase of nearly 40% over the previous year, according to an AM Best report. The new Best’s Market Segment Report, …
AM Best removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Golden Bear Insurance Co. headquartered in Stockton, California. The …
