AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) of New York Schools Insurance Reciprocal (NYSIR) in (Uniondale. The outlook of these …
A South Florida city has reached a $2 million settlement with the family of a Black motorist who was fatally shot by a police officer after his vehicle broke down on an interstate off-ramp more than seven years ago. The …
The growing pace and sophistication of cyberattacks on U.S. public finance entities has led to rising costs and challenges in acquiring robust cyber insurance coverage. Fitch Ratings says public entities are increasingly required to undergo stringent security audits and adherence …
U.S. taxpayers will be on the hook for damage from a mob attack on the U.S. Capitol in Washington on Wednesday because the building and grounds are not insured, industry sources said. Supporters of Republican President Donald Trump angry at …
U.S. insurers and brokers are starting to craft professional liability coverage for police officers, spurred on by signs that policymakers in some cities and states want to use a financial stick to curb police misconduct. They see a potential market …
Some of the world’s largest insurers are eagerly pitching cities, states and even school districts on policies designed to pay out quickly with few questions in the event of extreme weather. The catch: Even a hurricane might not be extreme …
Officials in Adams County, Mississippi are expecting an insurance policy to cover the $165,000 allegedly embezzled from its juvenile justice center. Board of Supervisors Attorney Scott Slover tells The Natchez Democrat the insurance should cover 100 percent of the loss. …
Burlington, Vermont’s largest city, has purchased an insurance policy for protection against potential lawsuits in connection with its airport. While exploring the legal possibility of banning F-35 fighter jets from the Burlington International Airport, city attorney Eileen Blackwood discovered Burlington …
A western Pennsylvania man who claimed a police officer used a stun gun on him while he was handcuffed was paid $225,000 by a borough’s insurance carrier to settle a lawsuit. The lawsuit was filed in July on behalf of …
Stockton, Calif. and Assured Guaranty have reached an agreement to restructure more than $150 million of outstanding debt to help the city exit from bankruptcy, a top city official and the bond insurer said. Under the terms of the agreement, …
