All the headlines from our AM Best Topic Page, ordered by recency.
Mar 25 2020 // Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak still could be significant,...
Mar 24 2020 // The Providence Mutual Fire Insurance Co. has been dealt a financial strength rating downgrade from A.M. Best.A.M. Best said its decision to downgrade the insurer’s financial strength rating to “B++”...
Mar 18 2020 // Ratings firm AM Best said it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels,...
Mar 18 2020 // In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, according to a recent...
Mar 10 2020 // Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report.Underwriting income hit $4.1 billion in 2019, from a loss of $800 million in...
Mar 10 2020 // AM Best has downgraded the Financial Strength Rating (FSR) to B- (Fair) from B (Fair) and the Long-Term ICR to “bb-” from “bb” of Echelon Property & Casualty Insurance Co., based in Chicago.AM...
Mar 9 2020 // AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of IRB Brasil Resseguros S.A.The rating actions follow the...
Mar 9 2020 // Outlooks for Iowa’s Midwest Family Insurance Group Revised to PositiveAM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer...
Mar 4 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to SFM Mutual Insurance Co. and its affiliates, SFM Safe Insurance Co. and SFM Select Insurance...
Mar 4 2020 // Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best...
Mar 2 2020 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Iowa-based Midwest Family Mutual Insurance...
Feb 27 2020 // Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from AM Best.The Bermuda-based specialty insurer and reinsurer had its long-term...
Feb 24 2020 // Anticipated reinsurance rate increases for Florida-specific property insurance companies in the upcoming June 2020 renewal period potentially could pressure the more thinly capitalized companies in the market, according to...
Feb 21 2020 // Healthcare liability insurer ProAssurance Corp. has agreed to acquire medical professional liability insurer NORCAL Mutual Insurance Co. following NORCAL’s demutualization in a $450 million transaction.Based on...
Feb 11 2020 // Workpartners, which is part of UPMC Insurance Services, has retained its financial strength rating of A- (Excellent) with a stable outlook from A.M. Best.The A- (Excellent) rating with a stable outlook applies to UPMC...
Feb 11 2020 // Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As...
Feb 10 2020 // Although workers’ compensation results remain strong — and the line continues to outperform all other commercial insurance lines — worries about continued soft pricing and loss reserve levels for...
Feb 7 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Trisura Insurance Co. (TIC), based in Oklahoma City.The outlook assigned to these ratings is...
Feb 5 2020 // 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” of Amerisure Mutual Insurance Co.(Amerisure...
Feb 4 2020 // AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of Texas-based National Lloyds...