AM Best has revised the outlooks to negative from stable of Loudoun Mutual Insurance Co. of Waterford, Virginia based on the “deterioration in Loudoun’s underwriting and operating performance” in recent years and corresponding “decline in overall risk-adjusted capitalization.” At the …
AM Best Revises Outlooks to Negative for Virginia’s Loudoun Mutual Insurance Co. Read More »
Specialty insurer NSM Insurance Group said it has completed the sale of its U.S. commercial insurance division to investment firm New Mountain Capital. The agreement includes NSM’s portfolio of 15 niche insurance programs across property/casualty, accident & health, and reinsurance—as …
China is banning automakers from using the terms “smart driving” and “autonomous driving” when they advertise driving assistance features, and it will tighten scrutiny of such technology upgrades. The mandate on vehicle advertising was delivered by the Ministry of Industry …
China Bans ‘Smart’ and ‘Autonomous’ Driving Terms From Vehicle Ads Read More »
UK fraud cops have charged an insurance broker with bribery, after a four-year probe into alleged corruption involving state-run insurance contracts in Ecuador. The Serious Fraud Office accused United Insurance Brokers Ltd. of failing to prevent associates from bribing state …
Lloyd’s Broker Charged Over Alleged Ecuador Bribes Read More »
Healthcare organizations continue to find themselves at the forefront of cyber risk. Exposures such as IT supply chain dependencies, website tracking litigation, ransomware attacks, new security regulations, and data breach class actions put healthcare organizations of all sizes at high …
Viewpoint: A Favorable Prognosis—Healthcare at the Forefront of Cyber Risk Read More »
U.S. officials will extend support for 11 months for a database of cyber weaknesses that plays a critical role in fighting bugs and hacks, a spokesperson said on Wednesday, just as the funding was due to run out. The expected …
In Last-Minute Reversal, US Agency Extends Support for Cyber Vulnerability Database Read More »
Wildfire losses obscured what executives of Travelers described as outstanding underlying results for the insurer’s first quarter—and looking ahead, the company is well-positioned to face the impacts of macroeconomic uncertainty, the chief executive said. During a first-quarter earnings conference call …
Potential Tariff Auto Severity Impact on Travelers: Single-Digits or Less Read More »
A North Carolina House of Representatives committee voted Wednesday to do away with educational course requirements for insurance agent licenses, a move that could help address what has been called a shortage of producers in the state. “It’s a 40-hour …
NC Committee Approves Bill to End Education Requirements for Insurance Agents Read More »
It was once known as Anchor Property & Casualty Insurance Co., based in St. Petersburg, Florida, and launched in 2014. Then it was known as another Florida carrier that had slipped into financial troubles and was placed into an orderly …
Florida’s Anchor Insurance is Reborn as Patriot Select With $29M in Capital Read More »
New York State’s Inspector General said her office identified $2.7 million in workers’ compensation fraud in 2024, a nearly 30% increase compared to 2023. Inspector General Lucy Lang also reported there were 14 arrests for workers’ compensation fraud, also a …
New York Inspector Uncovered $2.7 Million in Workers’ Compensation Fraud in 2024 Read More »
