A New Jersey judge granted another extension Friday to give AM Best and two life insurers more time to finalize an agreement to end a lawsuit over negative ratings. Atlantic Coast Life Insurance and Sentinel Security Life Insurance want to stop AM Best from downgrading their financial strength ratings, which would drop from B++ to
Experts at the reinsurance broking arm of Marsh McLennan (MMC), Guy Carpenter, have said that while business interruption losses will be in scope for re/insurers, the magnitude of last week’s global IT outage suggests that lines of insurance beyond cyber risk might also be impacted. After a software update for CrowdStrike’s Falcon Sensor product caused
Vice President Kamala Harris’s past support for “Medicare for all” places her well to the left of President Joe Biden and is likely to prove a liability for her as she seeks to win the 2024 presidential race. As senator from California, Harris supported Sen. Bernie Sanders’s (I-VT) Medicare for all plan, which would have
from Pennsylvania Insurance Department Photo courtesy of Alexander Grey on Unsplash Pennsylvania Insurance Commissioner Michael Humphreys announced on Thursday, July 18, that the Pennsylvania Insurance Department (PID) has saved consumers $98.3 million in annual property and casualty (P&C) insurance premiums in the first six months of 2024 through its review of insurance company rate filings. This initiative upholds the Shapiro Administration’s continued
This is a terrible time to advocate for increasing property insurance rates along the Gulf Coast, akin to punching someone right after he’s been hit by a bus. Hundreds of thousands of coastal residents struggled with no electricity and major storm damage after Hurricane Beryl made landfall on July 8. But it’s true: Many property
QDM International (OTCMKTS:QDMI – Get Free Report) and The Baldwin Insurance Group (NASDAQ:BWIN – Get Free Report) are both medical companies, but which is the superior business? We will contrast the two businesses based on the strength of their analyst recommendations, profitability, risk, institutional ownership, valuation, dividends and earnings. Profitability This table compares QDM International
As more frequent extreme weather events, induced by climate change, are expected to become the “new norm”, insurers need to develop innovative insurance products that can effectively respond to these risks, she said. FILE PHOTO: A drone view shows flooded areas along an overflowing river following heavy rainfall in Pingjiang county of Yueyang, Hunan province,
Auto theft is driving insurance rates higher — not just for consumers but auto dealers as well. The thefts are impacting not only auto dealers in Michigan but dealerships nationwide as well, an issue National Automobile Dealers of Metro Detroit and the Michigan Auto Dealers Association are facing head on. We see the seriousness of
Otonomi, a managing general agent (MGA) insurtech startup offering parametric insurance for supply chain disruptions, is building on a $3.4 million capital investment in September 2022 to further develop its offerings and add to the distribution modes it covers. ATX Venture Partners, Bering Waters Ventures, Greenlight Re Innovations, and GSR Ventures made the initial investment,
Louisiana is buried so deep under the current property insurance crisis that it’s possible to forget that flood insurance remains a daunting challenge as well. U.S. Sen. Bill Cassidy took to the Senate floor recently to remind his colleagues of this. We’re glad he’s keeping a spotlight on the issue and working to wrangle a