Regulation & Compliance
AM Best Revises Outlooks to Negative for Amica Mutual
Insurance rating firm AM Best has revised the outlooks to negative from stable and affirmed the superior credit ratings of Amica Mutual Insurance Co. and its subsidiary, Amica Property and Casualty ...
After 18 Straight Years, Favorable Loss Reserve Development Streak Could End
In a new article published late last week, Fitch Ratings noted the prospect that 2024 could mark the end of a run of almost two decades of aggregate loss reserve releases for the U.S. ...
When Higher Pricing <> Underwriting Profit or Double-Digit Returns
In spite of premium increases that primary insurance carriers will record for 2023, the U.S. property/casualty industry as a whole won't report an underwriting profit or a double-digit return for the ...
More P/C Carriers With Less Surplus: Aon Ward Analysis
As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a ...
No Sugarcoating: Availability Before Affordability, Calif. Regulator Says
If the old adage "As California goes, so goes the nation" is true, then 2024 will be another year of industry retooling as insurers and regulators set a path for the future of the U.S. P/C property ...
Saying Goodbye to 2023: When Will California’s Insurance Crisis End?
"Sorry, America, Your Insurance Has Been Canceled" The words were printed on an iconic Time magazine cover from 1986 depicting a bolt of lightning striking a distant American flag positioned at the ...
AM Best Revises James River Group Outlook to Negative
AM Best has revised the outlook for James River Group Holdings Ltd and most of its subsidiaries and has downgraded the credit ratings of JRG Reinsurance Company. The ratings agency has revised the ...
Title Insurer Reports Another Cybersecurity Event; Fitch Monitoring Ratings
Less than a month after New York insurance regulators said a title insurer would pay $1 million for violations of a cybersecurity regulation stemming from a 2019 breach, the holding company for the ...