Regulation & Compliance
AM Best Places Ratings of R&Q and Subsidiaries Under Review With Negative Implications
AM Best has placed under review with negative implications the Financial Strength Rating of "A-" (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of R&Q Insurance Holdings' ...
Florida Regulators Now Reviewing Rate Hikes of 14%, 62% and 103%
Three Florida insurance carriers, one large and two small, are seeking approval for major rate increases, with one condominium policy increase as high as 103 percent. Citizens Property Insurance ...
D&O Story for 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the ...
U.S. P/C Industry Underwriting Loss $20B+ Higher in 2022; Reserve Releases Fall
According to data compiled by AM Best, the U.S. property/casualty industry recorded a $26.5 billion net underwriting loss in 2022, $21.5 billion more than the $5 billion underwriting loss the rating ...
Root Discloses SVB Exposure; Lemonade Unaffected
The impact of the Friday's shutdown of Silicon Valley Bank on the insurance industry remained as unclear as the fallout for the rest of the tech industry for most of this weekend, but two publicly ...
U.S. Chamber of Commerce Calls for Regulation of AI
The U.S. Chamber of Commerce on Thursday called for regulation of artificial intelligence technology to ensure it does not hurt growth or become a national security risk, a departure from the ...
AM Best Downgrades SCOR Ratings
AM Best announced Thursday that it has downgraded the financial strength rating to "A" (excellent) from "A+" (superior) and the long-term issuer credit ratings to "a+" (Excellent) from "aa-" ...
2022 In Review: It Was Bad
The year 2022 is in the books for most U.S. property/casualty insurers as the days tick down to statutory filing deadlines. Putting the numbers together, AM Best revealed just how bad the aggregate ...