Regulation & Compliance
Coronavirus Fallout Leads to A.M. Best Outlook Downgrade for U.S. Commercial Insurers
U.S. commercial lines insurers must now carry an outlook downgrade from A.M. Best due to fallout from the coronavirus pandemic. The decision by A.M. Best to revise its outlook for the segment to ...
Marsh Will Grab Broker Assurance for an Undisclosed Price
Marsh, a global insurance broker and risk adviser, said it is acquiring Assurance, an Illinois-based full-service brokerage. The transaction is taking place through Marsh & McLennan Agency LLC, ...
A Longer Coronavirus Crisis Creates Greater Underwriting Loss Uncertainty: Fitch
North American property/casualty insurers will likely face increasing coronavirus-related financial challenges as the pandemic crisis drags on, Fitch Ratings said in a new report. "Claims experience ...
Most P/C Insurers Will Weather Ongoing COVID-19 Storm: Standard & Poor’s
Most P/C insurers will be able to weather any financial market volatility and higher claims relating to COVID-19, S&P Global Ratings predicts in a new report, though it warns some carriers with ...
APCIA Asks Regulators for More Coordination on COVID Data Calls
Delivering remarks about the property/casualty insurance industry's response to the growing impacts of COVID-19 on policyholders late last week, an industry group executive called on the NAIC to ease ...
Fitch Revises Global Re ‘Sector’ Outlook to Negative; Rating Outlook Stable
On Friday, Fitch Ratings announced a dimmer "sector outlook" for global reinsurers—changing it to negative from stable, pointing to increased concerns over COVID-19. Rating agencies like Fitch ...
How Silence May Impact Commercial Insurers on COVID Cover
Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an InsurTech that specializes in analyzing insurance policy language suggested recently, explaining ...
Providence Mutual Is Dealt an A.M. Best Financial Strength Rating Downgrade
The Providence Mutual Fire Insurance Company 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 ...