Wildfires may have destroyed as many as 500 structures in the Texas Panhandle, Republican Gov. Greg Abbott said Friday, describing how the largest blaze in state history scorched everything in its path, leaving ashes in its wake.
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IIHS Challenges Automakers with Tougher Top Safety Pick Award Criteria
The Insurance Institute for Highway Safety is making it harder to earn its Top Safety Pick and Top Safety Pick+ awards in 2024, challenging manufacturers to offer better protection for back seat passengers and improve their pedestrian crash avoidance systems.
American National Exits Homeowners in Nine States, Including Louisiana, California
American National plans to exit homeowners insurance business across nine states from the South to the West Coast.
Spike in AM Best Downgrades Shows Challenges for U.S. Insurers
Gallagher Re’s comprehensive analysis focuses on key highlights regarding AM Best rating changes in the US and the financial thresholds associated with the changes.
Maryland Announces $238M in New Opioid Settlements
Maryland has reached settlements with Walgreens, Walmart and two opioid manufacturers that are expected to add $238 million to its efforts to fight the opioid crisis over the course of 15 years.
Amwins Purchases Wholesale Business from BRP Group, Inc.
Amwins, a global distributor of specialty insurance products and services, announced it signed a definitive agreement to acquire Connected Risk Solutions, LLC, the wholesale E&S insurance brokerage operated by publicly traded insurance distribution firm BRP Group, Inc.
State Farm Suffers $6.3B Net Loss in 2023 Amid ‘Significant’ Boost in Catastrophic Claims
State Farm recorded a net loss of $6.3 billion in 2023 due in part to what the company said was a ‘significant” increase in the severity of damage claims from homeowners’ insurance policyholders.
Distinguished Programs Partners with HUB as Preferred Insurance Provider for the Association of Midwest Museums
Distinguished Programs, a leading insurance program manager, is excited to announce a new partnership agreement with HUB International to act as the preferred provider for the Association of Midwest Museums (“AMM”).
Report: U.S. Health Insurers Expected to Remain Resilient Amid Challenges in 2024
Capitalization levels for U.S. health insurers will continue to grow this year, but earnings are expected to narrow as profitability from government programs such as Medicaid managed care and Medicare Advantage return to more normal levels, according to a new AM Best report.
Verita Announces Two Strategic Hires
Verita, a visionary Managing General Underwriting (MGU) company, announced today that Victor Sordillo and Glen O’Connor have joined the organization.