Industry News

Best's Reviews

AM Best: Eurozone Inflation on Track Despite Inflationary Impact of Houthi Disruption

Mar 28, 2024 Some inflationary impacts on goods in Europe are likely due to escalated shipping risks in the Red Sea from continued...

AM Best Downgrades Credit Ratings of Members of GPM Life Group

Mar 28, 2024 AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+” (Good) from “a...

Best's Review’s Most Popular Stories: AI’s Predictive Powers and More

Mar 28, 2024 In the last 90 days, Best’s Review readers have been most interested in the following stories: In “Institutes: AI’s Predictive Powers...

AM Best Revises Issuer Credit Rating Outlook to Positive and Assigns National Scale Rating to Hanoi Reinsurance Joint Stock Corporation

Mar 28, 2024 AM Best has revised the outlook to positive from stable for the Long-Term...

Insurance Journal

Yellen Sees Insurance Payouts Helping Fund New Baltimore Bridge

Mar 28, 2024 Treasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this...

Berkeley to Halt Ban on Natural Gas Piping in New Buildings

Mar 28, 2024 The city of Berkeley, California, has agreed to halt enforcement of a ban on natural gas piping in new homes and buildings that was successfully opposed in court by the...

UK Court Rules That $10 Billion Jet Dispute Should Be Heard in London, Not Moscow

Mar 28, 2024 A $10 billion battle between reinsurers and aircraft leasing companies seeking payouts for more than 200 jets stuck in Russia should be...

Boston Settles Wrongful Death Suit Over Police Shooting of Mentally Ill Man for $4.6M

Mar 28, 2024 The city of Boston will pay about $4.6 million to settle a wrongful death lawsuit stemming from the police killing of a mentally ill man in 2016...

Claims Journal

J&J to Pay $75 Million to Settle Mississippi’s Baby Powder Suit

Mar 28, 2024 Johnson & Johnson will pay $75 million to resolve a consumer protection lawsuit filed by Mississippi over the company’s failure to add a safety warning...

Louisiana’s Temple Seeks Reform in Response to State Farm’s California Exit

Mar 28, 2024 Louisiana Insurance Commissioner Tim Temple pointed to State Farm’s withdrawal from the California market as a warning for lawmakers to modernize...

Subaru Recalls 118,000 US Vehicles Over Faulty Air Bag Sensors

Mar 28, 2024 Subaru is recalling 118,000 SUVs and sedans in the United States to address a faulty sensor that can prevent air bags from deploying in a crash, the National Highway...

More Than Half of Homeowners Fear Climate Change, Most Worry About Rising Home Insurance Costs

Mar 28, 2024 Homeowners are increasingly worried about hazards and rising insurance costs as temperatures rise in the U.S. A survey of nearly 2,000...