AM Best News

D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment

Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best concluded in a new report. “We …

Outlooks Revised to Positive for Iowa’s Midwest Family Insurance Group

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Iowa-based Midwest Family Mutual Insurance Co. and its wholly owned subsidiary, Midwest …

Pennsylvania’s Workpartners Maintains Excellent Rating from A.M. Best

Workpartners, which is part of UPMC Insurance Services, has retained its financial strength rating of A- (Excellent) with a stable outlook from A.M. Best. The A- (Excellent) rating with a stable outlook applies to UPMC Workers’ Compensation Group, which includes …

Issuer Credit Ratings of Michigan’s Atain Insurance Companies Downgraded

AM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” from “a+” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Farmington Hills, Mich.-based Atain Specialty Insurance Co. and Atain Insurance Co., collectively referred to …

Best’s See Limited Non-Life Insurance Losses in China From Coronavirus Epidemic

Rating firm AM Best said it expects that China’s non-life insurance market will experience limited losses from the ongoing coronavirus outbreak. The analysts based their outlook on factors including the central government’s announcement to undertake all medical expenses related to …

AM Best Downgrades Issuer Credit Rating of Crusader in California

AM Best has downgraded the Long-Term Issuer Credit Rating to “bbb” from “bbb+” and affirmed the Financial Strength Rating of B++ (Good) of Crusader Insurance Co. The outlook of the Long-Term ICR has been revised to stable from negative while …

Outlooks Revised to Negative for Michigan’s Amerisure Mutual Insurance, Affiliates

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Amerisure Mutual Insurance Co. (Amerisure Mutual), Amerisure Insurance Co. and Amerisure Partners …

Brexit Impact on UK Insurers Dictated by Trade Talks, Possible Economic Hit: AM Best

From an operational point of view, the United Kingdom’s departure from the European Union on Jan. 31, 2020 will have little immediate impact on AM Best-rated insurers in the UK or EU, according to the ratings agency in a new …

U.K. P&C Insurers Face Strong Competition, Claims Inflation: AM Best Report

Market conditions for U.K. non-life insurers were difficult in 2019 as they continued to face strong competition and claims inflation, according to a report published by AM Best. Companies have had to contend with changes in the discount rate — …

Outlooks to Revised to Stable for Missouri Valley Mutual Insurance

AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Missouri Valley Mutual Insurance Co. (Missouri Valley) in Burke, South Dakota. Missouri …