On Monday, A.M. Best Co. placed the “A-minus” financial strength rating of pooled and reinsured members of the Tower US Pool (Tower) under review with negative implications. The Oldwick, N.J.-based rating agency took the same action with respect to issuer …
A.M. Best Co. announced it has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to “bb” from “bbb-” of workers’ compensation insurer LEMIC Insurance Co. (LEMIC) of Baton Rouge, La. Both ratings have …
Insurance rating firm A.M. Best on Monday raised to $85 billion its estimate for losses that U.S. property/casualty insurers can ultimately expect from lawsuits brought by victims of asbestos exposure. Best, the major rater of insurance companies, raised its estimated …
The troubled workers’ compensation line of business got a break in 2011 as employment and payrolls stabilized and overall net premiums written increased by 10 percent, according to an A.M. Best report. Overall underwriting results for the aggregated workers’ comp …
Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best Co. The estimated total net pretax accident-year catastrophe-related losses …
This year’s increased number of weather-related catastrophes could lead to a reduction in available experienced catastrophe adjusters should additional disasters occur, and produce increased litigation against adjusters, according to a recent panel discussion on the subject organized by A.M. Best. …