Insurance News

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has removed from under review with negative implications and affirms the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of The Northern Neck Insurance Company (NNIC) (Irvington, VA). Concurrently, AM Best has assigned an FSR of A- (Excellent) and a Long-Term ICR of “a-” (Excellent) to Frederick Mutual Insurance Company (Fredrick) (Frederick, MD). The outlook assigned to these Cr...

OLDWICK, N.J.--(BUSINESS WIRE)--Strong U.S. annuity sales have shifted the reserve profile for many U.S. life/annuity companies, with asset risk forming a greater share of required capital composition in AM Best’s capital model, Best’s Capital Adequacy Ratio (BCAR), and leading to weaker scores for some life/annuity companies. At the same time, according to a new report, BCAR scores have shown to not always correlate with the end-result balance sheet assessment, highlighting the impact of other...

SUNNYVALE, Calif.--(BUSINESS WIRE)--Mulberri, the AI operations platform for underwriting, and Omnyy, a London-based managing general agent specializing in SME and commercial risks for UK-domiciled businesses, today announced a strategic partnership to improve how Omnyy underwrites and manages its book of business. “We're seeing more MGAs and carriers hit a point where growth outpaces the systems underneath them,” said Hamesh Chawla, CEO of Mulberri. “Omnyy decided to get ahead of that by prior...

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Kerper and Bowron LLC today announced that its patent-pending Kerper Bowron Method, a groundbreaking innovation for service contract and extended warranty accounting, has been formally published in the journal Risks (MDPI), a peer-reviewed international actuarial journal, and was featured in Business Alabama, the state's leading business publication. The back-to-back recognitions mark a turning point for the Birmingham-based firm, which introduced the method p...

CHICAGO--(BUSINESS WIRE)--Point C has expanded its national footprint through the strategic acquisition of Coastal Administrative Services....

NEW YORK--(BUSINESS WIRE)--OpenVC launches new crossover benchmark, brings together the largest public and venture-backed private companies in a single, transparent index....

TORONTO--(BUSINESS WIRE)--Securian Canada, a leading insurance provider of innovative and life-ready insurance solutions in Canada, is pleased to announce the appointment of Marc Peliel as Chief Financial Officer. In this role, Peliel will oversee the finance and actuarial departments, leading a multi-disciplinary team to reinforce Securian Canada’s financial strategy and accelerate momentum. “Marc joins us at an exciting time in our journey as we continue to scale our business with discipline,...

PARSIPPANY, N.J.--(BUSINESS WIRE)--Summit Financial, LLC (“Summit”), a preeminent financial planning and wealth management firm with over 43 years of experience providing market-leading technology, financial planning, insurance and wealth management services that help clients achieve their financial goals, today announced that Joseph W. Spada, CFP® has been named the firm's 2025 Leading Financial Advisor for an unprecedented 28th consecutive year. Spada's consistent recognition as a leading fin...

MONROEVILLE, Pa. & TAMPA, Fla.--(BUSINESS WIRE)--CARS Protection Plus, a provider of vehicle service contracts, today announced it has gone live with Circuitry.ai’s Warranty Decision Intelligence platform to support faster, more consistent claims decisions and improve communications with repair facilities. Implemented in under three months, the platform is integrated with PCMI’s PCRS, CARS Protection Plus’s claims administration system, so adjusters can access AI-powered decision support inside...

MORRISTOWN, N.J.--(BUSINESS WIRE)--Majesco, a global leader of cloud and AI-native insurance software for P&C and L&AH insurers, today announced the release of its latest annual consumer research report, Closing the Insurance Protection Gap: How Generational Differences in Risk, Readiness, and Coverage Are Redefining Insurance Business Value. The report uncovers a growing disconnect between how consumers perceive risk and how prepared they feel, highlighting significant protection gaps...