Patricia Wells

AM Best has put the financial strength and credit ratings of Louisiana Farm Bureau Mutual Insurance Company under review with positive signs. This move follows the announcement that Louisiana Farm Bureau and Southern Farm Bureau Casualty Insurance Company have agreed to a unique deal that will change how Louisiana Farm Bureau operates. In the deal, … Read more

The Fidelis Partnership, a managing general underwriter based in Bermuda, has unveiled a new insurance consortium aimed at covering risks tied to building AI data centers. This move comes as the demand for these centers grows quickly, with the market expected to bring in billions in new insurance premiums annually. The consortium will focus on … Read more

An explosion at a chemical plant in Mississippi on Wednesday caused a dangerous ammonia leak, leading to the evacuation of nearby residents. The incident happened at a CF Industries facility just north of Yazoo City, which manufactures hydrogen and nitrogen products, including ammonia and nitric acid. Governor Tate Reeves confirmed on social media that emergency … Read more

Marsh McLennan Agency (MMA) has named Adam Balentine as the new President of National Business Insurance. Balentine, who will be based in Kansas City, Missouri, will focus on growing MMA’s property and casualty business. He will also oversee the national claims team and manage specialized risk practices along with proprietary products and programs. Balentine brings … Read more

For the first time since 2019, more people are leaving American counties at high risk for floods than moving in. According to a recent report from Redfin, around 30,000 more residents left these areas than those who relocated there, marking a significant shift from pandemic years when many sought coastal and Sun Belt locations. The … Read more

Root Inc., the Columbus-based parent company of Root Insurance, posted a net loss of $5.4 million for the third quarter of 2025, a sharp turnaround from the $22.8 million profit it reported in the same period last year. CEO Alex Timm explained the loss was largely due to a $17 million non-cash expense tied to … Read more

Investors in Jamaica’s catastrophe bond are now facing a total payout after Hurricane Melissa triggered the full conditions of the $150 million bond. The World Bank, which arranged the bond, confirmed this recent development following the storm’s severe impact on the island. The bond was set up to fund recovery efforts only in extreme weather … Read more

Michael Doyle is set to lead Pen Underwriting’s new operations in Ireland as the company looks to expand its foothold across the region. Doyle, who has spent over 25 years working in the Irish insurance market, will officially start as CEO of Pen’s Irish business on March 1, 2026, pending regulatory approval. Before joining Pen … Read more

A United Parcel Service (UPS) cargo plane crashed near Louisville Muhammad Ali International Airport in Kentucky, killing at least 12 people. The crash happened after the plane’s left engine detached shortly after takeoff, according to officials. The aircraft then crashed into nearby buildings and terrain, setting off fires and scattering debris. The plane was a … Read more

Several victims of the recent Los Angeles wildfires are calling on California Governor Gavin Newsom to ask for the resignation of Insurance Commissioner Ricardo Lara. They blame Lara for a controversial deal he made with insurance companies that seems to have allowed tens of thousands of policyholders to lose their coverage just before the fires … Read more