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AM Best has made a significant update regarding Westfield Insurance Company and its affiliates, now giving them a stable outlook for their Long-Term Issuer Credit Ratings. This change comes after a period of negative outlook and reflects improvements in the company’s financial health. Westfield, which is based in Westfield Center, Ohio, is a subsidiary of … Read more

Florida lawmakers are stepping up to address growing concerns about property insurance in the state. In early March, legislative leaders gathered in Tallahassee, responding to public pressure and media scrutiny. They committed to investigating the financial practices of property insurers, particularly their dealings with managing general agents (MGAs). House Speaker Danny Perez announced this investigation, … Read more

A Texas man has been sentenced to over 13 years in prison for his role in a large insurance fraud scheme that cost companies around $5 million. Jordan Ford, 32, was charged in June 2024 and pleaded guilty to conspiracy to commit wire fraud in September 2024. On Thursday, U.S. District Judge Mark Pittman sentenced … Read more

Real estate investors are becoming a significant force in the housing market, making up nearly 15% of all home buyers. This increase in investor activity is creating a greater need for specialized insurance advice and solutions tailored to their unique situations. As the market continues to grow, insurance providers are recognizing the importance of offering … Read more

Insurance Business has announced the top wholesale brokers and managing general agents (MGAs) in the United States for 2025. This recognition comes as retail insurance brokers are increasingly collaborating with these wholesale partners to enhance their service offerings. According to a recent survey by Insurance Business America (IBA), 33% of brokers reported that they conducted … Read more

In 2025, businesses involved in digital assets are facing new compliance challenges due to evolving regulations in the United States and the European Union. As these frameworks develop, companies must adjust to new rules that impact how they operate in the digital asset space. The European Union has introduced the Markets in Crypto-Assets Regulation (MiCAR), … Read more

Marsh, a leading global insurance broker based in New York City, has announced key leadership changes in its U.S. operations. Fran Curran has been appointed as the new U.S. surety leader, while Todd Schweitzer takes on the role of U.S. construction claims leader. Fran Curran, who has been with Marsh for 24 years, previously led … Read more

The U.S. property and casualty insurance sector has seen a significant turnaround, reporting its first full-year underwriting profit in four years. This shift has contributed to a remarkable rise in net income, reaching $170 billion for the year 2024, as highlighted in a recent report from Verisk and the American Property Casualty Insurance Association (APCIA). … Read more

MS Amlin, a global re/insurer based in Lloyd’s, has announced a significant reinsurance scheme designed to support Ukraine’s small and medium-sized enterprises (SMEs). This initiative could provide up to €1 billion (approximately $1.1 billion) annually in coverage, aimed at revitalizing the war risk insurance market in Ukraine. The scheme is a collaboration between MS Amlin, … Read more

The insurance industry is facing a significant challenge as many experienced professionals prepare to retire. This wave of retirements, often referred to as the “silver tsunami,” is expected to leave over 400,000 positions open in the next 15 years. A recent report from Lightcast highlights that half of the current insurance workforce will retire, creating … Read more