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A.M. Best Company

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An emerging commercial risk with growth opportunity

September 30, 2019 by Greg Meckbach

Companies providing electric scooters and similar devices are spawning a growing market for commercial insurance, an analyst with A.M. Best Company Inc. suggests. There is no standard definition of “micro mobility” but it often refers to small “last-mile” modes of

News InsuranceLegalLegislation / RegulationRisk

Risk appetite for marijuana ‘all over the map’

September 17, 2018 by Greg Meckbach

Some insurance companies “want no part” of covering risks related to cannabis in Canada, an industry analyst warns. As of Oct. 17, it will be legal in Canada for adults to possess up to 30 grams of dried cannabis for

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

U.S. P&C industry records US$5.1 billion underwriting loss in first half of 2017: A.M. Best

August 29, 2017 by Canadian Underwriter

The property and casualty industry in the United States recorded a net underwriting loss of US$5.1 billion for the first six months of the year, according to preliminary results from A.M. Best Company. This underwriting loss compares with a US$2 billion loss in the same period a year ago, the Oldwick, N.J. ratings firm said in a press release on Tuesday. Data from the financial review is derived from companies’ six-month 2017 interim statutory statements received as of Aug. 21 and represents an estimated 96%…

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Cyber line expected to be one of the leading P&C growth areas in the U.S. over the next few years: A.M. Best

June 23, 2017 by Canadian Underwriter

The cyber line of business is expected to be one of the leading growth areas within the property and casualty space in the United States, with cyber coverages estimated to increase between US$7.5 billion to US$20 billion by 2020, a

News InsuranceLegalMarkets / CoveragesReinsuranceTechnology

Cyber security a ‘key aspect’ of risk management for medical professional liability insurers: A.M. Best

May 11, 2017 by Canadian Underwriter

Medical professional liability insurers who retain cyber risk need to limit their exposure “through strong policy language,” A.M. Best Company Inc. warned in a report released Wednesday. The ability to “identify emerging risks in areas such as cyber security,” is,

News Earnings / RatingsInsuranceLegislation / RegulationMergers and Aqcuisitions

A.M. Best requests comments on draft ratings criteria for Canadian P&C insurers

April 27, 2017 by Canadian Underwriter

Oldwick, N.J.-based ratings firm A.M. Best Company is requesting comments from market participants in the insurance industry and other interested parties on the draft criteria reporting Understanding BCAR for Canadian Property/Casualty Insurers. BCAR, or Best’s Capital Adequacy Ratio, is calculated

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Canadian industry underwriting income down 81% in 2016: MSA

April 18, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Climate adaptation investment has ‘long-lasting and substantial impact:’ Intact VP

April 5, 2017 Greg Meckbach, Associate Editor

Building infrastructure to reduce weather-related losses can benefit society for generations, but the problem of climate change is “so global and complex” that there will always be more work required, insurance company executives suggested Wednesday at a conference in Toronto.

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Credit rating upgrades outpace downgrades for U.S. P&C carriers in 2016: A.M. Best

February 7, 2017 by Canadian Underwriter

Credit rating activity in 2016 turned positive as upgrades outpaced downgrades for the property & casualty industry in the United States, despite headwinds that include pressure on underwriting results and the low investment yield environment, according to a new special

News InsuranceLegislation / RegulationMarkets / CoveragesReinsurance

Munich Re, Insurance Europe welcome U.S.-EU covered agreement

January 20, 2017 by Canadian Underwriter

Munich Re and Insurance Europe are welcoming the successful conclusion of “covered agreement” negotiations between the United States and the European Union. Munich Re said in a press release on Thursday that “finalizing the agreement is an important step to

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Brexit uncertainties weigh on U.K. insurers but rated entities able to withstand pressure: A.M. Best

January 20, 2017 by Canadian Underwriter

Ratings firm A.M. Best Company said on Friday that it does not anticipate taking any rating actions as a direct result of plans for the United Kingdom to exit the European Union (EU), “although the cost implications of continuing to

News Earnings / RatingsInsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

U.S. professional liability market to remain robust in 2017, with competitive level for D&O and E&O businesses remaining heightened: A.M. Best

January 13, 2017 by Canadian Underwriter

The professional liability sector of the United States property and casualty insurance market will continue to be robust in 2017, with the competitive level for directors and officers (D&O) and errors and omissions (E&O) businesses specifically remaining heightened, A.M. Best