Insurance

AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+ (Good) from “a-” (Excellent) of Topa Insurance Co. in Calabasas, California, and its subsidiary, Dorchester Insurance Company Ltd. …

A judge in Louisiana and a prosecutor in Texas have taken action to block two separate insurance fraud schemes: One by a law firm whose lawyers admitted filing claims on behalf of homeowners it did not represent and another by …

Arthur J. Gallagher & Co. today announced the acquisition of Fort Wayne, Indiana-based Stewart, Brimner, Peters & Company, Inc. (SBP). Terms of the transaction were not disclosed. SBP is a retail insurance broker offering a variety of commercial and personal …

Reliance Partners acquired the assets of Truck Team Insurance in Salt Lake City, Utah. Truck Team Insurance Owner Brent Tate will also join Reliance Partners’ team as vice president of sales. He has more than 20 years of commercial insurance …

Pennsylvania-based insurance program specialist NSM Insurance Group has completed its acquisition of three businesses that specialize in the field of medical stop loss insurance and managed care insurance. The firms are Sequoia Reinsurance Services in Minnesota, and IOA Re’s two …

U.N. Secretary General Antonio Guterres warned that the “climate time bomb is ticking” as he urged rich nations on Monday to slash emissions sooner after a new assessment from scientists said there was little time to lose in tackling climate …

A Southern California residential care home company and three of its managers have been charged in connection with 14 COVID-related deaths at one of its facilities three years ago, prosecutors said. The criminal complaint alleges Silverado Senior Living Management failed …

Honolulu prosecutors filed charges against four police officers alleging a cover-up in connection with a high-speed car chase that they say resulted in a crash and a traumatic brain injury to the driver of another car. Honolulu Prosecuting Attorney Steve …

An Alabama jury has decided that Dollar General stores must pay almost $2 million to a delivery worker who was injured when a ramp collapsed at a store. Driver Jason Agee in 2019 was pushing a rolling cart full of …

Chile has agreed to an earthquake insurance program with the World Bank protecting it from $630 million worth of damage from strong earthquakes, in an effort to shore up risks to public debt from possible natural disasters. The insurance will …