Insurance

AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Fidelis Insurance Bermuda Ltd., Fidelis Underwriting Ltd. (in the UK) and Fidelis Insurance Ireland …

Liberty Mutual Insurance has completed the acquisition of Malaysian insurer AmGeneral Insurance Berhad, which is expected to make Liberty Mutual the country’s largest auto insurer. AmGeneral was previously 51%-owned by AmBank Group and 49%-owned by Insurance Australia Group. Liberty Insurance …

The Boy Scouts of America must adjust their plan to create the biggest sexual abuse compensation fund in the U.S. in order to win final court approval for the $2.7 billion proposal, a judge ruled. The decision by a federal …

A U.S. banking regulator is urging banks dealing with cryptocurrency companies that they need to make sure customers know which of their funds will be insured by the government in case of collapse, and which have no safety net. The …

Elon Musk countersued Twitter Inc. on Friday, escalating his legal fight against the social media company over his bid to walk away from the $44 billion purchase, although the lawsuit was filed confidentially. While the 164-page document was not publicly …

Immediately after Lemonade closed its deal of Metromile July 28, job boards lit up with news of layoffs at the acquired company. Former Metromile employees have been posting the news on LinkedIn, with others offering potential opportunities. According to Blind, …

Florida Gov. Ron DeSantis has reappointed venture capitalist Erin Knight to the Citizens Property Insurance Corp. board of governors, the governor’s office announced. Knight, of Coral Gables, was appointed a year ago and is one of three people DeSantis has …

Blue Cross & Blue Shield of Mississippi on Thursday said it was suing three employees of the University of Mississippi Medical Center for allegedly spreading false information. The lawsuit is the latest development in a dispute between the state’s largest …

The recent brouhaha regarding Demotech and its Financial Stability Ratings (FSRs) of as many as 20 Florida insurers has now come full circle…almost. One important question remains unanswered. Before answering the question, and for those who’ve just joined the discussion, …

Six workers suffered severe burns following a Friday morning explosion at a oil drilling storage tank in central Mississippi. The workers sustained burns on at least 50% of their bodies, with one being burned from head to toe, said Minor …