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AM Best Downgrades Credit Ratings of Texas Farm Bureau Casualty Insurance Co.

Insurance Journal

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas Farm Bureau Casualty Insurance Company and its affiliates, Farm …

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Outlooks Revised to Positive for Louisiana Workers’ Comp Insurer Stonetrust

Insurance Journal

AM Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Stonetrust Commercial Insurance Company and Stonetrust Premier Casualty Insurance Company. Stonetrust is …

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Pennsylvania Shaved $98 Million Off Insurer Rate Requests in First Half of Year

Insurance Journal

The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of insurance company rate filings. The vast majority …

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Medicare Recovery Actions Can’t be Made by Uninjured Parties, Appeals Court Says

Insurance Journal

Litigation that seeks to win Medicare reimbursements from insurance companies has become a huge business over the last decade, making one Miami lawyer a billionaire and causing expensive, ongoing legal headaches for property-casualty insurers. But the federal law that allows …

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Summit Expands Workers’ Comp Coverage to Illinois

Insurance Journal

Summit, a regional provider of workers’ compensation insurance services, announced the expansion of its coverage into Illinois.

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3rd-Party Litigation Funding, Federal Regs Among Insurance Trades’ Priorities for 2024

Insurance Journal

Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2025? Sampson, president and CEO, American Property Casualty Insurers … Here are the responses we received: David A.

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AM Best Downgrades Credit Ratings of Texas Farm Bureau

Insurance Journal

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas Farm Bureau Casualty Insurance Company and its affiliates, Farm …