AM Best Posts Credit Ratings of GeVera Insurance Group Members Under Review | INSURANCE OFFICE

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AM Best Posts Credit Ratings of GeVera Insurance Group Members Under Review

AM Best placed under review with consequences for the development of the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of GeoVera Insurance Group in Fairfield, California. Coastal Select Insurance Company, GeoVera Insurance Co., GeoVera Reinsurance Ltd. and GeoVera Specialty Insurance Co. … Read more

Omaha National acquires Sutter Insurance in California | INSURANCE OFFICE

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Alliant Insurance Services acquires Advanced Benefits in Idaho

Omaha National Group Inc. has Sutter Insurance Co. acquired, a California-based carrier. Sutter Insurance has been renamed Omaha National Casualty Co. Omaha National also owns Omaha National Insurance Co., based in Nebraska. Omaha National, which is now licensed to issue policies in 37 states, is a workers' compensation insurance provider with more than 250 employees … Read more

Chubb acquires pet insurance MGA from Aon – Reinsurance News | INSURANCE OFFICE

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Chubb

Global insurer Chubb has announced the acquisition of Healthy Paws, a managing general agent (MGA) specializing in pet insurance, from insurance and reinsurance broker Aon. Chubb has been the exclusive underwriter of the Healthy Paws pet insurance program for Aon since 2013, creating a long-standing relationship between the two companies. This history ensures a seamless … Read more

Japanese health insurance premium rate reaches record high | INSURANCE OFFICE

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Japanese health insurance premium rate reaches record high

Newsof Japan Society April 24, 2024 1:44 PM (JST) Tokyo, April 24 (Jiji Press) – The average premium rate among group health insurers in Japan is expected to reach a record high of 9.32 percent in fiscal year 2024, according to the National Federation of Health Insurance Societies (Kenporen). Due to an increase in contributions … Read more

Bhutan lifts travel insurance requirement – India's Top Travel News source: TravelBiz Monitor | INSURANCE OFFICE

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Bhutan lifts travel insurance requirement - India's Top Travel News source: TravelBiz Monitor

Bhutan recently made a major change in its tourism policy by removing mandatory travel insurance for tourists. This requirement, which was initially introduced during the COVID-19 pandemic to address unforeseen emergencies including medical expenses related to the pandemic, has been removed. The Ministry of Tourism Bhutan announced this decision in a notification dated April 23, … Read more

Insurance lapse for driver leaves Omaha man pinching pennies after crash | INSURANCE OFFICE

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Insurance lapse for driver leaves Omaha man pinching pennies after crash

OMAHA, Neb. (WOWT) – Ryan Thompson's 2019 Ford Fiesta crashed in a crash he couldn't avoid. “He came storming out of here and I came out into the street,” Ryan said. “He did not yield to traffic.” A white SUV crashed into Ryan's car, and although no one was injured, an Omaha police officer responded. … Read more

Residents outrage over cash-strapped Outbackshire's failed insurance claim on a $100,000 vehicle | INSURANCE OFFICE

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Residents outrage over cash-strapped Outbackshire's failed insurance claim on a $100,000 vehicle

Residents of a town in Western Australia's outback are furious after the local county admitted it bungled an insurance claim for a work vehicle worth about $100,000 that was in a rollover accident near a well-known recreation spot on Australia Day 2022. The incident has put Halls Creek Shire under closer scrutiny from residents who … Read more

Gov. DeSantis considers $200 million increase for home paving grant program to curb insurance costs | INSURANCE OFFICE

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Gov. DeSantis considers $200 million increase for home paving grant program to curb insurance costs

TALLAHASSEE, Fla. – Florida Governor Ron DeSantis is considering a proposal that could inject an additional $200 million into a home hardening subsidy program aimed at curbing the cost of property insurance. RELATED: Florida homeowners are taking a big hit in the crumbling property insurance market The proposal, known as SB 7028, was given the … Read more

The new bill from Illinois addresses concerns about health insurance | INSURANCE OFFICE

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The new bill from Illinois addresses concerns about health insurance

ROCKFORD, Ill. (WIFR) – Providing patients and their doctors with access to quality health care, a new health care bill is making its way through the Illinois Legislature. The Healthcare Protection Act focuses on insurance companies deciding what treatment options a patient has and how quickly they can be received. HPA passed the Illinois House … Read more

Only 1% of Maine households have flood insurance; Officials are urging homeowners and renters to reconsider | INSURANCE OFFICE

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Only 1% of Maine households have flood insurance; Officials are urging homeowners and renters to reconsider

AUGUSTA, Maine — With flooding becoming an increasing problem throughout Maine, the Maine Bureau of Insurance is urging homeowners and renters to consider flood insurance. Only about 1% of households in Maine have a flood insurance policy, according to a review of federal data. Households in Maine have only 7,452 policies under the National Flood … Read more