AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent) of Illinois Casualty Company (ICC) and Lebanon Valley Insurance Company (LV). …
Nordea Bank Abp is facing a potential 6.6 billion-krone ($988 million) penalty as a Danish court prepares to rule in a case over failures to prevent money laundering that go back more than a decade. The case marks the first …
French lender Credit Mutuel Arkea said on Thursday hackers had stolen around €100 million ($112.61 million) in a cyber heist and it was working to try to recover the money, in a rare case of cybercriminals successfully stealing from a …
Democrats are planning to unleash a flood of new legislation targeting artificial intelligence systems and data-center development when they take control of the U.S. Congress in January, lawmakers, congressional aides and advocates said. The plans would mark a sharp shift …
Insurance companies are beginning to look toward the next phase of AI adoption with agentic AI and automation, according to Chris Newman, CEO of ACORD Solutions Group, at this year’s InsurTech Connect conference in Las Vegas. However, as AI moves …
Florida’s newly approved property-tax cut is designed to make homes more affordable. But it could also push up another punishing cost of homeownership: insurance. Homes in the Sunshine State are already among the most costly to insure in the US …
Last week’s $6.3 billion Binance heist is prompting insurers to scrutinize crypto companies’ security more closely, with underwriters expected to probe if clients are vulnerable to a similar attack when they seek new coverage or renew existing policies, industry insiders …
MEMIC Promotes Delcourt to Regional Vice President The MEMIC Group, headquartered in Portland, Maine, promoted Ben Delcourt to regional vice president, underwriting. He will lead MEMIC’s Maine underwriting team and collaborate with the company’s independent agency partners across the state. …
Sporadic bomb threats continued to disrupt multiple flights across Europe on Friday, capping a week of unusual alerts that have put the aviation industry on guard and raised alarm with authorities. Flights operated by Ryanair Holdings Plc, Wizz Air Holdings …
The Archdiocese of New York has finalized an $800 million settlement to resolve more than 1,300 outstanding claims of sexual abuse by clergy filed under the state’s Child Victim’s Act (CVA) and other laws. “As of today, November 5, 2026, …