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AM Best Upgrades Union Mutual Rating to Excellent with Stable Outlook May 4, 2021 AM Best has upgraded the financial strength rating to A (excellent) from A- (excellent) and the long-term issuer credit ratings to “a” from “a-” of Union Mutual Fire Insurance Company, the lead property/casualty company and its wholly owned subsidiary, New England Guaranty Insurance Company Inc., as well as its mutual affiliate, Community Mutual Insurance Company, which are collectively referred to as Union Mutual of Vermont Companies. Union Mutual Fire and New England Guaranty are domiciled in Montpelier, Vermont, while Community Mutual is domiciled in Latham, New York. The outlook of these credit ratings was revised to stable from positive. ....
To print this article, all you need is to be registered or login on Mondaq.com. Policyholders are hailing two recent victories in their pursuit of insurance coverage for COVID-related business interruption losses. A North Carolina court granted a policyholder summary judgment that a commercial property insurance policy covers business interruption losses resulting from COVID-related government shutdown orders. Meanwhile, a Florida federal court determined a virus exclusion does not preclude a policyholder from pursuing insurance for COVID-related business interruption loss. These decisions clearly reject the insurance industry s self-serving mantra that COVID-related losses are not covered by insurance. In North State Deli, LLC v. Cincinnati Insurance ....