Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Europe’s Storm Dragi-Eberhard Cost Insurers €782M (US$882.9M): PERILS
Mar 9 2020 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, disclosed its fourth and final loss estimate of €782 million (US$882.9 million) for Europe’s Extratropical...
4 State Senators Named to Funding Oversight Board of Texas Windstorm Insurer
Mar 9 2020 // Texas state Sen. Kelly Hancock (Richland Hills), Sen. Juan “Chuy” Hinojosa (McAllen), Charles Schwertner (Georgetown) and Larry Taylor, (Friendswood) have been appointed to the Windstorm Insurance Legislative...
Despite Finding Insurer’s Actions ‘Reprehensible,’ Iowa Court Slashes Payment to Paralyzed Worker
Mar 9 2020 // The Iowa Supreme Court has dramatically reduced the compensation a paralyzed northeast Iowa man received from a jury in a lawsuit against an insurance company even while finding the company’s actions were...
Homeowners’ Satisfaction
Mar 9 2020 // U.S. homeowner insurers are doing a better job than ever making their customers happy when responding to claims, according to J.D. Power. Results of the firm’s Property Claims Satisfaction Study show that overall...
Logic & Language, Forms & Facts: The Case of the ‘Holey’ Insurance
Mar 9 2020 // For a number of years, I’ve done a workshop called “The Adventures of Ace Insura, Claims Detective.” Participants assist Ace in solving a variety of coverage and claims mysteries. Each case has one or...
Why Banning Rating Factors Could Hurt Auto Even More
Mar 9 2020 // Auto insurance affordability is an important issue for consumers and the industry. Insurers take a wide variety of actions to make auto insurance as affordable as possible for consumers because they recognize that its cost...
What Small Business Wants
Mar 9 2020 // Small business doesn’t mean small-in-size when it comes to the commercial insurance market. Direct written premiums ranged between $99 billion and $103 billion in 2013, up from $91 billion in 2011, according to...
Tennessee Licenses 200th Captive Insurance Company
Mar 9 2020 // The Tennessee Department of Commerce & Insurance (TDCI) has licensed its 200th insurance company, Mattoon Insurance Co., making the state the seventh-largest captive domicile in the U.S., according to a statement from...
One U.S. State May Look at Insurers’ Fossil Fuel Investments and Underwriting to Combat Climate Change
Mar 5 2020 // A Connecticut lawmaker has plans for a bill that not only calls for the state to look at which insurers have fossil fuel investments – a growing trend among government entities as of late – but also which ones are...
New York-Area Financial Firms, Insurers Implement Travel Policies for Coronavirus
Mar 5 2020 // Financial firms in New York City were testing remote-work capabilities, implementing new travel restrictions and canceling or modifying upcoming events as the coronavirus outbreak – already on the finance...
Verisk Expands Insurtech Solution OneXperience into Commercial Insurance
Mar 5 2020 // Insurance data analytics and risk modeling firm Verisk announced the expansion of its new insurtech solution OneXperience into commercial insurance. This expansion will enable agents and businesses to engage and closely...
Biden’s Reanimated Campaign Drives $48 Billion Gain for Health Insurers
Mar 5 2020 // Health insurers added about $48 billion in market value and led U.S. stock market gains on Wednesday after Joe Biden’s once-faltering Democratic presidential campaign was reanimated on Super Tuesday. The...
Canada Government Must Move Quickly to Map Flood Risks, Insurers Warn
Mar 5 2020 // Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of mapping flood...
AM Best Assigns A- Credit Ratings to Minnesota’s SFM Companies
Mar 4 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to SFM Mutual Insurance Co. and its affiliates, SFM Safe Insurance Co. and SFM Select Insurance...
Direct Sales of Small Business Insurance Poised to Grow to $12B by 2025: Novarica
Mar 4 2020 // Over the past decade, selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality. In a new report, research and advisory firm Novarica projects significant growth in the...
D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment
Mar 4 2020 // Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best...
EXOR to Sell PartnerRe to French Insurer Covea for $9 Billion
Mar 4 2020 // EXOR has agreed to sell PartnerRe to French mutual insurer Covéa, a move that is turning out to be a very profitable thing for the Italian investment firm. EXOR bought the Bermuda-based reinsurer in March 2016 for $6.72...
Insurance Unlikely to Cushion Coronavirus Losses – But There Are Exceptions
Mar 4 2020 // Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The...
Update: Demotech Evaluating 2019 Results of Florida Carriers, Expects ‘Many’ Downgrades
Mar 4 2020 // Ratings agency Demotech is currently reviewing the 2019 fourth quarter earnings and year-end financials of the Florida insurers it rates after indicating in January that several Florida domestic insurers could receive...
Texas Insurer Hallmark Financial Exiting Binding Primary Commercial Auto Business
Mar 3 2020 // Citing loss development for prior underwriting years, Dallas-based specialty property/casualty insurer Hallmark Financial Services Inc., is exiting its Binding Primary Auto business. The commercial auto product the company...
