Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 24 2020 // Anticipated reinsurance rate increases for Florida-specific property insurance companies in the upcoming June 2020 renewal period potentially could pressure the more thinly capitalized companies in the market, according to...
UK Insurers Could See Underwriting Losses After Storms Ciara, Dennis: Fitch
Feb 21 2020 // Losses from storms Ciara and Dennis, which brought strong winds, torrential rain and widespread flooding to the UK, will increase pressure on UK household insurers’ profits in 2020, said Fitch Ratings. While the...
Tennessee Licenses 200th Captive Insurance Company
Feb 21 2020 // The Tennessee Department of Commerce & Insurance (TDCI) is marking the licensing of its 200th captive insurance company, Mattoon Insurance Co., making the state the seventh-largest captive domicile in the U.S.,...
How One County Plans to Vet Insurers for Fossil Fuel Investments
Feb 20 2020 // “We have front row seats,” said Elise Jones, a Boulder County commissioner. Jones along with two other commissioners oversees government affairs in the Colorado county of 330,000 or so at the base of the...
Usage-Based Insurance Pioneer Metromile Now Offering Its Technology as Claims Tool
Feb 20 2020 // Now that most major carriers are selling usage-based car insurance, one of the pioneers in that sector is selling its technology to other carriers as a claims management tool. San Francisco-based Metromile announced that...
Coronavirus Raises Insurance Questions But Catastrophe-Tested Insurers Are Prepared
Feb 20 2020 // As the coronavirus outbreak continues to cause concern around the globe, the insurance industry is facing a potentially far-reaching impact but has the experience to handle what might come its way. Based on what the...
Activist Hedge Fund Elliott Investment Builds Stake in Dutch Insurer NN Group
Feb 20 2020 // Elliott Investment Management, U.S. billionaire Paul Singer’s activist hedge fund firm, has built up a 3.04% stake in Dutch insurer NN Group, a filing by the Dutch financial regulator AFM showed on...
AXA Lowers 2020 Profit Guidance for XL Unit
Feb 20 2020 // French insurer AXA lowered its 2020 profit guidance for its companies-focused XL unit and named a new boss for the division, as it stepped up measures to reduce exposure to risks stemming from natural disasters that become...
Insurers Finding It Increasingly Difficult to Fill Vacant Positions
Feb 20 2020 // Most insurance companies plan to either maintain current staffing or add new employees over the next 12 months, The Jacobson Group and Aon have found. At the same time, their new Semi-Annual U.S. Insurance Labor Outlook...
Texas Windstorm Insurer Sets Funding at $4.2 Billion for 2020 Cat Year
Feb 19 2020 // The wind and hail insurance carrier of last resort for counties along the Texas coast has determined that its 1-in-100 probable maximum loss (1:100 PML) for the 2020 catastrophe year is $4.2 billion. At a quarterly meeting...
Employment Liability Insurers See Plenty to Worry About, From Biometrics to Harassment
Feb 19 2020 // After Back to the Future 2 was released in 1989, moviegoers could observe Marty McFly as he traveled to his version of 2015 where fingerprints were used to identify a person, to unlock the front door of a house and to pay...
California Commissioner, Lawmakers Intro ‘Hardened Homes’ Wildfire Bill Requiring Admitted Market to Offer Coverage
Feb 18 2020 // A newly proposed bill would clarify under California law the concept of “hardened homes” that are safer or more resistant to wildfires and then require admitted carriers to cover those homes. California’s...
Storm Sabine (AKA Ciara) Cost Insurers $731M in Germany: GDV
Feb 18 2020 // Storm Sabine caused insured losses of 675 million euros ($731 million) in Germany this month, the GDV Insurance Association said on Tuesday, making it the sixth most costly storm in Europe’s largest economy since...
12 Chinese Insurers Co-Launch Coverage for Businesses Hit by Coronavirus
Feb 18 2020 // China’s southern province of Hainan has launched the first specially designed insurance product to cover losses incurred by businesses as a result of the coronavirus outbreak in the country, the banking and insurance...
Generali, Great Eastern Weigh Bids for Malaysia Insurers, Part Owned by AXA: Sources
Feb 18 2020 // Singapore’s Great Eastern Holdings Ltd. and Assicurazioni Generali SpA are among potential bidders for the life and general insurance businesses in Malaysia that AXA SA and Affin Bank Bhd. own, according to people...
HCI Approved by Florida Regulator to Replace Anchor P&C Coverage for 43K Insureds
Feb 18 2020 // The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty...
Analyst Warns Regulatory Battle Over AI Bias to Grow; Lemonade Argues It’s Fair
Feb 14 2020 // As insurers introduce artificial intelligence into pricing and claims handling activities, regulatory focus on disparate impact will grow into “one of the biggest topics of the next 10 years,” a well-known...
Insurers Rush to Exclude Coronavirus Epidemic from Event-Cancellation Protection
Feb 13 2020 // Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 11 2020 // Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As...
Issuer Credit Ratings of Michigan’s Atain Insurance Companies Downgraded
Feb 10 2020 // AM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” from “a+” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Farmington Hills, Mich.-based Atain...
