Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Blues Health Insurers Back Venture to Lower Generic Drug Prices
Jan 27 2020 // A group of Blue Cross Blue Shield insurers is investing $55 million in a venture that aims to offer cheaper prices to their members on generic drugs that currently have little or no competition, the companies said on...
How Parametric Insurance Can Help Fill the Gap Where Traditional Insurance Falls Short
Jan 27 2020 // Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout...
Why Traditional Independent Agents, Carriers Need to Partner and Align Now More Than Ever
Jan 27 2020 // Agencies and carriers need to align now more than ever. I will add a condition to this statement: Quality independent agencies and quality carriers need to align now more than ever if they are to thrive. Unfortunately, I...
Policy Changes Now in Effect at Texas Windstorm Insurer
Jan 27 2020 // The new year brought some changes to residential and commercial policies provided by Texas’ insurer of last resort for wind and hail along the coast. New coverages, terms and conditions now apply to Texas Windstorm...
Industry Calls On Florida Lawmakers to Reform Lawsuit Abuse
Jan 27 2020 // Florida lawmakers are considering a number of insurance-focused issues over the course of the 60-day 2020 Legislative Session that started Jan. 14. At the top of the list for industry and consumer advocates are reforms to...
Entering and Exiting Digital: What’s Up with Multi-Brand Strategies of P/C Insurers?
Jan 24 2020 // Two of the largest property/casualty insurers in the U.S., Allstate and Nationwide, made headlines recently when they announced shifts in their respective multi-brand portfolios. Faced with the prospect of staying relevant...
As Insurers Pull Back from Australia’s Bushfire Zones, They Could Become Uninhabitable
Jan 24 2020 // Australian wildfires that have razed thousands of homes and blackened an area about the size of England may also create the nation’s first climate refugees. That’s the view of Michael Mann, distinguished...
Court: Insurer GEICO Must Pay Injured Kansas Man for Care Provided by Wife
Jan 24 2020 // An insurance company must reimburse a Kansas man for the personal care his wife provided after he was injured in an automobile accident, the state Supreme Court ruled in rejecting that spouses are required to provide such...
New Laws Spur Insurers to Reserve for Potential Child Sex-Abuse Claims
Jan 24 2020 // Travelers Companies Inc. has set aside a “modest” amount of additional money to cover its possible exposure to child sex-abuse claims, the insurer’s finance chief, Daniel Frey, told analysts during an...
Ratings Agencies Disagree Over Financial Strength of Florida Family Insurance Co.
Jan 23 2020 // The credit ratings of homeowners insurer Florida Family Insurance Co. and its subsidiary, Florida Family Home Insurance Co., have been downgraded by AM Best due to a deterioration in underwriting results for the insurer....
State of Insurance Agency E&O Insurance Market: Managing Rates and Risks
Jan 23 2020 // Agency errors and omissions (E&O) coverage is likely the most important insurance policy an agency purchases. As customer demands rise to an all-time high, having the right E&O coverage and ensuring best practices...
North Carolina Captive Insurance Program Continued Growth in 2019
Jan 22 2020 // The North Carolina Department of Insurance Captive Insurance Program continued its steady growth in 2019, according to a statement from NCDOI. As of Dec. 31, 2019, NCDOI had licensed (including provisional) 318 captive...
Insurtech Firm CyberCube Calls on Insurers to Set Global Cyber-Security Standards
Jan 22 2020 // CyberCube, an insurtech focused on cyber risk analytics, is calling on the insurance industry to set global cyber-security standards as the world digitizes. “Internet-connected technologies is a prime opportunity for...
Starr Insurance Companies Appoints Murphy as Southeast Regional VP
Jan 22 2020 // Starr Insurance Companies has appointed Kathleen Murphy as regional vice president, Southeast Region, effective January 13. Murphy is responsible for field leadership as well as broker and client relationships. According...
Washington Commissioner Orders Pet Insurers to Repay $4.7M to Consumers
Jan 21 2020 // Washington Insurance Commissioner Mike Kreidler issued a fine of $950,000 against ACE American Insurance Co. and Indemnity Insurance Co. of North America for reportedly overcharging 18,000 Washington consumers for nearly...
P/C Insurers Boosted Underwriting Profit, Surplus in 2019’s First 9 Months
Jan 17 2020 // The private U.S. property/casualty insurance industry saw its net underwriting gains increase to $5.4 billion in the first nine months of 2019 from $4.7 billion a year earlier, bolstered by growth in premiums and a drop in...
Liberty Mutual’s Irish Insurer Exits Several Lines Including Commercial Liability, Property
Jan 17 2020 // Liberty Insurance, the Irish subsidiary of Liberty Mutual Insurance Group, is exiting its commercial liability, commercial property and development bonds lines of business. Liberty will continue to provide services and...
Indonesia Takes Action to Rescue State Insurers, Potentially Raising Funds
Jan 17 2020 // Indonesia will appoint state financial firm PT Bahana Pembinaan Usaha Indonesia as a holding company for state insurers to improve their finances, a deputy minister said on Thursday, as the government puts together a...
U.K. P&C Insurers Face Strong Competition, Claims Inflation: AM Best Report
Jan 16 2020 // Market conditions for U.K. non-life insurers were difficult in 2019 as they continued to face strong competition and claims inflation, according to a report published by AM Best. Companies have had to contend with changes...
Gemini, Seeing Insurance As Key to Future of Virtual Currency, Starts Own Captive
Jan 16 2020 // U.S. virtual currency firm Gemini Trust Company announced on Thursday that it has launched its own insurance unit to boost coverage against theft of crypto assets. Gemini’s new in-house insurer, Bermuda-based...
