Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurtech M&A: Applied Systems to Acquire Indio to Digitize Commercial Lines Sales
Dec 4 2019 // Leading insurance technology firm Applied Systems has agreed to acquire digital insurance technology startup Indio Technologies. The move will enable Applied Systems to offer Indio’s digitized commercial insurance...
Insurers Pay $4.1M in Claims During Recent Hurricane Michael Claims Villages
Dec 3 2019 // Claims villages hosted by the Florida Department of Financial Services since August 2019 have led to the resolution of $4.1 million in insurance claims for nearly 750 residents impacted by Hurricane Michael, according to a...
Generali’s Talks to Buy MetLife’s Europe Assets Stall over Price Differences: Sources
Dec 3 2019 // Italian insurer Assicurazioni Generali has held talks with U.S. rival MetLife Inc to buy the bulk of its European assets but discussions have stalled due to differences over price, four sources told Reuters. Generali,...
Was It an Act of War? That’s Merck Cyber Attack’s $1.3 Billion Insurance Question.
Dec 3 2019 // By the time Deb Dellapena arrived for work at Merck & Co.’s 90-acre campus north of Philadelphia, there was a handwritten sign on the door: The computers are down. It was worse than it seemed. Some employees who...
Reinsurers Pressure Life Insurers Over Vaping Health Risks
Dec 3 2019 // Global reinsurers are stepping up their warnings to life insurer clients about the potential risks of vaping, putting pressure on underwriters to charge certain vapers higher rates than smokers, or even exclude them...
Feds Sue Arkansas Insurer Over Fired Employee Who Had A Baby
Dec 2 2019 // The federal government is suing a Little Rock, Ark.-based insurance company over the firing of a worker who had just had a baby. The U.S. Equal Employment Opportunity Commission filed the lawsuit last week in Little Rock...
France to Require Insurers, Banks to Run Climate Change Stress Tests in 2020
Dec 2 2019 // France’s financial regulator will subject banks and insurers to climate change stress tests next year, central bank governor Francois Villeroy de Galhau said on Friday. Investors are increasingly putting pressure on...
5 Trends in Today’s Personal Umbrella Market
Dec 2 2019 // The personal umbrella market had been steady for many years, with lots of choices available in the market when it came to finding the right coverage for customers. However, recent changes are turning the market upside down...
How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study
Dec 2 2019 // Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers” — those that succeed at both, not only growing but...
Program Business Continues Record Growth Despite Market Challenges
Dec 2 2019 // Underwriters Search for ‘New’ and ‘High Risk’ Spaces to Target Fueled by investments from insurtechs and interest in niche classes, the program business market has experienced record growth over the...
5% Rate Hike Recommended for Texas Windstorm Insurer
Dec 2 2019 // When the board of directors of Texas’ property insurer of last resort for wind and hail along the Texas coast meets in December, its members will be considering a recommendation by the organization’s actuarial...
Insurers to Pay $21M of $41M Shareholder Settlement with Wynn Resorts
Dec 1 2019 // Casino mogul Steve Wynn agreed to pay $20 million toward a settlement of shareholder lawsuits that claimed Wynn Resorts Ltd.’s board had been complicit in his alleged sexual misconduct. The former chief executive...
Wildfire Crisis is Roiling California’s Insurance Market
Nov 27 2019 // Lauris Bye, a homebuilding industry veteran who moved to Southern California’s wildfire-prone hills decades ago, felt confident about the newly built house he was buying about 30 miles north of downtown Los...
Insurance Companies Sue Government Over Gatlinburg Fire
Nov 27 2019 // More than 40 insurance companies sued the federal government last week over its handling of a 2016 Tennessee wildfire that killed 14 people and destroyed or damaged more than 2,500 buildings in Sevier County. The Knoxville...
AXA XL Buys London-Based Title Insurance Agency, Agrees to Buy Mexico Title Insurer
Nov 27 2019 // AXA XL announced it has completed the acquisition of Secure Legal Title Ltd., a London-based insurance agency and Lloyd’s approved coverholder, with operations in the U.K., Europe, India and the Americas. Founded in...
Oklahoma Commissioner OKs Rhode Island Insurer’s Insurance Business Transfer Plan
Nov 26 2019 // Oklahoma Insurance Commissioner Glen Mulready on Nov. 26 authorized Rhode Island-based insurance Providence Washington Insurance Co. (PWIC) to submit its Insurance Business Transfer (IBT) Plan to the District Court of...
Why E&S Carriers Aren’t Winners Over the Long Term
Nov 25 2019 // ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes,” reveals that E&S/specialty companies don’t fare well over the long term. Here, CEO Bill Pieroni suggests possible reasons...
Confessions of a Diehard Insurance Data Fan: Part 2
Nov 25 2019 // After Bill Pieroni, the CEO of ACORD, delivered a presentation about ACORD’s latest study, “Intelligent Growth: Intent, Decisions, Outcomes,” he sat down with Wells Media’s Andrew Simpson to talk...
ACORD Study Results: Loser Lessons
Nov 24 2019 // More from ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes.” Of the 200 carriers, 73 were called waning carriers. These are carriers that have inferior combined ratios or return on...
How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study
Nov 24 2019 // Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers”—those that succeed at both, not only growing but also...
