Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Pressured to Drop Coverage of Canada’s Oil Sands Pipeline
Aug 8 2019 // A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project, which carries crude from...
How AI Advances ‘No-Touch’ Resolution of Workers Compensation Claims: Opinion
Aug 8 2019 // Many human hours are needed to sort, analyze and process workers compensation claims—the vast majority of which are low in value. The U.S. workers comp insurance market is forecast to earn revenues of $55 billion in...
New Hurricane Response Tools from Munich Re Aim to Improve Claims Experience
Aug 7 2019 // Munich Re has launched a new suite of hurricane response tools designed to help insurance companies assess widespread property damage after a hurricane and improve their customers’ claims experience. Developed by...
Specialty Insurer Kinsale Capital Plans Public Offering
Aug 7 2019 // Richmond, Virginia-based specialty insurer Kinsale Capital Group said it intends to offer 530,000 shares of common stock in a public offering. Kinsale said it also expects to grant the underwriters a 30-day option to...
Texas Windstorm Insurer: No Rate Hike for 2020
Aug 6 2019 // Texas’ provider of last resort for wind and hail insurance for Texas coastal properties won’t be raising its residential and commercial property rates next year. The Texas Windstorm Insurance Association (TWIA)...
California Court of Appeal Hands Win to Insurer, Rental Car Space
Aug 5 2019 // The California Court of Appeal, Second Appellate District, has upheld the decision of a trial court ruling finding that fees rental car agencies charge for optional insurance need not be included in rate filings and are...
GEICO Gets Progressive, Joins Auto Insurers Offering Telematics
Aug 5 2019 // Berkshire Hathaway’s GEICO auto insurer has joined the ranks of carriers using telematics to track and improve driver behavior—after resisting for years. Berkshire Hathaway’s GEICO has been one of the few...
Resolving Claim Disputes: Step 2…Other Policy Interpretation Doctrines
Aug 5 2019 // Step 2 of the claim resolution process involves interpreting policy provisions that are cited as the basis for a claim denial. This step (and Step 3) employs up to 12 interpretive doctrines and 17 largely legal and...
Captives Remain Profitable, Continue to Outperform Commercial Insurers, Reports A.M. Best
Aug 5 2019 // U.S. captive insurance companies rated by A.M. Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’s counterparts in the commercial casualty sector, according...
Starr Insurance Companies Extends Defense Base Act Coverage to Small Contractors
Aug 2 2019 // Starr Wright Insurance Agency, Inc. (Starr Wright USA), a division of Starr Insurance Companies, has a launched a distribution channel for Starr Insurance Companies’ Defense Base Act insurance coverage, specifically...
Texas High Court Clarifies Bad Faith in Appraisal Process
Aug 2 2019 // An insurer’s payment of the appraisal value after disputing a claim does not establish that it was liable, nor does that payment prevent a policyholder from pursuing penalties under the Prompt Payment of Claims Act,...
UK Regulator Asks Insurers to Weigh Possible Business Impact of Climate Change
Aug 2 2019 // The Bank of England for the first time is asking British insurers to gauge how global warming might impact the value of the stocks and bonds they hold — and its potential to upend financial markets. The central bank,...
Health Insurers Seek Average 2% Rate Hike for Arkansas Exchange
Aug 1 2019 // Arkansas officials say the four companies providing coverage through the state’s insurance exchange under the federal health care overhaul law are seeking an average rate increase of about 2% for next year. Insurance...
Nebraska Insurer, Ameritas: Data Breach Possibly Exposed Customers’ Info
Aug 1 2019 // Lincoln, Nebraska-based insurance and finance company Ameritas has notified customers that their personal information may have been exposed in a data breach. The Lincoln Journal Star reports that the company said in a...
Florida Regulator Calls Open Hurricane Michael Claims ‘Discouraging’; Plans Data Call
Aug 1 2019 // With more than 20,000 claims related to Hurricane Michael still open nine months after the storm hit the Florida Panhandle, Florida’s top insurance regulator is calling on the insurance industry to take “all...
Space Insurance Premiums Could Double After European Vega Rocket Crash
Jul 31 2019 // Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry...
Swiss Re-Backed Insurer FWD Eyes China Expansion Ahead of Potential IPO
Jul 31 2019 // Fast-growing insurer FWD is seeking to launch operations in China ahead of any public offering and plans to bolster its non-life business in Asia, its chief executive said, as a potential shake-up looms in the...
Why Agencies Shouldn’t Be Afraid of Insurtech and Need to Adopt It – Now
Jul 31 2019 // There’s been a barrage of insurtech products hitting the market for several years now, creating confusion for some agency owners trying to decipher what is relevant to them, how to implement these products and...
California Self-Insurers Board Greenlights Workers’ Comp Alternative Security Program
Jul 30 2019 // The board of the California Self-Insurers’ Security Fund has approved the 2019/20 Alternative Security Program. The ASP provides a financial backstop to replace security deposits required to collateralize...
A Year after GDPR, How Can U.S. Insurers Prepare for Data Privacy Regs Closer to Home?
Jul 30 2019 // More than a year after the European Union implemented its General Data Protection Regulation (GDPR), U.S. insurers are examining what they can learn as they prepare for the implementation of similar data privacy laws in...
