Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Penn. Insurance Department Announces Restitution for Consumers in Annuity Scam
Aug 21 2019 // Pennsylvania Insurance Commissioner Jessica Altman said her department has gotten more than $117,000 in restitution for 25 Pennsylvania consumers victimized in a major annuity scam. “I am pleased we were able to...
Underwriters Get Picky and Other Trends in Construction Insurance
Aug 19 2019 // Construction insurance specialists say their insurance market is strong with plenty of capacity and underwriters competing for the best accounts. According to specialists interviewed by Insurance Journal for their...
Report: Re/Insurers Are Reconsidering Risk Appetite for California Wildfires
Aug 19 2019 // S&P Global Ratings says 2020 reinsurance pricing in the aftermath of California wildfires will likely rise as re/insurers are finding 2017-2018 losses from wildfires in that state to be higher than expected. The...
Execs: Wholesalers at Center of Topa Plans After Acquisition of California Insurer
Aug 19 2019 // Two key executives involved in the acquisition of Topa Insurance Group by Altamont Capital Partners who spoke about the deal were emphatic about one thing: wholesalers will continue to be the center of the company’s...
Why Agencies Shouldn’t Be Afraid of Insurtech and Need to Adopt It – Now
Aug 19 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...
Near National P/C Carriers Identified for 2019
Aug 19 2019 // This year marks the 13th year of the Demotech Company Classification System, which was established in the Feb. 12, 2007, issue of Insurance Journal. The system categorizes insurers into one of 11 categories based on an...
Age Discrimination Among Older U.S. Workers an Increasingly Serious Concern, Insurer Says
Aug 19 2019 // Age discrimination affects more than one-fifth of U.S. workers over the age of 40, a particular number of which are men, according to a survey from specialty insurer, which warns companies to be mindful of the related...
Texas Windstorm Insurer Not Filing Rate Hike for 2020
Aug 19 2019 // Texas’ provider of last resort for wind and hail insurance for coastal properties won’t be raising its residential and commercial property rates next year. The Texas Windstorm Insurance Association (TWIA) said...
In Review of Hail Claims Cases, Texas High Court Clarifies Bad Faith in Appraisal Process
Aug 19 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,...
California’s $27.6M Fine Against Mercury Insurance Remains After Court Action
Aug 16 2019 // California regulators say a ruling by the state’s highest court means a $27.6 million fine imposed against Mercury Insurance Co. for improperly tacking fees onto auto insurance policies will stand. The California...
4 Facts that the Number of Open Michael Claims Won’t Tell You
Aug 14 2019 // Much is being made of a recent call by Florida Insurance Commissioner, David Altmaier, for insurance companies to “redouble efforts to resolve all open claims…” related to Hurricane Michael. Here’s the...
With Smarter, Joined-Up Pricing, There’s No Such Thing as a Bad Risk: Viewpoint
Aug 14 2019 // It’s a well-trodden truth in our industry that not all risks are created equal, and for insurers, that some risks are riskier than others. However, new technologies mean new avenues of innovation for insurers to...
21% of U.S. Workers Over 40 Claim They Have Experienced Age Bias, Insurer Says
Aug 13 2019 // Age discrimination affects more than one-fifth of U.S. workers over the age of 40, a particular number of which are men, according to a survey from specialty insurer, which warns companies to be mindful of the related...
New North Dakota Insurance Laws Now in Effect
Aug 12 2019 // The North Dakota Insurance Department recently released a list of new insurance-related laws enacted from bills that passed the state’s legislature in 2019. Following is a limited list of new laws in North Dakota...
Lloyd’s, London Market Insurers Surpass Q2 Electronic Placing Targets
Aug 12 2019 // More than half of in-scope market risks were placed electronically in the London and Lloyd’s markets during the second quarter, surpassing targets placed on the Platform Placing Ltd. (PPL) and other recognized...
Insurer MBIA Sues Banks Over ‘Financial Tragedy’ of Defaulted Puerto Rico Bonds
Aug 12 2019 // Bond insurance company MBIA Inc. sued several financial institutions on Thursday over their role in underwriting billions of dollars of Puerto Rico bonds that eventually went into default. The lawsuit filed in superior...
Mobile Auto Insurer Root Insurance Expands Into California
Aug 12 2019 // Root Insurance, a licensed insurance carrier powered by mobile, has entered California, making it now available to 60% of the U.S. population. Customers can sign up and customize their coverage to immediately see how some...
Mendota, Mendakota Insurance Companies Relocate to Tennessee from Minnesota
Aug 10 2019 // Mendota Insurance Company and Mendakota Insurance Company have completed relocating their corporate headquarters and changing their state of domicile from Minnesota to Tennessee, according to a statement from the Tennessee...
Execs: Wholesalers at Center of Topa Plans After Acquisition of California Insurer
Aug 9 2019 // Two key executives involved in the acquisition of Topa Insurance Group by Altamont Capital Partners who spoke about the deal were emphatic about one thing: wholesalers will continue to be the center of the company’s...
Hurricane Barry Cost Economy $600M, Insurers $300M: Aon Catastrophe Report
Aug 9 2019 // Total economic losses, largely flood-driven, were expected to exceed US$600 million, while public and private insurers paid out nearly US$300 million, said Aon in its latest edition of its monthly Global Catastrophe Recap...
