Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Michigan Senate Passes Plan to Cut Car Insurance Rates
May 8 2019 // Michigan’s Senate has passed legislation aimed at cutting the country’s highest average auto insurance premiums by eliminating a requirement that drivers buy unlimited medical benefits to cover crash...
Progressive Rolls Out Small Business Insurance Comparison Quoting Platform
May 8 2019 // Ohio-based national insurer Progressive has joined the ranks of carriers offering small businesses a platform to buy insurance quickly and simply. The insurer’s new online BusinessQuote Explorer (BQX) delivers...
Iowa Court: No Claim for Workers’ Comp Insurer’s Failure to Inspect Workplace
May 8 2019 // Iowa’s high court has ruled in favor of a workers’ compensation insurer in a case in which a group of employees and former employees of a manufacturing plant alleged that the insurer failed to protect workers...
The Next Insurance Battleground: High-Value Customers
May 8 2019 // Competition is tightening across the P&C insurance market. With just 2 percent of new consumers entering the personal lines auto insurance market last year, and with retention rates hovering around 88 percent, most...
Insurers of Collapsed Florida Bridge Builder to Pay $42M to Victims
May 8 2019 // Insurers will pay up to $42 million to surviving victims of a 2018 Florida bridge collapse and the families of those killed, under a deal announced Friday between the now-bankrupt construction company that built the...
Update: Generali Eyes Acquisitions of Small and Medium-Sized European Insurers
May 7 2019 // Italy’s biggest insurer Generali is looking at small and medium-sized insurance companies in Europe to strengthen its presence in the region, it said on Tuesday. Generali said in November it had up to 4 billion euros...
Buffett Has Eyes on Competitor Progressive, Not Car Makers Entering Insurance
May 7 2019 // Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional...
A Case for Updated Insurance Licensing Exemption Regulations
May 6 2019 // Harken back to 2002 — a time when iPhones, Android phones, even Blackberries, had yet to be introduced. Facebook, Twitter and YouTube were years away from their debuts, and streaming content on Netflix was still a...
Resolving Insurance Coverage and Claims Disputes: Advocacy
May 6 2019 // In the past two columns, we’ve examined the importance and value of avoiding or preventing claim denials so we don’t have to deal with resolving them, especially with the specter of litigation hovering over us....
The Need for Agents (to Do Their Jobs)
May 6 2019 // I received a nice notice from my commercial GL carrier advising the coverages at renewal would materially change. Admitted carriers have to provide such notices (E&O point: exceptions to this rule do exist, even for...
Michigan Governor Orders Study of Insurers’ Use of Non-Driving Rating Factors
May 2 2019 // Gov. Gretchen Whitmer has ordered a review of how Michigan’s auto insurers use non-driving factors such as education and credit scores to set premiums that rank among the nation’s highest. The Democrat’s...
Talanx Acquires P/C Insurer in Turkey from Munich Re Subsidiary
May 2 2019 // The German insurer Talanx has acquired the property/casualty insurer ERGO Sigorta A.S. from a Munich Re subsidiary. Financial details of the transaction where not disclosed. Talanx purchased ERGO Sigorta from ERGO...
Markel Subsidiary State National to Provide Fronting for Tesla’s New Insurance Venture
May 2 2019 // Elon Musk’s Tesla plans to launch its own insurance product for Tesla drivers, which will be fronted by Markel Corp.’s subsidiary, State National. Markel’s Co-Chief Executive Officer Richard R. Whitt...
Canadian Banks, Insurers Tap Blockchain Technology to Verify Client Identities
May 2 2019 // Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services. SecureKey Technologies...
Sue, Settle, Mediate, Litigate. RIMS Covers the Bases on Dispute Resolution
May 2 2019 // Sue or settle? Mediate or litigate? Attorneys and risk managers on Tuesday tapped into years of experience to suggest strategies that will lead to the right approach for resolution of claim disputes during the Risk and...
A Quick First Look at Florida’s New AOB Bill
May 1 2019 // I have a new hobby. It compliments one of my other hobbies, reading insurance policies. What is it? I’ve started reading legislation. What a thrill to print (yes, print) 16 pages of legislation. The numbered lines,...
Will UK Insurers and Banks Be EU Rule Takers or Rule Makers, After Brexit?
May 1 2019 // A group of banks are directly feeding the British government ideas for a Brexit financial services trade deal, bypassing the industry’s major lobby groups after their blueprint for a future relationship with the EU...
China Plans to Further Relax Rules for Foreign Banks and Insurers
May 1 2019 // China will further relax rules for foreign banks and insurers of all sizes that plan to invest in the domestic industry, the latest round of easing amid efforts to conclude a trade deal with the U.S. The China Banking and...
High Net Worth Insurer Vault Expands Into 3 States in Northeast
May 1 2019 // Vault, an insurer focused on the needs of the high net worth market, has received approvals to underwrite in Connecticut, New Jersey and Pennsylvania. This adds to their existing operations in Florida and South Carolina...
Industry Veterans Catlin and Brand Launch Specialty Bermuda Re/Insurer Convex Group
Apr 30 2019 // Insurance industry veterans Stephen Catlin and Paul Brand announced they have launched an international specialty insurer and reinsurer, Convex Group Ltd. Convex launches with $1.8 billion of initial committed capital and...
