Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. P/C Insurers’ Net Income Increased 69% in 2018: A.M. Best
Jun 27 2019 // The U.S. property/casualty industry showed a year-over-year 69% increase in net income to $59.2 billion in 2018, owing to lower losses from catastrophic events, favorable development of prior years’ loss reserves and...
What Passed, What Didn’t: New Florida Laws Taking Effect July 1
Jun 27 2019 // The Florida Legislature looked at and passed many pieces of legislation in the 2019 session that will impact the insurance industry. The following are summaries of what passed — and what didn’t. What Passed HB 7065...
Georgia Court: Insurer Can’t Deny Coverage Despite Misinformation on Application
Jun 27 2019 // An insurer that extended its workers’ compensation coverage for 90 days after discovering the employer had violated the terms of its policy could not then deny coverage for a claim on the grounds that those terms had...
Data-Driven Insurance Future Clouded by Data Ownership Uncertainty
Jun 26 2019 // Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out...
Tokio Marine Puts UK Insurer into Run-Off, Now Focusing on Lloyd’s Business
Jun 25 2019 // Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd’s businesses. The run-off plan will be...
Supreme Court to Hear Fight Over $12 Billion Obamacare Payments to Insurers
Jun 25 2019 // The U.S. Supreme Court on Monday agreed to decide whether insurers can seek $12 billion from the federal government under a program set up by the Obamacare law aimed at encouraging them to offer medical coverage to...
Trump Moves to Force Hospitals, Insurers to Disclose Prices
Jun 25 2019 // The Trump administration took a step toward making paying for health care more like paying for coffee, computers or clothing, by letting patients know prices up front — but what consumers could do with that...
Texas Windstorm Insurer Funded at $4.2 Billion for 2019 Hurricane Season
Jun 24 2019 // Texas’ insurer of last resort for properties in counties along the state’s coastline says it has $4.2 billion in available funds as this year’s hurricane season gets underway. By comparison, at the start...
Idaho Crop Insurance Company Will Pay $3.48M in Lawsuit
Jun 24 2019 // A crop insurance company has agreed to pay a southwestern Idaho farming family $3.48 million following a lawsuit. The Idaho Statesman reported that the Farm Bureau Mutual Insurance Company of Idaho agreed to pay Nate and...
Dutch Insurer Weighs Cutting Cover for Gambling, Arms, Nuclear Power
Jun 24 2019 // Europe’s biggest insurers refuse to sell policies to coal miners and arms producers. A Dutch firm may go further by denying coverage to gambling companies and nuclear-power generators. The asset-management arm of ASR...
How the Florida ‘Omnibus’ Insurance Bill Will Impact Insurer Duty to Defend, Appraisal
Jun 24 2019 // While most of the news out of the 2019 Florida Legislative Session surrounding insurance has focused on House Bill 7065 and the wide-spread assignment of benefits (AOB) reform it promises, another piece of legislation that...
What to Expect in Agency Technology
Jun 21 2019 // To say the agency technology space is robust is an understatement. Right now, the industry is seeing an “onslaught of technology available to enable agents and brokers to better manage, not only their business, but...
Notes on Public Adjusters
Jun 19 2019 // I recently had a conversation about public adjusters. Here’s the short version of that conversation. What is a public adjuster? Would you recommend someone use a public adjuster? That made me think that we could...
Caribbean Insurers’ Net Income Rebounds After 2016-2017 Hurricane Seasons: AM Best
Jun 19 2019 // An analysis of AM Best-rated property/casualty insurers based in the Caribbean found that overall net income rebounded significantly following the 2016-2017 hurricanes to $32.2 million in 2018 compared with a $4.3 million...
State of the Cyber Insurance Market- Top Trends, Insurers and Challenges: A.M. Best
Jun 18 2019 // The cyber insurance market continues to grow and underwriting performance in this line remains strong, according to a new industry report. Direct premiums written for both standalone and packaged cyber policies grew about...
Court Relieves Insurers of $65 Million Payment Linked to Stanford Ponzi Scheme
Jun 18 2019 // A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110-year prison term for...
What to Expect from Florida’s AOB Reform Law Taking Effect July 1
Jun 18 2019 // The countdown is on for Florida assignment of benefits (AOB) reform that will take effect July 1, and the insurance industry is getting ready to respond to new requirements as a result of the law as well as evaluating how...
Insurer Must Cover Defendant in Fatal Bathroom Fight Lawsuit
Jun 17 2019 // A Delaware judge says an insurance company must extend liability coverage to a teenager who was convicted of criminally negligent homicide after a school bathroom attack captured on cellphone video that left a 16-year-old...
Iranian Forces Were Likely Responsible for Attacks on Tankers, Says Insurer DNK
Jun 17 2019 // Iranian forces were likely responsible for the attacks that occurred Thursday on two tankers in the Gulf of Oman, according to a report seen by Bloomberg from DNK, the insurer of one of the ships. The Norwegian insurer has...
Kochilaris Joins Florida Homeowners Insurer Olympus as Sales Manager
Jun 17 2019 // Florida-based Olympus Insurance Co. has added Nathan Kochilaris as the company’s new Southwest Florida Sales manager. Kochilaris will work under Vice President of Sales and Marketing Crystal McInnis. Kochilaris has...
