Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Government and Benefactors, Not Insurers, to Bear Cost of Notre Dame Rebuilding
Apr 16 2019 // Major European insurers expect France to bear the bulk of the cost of rebuilding the Notre-Dame Cathedral after a fire tore through the eight-centuries-old Paris landmark on Monday. The cost of a likely multi-year...
Why Uber ‘Depends Heavily’ on Insurance
Apr 15 2019 // Uber Technologies Inc., on its way to an initial public offering that some media reports say could raise $10 billion, might not be in the position it is in without insurance. “Our business depends heavily on...
Insurers Are Curious, Cautious When It Comes to Chatbots for Claims
Apr 15 2019 // The insurance industry is slowly recognizing the potential of chatbots to free up resources and improve customer service, even as it recognizes the potential of the technology to sour relationships with customers,...
AM Best Upgrades Issuer Credit Rating of Louisiana Workers’ Comp Insurer Stonetrust
Apr 12 2019 // AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating of B++ (Good) of Stonetrust Commercial Insurance Co....
Texas Releases New Guidelines for Insurer Catastrophe Data Collection, Reporting
Apr 12 2019 // Applying lessons learned after Hurricane Harvey, the Texas Department of Insurance has upgraded its procedures for collecting and reporting data following a disaster. TDI recently released its new catastrophe data...
Foreign Insurers Eye China’s $1.6 Trillion Private Pension Business
Apr 12 2019 // Foreign insurers including Generali and Prudential Plc are in early talks with authorities to enter China’s private pensions sector, people with knowledge of the matter said, as Beijing opens up to overseas...
Fitch Warns Bond Insurers After Court’s Puerto Rico Bankruptcy Ruling
Apr 12 2019 // A U.S. Appeals Court ruling last month in Puerto Rico’s bankruptcy led Fitch Ratings on Thursday to place seven city, school, and health care ratings in states including Illinois and California on a watch list for...
Canada Insurer The Co-operators Buys Robinson & Associates Insurance Brokers
Apr 12 2019 // Canadian insurer The Co-operators announced it has purchased Robinson & Associates Insurance Brokers in Niagara Falls and Ridgeway, Ontario. Financial details of the deal were not disclosed. The brokerage’s...
California Committee Passes Bill to Require Large Insurers to Report Supplier, Governing Board Diversity
Apr 10 2019 // California’s Senate Insurance Committee on Wednesday passed legislation aimed at promoting diversity in the state’s insurance industry. Senate Bill 534, introduced by Sen. Steven Bradford, D-Gardena, would...
Louisiana Workers’ Comp Insurer Declares $51M Policyholder Dividend
Apr 10 2019 // Baton Rouge, Louisiana-based workers’ compensation mutual insurer, LWCC, will distribute a $51 million dividend for 2018 to more than 20,000 policyholders in mid-April. This amount represents one-fourth of the...
What’s In Store for Insurance Industry As It Enters Post-Digital Era?
Apr 10 2019 // The insurance industry is entering a new “post-digital” era where success is based on an organization’s ability to master artificial intelligence (AI) and other new technologies. The post-digital era...
NCDOI: State’s Captive Insurance Program Continues Steady Growth
Apr 10 2019 // North Carolina continues to experience growth in its captive insurance industry as it enters its sixth year and has emerged as one of the nation’s leading captive insurance domiciles, according to a statement from...
Insurers Oppose Premium Tax to Fund Washington’s Wildfire Prevention
Apr 9 2019 // Lobbyists for the property/casualty insurance industry are trying to prevent a $125 million jump in the state of Washington’s insurance premium tax that would fund wildfire prevention and suppression. The tax would...
Insurers Pitch Quick-Paying Parametric Disaster Insurance to Public Sector
Apr 9 2019 // Some of the world’s largest insurers are eagerly pitching cities, states and even school districts on policies designed to pay out quickly with few questions in the event of extreme weather. The catch: Even a...
North Carolina Insurance Fraud Round-Up: March
Apr 9 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of March 2019. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to North...
Opioid Trial Winds Down; Insys Execs Deny Bribing Doctors, Duping Insurers
Apr 5 2019 // A U.S. prosecutor portrayed Insys Therapeutics Inc. founder John Kapoor and other former executives as greedy and heartless during closing arguments in their racketeering trial over the promotion of the opioid painkiller...
Microsoft Insurer Loses Bid To Recoup $175M from Xbox Chipmaker Hit by Fire
Apr 4 2019 // Microsoft Corp.’s captive insurer has lost its bid to recover $175 million in costs the software maker said it incurred in 2013 to replace memory chips that a manufacturer failed to deliver because of a fire at the...
Gramercy Risk Holdings Acquires New York’s Executive Insurance Company
Apr 4 2019 // Gramercy Risk Holdings LLC, a Uniondale, N.Y.-based insurance holding company, has acquired Executive Insurance Company, a New York-domiciled admitted insurance company. Following the acquisition, Executive will be renamed...
How Insurtech Will Revolutionize Inland Marine by Cutting Costs
Apr 4 2019 // Insurtech advances will soon drive down unacceptably high expense ratios in the inland marine sector, making it possible to insure even hard-to-place, small or one-off inland marine risks at the best possible...
Insurer to Pay $325K in Wisconsin City’s Harassment Suit Settlement
Apr 3 2019 // The Wisconsin city of Mondovi will settle a lawsuit filed against its former mayor by a police officer who claimed she was denied a promotion for reporting the mayor’s unwanted advances to her superiors. The former...
