Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
In Race for New Personal Lines Insurance Business, Exclusive Agents at Disadvantage
Apr 26 2019 // Personal lines insurers have only one option when it comes to growing their business: they must steal market share from competitors. That’s because each year brings very few new customers. Only about two to three...
Lloyd’s Innovation Drive Faces Headwinds from Some Brokers, Underwriters
Apr 26 2019 // Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. Old-fashioned business practices, exposure to natural disasters, competition from rival centers and Brexit...
Minnesota AG: For-Profit Health Insurers Could Raid State’s Reserves
Apr 25 2019 // Minnesota Attorney General Keith Ellison has called on lawmakers to reverse a consequence of 2017 law that repealed the state’s ban on for-profit health maintenance organizations, saying for-profit companies could...
Direct-to-Consumer Auto Insurers Grabbing Market Share
Apr 25 2019 // Direct-to-consumer auto insurers appear to be gaining serious market traction, according to a report from J.D. Power. The firm reports that auto insurance revenue hit $245 billion in 2018, reflecting industrywide growth of...
Japan Insurers to Invest in Riskier Non-Government Bonds, Seeking Higher Returns
Apr 25 2019 // As bond yields evaporate globally, many Japanese insurers are looking to secure higher returns at home and abroad by diversifying into riskier corporate and other non-government bonds in the financial year that began this...
Florida Governor to Sign AOB Reform Bill; Citizens Plans Rate Review
Apr 25 2019 // Florida Governor Ron DeSantis has signaled his support of a property insurance reform bill passed by the Florida Senate Wednesday, saying in a statement Wednesday he will sign the legislation that the insurance industry...
Newfront Insurance in California Names Kaneko Head of Carrier Relations
Apr 25 2019 // Newfront Insurance in California has named Garett Kaneko head of carrier relations. Kaneko will manage external market relations and partner strategy as well as overall business and growth strategy for Newfront. Kaneko has...
Update: Florida Legislature Passes Industry-Backed AOB Reform Bill
Apr 24 2019 // After seven years of failed attempts, Florida legislators have passed property insurance reform to address the abuse of a policyholder benefit known as assignment of benefits (AOB). The insurance industry and consumers...
Wading Through Coverage Differences in Expanding Private Flood Insurance
Apr 24 2019 // It has been a long-held insurance axiom that flood is not considered an insurable peril due to its potentially catastrophic nature. Here is what the report, “Affordability of National Flood Insurance Program...
