Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Doctors, Insurer Propose Tracking Patients’ ‘Social Conditions’ for Referrals
Apr 2 2019 // If you get struck by lightning or bitten by a pig, a physician can record that information with a code shorter than your phone number. But if you can’t afford your bills, doctors and health plans have no consistent...
From Insurers to Traders to Retailers, More Industries Depend on Weather Tracking
Apr 1 2019 // Every uptick in wind speed along the Gulf of Mexico shoreline is of enormous interest to Mike Eilts. Eilts, senior vice president for weather at DTN, a Minnesota-based analytics firm, knows that an unexpected cold front in...
How Disasters, Tax Reform Affected P/C Insurers’ Performance in 2018
Apr 1 2019 // Mainly due to above-average catastrophe losses, the aggregate financial performance of U.S. publicly traded property/casualty insurers deteriorated slightly in 2018, according to a new A.M. Best special report. The...
Insurer Introduces Revolutionary 3-Word Personal Insurance Policy
Apr 1 2019 // APRIL 1, 2019 — An insurance company that says it wants to simplify insurance has whittled its personal insurance policies for families down to three words. The new product, named TriWord, bundles property and casualty...
Workers’ Comp and the Gig Economy: Status Quo Remains, for Now
Apr 1 2019 // The rise of an on-demand economy once threatened to put workers’ compensation insurers in the hot seat, in large part because the question of how the sector could, or should, cover these individuals remained...
Insurers Cautious About Marijuana Insurance Market
Apr 1 2019 // The marijuana industry is an opportunity for insurers as more states have legalized the drug. But there are still risks in play that could limit wider carrier participation, A.M. Best said in a new report, “Cannabis:...
How Drones and Aerial Imagery Use Rose to New Heights Post 2018 Catastrophes
Apr 1 2019 // The importance of drones and aerial imagery rose to a new level in the wake of 2018 natural catastrophes as insurers made them an integral part of their disaster recovery procedures, particularly following the hurricanes...
Today’s Hot Markets
Apr 1 2019 // Telemedicine, Breweries, Intellectual property, Nurseries and Cottage foods Insurance Journal examined industries experiencing changes, challenges, expansions and growth in the past year. Here are five industry sectors and...
8 Things to Consider When Buying or Selling an Insurance Agency
Apr 1 2019 // Insurance agency acquisitions and deal values are near an all-time high and all expectations are that deal flow in 2019 will match or exceed last year’s numbers. And while reported numbers tend to skew towards larger...
