Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Report Says Record Number of Data Breach Notices Filed in New York in 2017
May 23 2018 // The New York Attorney General’s Office (NYAG) this year released a report outlining a record number of data breach notices filed with the office in 2017 – the highest since NYAG started receiving data breach...
New Jersey Reminds Residents, Insurance Companies to Prepare for Hurricane Season
May 22 2018 // The New Jersey Department of Banking and Insurance is urging the insurance and banking companies it regulates, as well as New Jersey residents, to prepare now for hurricane season, which officially begins June 1. All...
U.S. Cyber Market Grew 32% in 2017 But Most Small-Medium Firms Opted Out: A.M. Best
May 21 2018 // The U.S. market for cyber insurance grew significantly in 2017, as direct premiums written rose nearly 32 percent year over year to $1.8 billion, and policies in force jumped 24 percent to 2.6 million, according to an A.M....
Washington Orders Microsoft to Stop Using Captive Insurer
May 21 2018 // Washington’s insurance commissioner issued a cease and desist order against Microsoft Corp. to stop using its Arizona-domiciled captive, Cypress Insurance Co. Insurance Commissioner Mike Kreidler’s cease and...
Insurers’ Worst Fear: Cyber Hurricane or Silent Cyber?
May 21 2018 // Insurers in the cyber insurance segment have enjoyed exponential growth in the market over the last 10 years, and that is expected to continue as the world becomes even more connected via the internet. But while the growth...
Channel Harvest Survey: Where Do Carriers Fall Short of Agent Expectations?
May 21 2018 // There appears to be a misalignment between carrier performance and independent agents’ expectations in both personal and commercial lines. These are selected findings of “Agent Voices 2018,” a...
N.Y. Updates Insurance Company Disaster Response, Recovery Plan Requirements
May 21 2018 // The New York Department of Financial Services (DFS) has issued updated disaster response and recovery plan requirements for all insurance companies licensed to conduct business in New York state. It issued these updated...
California Man Nabbed for Getting Comp from Multiple Insurers While Working
May 21 2018 // Michael Williams, 34, of Daly City, Calif., was arrested on 21 felony counts of insurance fraud and grand theft after allegedly working for multiple employers while collecting over $85,000 in workers’ compensation...
California Commissioner Ran a Climate Change ‘Stress Test’ on Insurers
May 21 2018 // California Insurance Commissioner Dave Jones has run a “stress test” on the state’s largest insurers. Jones said during a press conference in May that he is the first U.S. financial regulator to conduct a...
Global Insurers Reassessing Iran Business In Light of Sanctions Threat
May 20 2018 // Global insurers are taking stock of how the U.S. withdrawal from an international agreement to deny Tehran nuclear weapons, and threatened sanctions against companies that do business with Iran, could affect...
Insurers Urge Focus on Safety and Data Sharing in Autonomous Vehicles
May 18 2018 // While automated driving systems hold great promise to save lives and reduce crashes, the focus must remain on validating the safety of the technology every step of the way, according to the National Association of Mutual...
After Tax Cuts, Insurers Shy Away from Muni-Bonds
May 18 2018 // Some of the biggest U.S. insurers reduced their holdings of state and local government bonds after the corporate tax cut took effect this year, marking a retreat by a key buyer in the $3.9 trillion municipal-securities...
It’s Up to Insurers to Prevent Brexit Disruption of Policies, Warns EU Chief
May 17 2018 // There is no guarantee that Brexit won’t disrupt millions of insurance and derivative contracts and it is still up to firms to take preventive measures, the European Union’s financial services chief said on...
Age of Insurtechs Poses Unique Challenges for Surplus Lines Insurance Industry
May 17 2018 // Over the last year or so, the insurance industry has seen technological advances driving new products and distribution means to market. We have seen “insurtech” blossom from a term to describe the intersection...
MGA Boost Provides Insurtechs with Insurer Access, Backend Operations
May 17 2018 // Boost Insurance has nailed down a dedicated reinsurance facility to help support its B2B insurtech development platform. Nephila is leading the facility with participation from Markel Digital, the insurtech group within...
Commercial Auto Insurers Catching Up with Telematics
May 17 2018 // Though adopted early by personal lines insurers, telematics technology is just coming into its own in the commercial auto space. Powered by InsuranceJournal.tv According to Zach Schmiesing, director, Commercial Lines,...
Lloyd’s CEO Beale Urges Regulators to ‘Keep Up’ with Insurers’ Technology
May 17 2018 // As insurers try to innovate and address the rapidly changing needs of their clients, Lloyd’s of London CEO Inga Beale has a message for regulators who oversee them: “Try and keep up.” Beale, speaking May...
Dutch Insurer NN Group Quits Tobacco Investments
May 17 2018 // Dutch insurer NN Group will no longer invest in the tobacco industry and said on Thursday it aims to divest all tobacco-related holdings on its own accounts and in the funds of its asset manager within a year. NN’s...
Deciphering ‘Good Faith’ for Insurers Defending Coblentz Agreements in Florida
May 17 2018 // Since the 1969 seminal case of Coblentz v. Am Surety Co. out of the Fifth Circuit Court of Appeals that found an insurer that breaches its duty to defend must pay the amount of damages stipulated to between the claimant...
You Can’t Just Say “Yes, There’s Coverage”
May 16 2018 // A couple of recent articles in Insurance Journal highlighted an important issue that exists in light of coverage and how hard it is to answer a question broadly. The problem (broadly) is that no two carriers’...
