Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
What Cyber Insurance Industry Learned from 2017 Hacks
Mar 13 2018 // The NotPetya, WannaCry and Equifax hacks of last year were evidence that the U.S. insurance industry has been ill-prepared to handle a large cyber attack and needs to up its game. However, as a consequence of the attacks...
Insurer for Oregon City to Pay $800K to Family of Man Killed By Police
Mar 12 2018 // The insurance company for the central Oregon city of Bend will pay $800,000 in a settlement agreement with the family of a man shot and killed by a Bend police officer. The Bulletin reports that the city in the agreement...
How Insurer and Benefit Manager Mergers Squeeze Out Smaller Pharmacies
Mar 12 2018 // Over 20 years, Brian Komoto built a thriving pharmacy in California’s Central Valley. Each day, his nurses would travel the vast agricultural region’s roads to help hepatitis C patients take a grueling regimen...
Montana Judge Rules Against in Insurer in $43M Asbestos Settlement
Mar 9 2018 // A Montana judge says a Nebraska-based insurance company is liable for a $43 million settlement between the state and people sickened by exposure to asbestos from a Libby vermiculite mine. National Indemnity Co. paid $16...
Cigna’s Proposed Acquisition of Express Scripts Faces Antitrust Review
Mar 9 2018 // Cigna Corp.’s proposed deal for Express Scripts Holding Co. faces a drawn-out merger review as the Trump administration’s antitrust enforcers weigh the competitive effects of a wave of consolidation sweeping...
Lara, Poizner and Others Vying to be California Insurance Commissioner
Mar 8 2018 // The race is on for the California insurance commissioner posts as we are nearly three months from the primary, but you wouldn’t know it by speaking to people in the insurance industry. Most insurance groups and...
Cigna to Buy Pharmacy Benefits Manager Express Scripts for $52 Billion
Mar 8 2018 // U.S. health insurer Cigna Corp. struck a $52-billion deal to buy pharmacy benefits manager (PBM) Express Scripts Holding Co on Thursday, looking for new ways to hold onto their profits as the industry faces greater...
California Commissioner Orders Insurer to Halt Operations over Insolvency Risk
Mar 7 2018 // California Insurance Commissioner Dave Jones has issued a cease and desist order against Access Insurance Co., which requires it to immediately stop transacting, soliciting, negotiating, or administering and writing any...
Insurers May Be on Hook for Dole Buyout Lawsuit Settlements
Mar 7 2018 // A Delaware judge says insurers may be on the hook for $190 million to settle two lawsuits stemming from a 2013 buyout in which Dole Food chairman and CEO David Murdock took the company private. In a ruling late last week,...
Tax Law Will Benefit U.S. P/C Insurers, Says Moody’s
Mar 7 2018 // The impact of the new U.S. tax law is credit positive for U.S.-based insurance companies, which will boost profitability for many of these firms, particularly those that have been paying high effective tax rates. The Trump...
UK’s Prime Minister Defends Decision to Reject EU ‘Passporting’ for Insurers, Banks
Mar 5 2018 // Prime Minister Theresa May defended her decision to rule out so-called “passporting” rights for banks after Brexit, saying Britain could not become a “rule taker” when it came to financial...
U.S. Supreme Rules Against Insurer’s Appeal Challenging Profits in Rate Setting
Mar 5 2018 // The U.S. Supreme Court in late February declined to hear Mercury Insurance Co.’s appeal to overturn a February 2017 California Court of Appeal ruling that held Insurance Commissioner Dave Jones’ 2013 order...
5 Strategies for Success in Small Business Market
Mar 5 2018 // The small business market is big. The U.S. small commercial market represents about one-third of the total commercial lines market and generates between $99 billion and $103 billion in direct written premium, according to...
How 2017’s Disasters Will Help People Start Viewing Mitigation as an Investment
Mar 5 2018 // Although clear challenges can come with the increasing cost and frequency of global natural disasters, there could also be untapped opportunity for insurers to tackle coverage gaps, according to industry...
France’s AXA to Acquire P/C Insurer XL Group for $15.3 Billion
Mar 4 2018 // AXA SA agreed to buy XL Group Ltd. for $15.3 billion in cash, seeking to capture a bigger slice of the U.S. property and casualty market as premiums rise after last year’s natural disasters. The French insurer is...
Virginia’s Kinsale Insurance Company Promotes Muntean
Mar 2 2018 // Kinsale Insurance Company, a Richmond, Va.-headquartered specialty insurance group focused on the excess and surplus lines market, has promoted Victoria Muntean to division manager of its Products Liability Division,...
Agent and Carrier Strategies and the Future of Cyber Insurance
Mar 2 2018 // More than 20 years ago, Steven Haase wrote the first cyber insurance policy. Haase told Insurance Journal the story of how that first policy came about in the first part of this report, What Agent Who Wrote First Cyber...
Insurer AmTrust Unveils $2.7 Billion Plan to Go Private
Mar 1 2018 // As promised last month, the majority shareholders of AmTrust Financial Services Inc. have set forth a $2.7 billion plan to take the insurer private. The deal is being funded by founding family members and shareholders...
Insurance Company Gives Delaware $325K in Grants for Opioid Crisis
Mar 1 2018 // An insurance company has given four Delaware organizations $325,000 in grants to combat the state’s opioid crisis. The News Journal of Wilmington reports Highmark Delaware President Tim Constantine announced the...
20-Plus Insurers, Banks & Fund Firms Select Luxembourg as Post-Brexit HQs
Mar 1 2018 // More than 20 major international institutions chose to set up all or part of their activities in Luxembourg last year, the country’s financial development agency said on Thursday, linking the decisions to...
