Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
After Catastrophes, ‘Pricing Complacency,’ P/C Insurers Face Real Test in 2018: S&P
Jan 29 2018 // While the U.S. property/casualty insurance sector passed the capital test in 2017, a year with record catastrophe losses, insurers will face the real test in 2018 if catastrophe losses come close to last year’s...
Satisfied Independent Agents Are Growth Engines for P/C Carriers: J.D. Power
Jan 26 2018 // Despite the growth of both technology-based and direct-to-customer sales channels in the property/casualty (P/C) insurance industry, independent agents still control the lion’s share of P/C premiums and represent a...
California-based Law Firm Representing Insurers Takes ‘Solution-Oriented’ Approach
Jan 25 2018 // It’s no coincidence that the word “solutions” is included in the name of a new law firm representing insurers that recently launched in California. Woods Group Solutions, headquartered in Sonoma, Calif.,...
Audit Finds Lax Monitoring of $7B in Illinois Medicaid Payments to Insurers
Jan 25 2018 // Illinois Gov. Bruce Rauner’s administration cannot adequately account for more than $7 billion paid to Medicaid insurance providers in 2016, an audit released on Jan. 23 found. The critical review by Auditor General...
Startup Neptune Offering Digital Private Flood Product to Agents, Carriers in Nationwide Expansion
Jan 25 2018 // A digital startup private flood insurance provider, Neptune Flood, has secured $2 million in seed round funding and has plans to “aggressively expand” nationwide by offering its platform to carriers, agencies...
P/C Insurers’ Bottom Line Should Benefit from Trump Tax Cut
Jan 25 2018 // Federal tax reform was a big topic of discussion at the Insurance Information Institute’s 2018 P/C Joint Industry Forum, with panelist Jay Gelb of Barclays Capital stating the recently passed tax law is going to be...
Florida Agents March on State Capitol in Lawmaker Push to Reform AOB
Jan 25 2018 // More than 125 insurance agents from across Florida, along with members of the Consumer Protection Coalition (CPC), march to the Florida Capitol on Wednesday to highlight the need for Assignment of Benefits (AOB) reform....
California Commissioner Wants Insurers to Pass Tax Savings to Policyholders
Jan 23 2018 // California Insurance Commissioner Dave Jones wants insurers in his state to pass along savings from taxes expected to be generated by the new tax bill passed in Congress recently. “The recent revision to the Federal...
Airbus Looks to Insurers to Fill Export Trade Funding Gap After Europe’s Freeze
Jan 23 2018 // Airbus said on Monday it is working with private insurance firms and banks to help fill a two-year gap in trade funding left by a European freeze on government export credits, but expects limited public financing to resume...
Ratings Outlooks Revised to Positive for South Dakota Insurer
Jan 22 2018 // A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Northwest G.F. Mutual Insurance Co. (NWGF)...
Oklahoma Says Farmowners Insurance Program Insurer, Rockingham, not Licensed
Jan 22 2018 // The Oklahoma Insurance Department says a farmowners insurance program being advertised in Oklahoma is not valid because the insurer, Rockingham Casualty Co., is not licensed to operate in the state. In early January,...
Insurer Loses Michigan Suit; Finds Policy Language Costly
Jan 22 2018 // A dispute over four words will cost an insurance company about $200,000. A federal appeals court in Michigan has ruled in favor of a man in the Grand Rapids area who suffered serious injuries during a motorbike crash in...
Florida Appeals Court, Regulator Reject Policy Language Aimed at Curbing AOB Abuse
Jan 22 2018 // A Florida appeals court has sided with the state’s insurance regulator in rejecting policy language filed by a Florida homeowners insurer to restrict the use of assignment of benefits. The decision could have a...
Insurers Off The Hook for West Virginia Hole-in-One Tournament Payouts
Jan 22 2018 // A federal appeals court says Gov. Jim Justice’s charity is stuck with almost $200,000 in payouts made to fans at the 2015 Greenbrier Classic tournament after two golfers aced the 18th hole at his resort in southern...
Commercial Automobile Remains Sore Spot in P/C: A.M. Best
Jan 19 2018 // The performance of the commercial automobile segment continued to deteriorate through third quarter 2017, according to a new A.M. Best report. Commercial auto has been a sore spot in the property/casualty for several...
Tennessee Captive Insurance Companies Exceed $1 Billion in Premiums
Jan 19 2018 // The state of Tennessee saw domestic captive insurance companies exceed $1 billion in written premiums in 2017 for the first time – a milestone for Tennessee’s burgeoning captive insurance marketplace. In addition...
Insurers Increasing Payments to California Wildfire Victims Sans Itemization
Jan 18 2018 // California Insurance Commissioner Dave Jones on Thursday released the results of the formal notice he issued last month to all residential property insurers requesting they provide up to 100 percent of contents coverage...
For Florida Insurer American Integrity, Giving Back is Part of Company Culture
Jan 18 2018 // American Integrity Insurance Group’s charitable efforts have become an integral part of the company’s culture, and not just during the holiday season. The Florida-based insurer, which formed in 2006, began...
Just a Few Thoughts About Assignments of Benefits
Jan 17 2018 // You may have figured out that I like to watch the insurance news. I mean, I work for the company that produces my favorite insurance news (Insurance Journal) and I don’t say that just because I work here. I was an IJ...
Report Shows Florida AOB Abuse Worsening as Lawmakers Consider Reforms
Jan 17 2018 // The 2018 Florida Legislative Session is underway, and lawmakers have wasted no time taking up legislation to address the assignment of benefits crisis plaguing the state. While they debate which reform option to back,...
