Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
$65M of Unpaid Taxes by New Mexico Insurance Companies, Audit Shows
Oct 26 2017 // A long list of insurance companies failed to pay taxes on insurance premiums of nearly $65 million to the state of New Mexico since 2003, according to an independent audit released Tuesday that could weigh in ongoing legal...
Hiscox Appoints Veys from UK Insurer LV= as Chief Investment Officer
Oct 26 2017 // Specialist global insurer Hiscox has appointed Alex Veys as chief investment officer. Veys will take over the position from David Astor, who is retiring in 2018 after 15 years at Hiscox. Veys has more than 30 years’...
Saudi Insurers Need More Consolidation, Foreign Input, Says Regulator
Oct 26 2017 // Saudi Arabia’s insurance industry needs more consolidation and foreign input to help create solid companies capable of competing in the oil-rich nation’s crowded market, the country’s central bank chief...
Dutch Insurer Aegon Eyes Acquisitions Such as Smaller Competitor ASR
Oct 23 2017 // Aegon NV, the Dutch insurer that generates most of its business from the U.S., is scouting for acquisitions and has looked at companies including smaller rival ASR Nederland NV amid consolidation in the domestic market,...
Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire
Oct 23 2017 // Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries...
Admitted Carriers, CanaBOP Coming to California’s Cannabis Industry
Oct 20 2017 // The first admitted insurance carrier has filed to provide coverage to California’s legal cannabis industry and several more carriers have stated their intent to file products, according to state Insurance...
Northern California Wildfires: Insurance Industry Ready to Assist With ‘Massive’ Recovery
Oct 20 2017 // Rebuilding the Northern California areas devastated by wildfire will be a long-term effort, and insurers say they will be there to help their affected policyholders get back on their feet. Tens of thousands of evacuees...
Detroit Mayor, Statehouse Leaders Take Another Shot at Michigan No-Fault Reform
Oct 18 2017 // The state that long has been home of the American auto industry also long has taken a unique approach to auto insurance. The Great Lake state is the only one in the country that requires auto insurance policies to pay...
Ex-Mayor of Tulsa, Oklahoma: Insurer’s $4M Payout for Lost Ring not Enough
Oct 18 2017 // The former mayor of Tulsa, Oklahoma, is suing an insurance company and broker because she says the $4 million she received for a lost blue diamond ring isn’t enough. The Tulsa World reports that Kathy Taylor’s...
China Delivery Firm ZTO Joins Consortium to Set Up Logistics Insurer – to Fill Coverage Gap
Oct 18 2017 // ZTO Express (Cayman) Inc., a Shanghai, China-based express delivery company, announced it has joined a seven-member consortium of its peers to set up a logistics insurer. ZTO said the insurer is being launched to fill the...
Citing ‘Social Good,’ Insurer Lemonade Adds Restrictions to Firearms Coverage
Oct 17 2017 // Online home and rental insurer Lemonade has said it is limiting its coverage for gun owners as part of its commitment to “make insurance into a social good.” Citing the recent Las Vegas mass shooting, Lemonade...
U.S. Homeowners’ Premiums Grow Despite Insurers’ Decreasing Return on Equity: Aon Benfield
Oct 17 2017 // When this year’s results are tallied, direct U.S. homeowners’ insurance premiums will have continued to grow, despite a decreasing return on equity for insurers. According to Aon Benfield’s annual...
Carriers, Reinsurers Under Review as A.M. Best Changes Credit Rating Methodology
Oct 17 2017 // Insurance rating agency A.M. Best announced the publication of the updated Best’s Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups that the rating...
Gov. Brown Signs Bill that Could Energize Insurance Markets
Oct 16 2017 // Given the far-reaching nature of some of the bills that Gov. Jerry Brown signed into law in recent weeks, it’s no surprise that a relatively minor tweak to the insurance code didn’t muscle its way onto the...
Bill to Lower Michigan Auto Insurance Premiums on Shaky Ground
Oct 16 2017 // Legislation to reduce Michigan’s high auto insurance premiums by letting drivers opt out of mandatory unlimited medical coverage is in peril, with majority Republicans lacking enough support to pass it on their own...
California Wildfires Threaten Significant Losses for P/C Insurers, Moody’s Says
Oct 16 2017 // Moody’s released a report on Monday assessing the impact of the wildfires in California on property/casualty insurers. “Based on history and the number of structures damaged, insured losses will run into the...
Hiscox Re Offers Private Label Flood Insurance Endorsement for U.S. Insurers
Oct 16 2017 // Bermuda-based reinsurer Hiscox Re, along with insurance linked securities investors (ILS), has launched a flood insurance product for personal lines insurers to sell in the U.S. The turnkey flood insurance product, named...
Acquiring Insurers Underperformed in 2016: Willis Towers Watson
Oct 16 2017 // Research from Willis Towers Watson published earlier this month revealed that insurers doing acquisitions in 2016 underperformed in comparison to peers that stayed away from M&A. WTW used a performance measure based on...
Q3 Catastrophe Losses Will Bring Rate Hikes by London Market Insurers: Fitch
Oct 16 2017 // Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers’ loss-affected lines and could also affect wider market pricing trends, according to Fitch...
Directors for Hawaii Workers’ Comp Insurer HEMIC Declare $3.5M Dividend
Oct 16 2017 // The board of directors of Hawaii Employers’ Mutual Insurance Company Inc. has declared a $3.5 million dividend payable to qualifying policyholders. This is $500,000 dollars more than HEMIC’s dividend last year,...
