Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Individual Health Insurance Market Stabilizing, Not Collapsing: Kaiser
Jul 12 2017 // Insurer financial data through the first quarter of 2017 suggest the individual health insurance market has been stabilizing and insurers in this market are regaining profitability, finds a new analysis from the Kaiser...
Carrier Poll Shows Many Agents Expect Minor Tech Disruption by 2020
Jul 11 2017 // A new poll conducted by a Seattle, Wash.-based carrier that asked independent insurance agents what’s ahead in 2020 showed that roughly half of agents expect technology disruption to have a minor impact on their...
Former Texas Businessman Gets 7 Years for Scamming London Insurer
Jul 11 2017 // A former Texas businessman was sentenced to seven years in prison and ordered to repay nearly $4 million in an insurance scam targeting a British company. Federal prosecutors say 66-year-old Wesley Michael Woodyard was...
Insurers Say Legal Malpractice Claims Hold Steady But Defense Costs Rise
Jul 11 2017 // Most leading legal malpractice insurers saw their claims level off in 2016 although their cost to defend claims continued to escalate. A study by insurance broker Ames & Gough finds that while the number of new...
How Insurers Can Tap Valuable Revenue Stream Using Their ‘Data Exhaust’
Jul 11 2017 // The chief executive officer of Quandl is on a mission to let insurance companies know that their data is valuable and professional investors will pay them for it. But a lot of insurers are oblivious to that...
Grenfell Tower Insurer, Protector Forsikring, Raises Claims Estimate to $65M
Jul 10 2017 // The insurer of London’s Grenfell Tower, where at least 80 people died in a devastating fire, raised its estimate for property and liability insurance claims to 50 million pounds ($65 million) on Friday [July...
Court: Insurer Off the Hook for $500K Settlement to Florida Spa Guest
Jul 10 2017 // A federal appeals court ruled that Evanston Insurance Co. doesn’t owe a $500,000 settlement that a Florida spa owner agreed to pay to a woman who suffered a stroke during a massage. The decision, issued last month in...
State of P/C Insurance Industry, Part 1: The Fate of ‘Hard Market’ Agencies (and Companies)
Jul 10 2017 // Property/casualty (P/C) insurance and group benefits industry is changing faster than ever. Many factors are the parents of such change. In part one of this two part series, I will focus on the more traditional aspects and...
South Carolina Sets Insurer Deadline Related to New Moped Safety Law
Jul 10 2017 // The South Carolina Department of Insurance has set a deadline for auto insurers in the state to meet the requirements of recently passed moped safety legislation. The new moped law, which took effect July 1, amends South...
California Surplus Lines Don’t Want to be Left Out of State’s Marijuana Regs
Jul 10 2017 // California’s surplus lines industry is trying to clear up the haze over a proposed regulation that would require medical marijuana businesses to purchase insurance only from admitted carriers. The regulation is one...
Burand’s State of P/C Insurance Industry Part 2: How to Pick Winners as More Carriers Consolidate or Waste Away
Jul 9 2017 // Editor’s Note: This is the second of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s...
Days of Cyber Insurers Avoiding Costly Claims May Be Numbered: Expert
Jul 7 2017 // Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over...
Arkansas Commissioner Kerr Approves 3 New Insurers in State
Jul 7 2017 // Arkansas Insurance Commissioner Allen Kerr has granted Certificates of Authority to three out-of-state insurance companies to do business in Arkansas. The Arkansas Insurance Department reported that COPIC Insurance Company...
Startup Auto Insurer Root Expands by 2 States, Pairs with Lyft on Rental Coverage
Jul 6 2017 // Startup telematics-based auto insurer Root is now offering rental coverage in partnership with ridesharing firm Lyft. For policyholders with short-term needs for alternate transportation after an incident, Root will now...
AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million
Jul 6 2017 // AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international...
Connecticut Insurers: Homes Must Fall Down to be Eligible for Coverage
Jul 5 2017 // Connecticut residents whose home foundations are crumbling are facing a perplexing problem with their insurance policies: The damage won’t be covered unless their homes collapse. More than two dozen insurance...
Fearless Brokers on Disruption by Insurtech: ‘Bring It On’
Jul 5 2017 // Executives of retail and wholesale property/casualty brokers, who have heard predictions about disintermediation for years, are not worried about the latest wrinkle in the stories of their demise—the rise of insurtech...
Workers’ Comp Insurer Cancels Policies for Hawaii Pot Firms
Jun 30 2017 // Hawaii’s largest workers’ compensation insurer is canceling insurance policies for seven medical marijuana dispensaries preparing to open this summer. Hawaii Employers’ Mutual Insurance Co., citing...
Insurers Say They Need Access to Data from Automated Car Systems
Jun 30 2017 // Property/casualty insurance carriers want future federal rules governing driverless vehicles to guarantee insurers “reasonable” access to data from cars with automated driving systems. “The increasing...
Global Shipping Still Reeling from Cyber Attack; Insurers Warn of Coverage Gaps
Jun 30 2017 // Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected...
