Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Increase in P/C Insurers’ Losses in 2017 Will Again Be Driven by Auto: S&P
Jun 29 2017 // Private auto net incurred losses will increase by nearly 7 percent in 2017 to a new record of approximately $154 billion, reflecting elevated volume and costs of claims, according to a new S&P Global market...
G20 Task Force Develops Climate-Related Financial Disclosure Framework Supported by Insurers
Jun 29 2017 // A global task force set up by the G20 has developed a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities, drawing support from more than 100 companies with $11...
Auto Insurance Market to Shrink by 70% by 2050: KPMG
Jun 29 2017 // Autonomous vehicle technology, a rise in on-demand transportation and a shifting of liability to manufacturers will shrink the auto insurance sector by more than 70 percent or $137 billion by 2050, according to updated...
P/C Insurers’ Net Income Fell 42.2% in Q1; Catastrophe Losses Topped $7 Billion
Jun 27 2017 // The U.S. property/casualty insurance industry saw its net income fall to $7.7 billion in first-quarter 2017 from $13.4 billion in first-quarter 2016, a 42.2 percent decline. Also, its overall profitability as measured by...
$300K Settlement in 2012 Utah Fire to be Paid by Insurer
Jun 26 2017 // Utah officials have reached a $300,000 settlement with a man accused of starting a 2012 fire that led to the evacuation than 1,000 northwestern Utah homes. The Daily Herald reported the Utah County Commission approved the...
Survey: Agents Suggest How Carriers Can Move from ‘Good’ to ‘Great’
Jun 23 2017 // One would expect to see high levels of satisfaction between an independent agency and its top carrier, but that isn’t always the case. Peeling back the layers usually reveals fertile ground for improvement and shows...
Randall & Quilter to Sell Lloyd’s Agency to Medical Liability Insurer Coverys
Jun 23 2017 // Randall & Quilter Investment Holdings Ltd. announced it has reached agreement to sell the entire share capital of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of...
12 States Call Out California’s ‘Affront to Sound Insurance Regulation’
Jun 22 2017 // It’s difficult to decide whether Dave Jones is underdog prize fighter Rocky Balboa or reigning champ Apollo Creed. He’s the insurance commissioner of the most populated state in the nation and that makes him a...
House Committee Adds 5 More Bills to Its Flood Insurance Reform Package
Jun 22 2017 // The House Financial Services Committee advanced five flood insurance proposals on Wednesday, adding to the two bills it passed last week. The House measures seek to reform and reauthorize the National Flood Insurance...
The Hanover & Chaucer Launch Dublin-Based International Specialty Insurer
Jun 22 2017 // The Hanover Insurance Group, Inc. and its subsidiary, Chaucer, announced that they will form a Dublin-based company, Chaucer Insurance Co. DAC (Chaucer Dublin), to write international specialty insurance business. The...
South Carolina Sets Insurer Deadline Related to New Moped Safety Law
Jun 22 2017 // The South Carolina Department of Insurance has set a deadline for auto insurers in the state to meet the requirements of the recently passed moped safety legislation. The new moped law, which takes effect July 1, amends...
Kentucky Supreme Court Finds No Bad Faith as a Matter of Law in Auto Lawsuit
Jun 21 2017 // The Kentucky Supreme Court in Hollaway v. Direct General Ins. Co. Mississippi Inc., 497 S.W. 3d 733 (Ky. 2016), recently affirmed summary judgment that was granted in favor of the insurance company, finding that the...
Texas Governor Signs Law Amending Captive Insurer Rules
Jun 21 2017 // Texas Gov. Greg Abbott has signed a measure that tweaks Texas law relating to captive insurance companies. Abbot signed House Bill 1944 on June 15. The bill was authored by Jim Murphy (R – Houston) and sponsored in...
U.S. Firms Issue Principles for Cyber Risk Ratings Used by Insurers
Jun 21 2017 // More than two dozen U.S. companies, including several big banks, have teamed up to establish shared principles that would allow them to better understand their cyber security ratings and to challenge them if necessary, the...
California Commissioner ‘Undeterred’ by Challenges to Climate Disclosure Initiative
Jun 20 2017 // California Insurance Commissioner Dave Jones responded to challenges to his calls for insurers to disclose their investments in fossil fuels. Oklahoma’s attorney general has sent a letter to Jones threatening legal...
Oklahoma AG Threatens California Commissioner on Insurer Fossil Fuel Rules
Jun 20 2017 // Oklahoma’s attorney general has sent a letter to California’s insurance commissioner threatening legal action if that state continues with its policy of requiring insurance companies to publicly disclose...
California Surplus Lines Don’t Want to be Left out of State’s Marijuana Regs
Jun 20 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...
Legacy Specialist Compre to Acquire Irish Captive Insurer Equinox CA Europe
Jun 20 2017 // Compre, the independent insurance and reinsurance legacy specialist, today announces it has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin. The...
UK, EU Insurers & Banks Need ‘New System’ for Their Post-Brexit Business
Jun 20 2017 // British and European Union banks need a new system to let them do business with each other after Brexit to avoid splitting markets, Britain’s finance minister Philip Hammond said on Tuesday. Britain, the EU’s...
7 Tips for Start-ups Partnering with Incumbent Insurers: Trōv Founder Walchek
Jun 20 2017 // Trōv is a tech start-up that’s introducing the world to a new way to insure their things: on-demand for any duration, entirely from a smartphone. We’ve had to reinvent the insurance value-chain — from...
