Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Domestic Insurer Sawgrass Mutual to ‘Wind Down’ Operations
Sep 4 2017 // Just after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company revealed it was placed under administrative supervision by the Florida Office of Insurance...
25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew
Sep 4 2017 // Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew...
Texas Workers’ Comp Division Releases Disaster Guidelines for Insurers
Aug 31 2017 // The Texas Department of Insurance – Division of Workers’ Compensation has issued guidelines for insurers concerning workers’ compensation claims filed by insureds in counties named in Gov. Greg Abbott’s...
Update: Claims Teams Begin Handling Onslaught of Harvey Claims
Aug 31 2017 // Hurricane Harvey has set a U.S record, according to the National Weather Service, dumping 51.88 inches of rain in parts of Texas. As the tropical storm moves over southern Louisiana, claims catastrophe teams are moving in...
Tallying Massive Costs of Harvey to Victims, Insurers, Taxpayers and Economy
Aug 31 2017 // Hurricane Harvey’s costs to the victims in its path, to U.S. taxpayers, to insurers and to the economy were still being calculated on Wednesday, with few firm estimates available yet. Texas could need more than $125...
Law’s Ambiguity a Source of Mixed Messages Over Texas Cat Claims Statute
Aug 30 2017 // Ambiguity surrounding a Texas law that goes into effect on Sept. 1 has insurance industry representatives and attorneys who represent insurance policyholders sending conflicting messages to insureds who may have suffered...
UK Insurers Face Looming Brexit Deadline to Move Contracts with EU Clients
Aug 30 2017 // Insurers in Britain face crunchtime within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit. While Britain is not due to leave the...
Insurers Deploy Drone Fleets to Speed Harvey Disaster Recovery
Aug 30 2017 // Fleets of commercial drones are primed to hover over the destruction from Tropical Storm Harvey in an unprecedented test of unmanned aircraft’s ability to assess billions of dollars in damage for the insurance...
Banks Seek More Insurance Protection Against Cyber Attacks, Rogue Traders
Aug 30 2017 // Banks are increasingly turning to insurance to protect their capital from “operational risks” like cyber attacks and rogue traders, and insurers say they can help safeguard lenders by providing an extra layer...
S&P: Primary P/C Insurers, Not Reinsurers, to Bear Brunt of Harvey’s Insured Losses
Aug 29 2017 // While it’s too early to accurately quantify the insured losses related to Hurricane Harvey, primary insurance carriers — as opposed to reinsurers — would retain the majority of losses, according to analysts at...
Texas Regulators Offer Guidance to Insurers on Harvey Response
Aug 29 2017 // The Texas Department of Insurance has issued several bulletins offering guidance to insurers related to Hurricane Harvey, which made landfall near Rockport, Texas, late on Aug. 25. The bulletins are in response to the...
P/C Insurers Lost $5.1 Billion on Underwriting in First Half of 2017: A.M. Best
Aug 29 2017 // The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the same period a year...
Insurers Will Easily Swallow Harvey’s Claims but Growing Climate Risk Predicted
Aug 29 2017 // Damages from Hurricane Harvey’s ravaging of Houston and the Texas Gulf Coast are estimated to be well below those from the major storms that hit New Orleans and New York in recent years, insurance executives have...
Lloyd’s Insurers’ Stocks Fall on Possible Claims from Hurricane Harvey
Aug 29 2017 // Lloyd’s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that’s battering Houston, the epicenter of the U.S. oil industry. The storm, which which made landfall...
Harvey’s Insured Losses Hurt Insurers’ Stocks, Could Boost Reinsurers’ Prices
Aug 29 2017 // Hurricane Harvey’s whipsaw of wind and rain across Houston and the Texas Gulf Coast hurt the shares of U.S. property and casualty insurers on Monday as Wall Street analysts estimated insured losses as high as $20...
Typhoon Hato Will Have Limited Financial Impact on Macau Insurers: A.M. Best
Aug 28 2017 // Typhoon Hato will have only a moderate impact on the earnings of rated non-life insurers in Macau, and a limited effect on their financial strength, according to A.M. Best. On Aug. 23, 2017, Typhoon Hato (Category 2 on the...
25 Years Later…What If an Andrew-Type Storm Hit Florida Today?
Aug 28 2017 // Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of...
A.M. Best Weighs Hurricane Harvey’s Financial Hit; Ranks Top 30 Texas Insurers
Aug 25 2017 // With Hurricane Harvey threatening the Texas coastline, A.M. Best said it has begun to assess the potential financial impact this event may have on the U.S. property/casualty (P/C) industry. The most recent track of Harvey...
AXIS Sweetens Offer for Lloyd’s Specialty Carrier Novae to $611.5M
Aug 25 2017 // AXIS Capital Holdings Ltd. has substantially sweetened its offer for Novae Group plc, a Lloyd’s of London specialty insurer and reinsurer. AXIS, a Bermuda-based specialty insurer and reinsurer, said it will now pay...
Home Telematics Startup Roost Raises $10.4M from Insurers
Aug 25 2017 // Roost, a developer of home telematics for property insurance carriers, raised $10.4 million from three international insurance industry companies. Aviva Ventures led the Series B financing; Desjardins Insurance and Fosun...
