Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Texas Windstorm Insurer Says It’s Ready for Harvey
Aug 24 2017 // The Texas Windstorm Insurance Association said it has initiated its catastrophe plan and that it is ready for Tropical Storm Harvey. Tropical Storm Harvey has crossed the boundaries of 80 degrees west longitude and 20...
Mitsui Sumitomo Buys Singapore’s First Capital Insurance from Fairfax for $1.6B
Aug 24 2017 // Mitsui Sumitomo Insurance Company (MSI) is acquiring Singapore’s First Capital Insurance for $1.6 billion from Canada’s Fairfax Financial Holdings, in the biggest takeover by a Japanese insurer in populous...
25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew
Aug 24 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...
Illinois Governor Vetoes 1 of 2 Workers’ Comp Bills Opposed by Insurers
Aug 23 2017 // Illinois Gov. Bruce Rauner has vetoed a workers’ compensation reform bill that has been strongly opposed by the insurance industry. Rauner on Aug. 18 vetoed HB 2622, which would have created the Illinois Employers...
Florida Domestic Insurer Sawgrass Mutual to ‘Wind Down’ Operations
Aug 23 2017 // Just a day after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company has revealed it is under administrative supervision by the Florida Office of Insurance...
A.M. Best Assigns ‘A’ Rating to New Texas Insurer, Starr Specialty
Aug 23 2017 // Ratings agency, A.M. Best, has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Starr Specialty Insurance Co. (Starr Specialty),...
Idaho City Tells Insurer to Pay For Children’s Chemical Burns
Aug 22 2017 // The city of Lewiston has decided to pay medical bills for children from two families who suffered chemical burns at a park. The children were burned after city employees left a toxic paint stripper applied to graffiti near...
Online Property Management Service Cozy Takes On Renters Insurance Market
Aug 22 2017 // The renters insurance market has been a hard nut to crack for the industry, but an insurance carrier and online rental service platform hope their partnership may be the secret to breaking through. Cozy, an online property...
As Congress Eyes Flood Insurance Renewal, Private Markets Get Ready
Aug 21 2017 // Unleashing the invisible hand that has been missing from the flood insurance market for nearly 50 years is no easy task. But private flood insurance experts say the change would be a good thing not only for private flood...
2 Nebraska Contractors Routinely Sue Insurers for Not Paying Storm Damage
Aug 21 2017 // Two Omaha contractors are expanding a legal strategy they say forces insurance companies to pay for storm damage, but industry officials say the practice leads to exaggerated claims and may drive away insurers. Home repair...
Indian IPOs Headed for Record Year as Insurers Seek to Raise Funds
Aug 21 2017 // Indian initial public offerings are headed for a record year, as a rush of insurers seek to ride a rally in the local market and tap increasing investor demand for financial assets. At least four Indian insurers are aiming...
Delaware Governor Carney Signs Insurance Consumer Fairness Bill
Aug 21 2017 // On Tuesday, Aug. 1, 2017, Delaware Governor John Carney signed into law House Substitute 1 for House Bill 80 (HS 1 for HB 80), a consumer fairness bill that targets unfair discriminatory practices by automobile and...
Pennsylvania Commissioner Miller: Individual Market Instability Will Raise Costs
Aug 21 2017 // Pennsylvania Insurance Commissioner Teresa Miller issued a letter to federal Department of Health and Human Services Secretary Tom Price detailing the urgent need for stability in the individual health insurance market as...
Beacon Mutual’s New CEO Spero: ‘We’re Within an Hour of Every Policyholder’
Aug 21 2017 // The board of directors of Beacon Mutual Insurance Company, a Warwick, R.I.-based workers’ compensation carrier, has elected Brian Spero as president and CEO of the company, effective in July. Beacon’s board...
Health Insurers Will Get August Obamacare Payments Trump Threatened to End
Aug 20 2017 // The government will make this month’s payments to insurers under the Obama-era health care law that President Donald Trump still wants to repeal and replace, a White House official said Wednesday. Trump has...
Industrial Insurer HDI Global Forms Excess Surplus Lines Carrier
Aug 18 2017 // Industrial insurer HDI Global Insurance Co. (HDI) has formed an excess and surplus lines subsidiary, HDI Specialty Insurance Co. The new platform will “bring European expertise and solutions” to the alternative...
