Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
5 Reasons Cyber Security Is Failing and What P/C Insurers Can Do About It
Aug 18 2017 // Businesses are spending a small fortune on cyber security but what they are doing is not working very well, according to a cyber security expert who sees the insurance industry as a key to improving the...
Report: Written Premiums for California Comp Insurers to be Flat Through 2017
Aug 17 2017 // Written premiums from workers’ compensation insurers in California for the year are expected to be flat at $18.1 billion compared with 2016 thanks largely to rate decreases, according to analysts with the...
Maryland’s Frederick Mutual Insurance Company Promotes Pelletier
Aug 17 2017 // Frederick Mutual Insurance Company (FMIC), a Frederick, Md.-based provider of insurance coverage for homeowners and businesses, has promoted Bob Pelletier from assistant vice president and claim manager to vice president...
Making the Adjustment
Aug 16 2017 // This post is part of a series sponsored by CoreLogic. The Modern Age of Desk Adjusting for the Insurance Industry Deploying adjusters to the field is a large overhead cost for insurance companies. Incoming claims vary in...
Obamacare Individual Premiums Would Rise 20% Without Insurer Subsidies: CBO
Aug 16 2017 // Health insurance premiums for many customers on the Obamacare individual insurance markets would be 20 percent higher in 2018 if U.S. President Donald Trump follows through on a threat to stop billions of dollars of...
