Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. and EU Reach Agreement on Insurance Regulation
Jan 13 2017 // United States and European Union negotiators say they have reached an agreement on reinsurance and insurance regulation. The agreement covers three areas of insurance oversight: reinsurance, group supervision and the...
Main Street America Promotes Kusch to EVP, Insurance Operations
Jan 12 2017 // The Main Street America Group announced Jeff Kusch, who has led the company’s field sales function for the past two years, has been promoted to executive vice president, insurance operations. In addition to...
Insurers Object to Workers’ Comp Reform Proposal in Illinois
Jan 11 2017 // Insurance industry lobbying groups are speaking out against a proposed amendment to an Illinois statute that would give insurance regulators in that state more control over workers’ compensation rates. Illinois House...
India to Open High-Tech Financial Hub for Banks, Insurers
Jan 10 2017 // Prime Minister Narendra Modi is set to inaugurate an international exchange in Gujarat state’s new finance zone, seeking to grab some of India’s $48 billion in offshore banking activities from Singapore, Dubai...
Today’s Insurance Agency E&O Costs, Coverage and Claims
Jan 10 2017 // Independent agency owners spend their entire careers worrying about the risks and exposures of others. Managing the risks of their own agencies can take a backseat to helping their clients. While agents appreciate the...
How to Help Insureds Manage Customer Privacy Risk
Jan 9 2017 // Insurance carriers and agents have come to learn that increased data can lead to greater risk for insureds, and they are increasingly advising businesses to disclose data collection practices while seeking to gain...
Top 10 Personal Auto Insurers and Today’s Market: A.M. Best
Jan 9 2017 // The U.S. personal auto insurance industry saw net premiums written grow 5.1 percent in 2015 — a rate of growth that may not be repeated as rising loss ratios weaken both underwriting and operating results, according...
West Regulation Report Card: California Most Politicized State
Jan 9 2017 // A report gives California’s insurance regulatory environment low marks for auto body repair rules, the insurance commissioner’s call for insurers to divest from coal, its prior approval law and being the...
Federal Insurance Chief McRaith Leaving Post on Jan. 20
Jan 6 2017 // Michael McRaith, who has served as director the Federal Insurance Office since its creation in 2011, is resigning his post as of Jan. 20. as the Trump Administration begins. McRaith announced his plan to leave the agency...
Randall & Quilter Acquires Captive Insurer Clariant Insurance AG
Jan 6 2017 // R&Q Insurance (Malta) Ltd. (R&Q) announced it has acquired the entire issued share capital of Clariant Insurance AG from its owners Clariant AG. Clariant Insurance, or CI, was formed in 2005 as the Liechtenstein...
Device Insurer Bought by Allstate for $1.4 Billion Lost Money Last 5 Years
Jan 5 2017 // – Allstate Corp. said that the mobile-device insurer that it acquired for $1.4 billion had posted five years of losses before the deal. SquareTrade Holding Co.’s annual loss narrowed to $26.5 million in 2015...
China Regulator Proposes Insurer Ownership Limits to Curb Risky Investments
Jan 5 2017 // Proposed ownership limits at Chinese insurance companies could effectively stop conglomerates such as China Evergrande Group and Baoneng Group from using their insurance units to help fund acquisitions and riskier...
Economical Completes Purchase of Canada’s Largest Pet Insurer
Jan 4 2017 // Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced the completion of its previously announced acquisition of Western Financial Insurance Co. (WFIC) and its...
Israeli Government Opposes Sale of Insurers to Chinese Investors: Source
Jan 4 2017 // Israel’s Finance Ministry opposes the sale of insurance companies to Chinese investors because it’s hesitant to put pension money in their hands, a senior government official said, a stance that could bode ill...
RenaissanceRe Forms Special Purpose Insurer Fibonacci Re
Jan 4 2017 // Renaissance Reinsurance Ltd. announced the formation of Fibonacci Reinsurance Ltd., a special purpose insurer domiciled in Bermuda. Fibonacci Re was formed to provide collateralized capacity to Renaissance Reinsurance, the...
Global Natural Catastrophes Cost Insurers $50B in 2016: Munich Re
Jan 4 2017 // Insurers paid out around $50 billion for natural disaster claims last year, almost double 2015’s payout of $27 billion, reinsurer Munich Re said in its annual natural catastrophe review on Wednesday. Earthquakes in...
New York Issues First-in-Nation Regulation on Commercial Crime Insurance
Jan 3 2017 // New York State’s Department of Financial Services (DFS) in December issued a new regulation that prohibits insurance companies from denying commercial crime insurance coverage to New York businesses employing people...
New York Announces Health Insurance Reforms to Combat Opioid Crisis
Dec 30 2016 // Governor Andrew M. Cuomo has announced that new health insurance reforms aimed at combatting New York State’s heroin and opioid crisis will go into effect January 1, 2017. These reforms were part of the legislative...
How Agents Feel About Their Compensation from Carriers… and Other Matters
Dec 30 2016 // On a first quarter results call W.R. Berkley Corp. President and CEO Robert Berkley cited a growing and alarming level of tension between carriers and distributors, driven by what he called a fight to grow margins in the...
Obamacare Individual Market Profitability Outlook Improving, Says S&P
Dec 29 2016 // The Affordable Care Act (ACA) individual market has proven a tough nut to crack for U.S. health insurers, with the benefit of strong premium growth offset by persistent underwriting losses for most insurers. But 2016 is...
