Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Heat Is on Florida Lawmakers to Fix Assignment of Benefits Crisis
Feb 15 2017 // Florida’s insurance industry will apply significant pressure on lawmakers to pass assignments of benefit (AOB) reform in the upcoming legislative session as consumers face rate increases and a looming coverage...
NSW Bushfires to Cost Insurers at Least US$15.3M: Insurance Council
Feb 14 2017 // The Insurance Council of Australia (ICA) has declared an insurance catastrophe for bushfires that have destroyed homes, stock and other assets across New South Wales, providing an initial insured loss estimate of at least...
Insurers Find Fault With Report Over How Auto Insurers Treat No-Fault Accidents
Feb 14 2017 // A national consumer group has charged that innocent drivers in most states are being forced to pay more for auto insurance for accidents in which they are not at fault. The report from the Consumer Federation of America...
California Court Says Commissioner Can Prohibit Pass Thru of Advertising Costs
Feb 13 2017 // A California Court of Appeal had decided in favor of California Insurance Commissioner Dave Jones in a case against Mercury Insurance Co. and a coalition of insurance industry groups, which sued Jones to challenge his...
Why Predictive Modeling Is Gaining as Fraud Fighting Tool
Feb 13 2017 // Declining costs, the availability of cloud storage and the rise of telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims Solutions at Verisk...
South Dakota Lawmakers Reject Insurer Tax Credit Disclosure
Feb 13 2017 // South Dakota lawmakers have rejected a bill that was meant to increase transparency in the state’s school choice scholarship program. The bill, voted down 9-6 in the House Education Committee, would have required...
Nat Cats Cost Insurers $39.5B in 2016, Highest Level in 4 Years: Willis Re
Feb 10 2017 // Insured loss estimates from major natural catastrophes totaled US$39.5 billion during 2016, which is the highest level since 2012 when market losses totaled US$60 billion, according to a report published by Willis Re, the...
Prem Watsa’s Fairfax to Pay $144M for New Zealand-Based Insurer
Feb 10 2017 // Fairfax Financial Holdings Ltd. will pay $144 million for New Zealand insurer Tower Ltd., giving it an instant, significant presence in a growing, emerging market. Tower’s board of directors has already unanimously...
Health Insurers Weigh Next Moves After Striking Out on Mergers
Feb 10 2017 // After 18 months of courtship and court cases, two massive deals that would have reshaped the U.S. health insurance industry have both been declared dead, blocked by judges who said they’d do unacceptable harm to...
Florida’s AOB Abuse by the Numbers: ‘Alarming Trend’ Reaches Crisis Point
Feb 9 2017 // Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from...
Severe U.S. Weather During January Cost Insurers More Than $1B: Aon
Feb 9 2017 // Major weather and flood events in the U.S. during January will cost the insurance industry more than $1 billion as tornadoes hit a 17-year high, according a report published by Impact Forecasting, Aon Benfield’s...
China Regulator Urges Insurers to Avoid ‘Reckless’ Offshore Investments: Report
Feb 9 2017 // A senior Chinese insurance regulator warned against the industry’s reckless overseas investment, saying some insurers behaved recklessly when it came to offshore acquisitions, the official Securities Times reported...
Why the Insurance Industry Supports and Hires Veterans
Feb 8 2017 // Many property/casualty insurance carriers have focused their charitable efforts on veterans, and they’ve done so for a number of good reasons. One important reason for adopting veterans causes was explained by Glenn...
Demotech Suspends Florida Insurer Rating Criteria; Says Downgrades Coming
Feb 7 2017 // Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers...
Ups Beat Downs in P/C Insurer Credit Ratings in 2016: A.M. Best
Feb 7 2017 // Credit rating activity in 2016 turned positive as upgrades outpaced downgrades for the U.S. property/casualty industry, despite insurers having to face pressure on underwriting results and a low investment yield...
Correction: Mass. Court Reviews Assessment of Damages Against Insurer in Shuttle Bus Accident Case
Feb 7 2017 // The Supreme Judicial Court in Massachusetts has ruled that post-judgment interest is not included in any enhanced damages in connection with damages that have already been awarded under the Massachusetts Consumer...
Brazil Healthcare Insurer Intermédica Prepares for IPO: Sources
Feb 7 2017 // Brazilian healthcare services provider NotreDame Intermédica Sistema de Saude SA has hired banks to manage its initial public offering, which could be launched with a series of investor meetings as early as this week, two...
Group in Oregon City Is Suing Its Carrier over a Fire Payout
Feb 6 2017 // The Eugene Civic Alliance in Oregon has sued its insurance carrier for more than $325,000 after the burning of Civic Stadium. The Register-Guard reported that the nonprofit group wants to build a new complex on the former...
Massachusetts Court Reminds Auto Insurers of Importance of Retail Book Value
Feb 6 2017 // A Massachusetts appeals court used a recent case to warn auto insurers about the importance of taking retail book value into consideration early in the settlement process. While the court ruled in favor of defendant...
S&P: P/C Insurers Could See Potholes in 2017 as Earnings Outlook ‘Isn’t Too Pretty’
Feb 6 2017 // This year will be a turning point for the U.S. property/casualty (P/C) insurance sector, as rising claims outpace pricing and reserve releases materially decrease. But it will not be a “softer for longer” rate...
