Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
How Florida Insurers Can Prepare for Claims from a Major Hurricane
Aug 31 2016 // After eight hurricanes in two years between 2004 and 2005, we haven’t seen a hurricane in Florida for over 10 years. Has the state learned from those storms? Are the insurance companies ready? What about the...
Iowa in Middle of Debate Over ‘Shadow Insurance’ Deals
Aug 31 2016 // For cash-strapped life insurance companies, the deal sounds almost too good to be true: A state law allows them to create complex financial instruments to transfer liabilities to new subsidiaries, instantly wiping huge...
Brexit Vote Prompts Inquiries from Insurers Weighing Opening Offices in Dublin
Aug 30 2016 // Ireland says the Brexit vote has led to a jump in inquiries from London firms considering opening offices in Dublin, one of a handful of European cities trying to draw business away from Britain’s financial...
Low Interest Rates Pose Unknown Risks for European Insurers: CEO of Gjensidige
Aug 30 2016 // Cheap money could have unknown consequences for Europe, according to the chief executive officer of Gjensidige Forsikring ASA, Norway’s largest listed insurer. “It’s a sign of sickness for the economies...
P/C Insurers Must Improve Underwriting Amid Competitive Pressures: Fitch
Aug 30 2016 // Property/casualty insurers in North America saw their operating income decline by double digits in the first half of 2016, as investment income plunged and catastrophe losses rose. Fitch Ratings looked at 44 insurers and...
New Illinois Law Makes Insurance Companies Find, Pay Beneficiaries
Aug 29 2016 // Illinois Gov. Bruce Rauner has signed legislation requiring insurance companies to locate beneficiaries of unclaimed life insurance policies and pay them money they’re owed. The Republican said Friday the state also...
Everest Re Completes Crop Insurer Sale to CGB Diversified Services
Aug 26 2016 // Everest Re Group Ltd. has finalized the sale of its U.S. crop managing general agent, Heartland Crop Insurance Inc., to CGB Diversified Services, Inc. for $49 million. In conjunction with the sale, Everest has entered into...
Norwegian Insurer Eyes First Sale of Industry’s Riskiest Bonds
Aug 25 2016 // Gjensidige Forsikring ASA is on track to become the first insurer to issue a new type of bond that will become the industry’s riskiest debt. The Norwegian company may sell as much as 1 billion kroner ($120 million)...
Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports
Aug 24 2016 // The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the...
Venture Capital, Traditional Insurer Interest in Insurtech Remains High
Aug 24 2016 // Even though venture capital investments in venture capital-backed financial technology (fintech) companies fell more than 50 percent globally during the second quarter of 2016, interest in insurance technology startups...
China’s Anbang Insurance Readies for 2017 IPO: Sources
Aug 23 2016 // Anbang Insurance Group Co., the Chinese owner of New York’s Waldorf Astoria hotel, has asked banks to pitch for role on a planned Hong Kong initial public offering next year, according to people with knowledge of the...
66% of Insurers Plan Increased Hiring Over Next Year: Study
Aug 22 2016 // More than 66 percent of insurance companies intend to increase staff during the next 12 months, according to a new midyear labor study. That rate is the highest in the history of the study, The U.S. Insurance Labor Outlook...
Lloyd’s Insurer ArgoGlobal Grabs O’Gorman from CNA to Lead Marine Team
Aug 22 2016 // ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the appointment of Steve O’Gorman as head of Marine, effective Aug. 22. He reports to Bruno Ritchie, director of underwriting and active...
North Carolina Court Upholds Commissioner’s 25% Rate Increase Rejection
Aug 22 2016 // North Carolina’s insurance commissioner had plenty of justification to reject a 2014 request by insurers to raise homeowners’ premiums by an average of 25 percent, the state Court of Appeals ruled Aug....
Families of 3 Exonerated Men Settle for $16.5M with Mississippi Counties, Insurers
Aug 22 2016 // A $16.5 million settlement has been reached in a lawsuit that claims three Mississippi men were imprisoned for decades for a crime they did not commit, lawyers said. According to The Hattiesburg American, a settlement...
The Top 10 Things Sharp Brokers Should Consider When Placing Cyber Liability
Aug 22 2016 // The insurance marketplace for cyber liability is constantly evolving. Technology is always improving, the level of data security and awareness is escalating and the tools used by the criminals and the bad actors are...
Texas Man in Tesla Autopilot Crash Won’t Sue, But Car Insurer May
Aug 19 2016 // A Texas man said the Autopilot mode on his Tesla Model S sent him off the road and into a guardrail, bloodying his nose and shaking his confidence in the technology. He doesn’t plan to sue the electric-car maker, but...
Louisiana Reminds Insurers of Flooded Vehicle Requirements
Aug 18 2016 // The Louisiana Department of Insurance has issued a reminder to insurance companies regarding the Certificate of Destruction title requirements for flooded vehicles. The department issued the bulletin following the federal...
Florida Insurers UPC Insurance, American Coastal Insurance Enter Merger Agreement
Aug 18 2016 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, has entered into a merger agreement with RDX Holding, LLC, the parent of American Coastal Insurance Co. (ACIC or American...
Illinois Treasurer Looking into How Life Insurance Companies Avoid Payouts
Aug 17 2016 // Illinois Treasurer Michael Frerichs is launching a series of public hearings to explore how life insurance companies avoid paying death benefits. The first hearing is set for this morning in the city council chambers in...
