Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Watford Specialty Looking to Build Program Business with U.S. Acquisition
Aug 17 2016 // Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of...
Washington Commissioner Fines Pet Insurer for Violating State Laws
Aug 16 2016 // Washington Insurance Commissioner Mike Kreidler has fined a pet insurance company $150,000 for violating state laws. Kreidler sayid his agency issued fines in July against American Pet Insurance, which goes under the name...
Insurer Agrees to $100K Settlement in Washington Dog Shooting Suit
Aug 16 2016 // An insurance company contesting an arbitrator’s award following the shooting death of a dog by a neighbor has agreed to settle for $100,000. The Seattle Times reported Liberty Mutual settled with the attorney...
Florida Homeowners Insurer Olympus Adds Newby as VP of Claims
Aug 15 2016 // Olympus Insurance Co., a Florida homeowners insurer, has appointed Martin Newby as vice president of Claims. Newby will serve as Olympus’ senior claims executive responsible for the development, implementation,...
Chile’s Health Insurers Pushed to Brink of Collapse as Courts Prevent Rate Hikes
Aug 12 2016 // Chile’s private health insurers have a peculiar problem. Every time they try to raise their premiums, thousands of their clients take them to court to stop the increase — and win. Their inability to raise fees...
West Virginia Funeral Home Ordered to Pay $3M for Defrauding Insurer
Aug 12 2016 // The owners of a funeral home in Putnam County, W. Va., have been ordered to pay nearly $3 million after being accused of defrauding an Iowa-based insurance company by cashing in on pre-need funeral arrangements for more...
Judge Seals Conversations in South Carolina Officer’s Lawsuit with Insurer
Aug 11 2016 // A former South Carolina police officer’s conversations with an insurance carrier after he was charged in the death of an unarmed black motorist have been sealed by a federal judge. The order issued by U.S. District...
Mississippi Counties, Insurers Settle for $16.5M with Families of 3 Exonerated Men
Aug 9 2016 // A $16.5 million settlement has been reached in a lawsuit that claims three men were imprisoned for decades because they were forced to confess to a crime they did not commit, lawyers said. The Hattiesburg American reports...
Changing Employee Demographics Push Insurers to Focus on Strategic Recruitment
Aug 9 2016 // With nearly 400,000 employees expected to retire from the insurance industry workforce within the next few years, according to the U.S. Bureau of Labor Statistics, its incumbent on carriers to consider the ways in which...
Insurer Focus on Customers, Unique Policies Boosts Satisfaction Among Small Business Owners
Aug 9 2016 // No longer able to compete primarily on price, insurers are now focusing their efforts on pleasing customers, with the payoff being a significant increase in satisfaction among their small business commercial customers,...
Court Upholds 25% Rate Increase Rejection for North Carolina Homeowners
Aug 8 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 August...
Rough Ride for P/C Insurers in 2016, Warns S&P
Aug 8 2016 // This year could be a tough one for U.S. property/casualty insurers, as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by...
The Future of Insurance Belongs to Intermediaries
Aug 8 2016 // Great efforts have been made recently to disintermediate the insurance process. One prevalent example of this is by routing insureds directly to the carrier, bypassing the independent agency distribution channel. More and...
Settlements Reached in North Dakota with 4 Life Insurers
Aug 5 2016 // North Dakota Insurance Commissioner Adam Hamm announced settlement agreements with four life insurance companies related to their use of the Social Security Administration’s Death Master File (DMF). As part of the...
Insurer Hires Firm to Resume Work at Hartford Stadium
Aug 5 2016 // Hartford’s mayor says work is set to resume on the city’s problem-plagued minor league baseball stadium, months after it was scheduled to open. Mayor Luke Bronin says the surety bonding company, Arch Insurance,...
New Cyber Safety Ratings for Software Could Aid Insurers
Aug 4 2016 // A famed hacker who nearly 20 years ago told Congress he could take down the internet in 30 minutes is now going after the computer software industry, whose standard practices all but guarantee that most products will be...
UK Insurers Aviva and RSA Report Higher H1 Profits, Shrug Off Brexit Fallout
Aug 4 2016 // Insurers Aviva Plc and RSA Insurance Group Plc shrugged off any fallout from the Brexit referendum by reporting higher first-half profit and increasing shareholder payouts. The shares rallied in London trading. Aviva, the...
Premium Hikes of Up to 45% Sought by Illinois Health Insurers
Aug 3 2016 // Health insurance premiums for Illinois residents who buy coverage through the Affordable Care Act’s marketplace could increase by as much as 45 percent according to proposals submitted by insurers and made public on...
Massachusetts, New Hampshire Nonprofit Insurer Sues Over Federal Assessment
Aug 3 2016 // A nonprofit health insurer with 25,000 customers in Massachusetts and New Hampshire has filed a federal lawsuit claiming it is being illegally punished for offering lower-cost products. Under the Affordable Care...
Captive Insurers in Strong Position: A.M. Best
Aug 3 2016 // Captive insurance companies rated by A.M. Best ended 2015 in strong form, recording pretax operating income of $1.4 billion, a 13.5 percent increase over 2014, according to a new A.M. Best special report. The Best Special...
