Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
South Dakota High Court: Insurer Must Pay for Storm-Drowned Cattle
Jul 22 2016 // The South Dakota Supreme Court says a Quinn family should collect insurance for cattle that drowned during the autumn 2013 blizzard that devastated western South Dakota ranchers. The high court in an opinion released July...
Uptick in Lawyers’ Liability Claims; Business Transactions Top Claim: Study
Jul 22 2016 // Law firms have seen an increase in the frequency of malpractice claims, which are becoming more costly to defend and could cause lasting reputational damage, according to a new study by insurance broker Ames & Gough....
South Carolina Workers’ Comp Loss Costs Going Up, New Filing Requirements Take Effect
Jul 21 2016 // New requirements regarding the implementation of changes in workers’ compensation loss costs have been passed by the South Carolina Legislature, and the insurance department is reminding insurers to ensure they...
June Storms in Canada Cost Insurers More Than C$34 Million
Jul 20 2016 // The storms that hit Saskatchewan, Manitoba and Ontario in Canada on June 24 and 25 caused more than C$34 million ($25.9 million) in insured damage, according to estimates from Catastrophe Indices and Quantification Inc....
2 New Insurers Approved for Doing Business in Arkansas
Jul 20 2016 // Arkansas Insurance Commissioner Allen Kerr has approved two new out-of-state insurers to do business in the state. Medical Liability Alliance (MLA) of Jefferson City, Mo., has been granted authority to offer casualty...
Motor Insurers Need to Adapt to Ward Off Competition from Car Manufacturers
Jul 20 2016 // As internet-connected and, eventually, driverless vehicles roll off production lines, traditional motor insurers need to adapt to ward off competition from car manufacturers. Insurers have struggled for years to make a...
Internet of Things Is Industry Disruptor that Could Benefit Innovators: Efma Report
Jul 20 2016 // The steady advance of the internet of things (IoT) presents a huge number of opportunities for insurers – as well as threats, according to a digest published by Efma*. The rise in connected homes, connected cars and the...
U.S. Expected to Sue to Stop Anthem, Aetna Deals
Jul 20 2016 // U.S. antitrust officials are poised to file lawsuits to block Anthem Inc.’s takeover of rival health-insurer Cigna Corp. and Aetna Inc.’s deal to buy Humana Inc., according to a person familiar with the...
The Hilb Group Acquires Carrier Insurance Agency in Florida
Jul 20 2016 // The Hilb Group, LLC (THG) has acquired Florida-based Carrier Insurance Agency, Inc., continuing its nationwide growth through acquisitions and expanding its regional presence in central Florida. The transaction became...
Insurers, Private Hospitals in Houston Fighting over Patients’ Rates
Jul 19 2016 // Insurance companies and private hospitals are facing off in Houston over how much to charge patients for “out-of-network” surgeries and procedures. According to the Houston Chronicle at least a dozen lawsuits...
Berkshire Hathaway Purchasing New York Medical Liability Insurer
Jul 18 2016 // Berkshire Hathaway subsidiary National Indemnity Co. is acquiring Medical Liability Mutual Insurance Co. of New York for an undisclosed price. The deal comes as the insurer completes its conversation from a mutual company...
Insurer Competition Vital for Healthcare Consumers: U.S. Health Official
Jul 18 2016 // The Obama administration’s top health official highlighted the importance of competition to insurance markets, as the Justice Department is poised to decide on two massive deals among four of the health-plan...
Lloyd’s Insurer Chaucer Expects Underwriting Loss During Q2 2016
Jul 15 2016 // The impact of catastrophes, large loss activity and foreign exchange movements are expected to bring an underwriting loss for Chaucer in the second quarter, when it will report a combined ratio in the range of 103 to 105...
P/C Insurers’ Net Income Fell 26% in Q1
Jul 15 2016 // U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015—a 26.6 percent decline—and their annualized quarterly yield on...
Kenyan Insurers Face New Capital Rules Which Could Lead to Market Shakeout
Jul 15 2016 // A push by Kenyan regulators to clean up the East African country’s insurance industry is poised to trigger stake sales or exits by underwriters unable to meet the new capital requirements, according to an industry...
Industry Balks as Treasury Adopts 2% Formula for Defining Auto Insurance Affordability
Jul 15 2016 // If the average auto insurance liability premium paid by consumers in minority and low-income neighborhoods is more than 2 percent of the median income in those neighborhoods, the auto insurance will be considered...
Insurers Expect Lower Returns in Face of Low Interest Rates, Heightened Competition
Jul 14 2016 // Approximately three-fourths of insurers surveyed have lowered their target return-on-equity expectations to 10 percent or lower, a reflection of highly competitive market conditions remaining and the slow-growth economy,...
Insurers Applaud FAA Reauthorization Provision on Drone Use in Disasters
Jul 14 2016 // Insurers could soon be able to deploy drones for speedier response to natural disasters under a provision in legislation reauthorizing the Federal Aviation Administration passed by the Senate Wednesday. “The process...
Insurers Lose Bid to Dismiss Suit Over Bear Stearns Financial Crisis Settlement Costs
Jul 14 2016 // A decade ago, Bear Stearns Cos. agreed to pay $250 million to resolve regulators’ claims that it was at the center of a system that allowed clients to break mutual-fund trading rules. JPMorgan Chase & Co., which...
Negative Interest Rates Described as ‘Dirt Sandwich’ for Insurers, Asset Managers
Jul 14 2016 // Central bankers globally need to realize the risks that extreme monetary policies will backfire, according to Voya Financial Inc.’s Karyn Cavanaugh. “Negative rates are turning out to be a dirt sandwich,...
