Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
A.M. Best’s ‘A-‘ Rating Not as Good as It Seems: Fitch
Jul 14 2016 // Fitch Ratings this week warned that users of insurance ratings from four large credit rating agencies (CRAs) fail to understand differences in the rating scales – differences that separate A.M. Best from the rest of that...
Heritage Revokes 14.9% Rate Increase Filing for Florida Homeowners
Jul 13 2016 // After review by the Florida Office of Insurance Regulation (OIR) and much criticism from Florida stakeholders, Florida-based Heritage Property & Casualty Company has withdrawn its request for an overall 14.9 percent...
Europe Insurers’ Stress Tests Could Lead to Higher Capital Requirements
Jul 13 2016 // European insurers, whose profits are being eroded by Mario Draghi’s* quantitative easing program, face a stress test headache that risks requiring them to set aside more capital, further hurting their ability to make...
Insurers, Banks & Pension Funds ‘Must Address’ Climate Risk Exposures
Jul 13 2016 // The world’s insurers, banks and pension funds are “inherently susceptible” to threats from climate change and must make adjustments, from shifting investment toward environmentally friendly industries to...
Study: 43% of Insurers’ Prescription Payments Going to Specialty Drugs
Jul 12 2016 // The latest study of medicine prices finds U.S. insurers’ spending on expensive prescription drugs nearly quadrupled from 2003 through 2014, when the number of such prescriptions filled tripled. Spending on expensive...
Survey: Agents Value Carrier Underwriting More Highly Now Than 5 Years Ago
Jul 12 2016 // A comparison of independent agent opinions five years ago to today shows how far the agency channel has come while also illustrating that certain fundamentals remain important throughout cycles and market...
Liberty Kenya Holdings Targets Acquisitions of Kenyan Insurers to Bolster Foothold
Jul 11 2016 // Liberty Kenya Holdings Ltd. is considering as many as 10 acquisition targets as part of the insurer’s five-year strategy to increase its foothold in East Africa’s biggest economy. “That is on the cards if...
Texas Insurers Look to Courts for Hope in Stemming Hail-Related Lawsuits
Jul 11 2016 // Following a severe hailstorm in south Texas in 2012, insurers were beset with homeowner property lawsuits – sometimes after claims were paid and repairs were completed, according to an insurer trade group. Since then,...
S&P: Private Flood Insurance Products to Trickle In Slowly
Jul 11 2016 // Opening U.S. flood insurance to private insurers won’t lead to a surge of new market entrants, Standard & Poor’s asserts in a new report. Even if Congress passes legislation to make the change as it is...
Statistical Models for Zika Risk Management
Jul 11 2016 // The Pan American Health Organization first confirmed Zika virus infections in Brazil in May 2015. It took nine months for the World Health Organization (WHO) to declare an international public health emergency. It was then...
Massachusetts Auto Insurers Hiking Rates
Jul 10 2016 // More than a million Massachusetts drivers will see their auto insurance bills increase by as much as 9 percent this year. Insurance companies and industry officials told The Boston Globe that cheaper gas and an improving...
Coastal Insurer UPC’s First Catastrophe Bond Provides It with $100M Cover
Jul 8 2016 // Swiss Re Capital Markets said it has structured and placed $100 million of insurance-linked securities (ILS) that cover named storms and earthquakes affecting certain coastal states of the U.S. The bonds have been issued...
Illinois Stepping in to Help Struggling Insurance Co-Op
Jul 8 2016 // The state of Illinois has tried an unusual maneuver to save a health insurer with 49,000 Illinois policyholders from possible financial failure by blocking it from paying a $31.8 million bill to the federal...
California Insurers Group Hopes Governor Signs Airbnb Bill
Jul 8 2016 // Another bill dealing with the sharing economy is headed to the California governor’s desk. A bill to ensure homeowners and renters offering rooms for rent on hosting platforms like Airbnb and Home Away understand...
Marijuana Ties May Signal ‘Risky Lifestyle’ to Insurers
Jul 8 2016 // A few weeks ago, Derek Peterson got a letter from Mutual of Omaha, turning him down for life insurance. “Our decision was based on,” the letter said, then trailed off (Monty Python-style) and picked up in all...
Post-Brexit-Vote Property Panic Could Hit Bank, Insurer Investments
Jul 8 2016 // The run on British property funds has drawn attention to the vulnerability of the commercial real estate sector, largely funded by domestic banks and building societies but increasingly by foreign banks and insurers. UK...
Alberta Wildfires to Cost Insurers About $2.8B, in Canada’s Costliest Disaster
Jul 8 2016 // The wildfires that tore across the oil-producing region of Canada this year will cost insurers about C$3.58 billion ($2.8 billion) in claims, the most costly insured natural disaster in the country’s history, an...
Lauve, Insurors Group Board Member, Named IIAT Chair
Jul 7 2016 // Insurors Group LLC, an alliance of independent insurance agents in Texas, announced that members of its board of directors were recognized by the Independent Insurance Agents of Texas at the group’s convention in San...
Insurers with High Customer Ratings Rewarded with Higher Returns: Study
Jul 7 2016 // Insurance companies that deliver a great customer experience are rewarded over the long-term by both consumers and investors, according to a new consulting study. The analysis by Watermark Consulting claims that insurers...
New York Agrees to ‘Principle-Based’ Reserving Rule for Life Insurers
Jul 7 2016 // New York state’s top financial regulator, Maria Vullo, agreed to adopt new industry-supported reserve requirements for life insurers, departing from a predecessor who derided the shift as ” unwise.” The...
