Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Usage-Based Auto Insurance, Slow at First, Picking Up Speed
May 12 2016 // Usage-based auto insurance will explode globally in the next seven years, a new industry analysis asserts. IHS Inc.’s IHS Automotive predicts that 142 million customers will sign up globally for the...
Goldman Sachs Says Insurers Need Hedge Funds to Diversity Investments
May 12 2016 // Mike Siegel, who oversees about $190 billion at Goldman Sachs Group Inc.’s asset-management arm, said insurers should stick with hedge funds even after their recent slump, because the industry needs investing...
Medical Professional Liability Insurers’ Profits Decline But Outlook Stable: A.M. Best
May 11 2016 // The specialty medical professional liability (MPL) insurance industry remained profitable in 2015, however its net income fell nearly 36.6 percent to almost $1.1 billion in 2015. In a special report, A.M. Best said the MPL...
Medical Liability Insurer NORCAL Mutual Names Stewart Chief Underwriter
May 10 2016 // Andre Stewart has been named chief underwriting officer for NORCAL Mutual Insurance Co. Stewart joined NORCAL in 2015 as senior vice president of underwriting for custom accounts, where he was responsible for new business...
Insurer’s Hospital Claims Study Corroborates High Death Risk from Medical Errors
May 10 2016 // Death claims are the most common hospital liability claims, according to an insurance company study released after researchers at Johns Hopkins University School of Medicine reported that medical errors are the third...
Cancer Patient Sues Oklahoma Insurer over Proton Therapy Treatments
May 9 2016 // A prostate cancer patient and a cancer treatment provider are suing an Oklahoma health insurer for allegedly refusing to cover proton radiation therapy. Randy Farland and the Procure Proton Therapy Center in Oklahoma City...
Costly Alberta Wildfires to Hit Q2 Results; Insurers Are Resilient: Ratings Reports
May 9 2016 // While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and...
How P/C Insurers Fared in 2015
May 9 2016 // The U.S. property/casualty (P/C) industry marked a third consecutive year of underwriting profitability, with $6.2 billion in underwriting income in 2015. However, the lower level of underwriting income and an 11.2 percent...
Main Street America Promotes Osman, Appoints 3 Officers in Florida
May 6 2016 // The Main Street America Group announced the promotion of one company officer to assistant vice president and the appointment of three new company officers in its Jacksonville, Fla., headquarters. Darryl Osman, currently...
Some Insurers Have More to Gain from Underwriting Technology Than Others
May 6 2016 // Personal Lines Insurers Personal lines insurers are most likely to benefit from wide uses of automation in underwriting, a new report has found. “They are more likely to have a homogenous book of business and a...
Specialist Lloyd’s Insurer Marketform Hires Kelsh to Build Broker Relationships
May 6 2016 // Marketform, the London-based specialist Lloyd’s insurer, has appointed Martin Kelsh to the newly created role of production & distribution director. Kelsh joined Marketform on May 3 to develop and enhance the...
Health Insurers Next on Justice Department’s Antitrust Agenda
May 5 2016 // Bill Baer was the ultimate Washington antitrust insider when he came to the Justice Department in 2013: At law firm Arnold & Porter LLP, he’d counseled the biggest U.S. companies, including deal machine General...
Texas Insurer Group Awards Scholarships to 27 Students
May 5 2016 // The Insurance Council of Texas (ICT) Education Foundation recently awarded a total of $32,000 in academic scholarships to 27 insurance and risk management students at six Texas universities. The students attend...
Vermont Issues Bulletin on ‘Non-Cumulation’ Policy Provisions
May 4 2016 // The Vermont Department of Financial Regulation (DFR) has issued a bulletin reminding carriers that “non-cumulation” policy provisions and endorsements in occurrence-based liability policies are not permissible...
Japanese Insurers Expected to Continue U.S. Spending Spree: Investment Bankers
May 4 2016 // Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isn’t over yet, industry dealmakers said on Tuesday. Japan has a number of large, healthy insurers...
Public, Private Insurers Picking Up More of Opioid Drug Costs
May 3 2016 // According to a study released by Centers for Disease Control (CDC), consumer out-of-pocket spending on opioids has declined, with insurers picking up more of the tab. The study found that consumer out-of-pocket spending on...
AIG Q1 Net Loss of $183M Tied to Hedge Funds, Energy Investments
May 3 2016 // American International Group Inc., the insurer that’s shrinking under pressure from activist shareholders, posted a third-straight unprofitable quarter on losses from hedge funds and declines in the value of other...
Special Report: Execs Warn of Impending Florida Market Crisis Over Water Loss Claims
May 3 2016 // Abuse of assignment of benefits (AOB) from water loss claims has become a full-blown Florida insurance crisis that will mean higher insurance rates next year and for the foreseeable future for every Florida policyholder,...
Greater New York Insurance Companies Expands to Maine Market
May 2 2016 // Greater New York Insurance Companies (GNY), a super-regional carrier in commercial property/casualty insurance, announced it will begin issuing policies in Maine beginning May. “Many New England business owners and...
5 Reasons the ‘Primary and Noncontributory’ Requirement is Unethical, Ironic and Ridiculous
May 2 2016 // Several weeks ago I released an article questioning the need for the “primary and noncontributory” (PNC) requirement found in most construction contracts. I followed that article with a piece stating that the...
