Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Maryland Welcomes 7 New Insurers
Oct 5 2015 // The Maryland Insurance Administration (MIA) announced on Sept. 14 that seven new insurance companies have been approved to offer workers’ compensation and life insurance products in Maryland. “Our goal is to...
Rhode Island Addresses Price Optimization
Oct 5 2015 // Rhode Island’s Insurance Division issued a bulletin on Sept. 18 for personal lines property/casualty insurers in the state that effectively prohibits the use of non-risk related features of price optimization. Rhode...
Crash of Redskins Buses to Cost Minneapolis, Bus Company and Insurer $237K
Oct 2 2015 // A crash last November involving buses carrying the Washington Redskins on their way to play the Minnesota Vikings will cost Minneapolis more than $237,000. The Star Tribune reported the proposed settlement will be...
Insurance Company Investors Assess Hurricane Joaquin Damage
Oct 2 2015 // The hurricane strengthening off the U.S. East Coast is buffeting insurance providers as investors assess the possible damages. Losses began to accelerate as Joaquin grew into a Category 4 hurricane, with top winds...
13 Specialty Insurers Emerging As Takeover Targets: S&P
Oct 1 2015 // Standard & Poor’s sees a number of specialty insurers as potential takeover targets by both rival carriers and investors seeking to expand in the segment, thanks to stellar operating performance versus the P/C...
ACE-Chubb Deal Clears Antitrust Hurdle
Oct 1 2015 // The Federal Trade Commission (FTC) has given the green light to ACE Limited’s $28 billion acquisition of rival insurer Chubb Corp. In a regulatory filing, ACE reported that it received notice on Sept. 30 from the FTC...
UK Insurers Call for Collective Action to Address Climate Change
Oct 1 2015 // Lloyd’s of London and other UK insurers called for collective action to address climate change on Thursday, after a report from the UK regulator this week highlighted risks to their industry from global warming. In...
EU to Ease Capital Regulations for Banks & Insurers to Revive Growth
Sep 30 2015 // The European Union will ease capital rules it has imposed on banks and insurers since the financial crisis to help markets raise more funds for reviving sluggish economic growth. The bloc’s financial services chief,...
How P/C Mutual Insurers Perform Compared to P/C Industry
Sep 30 2015 // Mutual property/casualty insurers tend to underperform the property/casualty insurance industry as a whole in several areas of performance, a new report says. However, the A.M. Best report notes, the mission of a mutual...
A.M. Best: European Insurers Continue Emerging Markets’ Growth – with Caution
Sep 30 2015 // In an attempt to deploy excess capital, some major European insurers have developed overseas operations over the past several years but are now taking a more cautious approach, as not all overseas strategies have proven...
Tianjin Port Blast Chemical Contamination Likely to Boost Re/Insurers’ Losses
Sep 30 2015 // Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While...
Bank of England Governor: Insurers Face Huge Exposure to Climate Change Risks
Sep 30 2015 // Bank of England Governor Mark Carney said UK insurers face potentially “huge” exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial stability...
Airbus and Atos to Create Cyber Security Products for Insurers, Other Industries
Sep 29 2015 // Airbus Group SE’s Defence and Space will team with digital services provider Atos SE to develop products designed to counteract cyber attacks on companies and their supply chains. The partnership will address...
Medical Professional Insurer Market Prepped for Consolidation: Fitch
Sep 29 2015 // The medical professional liability insurance market continued its years-long decline in 2014 in terms of net written premium volume, hammered by forces including worsening accident-year results and a rapidly evolving...
AmTrust Financial to Buy Texas-Based Insurer, Republic
Sep 28 2015 // AmTrust Financial Services Inc. announced that it has agreed to acquire Republic Companies Inc. and its affiliates (Republic) from Delek Group Ltd. and Republic Insurance Holdings LLC. Republic is based in Dallas. The...
Armstrong Settles with Dallas Insurer Over Tour de France Bonuses
Sep 28 2015 // Lance Armstrong settled a cycling promotion court fight on confidential terms but still has a lawsuit over a U.S. Postal Service sponsorship to contend with. Armstrong settled two related lawsuits with SCA Promotions Inc....
New York Regulators to Shut Obamacare Insurer Health Republic
Sep 28 2015 // Health Republic Insurance of New York, the Affordable Care Act insurer that got $265 million in U.S. loans, will stop selling policies and eventually cease operations under orders from New York and federal regulators. The...
Cardiologist in Ohio Convicted of Overbilling Insurers $7.2M
Sep 27 2015 // A federal court jury in Cleveland, Ohio, has convicted a cardiologist of ordering unnecessary medical tests, performing unnecessary procedures and submitting fraudulent bills totaling $7.2 million. Fifty-six-year-old...
Texas Associates Insurors Adds Peterson as Risk Advisor
Sep 25 2015 // Texas Associates Insurors announced that Erik Peterson has joined the agency as a risk and insurance advisor, specializing in medical device, servicing and malpractice risk. Peterson has experience in the industrial and...
Workers’ Compensation Premiums Up 5.3% in First Half of 2015: Demotech
Sep 25 2015 // Workers’ compensation insurers reported a 5.3 percent increase in direct written premiums during the first six months of 2015 versus the same period in 2014, according to actuarial firm Demotech’s review of...
