Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Mitsui Sumitomo to Buy Amlin for $5.3B, Latest in Japanese Overseas Deals
Sep 8 2015 // MS&AD Insurance Group Holdings Inc. agreed to buy Lloyd’s of London insurer Amlin plc for about 3.47 billion pounds ($5.3 billion), joining an overseas deal spree by Japanese peers. Amlin shares surged. The...
Litigation Relief Needed for TWIA Depop Program to Work, Lawmakers Say
Sep 7 2015 // A new law that became effective Sept. 1 in Texas will give the state’s property insurer of last resort for wind and hail along the coast more leeway in its plan to reduce overall exposure by incenting private...
Hurricane Katrina: Every Number Tells a Story
Sep 7 2015 // In a 25-year span leading up to 2005, homeowners insurers in Louisiana wrote a total of $13 billion in homeowners insurance premium, from which they earned $1 billion in profit, according to the chief actuary at the state...
What to Know About Insurance Company Financial Status
Sep 7 2015 // I recently listened to an insurance company executive give a discombobulated, “woe is me” speech to a room of agents who were largely ignorant of carriers’ financial success. To summarize his...
S&P: U.S. Insurers Cautious to Respond to Soaring Cyber Demand
Sep 7 2015 // Standard & Poor’s predicts a major jump in demand for cyber insurance in the coming years, with interest initially outstripping supply. U.S. insurers will respond gradually, however, entering the market with...
The Hard Market That Wasn’t
Sep 7 2015 // Are Your Carriers Positioned For What Comes Next? For the U.S., property/casualty industry recent events have mimicked the boxing idiom one, two punch. P/C industry professionals haven’t seen a combination of an...
Cyber Risk Insurers Lag in Buying Cyber Cover
Sep 7 2015 // As recently as two years ago, only half of the top 10 carriers writing cyber insurance had purchased cyber coverage themselves, a broker specialist said recently. During an interview at the Standard & Poor’s...
Insurers Look to Cyber, M&A Coverage as Prices Decline: Marsh
Sep 7 2015 // Commercial insurance rates continued their global decline in the second quarter of 2015, a trend driven by an abundance of global capacity and a lack of large insured loss activity, Marsh said in its latest Global...
District of Columbia, Maine, Pennsylvania Nix Price Optimization
Sep 7 2015 // The District of Columbia, Maine and Pennsylvania have recently joined a growing number of states and jurisdictions that issued directives prohibiting the use of price optimization. In Washington, D.C., the Department of...
California Commissioner Applauds Supreme Court Decision Against Hartford
Sep 7 2015 // California Insurance Commissioner Dave Jones praised a recent unanimous California Supreme Court decision that he said ensures policyholders are protected from insurers refusing to cover third-party liability claims when...
California Insurance Company Oversight Law Signed
Sep 7 2015 // California Gov. Jerry Brown in late August signed Assembly Bill 553, which establishes new oversight aimed at reducing the number of insurance company insolvencies. AB 553 was authored by Assemblyman Tom Daly, D-Anaheim,...
Ohio Licenses First Captive Insurance Company
Sep 7 2015 // Imprise Financial PCC Inc. is now licensed as Ohio’s first “protected cell” captive insurance company, according to the Ohio Department of Insurance. Through its protected cells, Imprise Financial will...
Top 3 Trends that Can Affect Residential Property Valuations
Sep 4 2015 // This post is part of a series sponsored by CoreLogic. Accurate property valuation is critical to insurers as well as homeowners. In the event that a property is undervalued, insurers lose out on premium revenue while the...
Missouri Fines Insurer Safe Auto for Alleged Violations
Sep 4 2015 // Missouri motorists insured by Safe Auto may receive a refund or credit following a market conduct examination conducted by the Missouri Department of Insurance. The department contends that the auto insurer failed to...
North Carolina Man Accused of Defrauding Insurance Companies
Sep 4 2015 // North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of William Jeffery Barnhardt, 65, of West End, Moore County; he is charged with two counts each of insurance fraud and obtaining property by false...
Blackstone Acquires Major Interest in Mortgage Insurer PMI
Sep 3 2015 // Blackstone Group LP acquired a “significant equity stake” in mortgage insurer PMI Group Inc. Blackstone, the New York-based private-equity firm, will provide a loan to PMI for working capital and gains the...
Tennessee Supreme Court Rules for Insurer in Assignment of Benefits Case
Sep 3 2015 // The Tennessee Supreme Court has affirmed a Court of Appeals decision that a chiropractic patient’s assignment of benefits was not an effective assignment of his rights to insurance proceeds from a third party’s...
Study Says European Insurers’ Assets under Management Hit $11 Trillion
Sep 2 2015 // European insurers’ assets under management jumped 9.4 percent to €9.9 trillion ($11.15 trillion) in 2014 from a year earlier, trade body Insurance Europe said on Tuesday, mainly driven by increased investment by...
Penn. Advises Homeowners to Reduce Property Hazards, Avoid Coverage Loss
Sep 1 2015 // Pennsylvania Insurance Commissioner Teresa Miller is advising consumers that the Pennsylvania Insurance Department is available to help homeowners adhere to reasonable requests by insurers to make their properties safer...
District of Columbia Issues Price Optimization Ban Bulletin
Aug 28 2015 // The District of Columbia’s Department of Insurance, Securities and Banking (DISB) this week issued a bulletin notifying property/casualty insurers doing business in the District that price optimization is...
