Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
California Commissioner Tells Insurers to Cease Price Optimization
Feb 18 2015 // California Insurance Commissioner Dave Jones on Wednesday issued a notice to property/casualty insurers doing business in California advising them that so-called “price optimization” in rate making is unfairly...
Treasury Troubled by Smaller Firms Not Buying Cyber Insurance
Feb 18 2015 // While the overall cyber risk insurance market is growing tremendously, larger corporate clients have driven much of the expansion. Smaller companies, on the other hand, have not followed suit, Deputy U.S. Treasury...
A.M. Best: European (Re)Insurers Face Pressure Points; Ratings Are Stable
Feb 18 2015 // The recent unveiling by the European Central Bank (ECB) of its large-scale sovereign bond buying program is just one of the pressure points building in Europe that could affect insurers and reinsurers’ balance...
Reports Show Insurers Lag Behind in Adopting Technology
Feb 17 2015 // At a time when the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are using developments...
Armstrong Hit with $10M Sanction in Dispute with Texas Promotions Insurer
Feb 16 2015 // Dallas-based SCA Promotions Inc., a specialist in insuring prizes, promotions and contests, announced that Lance Armstrong has been hit with a $10 million sanctions award by an arbitration panel hearing his dispute with...
U.S. Issues Draft Rules on Commercial Use of Drones; Insurers Welcome
Feb 16 2015 // The U.S. aviation regulator proposed rules on Sunday for commercial drone flights that would lift some restrictions but would still bar activities such as the delivery of packages and inspection of pipelines that have been...
Insurer Hit With $4.5M Class Action Bad Faith Verdict in Nevada
Feb 13 2015 // Everest Indemnity Insurance Co. was hit with a $4.5 million verdict after a Nevada state court jury on Thursday said the insurer acted in bad faith by refusing to cover a construction company’s defense costs in a...
Insurers Brace for Claims as More Snow Expected to Hit Storm-Weary Boston
Feb 13 2015 // Since the first winter storm hit Boston at the end of January, the city has removed over 10,000 truckloads of snow after a record six feet of snowfall in the last 30 days — breaking the previous record of 58.5...
Best Sees Minimal Rating Impact from Tax Changes on Reinsurance
Feb 13 2015 // A.M. Best has weighed into the ongoing debate over whether or not the ability of “foreign” reinsurers to avoid significant amounts of U.S. taxes by transferring reinsurance premiums paid to foreign affiliates...
Climate Change Regulations for Insurers Not Out of Realm of Possibility
Feb 12 2015 // Some sort of climate change regulation for the insurance industry could be just around the corner. Then again, it might not be. It’s a tossup in the eyes of Don Reed, a managing director in...
A.M. Best: Geopolitical Tensions Hit Insurers’ Prospective Growth in Russia
Feb 12 2015 // Heightened geopolitical tensions spilling over from the Russia-Ukraine crisis, high interest and inflation rates, and low commodity prices are placing pressure on Russia’s economy and its insurance industry’s...
New York MTA’s Captive Insurer to Provide Coverage in Fatal Train-SUV Crash
Feb 11 2015 // New York Metropolitan Transportation Authority’s (MTA) captive insurer and wholly owned insurance subsidiary First Mutual Transportation Assurance Company (FMTAC) will lead coverage for liability for third party...
Driveway Software, Pinnacle to Offer Usage-Based Insurance Services to Insurers
Feb 11 2015 // Driveway Software and Pinnacle Actuarial Resources have teamed up to offer the auto insurance industry a coordinated usage-based insurance (UBI) approach that includes driver behavior scoring. Auto insurers can now...
Catlin CEO Expects Number of Mergers Among Smaller Insurers to Increase
Feb 11 2015 // Stephen Catlin, who is selling his Lloyd’s of London insurer to XL Group plc for $4.2 billion, expects the pace of mergers among smaller insurers to gather pace. “Anyone who has got a market value of less than...
Ohio Insurance Director Warns Insurers Against Use of Price Optimization
Feb 10 2015 // Lieutenant Governor and Department of Insurance Director Mary Taylor has warned Ohio insurers against the use of price optimization that can result in unfair discrimination. Taylor recently issued Bulletin 2015-01, dated...
CapSpecialty Adds D&O, EPL Product to Insurance Company Coverage Offerings
Feb 10 2015 // CapSpecialty has launched a new insurance company directors & officers/employment practices liability (D&O/EPL) product issued by Capitol Specialty Insurance Corp. Insurance company D&O/EPL is a specialty...
P/C Insurers Expanding Use of Predictive Modeling
Feb 9 2015 // Property /casualty insurance executives believe that predictive modeling has become an essential or very important driver of improved performance over the past six years and they are broadening their use of the application...
Starwood Capital to Sell NYC’s Baccarat Hotel to Chinese Insurer for $230M
Feb 9 2015 // Barry Sternlicht’s Starwood Capital Group agreed to sell New York’s luxury Baccarat Hotel to an affiliate of China’s Sunshine Insurance Group. The 114-room property on Manhattan’s West 53rd Street...
N.Y. Announces New, Targeted Cybersecurity Assessments for Insurers
Feb 9 2015 // New York State Department of Financial Services (DFS) today released a report on cybersecurity in the New York insurance industry and announced a series of measures that DFS will take to help strengthen cyber hacking...
Insurer: Oklahoma Jazz Museum’s Workers’ Comp Debt Is Paid
Feb 9 2015 // A major insurer who had the financially shaky Oklahoma Jazz Hall of Fame on the hook for around $11,200 a couple weeks ago after the museum failed to pay its workers’ compensation premium on time now says the...
