Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Competition Ahead for Insurers
Dec 15 2014 // U.S. property/casualty insurers have cause for celebration as carriers reported higher overall earnings and premium levels in the 2014 third quarter versus the same period a year ago. Yet, at the same time Moody’s...
Evolving Regulation and Its Impact on Insurers’ M&A Strategies
Dec 15 2014 // It appears that the insurance industry is having an easier time emerging from the financial crisis than entering the new regulatory environment, particularly as it relates to nonorganic growth. With increasingly healthy...
Minnesota Archdiocese Sues Insurance Companies for Coverage
Dec 15 2014 // The Archdiocese of St. Paul and Minneapolis in Minnesota said it is suing some 20 insurance companies to try to force them to cover its liabilities for clergy sex abuse claims. The complaint, filed in federal court, says...
Specialty Insurer James River Raises $231M in IPO
Dec 11 2014 // James River Group Holdings Ltd., the specialty insurer backed by hedge fund company D.E. Shaw & Co. and Goldman Sachs Group Inc., raised $231 million in an initial public offering, pricing its shares below the marketed...
Citizens’ Takeout Program Undergoing Changes; Says Assessments Unlikely
Dec 11 2014 // Faced with a rising number of consumer complaints, Florida’s state-backed property insurer has announced a series of changes to its takeout program. The news comes as the insurer said it is highly unlikely to need...
House Passes Bill to Relax Capital Rules for Insurers
Dec 11 2014 // A measure that would ease capital and liquidity standards for insurers under the Dodd-Frank Act was approved by the U.S. House of Representatives. The House unanimously passed the bill Wednesday to give the Federal Reserve...
House Passes TRIA Renewal With Higher Government Trigger, Insurers’ Co-Pay
Dec 10 2014 // The U.S. House voted Dec. 10 to extend by six years a federal backstop for insurers offering coverage against terrorism, advancing efforts to retain a program created in response to the attacks of Sept. 11, 2001. House...
Casualty Catastrophes Threaten (Re)Insurers’ Balance Sheets: Guy Carpenter
Dec 10 2014 // The “casualty catastrophe” is perhaps the most daunting threat that casualty (re)insurers face today, according to GCCapitalIdeas.com, Guy Carpenter’s thought-leadership blog. Casualty (or liability...
Sandy Flood Insurers Ordered to Disclose Drafts of Engineering Reports
Dec 9 2014 // A Travelers Cos. unit and other flood insurers accused by Hurricane Sandy victims in New York of using falsified engineering reports must turn over the drafts to policyholders, a three-judge panel ruled amid allegations...
How and When to Shop for Agency E&O Coverage
Dec 9 2014 // While many insurance agencies stick with their agency E&O carrier for years, those that do shop around tend to do so when premiums are rising and, according to a recent Insurance Journal survey, more agencies are...
Juror Witnesses Firsthand What the Hail Is Going on in Texas
Dec 8 2014 // Alejandro Stolarski is a United States citizen who emigrated from Mexico. Stolarski resides in Dallas County. Like hundreds of other Dallas County residents each week, Stolarski received a notice in the mail for jury duty....
James River Not Afraid to Take on Uber, Riskier Assets
Dec 8 2014 // The insurer that ridesharing service Uber Technologies Inc. uses to protect drivers and passengers is going public, promoting how it’s more willing than competitors to invest in junk-rated loans. James River Group...
FACTBOX-Recent Insurance Deals in Sub-Saharan Africa
Dec 8 2014 // The Following are some purchases or expansion plans by South African and European insurers in sub-Saharan Africa announced in the past three months [See article above] Nov 28 – French insurer AXA buys control of...
African Insurers’ Growth Interests Europe, So. Africa, as Incomes Rise
Dec 8 2014 // A growing middle class in sub-Saharan Africa is enticing European and South African insurers to buy local firms focusing mainly on life insurance and pensions, in the face of mature markets and strong competition at home....
Texas Orders Waco Insurer to Pay Nearly $47M
Dec 5 2014 // A Texas-based provider of so-called “life settlements” has been fined nearly $47 million for misleading investors about life insurance policies of terminally ill patients. The Securities and Exchange Commission...
Legal Battle Over MetLife Systemic Risk Label Looms
Dec 5 2014 // U.S. regulators are close to a final decision to label MetLife Inc. systemically important, two people with knowledge of the matter said, setting up a potential legal battle with the country’s largest life...
U.S. Prods Banks to Buy Cyber Insurance, Insurers to Develop Products
Dec 4 2014 // Banks should consider cyber risk insurance to help deal with the financial fall-out from the growing threat of cyber attacks, a top U.S. regulator said on Wednesday. Bankers and officials have become more vocal lately...
Banks Balk at Easing Dodd-Frank Capital Requirements for Insurers
Dec 3 2014 // After coming together to help Republicans retake Congress, the financial industry is splitting over the best strategy to accomplish its main goal of paring back the Dodd-Frank Act. The rift appeared the day after the...
Indiana Insurer Buys Naming Rights for Fairgrounds Arena
Dec 3 2014 // The renaming of the Indiana State Fairgrounds Coliseum will come along with a fat cat on the roof. Carmel-based Indiana Farmers Mutual Insurance Co. has signed a 10-year, $6 million naming rights deal for the arena that...
Moody’s to P/C Insurers: Beware Weather, Competition in Months Ahead
Dec 3 2014 // U.S. property/casualty insurers can celebrate higher overall earnings and premium levels in the 2014 third quarter versus the same period a year ago, Moody’s Investors Service said in a new report. At the same time,...
