Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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,...
A.M. Best Report: Last Resort Insurers Welcome Catastrophe Bond Market
Dec 3 2014 // The convergence market has provided an opportunity for entities that act as insurers of last resort to transfer some of their peak exposures to the capital markets, according to a Best’s Special Report titled,...
Global Car Insurers Offer Discounts – If They Can Monitor Driving Data
Dec 2 2014 // Insurance companies around the world are promising lower rates on car coverage. The catch is they want to install the equivalent of an airplane’s black box to track how and where you drive. Smartphone applications...
No Ratings Impact from UK’s Counter-Terrorism/Security Bill: A.M. Best
Dec 1 2014 // A bulletin from A.M. Best indicates that it “does not expect rated insurers to be impacted by the amendments to the UK’s Counter-Terrorism and Security Bill, making it illegal for insurers to reimburse ransom...
Lengthy Period of Low Interest Rates May Hurt Some European Insurers
Dec 1 2014 // One in four European insurers may struggle to meet promises to policyholders in a prolonged period of low interest rates, the European Union’s insurance watchdog said following a stress test of the industry. These...
Agency Groups Give Independent Insurance Agents ‘Big Agency’ Edge
Dec 1 2014 // Some believe the independent insurance agent may soon be on the endangered species list. Tighter margins and pressure from insurance carriers to meet increasingly higher production demands are putting the squeeze on every...
Small Business Insurance Market Primed for Consolidation
Dec 1 2014 // If heavy competition breeds consolidation, then the property/casualty small business insurance market is ripe for it in the coming years. Both large and small insurers devote lots of attention to the space, but no single...
2014 State Specialist P/C Insurers Revealed
Dec 1 2014 // The Demotech Company Classification System categorizes insurers into one of 11 categories based on an analysis of data reported by the companies to the National Association of Insurance Commissioners (NAIC). The 11...
Program Market a Target for Expansion, Good & Bad
Dec 1 2014 // Market Outpacing Overall P/C Industry The program insurance business market enjoyed its third consecutive year of growth in 2013 and appears on track to continue its expansion. However, while program business is attracting...
Removing Barriers to More Private Flood Insurance
Dec 1 2014 // A House Financial Services subcommittee recently held hearing to focus attention on legislation sponsored by two Florida representatives who want to encourage more flood insurance sales by private insurers as an...
Texas Windstorm Insurer Launches Depopulation Portal
Dec 1 2014 // The Texas Windstorm Insurance Association (TWIA) has initiated a process whereby interested insurance companies may access information on TWIA insured properties in an effort to move policies to private insurers. The...
N.J. Sen. Menendez Presses for Sandy Flood Insurance Probe
Dec 1 2014 // The Federal Emergency Management Agency should investigate allegations that insurance companies handling Superstorm Sandy flood damage claims are manipulating them to shortchange victims, U.S. Sen. Robert Menendez, D-N.J.,...
2 AIG Carriers File for Redomestication
Dec 1 2014 // Two subsidiaries of the American International Group – Granite State Insurance Co. and New Hampshire Insurance Co. — recently filed for approval a plan of redomestication that would change their state of domicile...
Aetna to Establish Captive Insurer in Connecticut
Dec 1 2014 // Connecticut Gov. Dannel P. Malloy announced on Nov. 6 that Hartford, Connecticut-headquartered health insurer Aetna is establishing its captive insurance company in its home state, becoming the state’s fifth licensed...
Minnesota Archdiocese Sues Insurance Companies for Coverage
Nov 26 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...
Insurers’ Winter Storm Losses to Climb Due to Polar Vortex: I.I.I.
Nov 26 2014 // Insured losses from winter storms in the U.S. will climb well above $2.5 billion in 2014, double the annual average over the previous two decades. The Insurance Information Institute says the polar vortex will be...
Missouri Seeking Administrator/Insurer for Workers’ Comp Residual Market
Nov 25 2014 // The Missouri Department of Insurance, Financial Institutions & Professional Registration is seeking to contract with one or more entities to administer and provide workers’ compensation insurance for the...
UK Insurers Already Banned from Paying Ransoms to Terrorist Organizations
Nov 25 2014 // The UK Government’s proposal to ban the payment of ransoms by insurers to terrorist organizations, which will be officially presented to Parliament tomorrow, is in fact already inscribed in law, not only by the UK,...
U.S. Regulators, Insurers Skeptical of Global Capital Standards
Nov 25 2014 // A new report commissioned by the Property Casualty Insurers Association of America and the National Association of Mutual Insurance Companies has found there would be significant economic costs associated with imposing...
Texas Wind Insurer Launches Depopulation Portal
Nov 24 2014 // The Texas Windstorm Insurance Association (TWIA) has initiated a process whereby interested insurance companies may access information on TWIA insured properties in an effort to move policies to private insurers. The...
