Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Nightclub Insurer Owner in Maryland Charged in $100M Policyholder Fraud
Sep 18 2014 // The owner of a Maryland-based insurer faces fraud charges for inflating the ratings of his company to win business, according to an indictment which seeks to recover more than $100 million in premiums his clients...
Reinsurance Rendez-Vous: Data Tools Help Identify Risks
Sep 18 2014 // Insurance companies are increasingly turning to “big data” from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles, according to reinsurers...
House Passes Measure to Ease Insurance Capital Standards Under Dodd-Frank
Sep 17 2014 // The Federal Reserve would get more flexibility to set separate capital standards for systemically important insurance companies under legislation passed by the U.S. House of Representatives. The measure, adopted yesterday...
BP Hopes Missing Comma Triggers $750 Million Transocean Spill Insurance
Sep 16 2014 // BP Plc, which already has paid more than $28 billion for the 2010 Gulf of Mexico oil spill, seeks to get a $750 million chunk of that back by convincing a Texas court that a missing comma may give the oil company access to...
Swiss Re, Munich Re Wade Into Dutch Flood Insurance
Sep 16 2014 // The world’s biggest reinsurers, pushed by rising competition in existing markets, are preparing to insure against Dutch floods, a peril that centuries of experience have warned most in the Netherlands against. Swiss...
The Problem with Domestic Excess & Surplus Lines Insurers
Sep 16 2014 // It has been more than five years since states, beginning with Illinois, began to enact laws permitting the formation and licensing of domestic excess and surplus lines insurers. To date, these initiatives have gotten very...
Texas Windstorm Insurer to Offer $500M of Unrated Debt: Muni Deals
Sep 15 2014 // Texas Windstorm Insurance Association this week is offering $500 million in unrated municipal debt as the Austin-based group girds for the hurricane season through November. The association, created by the Texas...
Insurer to Pay for Florida Gators-Idaho Vandals Cancelled Game
Sep 15 2014 // The University of Florida’s Athletic Department is scheduled to collect $1.8 million under a Lloyd’s of London insurance policy that covers the loss of ticket revenue in the event a home game is cancelled. The...
Demand for Liability Insurance to Rise Again: Swiss Re
Sep 15 2014 // Claims severity and demand for liability insurance will increase as economic growth accelerates and because of technological, social and regulatory changes, according to a new report from Swiss Re. Cyber risk,...
The Mood in Monte Carlo
Sep 15 2014 // For a financial sector posting a double-digit rise in earnings and boasting large cash piles, reinsurers sure see a lot of storm clouds on the horizon. That’s because they are facing what many see as an unprecedented...
Dewhurst to Lawmakers: How About Shutting Down Texas Windstorm Insurer?
Sep 11 2014 // Texas Lt. Gov. David Dewhurst has asked state lawmakers to consider shutting down a windstorm insurance provider for coastal Texans. Dewhurst asked a state Senate committee to look at phasing out the Texas Windstorm...
How Strong Is Florida’s ‘Revived’ Homeowners Market?
Sep 11 2014 // As Florida seeks to revive its private home insurance market after almost a decade without a hurricane, homeowners are pouring $6 billion a year in premiums into a new generation of small, in-state insurance companies with...
Baloise Shopping for Insurers at Home and Abroad in Europe
Sep 11 2014 // Martin Strobel, CEO of Baloise Holding AG, said the insurance company may consider buying firms in Switzerland, Germany, Belgium and Luxembourg. “If more opportunities arise in our core markets we will examine...
Bankrupt Detroit, Bond Insurer Reach Agreement
Sep 10 2014 // Detroit and Syncora Guarantee Inc. reached an agreement in their dispute over claims in the city’s $7 billion debt-reduction program that the two sides said may “profoundly alter” the city’s...
Goldman Leads Wall Street Tapping Taiwan Cash Pile
Sep 10 2014 // Wall Street banks, including Goldman Sachs Group Inc. and Citigroup Inc., are rushing to issue U.S. dollar bonds in Taiwan after a rule change unlocked $586 billion of funds held by the island’s insurance...
High on Marijuana Insurance
Sep 8 2014 // Specialty brokers looking to get insurers hooked on emerging industry The legal marijuana industry in the United States is experiencing tremendous growth. Legal cannabis markets in the United States are expected to grow...
Why Independent Agents Should Take Advantage of a Higher Standard of Care
Sep 8 2014 // I’ve had many independent agents (IAs) vent, fume, exclaim, yell, scream, curse and express total exasperation at losing an account because a captive or direct writer undercut the price while promising speculative...
Surplus Carriers Search for Growth Never Ends
Sep 8 2014 // In 2013, net income more than doubled from the $1.57 billion reported in 2012, according to the “2013 U.S. Surplus Lines Market Review” published by A.M. Best. Not resting on their laurels, surplus lines...
Near National P/C Carriers Identified for 2014
Sep 8 2014 // The original criteria and objective definition for the Near Nationals was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one of 11...
Usage-Based Insurance Overcoming Privacy Concerns, Gaining Traction
Sep 5 2014 // Consumers as well as commercial fleet managers are becoming more accepting of usage-based insurance (UBI) in which a telematics device is used to track driving behavior as safety and savings benefits appear to be trumping...
