Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Pet Insurer Trupanion Raises $71 Million in IPO
Jul 18 2014 // Shares of Trupanion Inc. rose as much as 15 percent in their market debut, valuing the pet insurer at $304 million, as investors bet on growing demand among pet owners to insure their cats and dogs. The company raised...
Senate Passes TRIA Renewal with Broker Licensing Provision
Jul 17 2014 // In a 93-4 vote, the Senate today passed the Terrorism Risk Insurance Program Reauthorization Act of 2014 (S. 2244 ) that extends the federal reinsurance program for seven years. In addition to extending the Terrorism Risk...
N.Y. DFS Disapproves NYCIRB’s +6.8% Loss Cost Level Change Filing
Jul 17 2014 // The New York Compensation Insurance Rating Board (NYCIRB) announced in a bulletin yesterday that the New York Department of Financial Services (DFS) issued an opinion and decision letter disapproving the +6.8 percent...
North Carolina Hearing on 25% Homeowners Hike Moved to October
Jul 17 2014 // North Carolina’s insurance commissioner has postponed until October a hearing into a request by homeowners insurance companies to raise rates by an average of 25 percent statewide. Commissioner Wayne Goodwin said the...
Fitch Forecasts Shrinking P/C Insurer Profits
Jul 17 2014 // Fitch Ratings is forecasting that 2014 will end up as the second consecutive year of underwriting profits for the property/casualty industry with modest increase in the combined ratio. But the results for 2014 won’t...
Starr Companies Completes Majority Ownership of Chinese Insurer
Jul 17 2014 // Starr Companies has announced the completion of its majority ownership of Shanghai based Dazhong Insurance Company Limited of China. The company will be renamed as Starr Property & Casualty Insurance (China) Company,...
Getting a Grip on Ridesharing Coverage
Jul 17 2014 // Ridesharing services are becoming increasingly popular among consumers looking for a more convenient alternative to taxis or other forms of public transportation, and new ridesharing companies have been cropping up...
Analysis: NFL Concussion Decision Could Change Liability Policies
Jul 16 2014 // Insurance industry professionals and attorneys are closely following the most recent concussion-based litigations as they proceed through state and federal courts. Just last week in the well-publicized In re National...
Iowa Agent Gets 41 Months in Prison for Defrauding Insurance Companies
Jul 15 2014 // A former Des Moines, Iowa, insurance agent was sentenced to 41 months in prison for insurance fraud, the Iowa Insurance Division announced. Melissa Ilene Williams, of Dike, Iowa, also was ordered to pay restitution for...
Everest Re Group Names Carrier European General Manager
Jul 15 2014 // The Bermuda-based Everest Re Group, Ltd. announced that Andrew Carrier will be joining the Company as President of Everest Advisors, UK and General Manager of European Operations, as of November 3, 2014. Carrier will join...
Insurers in Dash for Expertise to Master Cyber Risk Insurance
Jul 14 2014 // Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market but their lack of experience and skills handling hackers and data breaches may keep their ambitions in check. High profile cases of hackers...
North Carolina Looks to Grow Captive Insurance with Amended Law
Jul 11 2014 // North Carolina Insurance Commissioner Wayne Goodwin said North Carolina is now an even more attractive home for captive insurance companies with the enactment of a law allowing new captive types and providing some...
Golf Ball-Sized Hail Batters South African Insurers’ Earnings Outlook
Jul 11 2014 // Angela Dike was showing clients how to make duck red curry and chocolate spring rolls in her Thai cooking class when hail stones as big as golf balls started slamming into the 18 cars parked outside. Windscreens and...
Non-Covered Claims May Exhaust Primary Limits, Trigger Umbrella
Jul 10 2014 // A recent ruling from the Fifth Circuit Court of Appeals in Louisiana clarified that an umbrella policy may be triggered even when the underlying insurance is exhausted by claims that would not be covered by the umbrella...
New Specialty Insurer SIG Targets Sports, Entertainment Risks
Jul 10 2014 // Three specialty and risk insurance veterans have launched Specialty Insurance Group (SIG) to provide custom programs for the sports, leisure and entertainment markets. The new Indianapolis-based firm is a member company of...
Agent Appointment Fee Reduction in Ohio Expected to Save Insurers $11.3M
Jul 9 2014 // A reduction in the fee insurance companies pay to “appoint” insurance agents is expected to result in $11.3 million in reduced annual costs, Lieutenant Governor and Department of Insurance Director Mary Taylor...
Chicken Producer, London Insurers Battle Over ‘Recall’ Definition
Jul 9 2014 // Foster Farms and its London insurers are facing off over the definition of “product recall” as the poultry producer seeks payment of $14.2 million in claims arising from a government-mandated shutdown of one of...
Wisconsin Insurer Fails to Activate Coverage for Nearly 300
Jul 8 2014 // Nearly 300 people who applied for stand-alone dental coverage from Anthem Blue Cross Blue Shield Wisconsin through the federal health care exchange thought they had policies but didn’t have them activated, according...
ACE to Acquire Brazil’s Commercial P&C Insurer Itaú Seguros
Jul 7 2014 // ACE Limited announced that it has reached a definitive agreement to acquire the large corporate property and casualty (P&C) business of Itaú Seguros, S.A. from Itaú Unibanco S.A. for approximately $685 million. ACE...
Insurer Helvetia Agrees to Buy Nationale Suisse in $2 Billion Deal
Jul 7 2014 // Helvetia Holding AG agreed to buy a majority stake in Nationale Suisse in a transaction valuing the company at about CHF1.8 billion ($2 billion) to create Switzerland’s third-largest insurer. Helvetia is offering...
