Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
P/C Insurers Turned Profit on Underwriting in Q1, Attained Record Surplus
Jun 24 2013 // First quarter results for U.S. property/casualty insurers show they made a profit on underwriting for the first time since late 2009. Private U.S. property/casualty insurers’ net income after taxes rose to $14.4...
Auto Insurance Customer Satisfaction Drops Due to Rising Rates: J.D. Power
Jun 24 2013 // Due to rising insurance prices and some unhappiness with policy offerings, overall customer satisfaction with auto insurance companies is down in 2013 from an all-time high in 2012, but remains comparatively high relative...
Geneva Association Ocean Warming Report Reviews Implications for Re/Insurers
Jun 24 2013 // “In some high-risk areas, ocean warming and climate change threaten the insurability of catastrophe risk,” according to one of the conclusions of a research report issued today by the Climate Risks and...
Industry Group Opposes Massachusetts Proposal to Set Auto Labor Rates
Jun 21 2013 // The National Association of Mutual Insurance Companies is opposing bills currently under consideration in Massachusetts that would require the state to set a minimum hourly labor rate that insurers must pay for auto...
North Carolina Enacts Captive Insurance Bill
Jun 21 2013 // A recently enacted bill in North Carolina will permit, for the first time, the creation of captive insurers based in the Tar Heel State. The North Carolina Captive Insurance Act (HB 473) was signed into law by Gov. Pat...
Positioning with Companies as the Market Changes
Jun 21 2013 // A huge amount of press has been devoted to how important price is to insurance buyers — and it clearly is. But this is not specific to insurance. Price is a key factor in almost all buying decisions, excluding medical...
Survey: Specialty Carriers Look to Grow Through Program Business in 2013
Jun 20 2013 // Guy Carpenter & Co., LLC, a global risk and reinsurance specialist and member of Marsh & McLennan Cos., has released the findings of its eighth annual Specialty Insurance Program Issuing Carrier Survey. The survey,...
U.S. Regulators See No Need for Enhanced Insurer Capital
Jun 19 2013 // Insurers should not be forced to hold extra capital just because of their size, because the extra cost would simply be passed on to consumers, U.S. regulators said on Tuesday. G20 world leaders have backed imposing extra...
Market Forces, Technology Transforming P/C Agents’ Role: McKinsey
Jun 19 2013 // A report this month from consulting firm McKinsey & Company says market forces and technology are changing the role of the agent in the property/casualty insurance distribution. The report, titled “Agents of the...
Iowa Health Insurer to Seek Smaller Rate Hikes
Jun 19 2013 // Months after customers blasted the company for skyrocketing rates, Iowa’s dominant health insurer says it will limit premium increases in 2014 to less than six percent for individual and small business...
Why Restaurant Franchises Make Good Program Business
Jun 19 2013 // One industry segment ideal for the program market and somewhat immune to the effects of a battered economy is the fast-food, multi-unit restaurant franchise industry, the experts say. The larger a company grows, the slower...
IPO-Seeking China Companies Pay More to Avoid Boards Going Naked
Jun 18 2013 // Stephen Markscheid holds one of the riskiest jobs in the world — or so say directors and officers liability insurers. The 59-year-old former banker, a Mandarin-speaking American, sits on the boards of five...
Analysts: Travelers/Dominion Deal Makes Sense, More U.S.-Canadian M&A May Follow
Jun 18 2013 // The Travelers Companies’ decision to acquire Dominion of Canada General Insurance, a unit of E-L Financial Corp., for $1.1 billion makes strategic sense, according to analysts. The acquisition now allows Travelers to...
Canada’s P&C Insurers to Expand with ‘Receivables Insurance Association’ Launch
Jun 18 2013 // The Canadian property and casualty insurance industry is expanding with the launch of the Receivables Insurance Association of Canada. “Less than 1 percent of Canadian companies currently utilize receivables...
Oklahoma Commissioner Advises Insurers to Delay Nonrenewals
Jun 17 2013 // Insurance Commissioner John D. Doak has issued a bulletin to all Oklahoma-licensed property and casualty insurers and insurance producers, advising them to keep customers on their current policies for at least 60 days...
Report: California Workers’ Comp Insurers’ Return on Worth Up
Jun 17 2013 // California workers’ compensation insurers’ average return on net worth increased for the second year in a row in 2011, according to the latest National Association of Insurance Commissioners report on insurer...
Insurers Pay $600K in West Virginia Racism Case
Jun 17 2013 // Insurance companies will pay $600,000 to a former officer who sued the Sophia (West Virginia) Police Department over claims he was harassed and fired because he is black, Mayor Danny Barr said. That payout is more than the...
Solar Storm Threats Pose Emerging Risk for Industry: Lloyd’s
Jun 17 2013 // A large solar storm could leave tens of millions of people in North America without electrical power for several months, if not years, potentially costing trillions of dollars. That’s according to Lloyd’s...
N.Y. Reaches Agreements With 4 More ‘Force-Placed’ Insurers
Jun 17 2013 // New York officials announced that the state’s “force-placed” insurance reforms will now cover 100 percent of the New York market after the New York State Department of Financial Services (DFS) reached...
Regulators Examining Insurers’ Cyber Security Readiness
Jun 17 2013 // New York’s top financial regulator has asked some of the largest U.S. insurance companies to disclose details on their preparedness for cyber attacks, following a similar request to major banks earlier this year. The...
