Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Captives Remain Profitable, Outperform Commercial Insurers, Reports A.M. Best
Jul 30 2019 // U.S. captive insurance companies rated by A.M. Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’s counterparts in the commercial casualty sector, according...
Texas Windstorm Insurer: Rate Inadequacy Up Year Over Year
Jul 29 2019 // In advance of its Aug. 6 board meeting in Galveston, the insurer of last resort for wind and hail in counties along the Texas coast said it has determined its residential coverage rates are inadequate by 41.7 percent and...
Insurer Pulls Plug on Socially-Conscious Investment Platform Targeting Millennials
Jul 29 2019 // In 2017, Pacific Life Insurance Co. introduced a socially conscious, online investing platform tailored to thirtysomethings eager to use their assets to make the world a better place. Those investors proved more expensive...
Wisconsin’s McDonald Insurance Agency Joins Keystone Insurers Group
Jul 26 2019 // Keystone Insurers Group (Keystone) has added McDonald Insurance Agency of Hudson to its list of Wisconsin partners. McDonald Insurance Agency has been serving Wisconsin and Minnesota since 1977, and is licensed in multiple...
Data-Deprived Auto Insurers Cautious About Discounts for Advanced Safety Features
Jul 26 2019 // Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are waving a caution flag at consumers eyeing discounts for buying collision-avoiding brakes or automated cruise...
Louisiana Workers’ Comp Carrier, LWCC, Adds Irby, Promotes Sanders
Jul 25 2019 // Baton Rouge, Louisiana-based workers’ compensation provider, LWCC, has hired Seth Irby as chief marketing and customer experience officer, and promoted Gary Sanders to vice president. Irby brings to LWCC a variety of...
Insurers Owed $20 Billion Offer Own Rescue Plan for PG&E in Bankruptcy Court
Jul 25 2019 // Insurance companies that say Pacific Gas & Electric owes them more than $20 billion from wildfire claims wants to take over the California utility and pull it out of bankruptcy. The group of insurers filed court...
Northeast Insurer Kingstone to Exit Commercial Liability Lines
Jul 25 2019 // Kingstone Companies Inc., a Northeast regional property and casualty insurance holding company, has announced that its wholly owned subsidiary, Kingstone Insurance Company (KICO), has decided to no longer underwrite...
First Half Natural Disasters Cost Insurers $20B, Down 26% from 18-Year Average: Aon
Jul 25 2019 // Global insured losses from natural disasters during the first half were estimated at US$20 billion, which is 26% lower than the H1 average of US$27 billion seen during the years 2000-2018, according to Aon’s...
Washington Commissioner Fined Carriers, Producers and Others $724K in June
Jul 25 2019 // Washington Insurance Commissioner Mike Kreidler disciplined and issued fines in July totaling $724,000 against insurance companies, agents and brokers and others who violated state insurance regulations. Following are the...
Largest U.S. Data Breach Settlements with Government Include 3 Insurers
Jul 23 2019 // The U.S. Federal Trade Commission announced on Monday that Equifax Inc. will pay up to $700 million for a data breach that exposed millions of consumers’ personal information. The following are seven of the largest...
Insurer Beazley’s 1st Half Earnings Nearly Triple on Higher Premium Rates
Jul 23 2019 // Lloyd’s of London insurer Beazley Plc said on Tuesday its first-half earnings nearly tripled from last year, as it wrote more policies at higher rates and said it expects double-digit premium growth over the...
Insurer Innovation Comes Under the Rating Agency Microscope
Jul 22 2019 // Underway for some time now, the disruption of the insurance industry has moved into a new phase, following the announcement by A.M. Best that it may soon begin scoring insurers’ innovation efforts. Journalist Russ...
Legacy Acquisition Firm DARAG Buys UK Insurer, The Underwriter
Jul 22 2019 // DARAG Group Ltd., a Malta-based legacy acquirer, announced the acquisition of The Underwriter Insurance Co. Ltd., a UK-based insurer in run-off. The transaction will be completed through DARAG Deutsche Versicherungs-und...
Expert Outlines 5 School Insurance Liability Issues to Watch
Jul 19 2019 // Lilian A. Vanvieldt, senior vice president, educational entities practice leader for the national insurance agency Alliant, has spent more than three decades insuring schools across the country. Her book of business spans...
Specialty Insurer ProSight Hopes to Raise $140 Million with IPO
Jul 18 2019 // ProSight Global Inc. announced its IPO terms, which include expectations of raising at least $140 million. The specialty insurer said the company’s initial public offering would involve more than 8.8 million shares...
Plymouth Rock Assurance to Acquire New Jersey’s Rider Insurance Company
Jul 17 2019 // Plymouth Rock Assurance has agreed to expand its investment in the motorcycle insurance segment with the acquisition of Rider Insurance Company, subject to regulatory approvals. A New Jersey-based motorcycle insurance...
Freak Weather Risks India’s Renewable Energy Goals, Affecting Insurers, Lenders
Jul 17 2019 // India’s ambitious plan to take the leadership position among nations as one of largest producers of renewable energy may have run into some unfavorable weather. Freak climatic conditions are damaging renewable energy...
By Taming Big Data with AI, Cytora Aims to Transform Commercial Underwriting
Jul 17 2019 // It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward...
Florida Gets Ready for Peak Hurricane Season After 3 Years of Major Storms
Jul 17 2019 // Floridians are on alert as the state heads into peak hurricane season after three straight years of being impacted by major storms. Meanwhile, the Florida Panhandle continues its recovery from Hurricane Michael that...
