Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
In Race for New Personal Lines Insurance Business, Exclusive Agents at Disadvantage
Apr 26 2019 // Personal lines insurers have only one option when it comes to growing their business: they must steal market share from competitors. That’s because each year brings very few new customers. Only about two to three...
Lloyd’s Innovation Drive Faces Headwinds from Some Brokers, Underwriters
Apr 26 2019 // Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. Old-fashioned business practices, exposure to natural disasters, competition from rival centers and Brexit...
Minnesota AG: For-Profit Health Insurers Could Raid State’s Reserves
Apr 25 2019 // Minnesota Attorney General Keith Ellison has called on lawmakers to reverse a consequence of 2017 law that repealed the state’s ban on for-profit health maintenance organizations, saying for-profit companies could...
Direct-to-Consumer Auto Insurers Grabbing Market Share
Apr 25 2019 // Direct-to-consumer auto insurers appear to be gaining serious market traction, according to a report from J.D. Power. The firm reports that auto insurance revenue hit $245 billion in 2018, reflecting industrywide growth of...
Japan Insurers to Invest in Riskier Non-Government Bonds, Seeking Higher Returns
Apr 25 2019 // As bond yields evaporate globally, many Japanese insurers are looking to secure higher returns at home and abroad by diversifying into riskier corporate and other non-government bonds in the financial year that began this...
Florida Governor to Sign AOB Reform Bill; Citizens Plans Rate Review
Apr 25 2019 // Florida Governor Ron DeSantis has signaled his support of a property insurance reform bill passed by the Florida Senate Wednesday, saying in a statement Wednesday he will sign the legislation that the insurance industry...
Newfront Insurance in California Names Kaneko Head of Carrier Relations
Apr 25 2019 // Newfront Insurance in California has named Garett Kaneko head of carrier relations. Kaneko will manage external market relations and partner strategy as well as overall business and growth strategy for Newfront. Kaneko has...
Update: Florida Legislature Passes Industry-Backed AOB Reform Bill
Apr 24 2019 // After seven years of failed attempts, Florida legislators have passed property insurance reform to address the abuse of a policyholder benefit known as assignment of benefits (AOB). The insurance industry and consumers...
Wading Through Coverage Differences in Expanding Private Flood Insurance
Apr 24 2019 // It has been a long-held insurance axiom that flood is not considered an insurable peril due to its potentially catastrophic nature. Here is what the report, “Affordability of National Flood Insurance Program...
California Insurance Commissioner Rejects Petition to Require Fossil Fuel Underwriting Disclosure
Apr 23 2019 // California’s new insurance commissioner wasn’t getting along so well on Earth Day with groups of climate change and consumer activists. California Insurance Commissioner Ricardo Lara, who put battling climate...
The Lowdown: The Silent Battle Between Agencies and Companies
Apr 23 2019 // Chris Burand, President of Burand & Associates P&C insurance companies are scared. Not all are scared, of course. Some are big enough, some are smart enough, and others are ignorant enough to not be scared about...
North Dakota ‘Marsy’s Law’ Case Questions Whether Insurer Is a ‘Victim’
Apr 22 2019 // The North Dakota Supreme Court could soon clarify who is considered a victim under Marsy’s Law, which embedded victim’s rights into the state constitution. The high court is expected to rule in the upcoming...
Europe’s Storm Dragi-Eberhard Costs Insurers Estimated €740M ($831.8M): PERILS
Apr 22 2019 // The initial insured property losses for extratropical cyclone “Dragi-Eberhard,” which hit the British Isles, and Western and Central Europe on March 9-10, 2019, are estimated at €740 million ($831.8 million),...
Sports Sponsorship: It’s a New Ball Game for Insurers. Learn How Leading Carriers are Winning.
Apr 22 2019 // Brad Auerbach Head of Industry for Insurance, Facebook Insurance carriers invest heavily in sports activations, from stadium rights to tour sponsorships. Historically, the traditional sponsorship model has been an...
Wisconsinites Push for Safeguards in Prescription Drug Step Therapy Process
Apr 22 2019 // People struggling with chronic diseases joined doctors and other advocates in making the case on April 17 for a bipartisan proposal in the Wisconsin Legislature designed to make it easier for patients to get needed...
Fitch Keeps Stable Outlook for P/C Insurers After Underwriting Profit in 2018
Apr 22 2019 // After two consecutive years of combined ratios above 100, the U.S. property/casualty industry returned to a modest statutory underwriting profit in 2018 as catastrophe losses slowed, premium growth accelerated and several...
AIG Settles Another Claim Against Cosby, Who Again Blasts Insurer
Apr 18 2019 // Bill Cosby’s insurance company has settled another lawsuit filed by a female accuser a week before the imprisoned comedian was set to give a deposition in the case, prompting Cosby to call the insurer...
Catastrophe Insurer Palomar Announces IPO Pricing, Shares Rise 1st Day of Trading
Apr 17 2019 // La Jolla, Calif.-based Palomar Holdings Inc. this week announced the pricing of its initial public offering of its common stock at a price of $15 per share and in its first day of trading on Wednesday it had at one point...
Missouri Department Receives 8K Complaints Against Insurers in 3-Year Span
Apr 17 2019 // Over a three-year period between 2016 and 2018, the Missouri Department of Insurance received almost 8,000 complaints against companies providing selected lines of insurance, according to a report recently released by the...
Washington Commissioner Fines Pet Insurer $25K
Apr 16 2019 // Washington Insurance Commissioner Mike Kreidler issued fines in March totaling $158,000 against insurance companies, agents and brokers for violating state insurance regulations, including one fine of $25,000 levied...
