Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Captive Insurers Grow Their Third-Party Business with Help from Digital Tools: Marsh
May 30 2019 // The number of captive insurance companies writing third-party business is growing at double-digit pace as the digital era expands the ways that organizations can provide and service insurance, according to global insurance...
8 Considerations for Buyers and Sellers of Insurance Agencies
May 30 2019 // Insurance agency acquisitions and deal values are near an all-time high and all expectations are that deal flow in 2019 will match or exceed last year’s numbers. And while reported numbers tend to skew towards larger...
California Commissioner Wants Insurers to Extend Living Expense Coverage for 2017 Wildfire Survivors
May 29 2019 // California Insurance Commissioner Ricardo Lara on Wednesday announced two new actions intended to assist survivors of the 2017 North Bay Fires who are facing unavoidable delays in rebuilding. The California Department of...
Insurers Face Minimal Losses from Peru and Ecuador Earthquake: A.M. Best
May 29 2019 // A.M. Best said it does not foresee a major impact to the domestic insurance markets in Peru or Ecuador following a significant earthquake centered in Peru that also affected several provinces in neighboring Ecuador. On May...
Lawsuit: Insurer Says No-ah to Kentucky Ark Attraction’s Rain Damage Claim
May 28 2019 // In the Bible, the ark survived an epic flood. Yet the owners of Kentucky’s Noah’s ark attraction are demanding their insurance company bail them out after heavy rains caused nearly $1 million in property...
Title Insurer First American Says App Defect May Have Exposed Customer Data
May 28 2019 // U.S. real estate title insurance company First American Financial Corp. said on Friday it had learned of a design defect in one of its production applications that had made possible unauthorized access to customer...
Keyless Car Crime Drives 20% Hike in UK Motor Theft Claims in 1st Quarter
May 28 2019 // The cost of UK motor theft claims paid by insurers in the first quarter rose by more 20% from the same period last year, according to the Association of British Insurers (ABI). The ABI report revealed that the number of Q1...
Texas Windstorm Insurer Withdraws 10% Rate Increase Filing
May 28 2019 // Texas’ property insurer of last resort for wind and hail along the Texas coast voted at a May 24, 2019, meeting of its board of directors to withdraw a 10% rate increase filed last year that was subsequently put on...
Issuer Credit Rating Outlook Revised to Stable for Church Mutual Insurance Group
May 28 2019 // AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” of...
Insurers Gaining, Banks Losing Ground in Finance, Says European Central Bank Governor
May 28 2019 // The role of banks as providers of finance has started to erode in Europe and some other parts of the world, the Bank of Finland’s governor Olli Rehn said on Friday, calling for new central bank tools to safeguard...
Rochester Property Owner Indicted for Defrauding Banks, Insurance Companies
May 24 2019 // Prominent upstate New York landlord Robert Morgan is charged in a 114-count federal indictment with defrauding banks and insurance companies out of millions of dollars by inflating property values and insurance claims...
Alaska Air Carrier Suspends Operations After 2nd Crash
May 23 2019 // An Alaska air carrier involved in two deadly floatplane crashes in a week has voluntarily suspended operations, federal officials said. The halt of flightseeing and commuter flights is in place indefinitely, according to...
Nevada Reaches Tentative Settlement Homeowners and Insurers in Wildfire Suit
May 21 2019 // The state of Nevada has reached a tentative settlement with dozens of homeowners and insurance companies that filed an $80 million negligence lawsuit after a fire destroyed 24 homes when strong winds reignited a smoldering...
Nigeria Raises Insurers’ Minimum Capital Requirement
May 21 2019 // Nigeria increased the minimum capital requirement for insurers more than threefold as the industry regulator seeks to to improve the sector’s risk management. Existing companies must comply by June next year, while...
Connecting the Dots in Agency Technology
May 20 2019 // To say the agency technology space is robust is an understatement. Right now, the industry is seeing an “onslaught of technology available to enable agents and brokers to better manage, not only their business, but...
The Impact Of State-Level Legalization of Marijuana on the Insurance Industry
May 20 2019 // The changing legal status of marijuana in the U.S. is prompting insurers to begin offering coverages, despite having extremely limited loss data to inform them. While marijuana remains illegal at the federal level, action...
London Marine Insurers Expand Middle East Threat Zone After Saudi Ship Attacks
May 17 2019 // London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could...
Insurer Says Iran’s Guards Likely Facilitated Saudi Tanker Attacks: Reuters
May 17 2019 // Iran’s elite Revolutionary Guards (IRGC) are “highly likely” to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a...
Bank of England Warns Against Weakening Rules for Insurers, Banks After Brexit
May 17 2019 // Weakening rules for banks and insurers after Brexit would be “anathema,” but Britain could change its style of regulating to respond faster to change, Bank of England Deputy Governor Sam Woods said on...
Boeing 737 Max Crashes Could Cost European Insurers $450 Million
May 17 2019 // Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving Boeing Co. 737 Max planes. Munich Re reckons it could pay 150 million euros ($168 million), an estimate...
