Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Mass. Court Finds Insurer Duty to Defend Subcontractor in Property Damage Case
Mar 20 2019 // A Massachusetts Appeals Court has ruled that an insurance company is responsible for insuring alleged property damage caused by its subcontractor client, vacating an earlier Superior Court decision that the insurer has no...
Mississippi Deputy Accused of Cheating Insurer Out of Nearly $13K
Mar 19 2019 // A Mississippi sheriff’s deputy and another man face felony charges after authorities said they cheated an insurance company by falsely claiming an off-road vehicle was stolen. Federal prosecutors said Friday that...
Insurance Industry Has Major Impact on Illinois’ Economy, Study Shows
Mar 19 2019 // A new study shows that Illinois insurance companies, agents and brokers continue to fuel the economy with quality jobs, revenue and investments, the study’s sponsors say. The recently released study was conducted by...
Commentary: How Florida AOB Crisis Is Impacting State’s Independent Agents
Mar 19 2019 // Florida’s “one-way attorney fee” statute enacted to protect Florida policyholders from large insurance companies has instead spawned a huge industry of assignment of benefits (AOB) predators who take...
Texas Insurer Group, State Farm Begin North Texas ‘Storm Tour’
Mar 18 2019 // Severe storms in Texas last week caused an estimated $30 million in damage and generated some 6,000 wind-related insurance claims, according to the Insurance Council of Texas, which joins State Farm Insurance in conducting...
Wading into Flood Waters
Mar 18 2019 // Agents Should Place Added Focus on Coverage Differences in Expanding Private Flood Market It has been a long-held insurance axiom that flood is not considered an insurable peril due to its potentially catastrophic nature....
P/C Direct Premium Written Up 5.9 Percent
Mar 18 2019 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2017, over $636 billion of DPW was reported, a record high for the industry. For 2017, total DPW...
How Workers’ Comp Brokers Can Increase Commissions by 81%
Mar 18 2019 // Workers’ compensation brokers frequently overlook a risk-free method to nearly double their commissions while improving their client’s overall financial position. The use of a captive insurance company to...
Progressive Looks to Lead the Pack of Multiline Insurers
Mar 18 2019 // With much of the property/casualty insurance industry’s attention focused on external threats from insurtechs and digital native companies, perhaps the greatest disruption is coming from within. Following the past...
Consumer Advocacy in an Age of Consumer, Insurer Options
Mar 18 2019 // Today’s Insurance Consumer Advocates Are Tackling Some New and Old Issues Years ago, insurance consumer advocates in the states were most often focused on getting consumers access to insurance at fair prices. They...
3 Claims Areas Where Property Insurers Disappoint Customers
Mar 18 2019 // Property insurers are falling short in some areas of the claims process even as they earn high marks for overall customer satisfaction, according to the J.D. Power 2019 U.S. Property Claims Satisfaction Study. J.D. Power...
Beyond Nassar: Michigan State Creates Captive, Explores Other Insurance Options
Mar 18 2019 // Michigan State University continues to explore its insurance coverage options with regard to sexual assault or molestation claims brought against the school after rejecting renewal coverage offered by its long-term...
Online Flood Insurer Neptune Expands Coverage to 6 New States
Mar 15 2019 // Neptune Flood, an all-digital online flood insurance company, has expanded its coverage to residents of Missouri, Colorado, New Hampshire, Rhode Island, West Virginia, and Indiana – bringing the total number of states...
Florida Governor Urges Lawmakers to Address AOB as Reforms Move Forward
Mar 15 2019 // Just over a week into the 2019 legislative session, insurance industry-supported bills aimed at reforming Florida assignment of benefits (AOB) abuse are making progress in the state legislature. Lawmakers in the Florida...
Climate Activists to Pressure U.S. Insurers Underwriting Fossil Fuel Industry
Mar 14 2019 // Expect calls for the insurance industry to stop investing in or insuring the fossil fuel industry and fossil fuel projects to grow louder in California and throughout the U.S. A new petition by several climate change and...
AM Best Revises Outlooks for Virginia Farm Bureau Mutual Insurance Company
Mar 14 2019 // AM Best has revised the outlooks to positive from stable and affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of “a-” for the members of the Virginia Farm Bureau...
Rhode Island Horse Insurer Gets Three Years in Prison for $1.3M Fraud Scheme
Mar 14 2019 // A Rhode Island insurance agent who specializes in insuring horses has been sentenced to three years in prison for defrauding clients, insurance companies and finance companies out of $1.3 million. Federal prosecutors say...
Insurers Remain Cautious About Marijuana Insurance Market
Mar 14 2019 // The marijuana industry is an opportunity for insurers as more states have legalized the drug. But there are still risks in play that could limit wider carrier participation, A.M. Best said in a new report. One of the key...
Industry Awaits Florida Supreme Court Decision on Post-Loss AOB Policy Language
Mar 14 2019 // As Florida lawmakers weigh reform for the state’s assignment of benefits crisis, the insurance industry and regulators are closely monitoring a case addressing post-loss policy language that is currently before the...
Aon, Insurtech Zesty.ai Partner to Enhance Property Underwriting with AI Data
Mar 13 2019 // Aon has formed a strategic alliance with Zesty.ai, a San Francisco-based insurtech startup, which uses artificial intelligence (AI) to enhance insurers’ property underwriting. Zesty.ai’s technology provides...
