Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
North Carolina Insurance Fraud Round-Up: January, February
Mar 13 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the first two months of 2019. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to...
Insurers Face Big Claims from Victims’ Families After Boeing 737 MAX Crash: Sources
Mar 12 2019 // Boeing Co.’s insurers face big claims from families of the victims of the Ethiopian Airlines crash, coming less than six months after the crash of the same type of Boeing aircraft in Indonesia, insurance and aviation...
Demotech: Expect 2018 Catastrophe Losses to Impact Florida-Based Insurers
Mar 12 2019 // After reviewing the year-end financial statements of the Florida-based carriers it rates, Ohio-based ratings agency Demotech is warning that many insurers could see underwriting and operating losses in their year-end...
Connecticut Lawmakers Continue Push to Address Crumbling Foundations
Mar 11 2019 // Connecticut lawmakers were urged Friday to pass additional legislation to address the state’s crumbling foundations problem and also find additional funds to help impacted homeowners. Michael Marglaras,...
