Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurance Fraud Case in New York May Impact First Party No-Fault Benefits
Feb 14 2019 // A high-profile insurance fraud case on appeal in New York is being closely watched by fraud fighters across the country for the impact the decision will have on no-fault law. The case, Andrew Carothers, M.D., P.C. v....
UK Insurer Aviva Prepares for ‘Hard Brexit’ by Transferring Assets from UK
Feb 14 2019 // Aviva Plc asked a London court to approve the transfer of assets totaling 9 billion euros ($10.2 billion), saying the uncertainty from Brexit was “intensifying” as it joined other insurers and banks triggering...
AIG Reports Q4 Loss on Catastrophes, Lower Investment Returns
Feb 13 2019 // American International Group Inc. on Wednesday reported a quarterly loss as the insurer was hit with catastrophe losses and made a lower return on investments in a volatile market. Excluding realized investment gains and...
Insurer, Credit Union Settle South Dakota Suit over Premium Hikes
Feb 13 2019 // Black Hills Federal Credit Union in South Dakota and a Wisconsin-based insurance company have agreed to pay $3 million to settle a class-action lawsuit claiming they improperly raised insurance premiums on thousands of...
Narragansett Bay Insurance Company Relocates Corporate Offices in Rhode Island
Feb 13 2019 // Narragansett Bay Insurance Company (NBIC) has relocated its corporate offices to the Northwoods Office Park in Johnston, R.I. NBIC is a provider of homeowners insurance in Rhode Island and the Northeastern U.S., with...
Munich Re’s India Partner Weighs Selling Health Insurer Stake: Sources
Feb 13 2019 // Prathap C. Reddy and his family, founders of India’s Apollo Hospitals Enterprise Ltd., plan to sell their holdings in an insurance venture with Munich Re AG to repay debt, people with knowledge of the matter...
What? Women Pay More Than Men for Auto Insurance? Yup.
Feb 12 2019 // It’s a widespread belief that men pay more for automobile insurance than women. But that’s only true for young adults. Several studies in 2018 and 2017 revealed that women over 25, particularly those between 40...
Causey Schedules Hearing to Settle Rate Dispute with North Carolina Insurers
Feb 11 2019 // In response to a filing by North Carolina insurers for a 17.4 percent rate increase in homeowners insurance rates, North Carolina Insurance Commissioner Mike Causey has set a Sept. 4, 2019 hearing date, saying he does not...
Sanctions Against Sudan Are Lifted but Insurers Still Can’t Buy Overseas Reinsurance
Feb 11 2019 // Sixteen months after the United States lifted most sanctions on Sudan, businesses are unable to operate dollar transactions, insurance companies are cut off from the reinsurance market and the local airline is virtually...
Insurer Offers Employee Benefit Deal: Student Loan Relief for Unused Vacation Time
Feb 7 2019 // Starting next year, U.S. employees at insurance company Unum Group will have a choice: The company will put money toward their student loans, if the worker gives up five paid vacation days. The new perk is a creative twist...
North Carolina Auto Insurers Request 7.6% Rate Increase
Feb 5 2019 // The annual auto insurance filing from the North Carolina Rate Bureau to the North Carolina Department of Insurance calls for an overall statewide average increase of 7.6 percent, according to a statement from Insurance...
Iowa High Court: Insurer Not on Hook for Electrical Damage Caused by Squirrel
Feb 4 2019 // The Iowa Supreme Court says an insurance company doesn’t have to pay for damages after a squirrel climbed onto an electrical transformer and triggered a high-voltage spark that damaged a city’s power...
Japan Insurers Eye China Acquisitions in Continuation of Overseas Deal Spree
Feb 4 2019 // Japanese insurance companies have spent more than $50 billion on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down...
Parent-Centric Auto Insurer, Apparent, Launches in Texas
Feb 4 2019 // Apparent Insurance, a new auto insurance company designed for parents by parents, has begun offering coverage in Texas. The company has been established to provide specialized coverage and services for parents at every...
Lawmakers Need to Decide Nature of Texas Windstorm Insurer, Sunset Commission Says
Feb 4 2019 // To be the insurer of last resort for wind and hail insurance along the Texas coast — without state support and reliant on premium dollars and debt financing for funding, or to be a true insurance company that derives...
An Old Dog Up to New Tricks
Feb 4 2019 // For the seventh consecutive year, commercial auto is losing money. Despite rate increases in 23 of the past 25 quarters, the combined ratio topped 111 percent in 2017. The line has been a weak spot for many insurers,...
Navigating Today’s Nonprofit Insurance Market
Feb 4 2019 // Nonprofits are a lot like most insurance clients; there’s not much difference. They seek trusted and consultative relationships with their agents, brokers and carriers. They seek partners that understand their...
Wishes & Predictions… in their own words
Feb 4 2019 // Ely Kaplansky, President, Kaplansky Agency, MA Increased market share. Rate increases. Continued profitable growth. Crag Shink, Managing Partner, C.H. Shink & Associates, NY A harder market in some segments. Increasing...
AM Best Says Specialty Insurer Exposures to PG&E Bankruptcy Within Risk Appetites
Feb 1 2019 // Specialty companies specifically operating in the utility sector are likely to face substantial claims and losses stemming from the bankruptcy filing by PG&E Corp., the California utility whose equipment is being...
The Polar Vortex And Climate Change
Jan 31 2019 // A new report outlines the numerous risks insurers face from climate change. The report from Sustainalytics, a provider of ESG (environmental, social and governance) and corporate governance products and services, shows...
