Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Mexican Insurers Will Absorb Losses from Hurricane Willa: A.M. Best
Oct 25 2018 // Mexico’s insurance industry overall remains well-capitalized and can absorb the financial impact generated from Hurricane Willa, according to an A.M. Best briefing. Hurricane Willa made landfall on Oct. 23 on...
Insurers Under Scrutiny in Puerto Rico with 13,600 Hurricane Maria Claims Still Open
Oct 25 2018 // Thousands of Puerto Ricans have been forced to drain their savings, close their businesses, or resign themselves to living with structural damage as they fight insurance companies over millions of dollars’ worth of...
Utility, Insurer Sued Over Damage to Voting Machines in Mississippi County
Oct 25 2018 // A southwest Mississippi county is suing an electrical utility and its own insurer, seeking more than $500,000 for damage to voting machines caused by a 2016 power outage. The Enterprise-Journal reports Pike County earlier...
Fidelis Sets Up Re/Insurer in Dublin to Prepare for Brexit; Senior Leaders Appointed
Oct 24 2018 // Fidelis Insurance Holdings Ltd. announced it has established a regulated re/insurer in Ireland, called Fidelis Insurance Ireland DAC (FIID), to take advantage of opportunities in the European Economic Area (EEA) after...
French Insurer April Attracts Interest From Private Equity Firms CVC, KKR
Oct 24 2018 // French insurer April SA has drawn takeover interest from private equity firms including CVC Capital Partners, KKR & Co. and BC Partners as it weighs a sale amid a wave of industry consolidation, according to people...
Australia Life Insurers Will Be Required to Publish Customer Dispute Numbers
Oct 24 2018 // Australia’s life insurers will be required to publish customer dispute numbers every six months, top financial regulators said on Wednesday, as a misconduct inquiry threatens other reforms that could hurt industry...
Judge Dismisses Nebraska County’s Claim Against Insurers
Oct 23 2018 // Gage County’s insurance policies from a Nebraska risk-sharing pool of companies don’t cover $28.1 million that a jury awarded to six people who were wrongfully convicted in the 1985 rape and killing of a woman,...
A.M. Best Upgrades Workers’ Comp Carrier ICW Group in California
Oct 23 2018 // A.M. Best Company has upgraded the Financial Strength Rating of San Diego, Calif.-based ICW Group Insurance Cos. to “A” (Excellent) from a “Stable” outlook. A.M. Best said its ratings reflect the...
China Insurer PICC Cuts Size of IPO in Response to Collapse in Market Prices
Oct 22 2018 // The People’s Insurance Company (Group) of China Ltd., the nation’s largest property insurer, cut the size of a planned first-time domestic share sale and indicated it will proceed when the market improves. The...
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
Update: Swiss Re Weighs Investment in Chinese Insurer Anbang, Say Sources
Oct 21 2018 // China’s attempts to find new investors for Anbang Insurance Group Co. are gathering pace, as Cerberus Capital Management LP to Swiss Re AG size up the embattled insurer and its overseas operations. Cerberus and Swiss...
Danish Insurer Qudos Ceases Underwriting, Pending Restructuring
Oct 19 2018 // Copenhagen-based Qudos Insurance will cease underwriting new business with immediate effect, pending a restructuring of the business, announced parent company New Nordic Advisors. New Nordic said it aims to re-launch the...
15 Emerging Risks from Policies to Playgrounds, Sandboxes to Scooters
Oct 18 2018 // When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some...
New Hampshire Insurance Company Trains Workers on Overdose Reversal Drug
Oct 18 2018 // Employees at one of New Hampshire’s community mental health centers are getting trained to administer overdose reversal drugs. Harvard Pilgrim Health Care on Friday held a training session for employees at Riverbend...
Texas Windstorm Insurer’s Request to Hike Liability Limits Denied
Oct 18 2018 // Texas Insurance Commissioner Kent Sullivan has declined to approve the request by the state’s property insurer of last resort for wind and hail along the Texas coast to increase maximum limits of liability for...
Regulators, Industry Seek to Keep Florida AOB Abuse In Check After Michael
Oct 18 2018 // Haley Nelson inspects damages to her family properties in the Panama City, Fla., spring field area after Hurricane Michael made landfall in Florida’s Panhandle on Wednesday, Oct. 10, 2018. (Pedro Portal/Miami Herald...
Insurer Group Hammers Claim that California Prop 103 Saved Drivers Billions
Oct 17 2018 // The insurance industry is taking exception to a new report commemorating the 30th anniversary of one of California’s primary auto insurance laws that claims the law has saved drivers billions of dollars. The Consumer...
Virginia’s Prosper Insurance Company to Expand Headquarters, Add 75 Jobs
Oct 17 2018 // Prosper Insurance Company has announced it will expand from its 6,000-square-foot headquarters in Virginia Beach, Va. The corporate investment is expected to be $750,000 with the buildout, furniture, fixtures and...
Specialty Insurer StarStone Taps Hendrickson from Validus as CEO, Replacing Smith
Oct 17 2018 // StarStone, the London-based specialty insurer, announced the appointment of John Hendrickson as group chief executive officer of StarStone Group, with immediate effect. He succeeds Demian Smith, who resigned in September...
P/C Insurers Double Net Income in First Half of Year
Oct 16 2018 // U.S. property/casualty insurers saw their net income after taxes more than double to $34 billion in first-half 2018 from $15.5 billion in first-half 2017, with the help of lower catastrophe losses, growing premiums, and an...
