Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Guggenheim Exploring Deal with Munich Re’s Asset Management Unit
Jun 21 2018 // Guggenheim Partners is exploring the sale of a stake in its $250 billion asset-management unit overseen by Scott Minerd, according to people familiar with the matter. Guggenheim Partners Investment Management has been in...
With Ambitions to Expand (and Disrupt Allianz), German Insurer DFV Weighs IPO
Jun 21 2018 // With ambitions to challenge insurance giants like Allianz SE, newcomer Deutsche Familienversicherung AG [DFV] needs 100 million euros ($116 million) in fresh funds to finance its expansion plan. An initial public offering...
Weiss Ratings Names Strongest, Weakest Homeowners Insurers in Texas
Jun 20 2018 // Palm Beach Gardens, Florida-based Weiss Ratings has named the six strongest providers of homeowners insurance doing business in Texas that are financially ready for the 2018 hurricane season. At the same time, Weiss...
Court Rules Failed California Workers’ Comp Insurer Can’t Use Special Funds for Administrative Expenses
Jun 20 2018 // The Appellate Court of Illinois has issued a decision supporting California Insurance Commissioner Dave Jones and the California Insurance Guarantee Association’s position that Lumbermens California workers’...
Two P/C Insurance Trade Groups — AIA and PCI — Plan to Merge
Jun 20 2018 // Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective...
Catastrophes Pushed Homeowners Insurers’ Combined Ratio Above 107 in 2017
Jun 20 2018 // After four years of sub-100 combined ratios for the U.S. homeowners insurers, the segment saw its combined ratio deteriorate to 107.1 in 2017 as a result of numerous catastrophes, according to an A.M. Best report. The new...
A Few More Thoughts About Assignments of Benefits
Jun 20 2018 // I last wrote about assignments of benefits (AOB) back in January. You didn’t read that one? I’m shocked, but I’ll be ok. Here’s the link to my thoughts about assignments of benefits. You don’t...
Chubb Insists No Insurance for Weinstein, Who Wants Jury to Settle Coverage Issues
Jun 19 2018 // Hollywood movie mogul Harvey Weinstein is asking that a jury decide whether his insurer must defend him against 14 lawsuits accusing him of sexually harassing and assaulting women over several decades. Weinstein contends...
Health Insurers Propose Lower Premiums for Minnesota Individual Market
Jun 19 2018 // Health insurers in Minnesota’s individual market are proposing mostly decreased premium rates for 2019, with average proposed decreases ranging from 3 percent to more than 12 percent for consumers, according to data...
Insurer Liberty Faces Scrutiny from South Africa Regulator over Cyber Attack
Jun 19 2018 // Insurer Liberty Holdings faced questions from South Africa’s Information Regulator on Monday, a day after the company said it had become the victim of a cyber attack. The regulator said it was concerned about the...
Young Consumers Willing to Let Insurers Spy on Digital Data – If It Cuts Premiums
Jun 19 2018 // The majority of people between 18 and 34 would be willing to let insurance companies dig through their digital data from social media to health devices if it meant lowering their premiums, a survey shows. In the younger...
Digital Insurance Agency EverQuote Launches IPO
Jun 18 2018 // Cambridge, Mass.-based online insurance agency EverQuote Inc. has commenced an initial public offering it hopes will produce $43.2 million in net proceeds for the company. EverQuote is offering 3,125,000 shares of its...
Insurer Must Defend Bill Cosby Defamation Suits, Court Says
Jun 18 2018 // A federal appeals court says an insurance company must pick up Bill Cosby’s tab to fight defamation lawsuits brought by women who accused him of sexual misconduct. But the ruling by the 1st U.S. Circuit Court of...
South Africa Insurer Liberty Refuses to Pay Ransom Demand After Data Breach
Jun 18 2018 // Liberty Holdings Ltd., the South African insurer midway through an overhaul to improve profit, said it refused a ransom demand after hackers breached its information-technology infrastructure and accessed some emails. The...
Rising Homeowners Losses Hurt P/C Insurers in 2017: Fitch
Jun 18 2018 // Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal automobile insurance contributed...
3 Reasons Your Clients Need to Buy Personal Umbrella
Jun 18 2018 // There are at least three reasons for an individual to buy a personal umbrella policy. To begin with, the primary policies otherwise available generally do not provide liability limits commensurate with the exposure such...
Report Says Record Number of Data Breach Notices Filed in New York in 2017
Jun 18 2018 // The New York Attorney General’s Office (NYAG) this year released a report outlining a record number of data breach notices filed with the office in 2017 – the highest since NYAG started receiving data breach...
New Jersey Reminds Residents, Insurance Companies to Prepare for Hurricane Season
Jun 18 2018 // The New Jersey Department of Banking and Insurance is urging the insurance and banking companies it regulates, as well as New Jersey residents, to prepare now for hurricane season, which officially began June 1. All Garden...
I.I.I. on How Insurance Boosts Economy, Communities and Innovation
Jun 18 2018 // While consumers understand insurance as protection against financial loss, the industry’s contribution to the economy goes much further. A white paper from the industry’s Insurance Information Institute argues...
Autonomous Cars to Bring Shift But Not Big Decline in Insurance: Report
Jun 15 2018 // It turns out robots need insurance too. As driverless vehicles reduce car ownership in coming years, insurers may not face the Armageddon that had been predicted, new research shows. “We do not expect revenues for...
