Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
French Reinsurer SCOR Spurns $9.6B Acquisition Offer from Insurer Covea
Sep 4 2018 // French reinsurer SCOR SE spurned an 8.3-billion-euro ($9.6 billion) unsolicited takeover offer from its biggest shareholder, Covea, which said it’s still interested in pursuing a deal. SCOR shares climbed the most in...
California’s 1st Cannabis Insurer Expands Coverage
Sep 3 2018 // California Insurance Commissioner Dave Jones approved a filing from Golden Bear Insurance Co. amending its California Cannabis program product to lower rates, expand coverage options, and expand the classes of business...
15 Emerging Risks Worth Watching That Are Not Cyber
Sep 3 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...
Insurer Downgrades Jumped in 2018 But Were Still Outnumbered by Upgrades: A.M. Best
Sep 3 2018 // Catastrophic weather events in 2017 helped spur an increase in rating downgrades for the U.S. property/casualty (P/C) industry during the first half of 2018, according to an A.M. Best report. But the report also notes that...
As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.
Sep 3 2018 // Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study...
Report: Missouri Medical Professional Liability Insurers Saw Slight Profit in 2017
Sep 3 2018 // In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net...
State Farm Mutual Automobile Insurance Company Announces New York Rate Cut
Aug 31 2018 // State Farm Mutual Automobile Insurance Company has announced it will cut its rates in New York. As a result, its overall personal auto rate will drop by 3.4%. The total state-wide expected impact for State Farm Mutual by...
Church Mutual Launches New Online Insurer, CM Select
Aug 30 2018 // Church Mutual Insurance Co., based in Merrill, Wisconsin, has launched CM Select Insurance Co., which offers online access to products and serves created specifically for smaller churches and other religious...
3 New Insurers OK’d to Do Business in Arkansas
Aug 30 2018 // Arkansas Insurance Commissioner Allen Kerr has approved three new insurance companies to conduct insurance business in that state. Authority was granted to West Bend Mutual Insurance Co. (WBM) of West Bend, Wisconsin, to...
Online Insurer CM Select Targets Small Churches, Religious Organizations
Aug 30 2018 // Church Mutual Insurance Co. has launched CM Select Insurance Co. – an online insurer offering access to an insurance product specifically for smaller churches and other religious organizations. These organizations can...
Insurers Looking to Continue Hiring in Very Competitive Labor Market
Aug 29 2018 // Insurance companies are hoping to hire additional employees over the rest of 2018 in a labor market that remains extremely competitive, according to a study from The Jacobson Group and Aon’s Ward Group. About 63...
A.M. Best: Insurers Equipped to Handle Hurricane Lane Losses
Aug 29 2018 // A.M. Best is expecting Hurricane Lane to be considered more of a flood event than a wind event. As a result, the storm that buffeted Hawaii should bring a potential triggering of the National Flood Insurance...
Agencies Focus on Growing Larger Accounts: Channel Harvest Survey
Aug 29 2018 // Independent agents and brokers are focusing on growing the average size of their commercial lines accounts, according to “Agent Voices 2018,” a report based on a survey conducted earlier this year and...
Insurers Increasingly Seek Legacy Transfers to Shed Long-Tail Liabilities
Aug 29 2018 // Several recent reserve cover deals—including the single-largest reinsurance transaction on record—demonstrate a growing interest on the part of insurers to shed their long-tail liabilities. A sharp uptick in reserve...
NCCI Proposes 13% Rate Decrease for Florida Workers Comp, Notes Future Challenges
Aug 29 2018 // Florida businesses could see another significant rate decrease in workers’ compensation rates next year if Florida regulators approve the latest filing from the National Council on Compensation Insurance (NCCI). But...
1-in-5 Consumers Say They’d Use Amazon or Google for Home Insurance
Aug 28 2018 // One-in-five consumers say they would use Amazon or Google for their home insurance, a J.D. Power survey released today shows. And most of those who took the survey (80 percent) already have insurance with a large national...
Keystone Insurers Group Adds 2 More Wisconsin Agencies
Aug 28 2018 // Keystone Insurers Group has added Family Insurance Center of Seymour, Wisconsin, and the Walker Agency Inc., with locations in Berlin, Montello and Westfield, Wisconsin, to its growing list of partners in that...
Washington City, Insurer Settle with Utility over Fire Started by Police
Aug 27 2018 // A city in eastern Washington state has agreed to a settlement with a power company after a large fire started last year during a gun-shooting training exercise for local police officers. The Yakima Herald-Republic reports...
California’s 1st Cannabis Insurer Expands Coverage
Aug 27 2018 // California Insurance Commissioner Dave Jones approved a filing from Golden Bear Insurance Co. amending its California Cannabis program product to lower rates, expand coverage options, and expand the classes of business...
Big Insurers Still Taking a Pass on Marijuana Profits
Aug 24 2018 // Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are...
