Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Startup Auto Insurer Root Raises $51 Million for Further Expansion
Mar 27 2018 // Columbus, Ohio-based auto insurer Root Insurance, which incorporates individual driver behavior data from mobile phone apps in every quote, announced the closing of a $51-million Series C funding round. Investors were led...
Ex-AIG Execs Kick-Off New High Net Worth Insurer Vault in Florida
Mar 27 2018 // It was a no-brainer for former thought-leaders from AIG to set up shop for their new high net worth insurer in the Sunshine State, a state known for beautiful beaches, a growing economy and lots of wealthy individuals. A...
Liquidation Order Issued for Auto Insurer with More Than 42K Policies in Pennsylvania
Mar 23 2018 // A Texas court has issued an order of liquidation for Access Insurance Company, an auto insurer that has 42,785 policies in Pennsylvania. This means Pennsylvanians that currently have auto insurance through Access Insurance...
Bank of England Will Soon Update Insurers, Banks on Latest Brexit Approach
Mar 23 2018 // The Bank of England said it would update banks and insurers next week on its approach to Brexit given that Britain and the European Union have now adopted a transition deal. “The Bank of England welcomes the EU...
China’s Fosun Still Interested in Acquiring Greek Insurer if Winning Bid Collapses
Mar 23 2018 // Fosun International Ltd came up short in its bid to buy National Bank of Greece SA’s insurance unit, but the Chinese conglomerate is still willing to swoop in if the winning bid collapses, albeit at a different price...
Foreign Insurers Benefit as China Tightens Rules on Local Firms
Mar 21 2018 // When Zhang Xixi, a 25-year-old staffer at an online financial company in China’s southern province of Guangdong, decided last year to buy personal insurance for the first time, he was swamped with options. Local...
How Bad Was P/C Insurers’ Underwriting Loss in 2017?
Mar 20 2018 // The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The...
Former Federal Insurance Chief McRaith Joins Blacsktone’s Insurer Investment Team
Mar 20 2018 // Michael McRaith, former director of the U.S. Department of the Treasury’s Federal Insurance Office (FIO), has been named managing director for Blackstone Insurance Solutions (BIS), a newly formed business offering...
UK Insurers, Banks Push Ahead with Relocating HQs – Despite Brexit Transition Deal
Mar 20 2018 // London-based banks and other financial firms won’t put their Brexit moves on hold despite a transition deal between Britain and the European Union as it lacks full legal certainty, industry officials said on...
Title Insurer Amrock’s Lawsuit Backfires to Tune of $706M
Mar 19 2018 // An affiliate of mortgage-lending firm Quicken Loans Inc. filed a fraud suit to back out of a software deal with a housing data-analytics firm, serving the complaint at a trade show in front of the startup’s customers...
California Says Insurers Must Pass Tax Savings on to Policyholders
Mar 19 2018 // Insurance companies writing in California were sent a notice by the California Department of Insurance reminding them that under Proposition 103 their rates must not be excessive, inadequate, or unfairly...
Title Insurer Fidelity National to Buy Competitor Stewart for $1.2 Billion
Mar 19 2018 // Title insurer Fidelity National Financial Inc. has agreed to acquire Stewart Information Services Corp. for approximately $1.2 billion. The consideration will be $50 per share of common stick, paid 50 percent in cash and...
Retiring Commissioner Sevigny Talks State Regulation, Being a Good Leader
Mar 19 2018 // Powered by InsuranceJournal.tv New Hampshire Insurance Commissioner Roger Sevigny is planning to retire this summer after 16 years with the New Hampshire Insurance Department. His current term ends on June 11. Prior to his...
Texas Moves to Liquidate Non-Standard Auto Insurer, Access
Mar 19 2018 // Texas insurance regulators placed into receivership and started the process of liquidating a Texas-domiciled/Atlanta, Georgia-headquartered property/casualty insurance company that the insurance department says is...
Credit Insurers Stopped Backing Toys ‘R’ Us a Year Ago
Mar 19 2018 // When Toys ‘R’ Us secured a $3.1 billion bankruptcy loan in September, toy makers were reassured they would be paid for goods delivered to the company as it tried to emerge from Chapter 11. Now those payments...
Buyers Aren’t Happy With Their Cyber Insurance: J.D. Power
Mar 19 2018 // On any given day, it is hard not to read an article or report on some type of cyber topic. Cyber insurance is one of the key concerns within the insurance industry today and possibly one of the most misunderstood. In late...
Agent-Inspired Insurtechs ‘Self-Disrupt’ Small Commercial Lines
Mar 19 2018 // Insurance industry technology is experiencing a revolution. While insurance carriers and venture capital firms have been behind much of today’s insurtech innovation, insurance agents and brokers have also jumped into...
N.J. Doctor Charged with Stealing More Than $500K from Insurance Companies in Fraud Scheme
Mar 19 2018 // A Passaic County, N.J., pain management doctor has been charged with first-degree conspiracy and money laundering for allegedly submitting more than $4.4 million in fraudulent bills for service to insurance companies that...
New Jersey’s Selective Insurance Company Makes Several Officer Appointments
Mar 16 2018 // Selective Insurance Company of America, a Branchville, N.J.-headquartered subsidiary of Selective Insurance Group Inc., has announced several officer appointments. Charles Musilli has been appointed to executive vice...
Luxembourg Aims to Attract More Insurers Seeking Post-Brexit Headquarters
Mar 16 2018 // Luxembourg is seeking to persuade at least two additional global insurers to make their post-Brexit home there after attracting American International Group Inc. and Sompo International Holdings Ltd., the head of its...
