Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer Says Policy Doesn’t Cover Mississippi Building Collapse
Dec 4 2017 // Hudson Specialty Insurance has sued in federal court in Natchez, Miss., to nullify a policy covering a building that collapsed July 23 in the City of McComb, saying coverage was voided after the building owner took money...
North Carolina Insurers Request 18.7% Increase for Homeowners Insurance
Dec 4 2017 // The North Carolina Rate Bureau has filed notice with the N.C. Department of Insurance to request a statewide average increase in homeowners insurance rates of 18.7 percent for 2018, according to Insurance Commissioner Mike...
CVS to Pay $67.5B for Aetna to Create Giant Health Firm with ‘10,000 New Front Doors’
Dec 3 2017 // CVS Health Corp. will buy Aetna Inc. for about $67.5 billion, creating a healthcare giant that will have a hand in everything from insurance to the corner drugstore. CVS will pay $207 a share for Aetna, with $145 a share...
Randall & Quilter Sells R&Q Managing Agency to U.S. MedMal Insurer Coverys
Dec 1 2017 // Randall & Quilter Investment Holdings Ltd. announced it has completed the sale of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of medical professional liability...
Update: Messy Brexit Could Lead to ‘Contract Continuity’ Disruption for Insurers, Banks
Dec 1 2017 // As far as Brexit headaches go, Barclays Plc’s John McFarlane says that while his bank is on top of job relocations, he’s more concerned about rewriting “hundreds of thousands” of...
Express Scripts Not Looking But Open to Deal with an Insurer, Amazon
Dec 1 2017 // Express Scripts Holding Co.’s chief executive said he’s open to a deal with a health insurer or partnering with Amazon.com Inc. CEO Tim Wentworth’s pharmacy benefits company has been battered by departing...
How Payment Policies of Insurers, Government Discourage Opioid Alternatives
Dec 1 2017 // For the drug industry, building a better pain pill is a problem. Pharmaceutical companies have introduced new medicines to treat dependence, reverse overdoses, and deal with opioids’ side effects. But few effective...
Insurers’ Asbestos Payments in 2016 Topped $3 Billion
Nov 30 2017 // While U.S. asbestos-related incurred losses dropped in 2016, property/casualty insurers’ payments for asbestos claims grew 9 percent and hit $3.2 billion for the year, a new A.M. Best report concludes. The $3.2...
Florida’s Hurricane Irma Recovery: The Cost, The Challenges, The Lessons
Nov 30 2017 // The hurricane season is officially over, but it didn’t go by without leaving a major mark on Florida and its insurance industry. Hurricane Irma, a name most in the state won’t soon forget, first hit the Florida...
Another Insurance Fraud Reminder
Nov 29 2017 // Two recent stories in Insurance Journal caught my eye and gave me this topic. Florida Puts Worker’s Comp Carrier Guarantee Insurance In Receivership Florida Keys Insurance Agent Accused of Defrauding Citizens...
Markel Completes Acquisition of UK Building Services Insurer EC Insurance Co.
Nov 29 2017 // Markel International, the specialist insurer, has completed its acquisition of EC Insurance Co. Ltd. (ECIC), having received approval from the Prudential Regulation Authority. Sevenoaks, England-based ECIC provides a wide...
State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy
Nov 28 2017 // Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31,...
Insurer Says Troubled Vermont Town Must Comply with Conditions
Nov 28 2017 // A Vermont organization that serves the state’s municipal governments says the town of Victory must comply with certain conditions of probation or lose its insurance. The Caledonian Record reports that the conditions...
Chubb Forms Partnership with China’s Largest P/C Insurer, PICC
Nov 27 2017 // Giant insurer Chubb Limited has entered into a 10-year strategic cooperation agreement with PICC Property & Casualty Company of China that will provide PICC’s customers and other Chinese-affiliated companies...
UK, Ireland’s Storm Ophelia to Cost Insurers an Estimated $70.1M: PERILS
Nov 27 2017 // Insurance losses for Storm Ophelia, which hit Ireland and the United Kingdom on Oct. 16-17, are estimated at €60 million (US$70.1 million), according to PERILS, the independent Zurich-based organization that provides...
Massachusetts SJC Issues Decision in Auto Insurance Dispute
Nov 27 2017 // The Supreme Judicial Court in Massachusetts (SJC) has answered a question regarding the priority of coverage for two automobile insurance policies covering a single motor vehicle accident. In its ruling, the SJC decided...
Slew of Republican Judicial Appointments Could Bode Well for D&O Insurers
Nov 27 2017 // Directors and officers (D&O) insurance has faced major losses in recent years, due in part, to what some call a significant increase in shareholder securities class action lawsuits. But a slew of new judicial...
Insurer Says Policy Doesn’t Cover Collapse of Mississippi Building
Nov 27 2017 // An insurer says it shouldn’t have to pay for the collapse of a building in a southwest Mississippi city. Hudson Specialty Insurance has sued in federal court in Natchez to nullify its policy, saying the policy was...
As Re/Insurers’ Results Are Hit, ‘Substantial’ Rate Hikes Expected: Swiss Re
Nov 22 2017 // Non-life re/insurers’ full-year underwriting results are likely to be severely impacted from the second half’s three hurricanes and earthquakes in Mexico, which will lead to rate hardening for non-life insurers...
Global Regulators’ Rethinking of Risk Assessment Welcomed by Large Insurers
Nov 21 2017 // Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could take a different...
