Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
MAPFRE USA to Exit 5, Focus on 11 States; Sell New York and Life Units in Reorganization
Dec 5 2017 // Insurer MAPFRE USA, which now writes in 19 states, is narrowing its focus by concentrating on 11 key states, exiting five states including selling its New York subsidiary, and selling its life insurance unit. MAPFRE USA...
Insurers Still Assessing Damage to Historic Indiana Fieldhouse
Dec 4 2017 // School officials and an insurance company are still assessing the severe storm damage that one of Indiana’s historic high school gymnasiums sustained nearly a month ago. Muncie Community Schools superintendent Steve...
UK Auto Insurer Direct Line Offers Tesla Drivers 5% Discount if They Use ‘Auto-Pilot’
Dec 4 2017 // Britain’s largest motor insurer Direct Line is offering Tesla Inc drivers in Britain a 5-percent discount for switching on the car’s autopilot system, seeking to encourage use of a system it hopes will cut down...
Note to the Insurance Industry: Marijuana Is a Thing
Dec 4 2017 // It’s high time the insurance industry embraces marijuana. That’s because pot has entered the mainstream. To date, 29 states and the District of Columbia have legalized medical marijuana, eight states (plus...
The Competitive Advantage: Who Needs Insurance?
Dec 4 2017 // Who needs insurance? Not the perfect risk, other than for contractual and legal reasons. The perfect risk has absolutely no chance, not even remotely, of incurring a loss. If an account has almost no probability of...
‘Substantial’ Rate Hikes Expected As Re/Insurers’ Results Take a Hit: Swiss Re
Dec 4 2017 // Non-life re/insurers’ full-year underwriting results are likely to be severely affected by the second half of the year’s three hurricanes and earthquakes in Mexico–which will lead to rate hardening for...
Program Business Sector Revenue Jumps 11.7% from 2014 to 2016: TMPAA
Dec 4 2017 // The financial performance of commercial property/casualty insurance program administrators continued to outpace the performance of the overall property/casualty insurance markets, according to a recent study. Program...
California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says
Dec 4 2017 // No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds...
Workers’ Comp Carrier Guarantee Insurance Declared Insolvent by Florida Regulators
Dec 4 2017 // Florida insurance regulators have placed workers’ compensation carrier Guarantee Insurance Co. in receivership. According to documents from the Florida Office of Insurance Regulation (OIR), the company was materially...
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...
