Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurtech Mobile-Based Auto Insurer Root Expands into Utah
Oct 13 2017 // Root Insurance has expanded its services to drivers in Utah. Root, which is now operating in Illinois, Oklahoma, Indiana, Ohio and Arizona, asserts that drivers can save up to 52 percent by using Root’s data-driven...
Trump Ends Health Insurer Subsidy; Allows Association Health Plans, Expense Accounts
Oct 12 2017 // President Donald Trump’s administration took its most drastic step yet to roll back the Affordable Care Act, cutting off a subsidy to insurers hours after issuing an executive order designed to draw people away from...
Insurers, Tech Firms ‘Must Work Together’ to Tackle Emerging Technology Risks
Oct 12 2017 // The World Economic Forum is bringing insurers, tech firms and governments together to find ways to tackle risks from new technology such as drones and driverless cars, it said on Thursday. Tech firms have moved fast to...
Saudi Arabia Develops Stronger Capital Rules for Insurers: Sources
Oct 12 2017 // Saudi Arabia’s central bank is preparing tougher rules for insurance companies as part of a drive to create a smaller number of stronger market players operating in the country, two people with direct knowledge of...
Oklahoma County’s Insurer to Pay $750K in Inmate Death Settlement
Oct 11 2017 // A settlement has been reached in a federal lawsuit over the 2013 death of a diabetic man who was denied medical treatment at a county jail in Oklahoma, according to court records. McClain County commissioners will pay...
What Insurance Companies Need to Know About Part 500 Cybersecurity Compliance
Oct 10 2017 // If there were any remaining doubts about the vulnerability of our online systems, they were dispelled in September when giant credit reporting company Equifax revealed it was breached in July by cyber criminals,...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
Why Mandating Cyber Reporting, Basic Coverage Makes Sense: Cyence Exec
Oct 9 2017 // Powered by InsuranceJournal.tv Matt Honea, cyber manager at Cyence, a San Mateo, Calif.-based cyber risk modeler, thinks a great way to get companies to report cyber attacks is to make them do it. Honea, who believes...
After Hurricane, Bond Insurer Drops Lawsuit Against Puerto Rico
Oct 8 2017 // Puerto Rico bond insurer Assured Guaranty Ltd. said late on Friday it voluntarily withdrew a complaint that challenged the legality of the island’s fiscal turnaround plan, citing the devastating impact of Hurricane...
A.M. Best Revises Outlook to Positive for Insurance Company of the West
Oct 6 2017 // A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Insurance Company of the West and its...
Head of Texas’ Harvey Recovery Effort Says Agents Need to ‘Step Up’ on Damage Claims
Oct 6 2017 // The insurance industry in Texas is not happy with the state’s so-called Hurricane Harvey recovery czar. Texas A&M University Chancellor John Sharp, who was named by Gov. Greg Abbott to lead the Commission to...
Buffett’s Berkshire to Buy 9% Stake in Italian Insurer Cattolica
Oct 6 2017 // Warren Buffett is expanding his wager on Italy. The billionaire’s Berkshire Hathaway Inc. said Thursday it agreed to buy about 9 percent of Italian insurer Societa Cattolica di Assicurazioni Scrl from Banca Popolare...
P/C Insurer Software Provider Guidewire to Acquire Data Science Firm Cyence
Oct 6 2017 // Guidewire Software Inc., a provider of core operations software to property/casualty insurers, has agreed to acquire Cyence, a data science and risk analytics software company. Guidewire will pay approximately $275 million...
Insurers to Crack Down on Illegal Fishing by Denying Coverage
Oct 6 2017 // A coalition of insurance firms agreed on Friday to crack down on pirate fishing by banning coverage for trawlers whose illegal catches are worth at least $10 billion a year. Firms would deny insurance for vessels on a...
Crowdsourced Insurer Rater Clearsurance Raises $4 Million
Oct 6 2017 // Clearsurance, a crowdsourced review, rating and educational platform for the insurance industry, has raised $4 million in a Series A funding round. The round was led by its co-founder, Michael Crowe, and includes Davis...
Penn. Supreme Court Says Malice Not Required to Win Bad Faith Claims
Oct 5 2017 // The Pennsylvania Supreme Court unanimously affirmed a decision by the state’s Superior Court that although ill-will or malice is one factor that can be used to assess insurer bad faith, it is not a prerequisite for...
Dutch Insurers & Banks Warned to Account for Risks of Climate Change
Oct 5 2017 // Banks, insurers, and other financial institutions must do more to take into account the risks posed by climate change to their business, a Dutch Central Bank study said. As global warming increases the risk of extreme...
Get Very Used to Drone Usage in the Insurance Industry
Oct 4 2017 // One major insurance carrier already has a program underway to train claims adjusters to visit accident sites and fly drones to gather data. American Family Insurance started working on developing a drone program around...
If You Don’t Tell Your Story, Someone Else Will
Oct 4 2017 // I have to be a little transparent today. I’ve struggled with writing. I normally have this post written by mid day on Monday, read over it again on Tuesday, and uploaded to the site for publishing first thing...
Why the Insurance Industry Needs a Toothbrush and Other Notes from Record-Breaking InsureTech Connect Conference
Oct 4 2017 // Insurance company employees wondering where all their bosses are this week should not be worried. It’s a good bet the executives are safe in Las Vegas at the second annual InsureTech Connect Conference. More than...
