Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Breaking the Silence: Cyber Physical Cat Models Emerging
Sep 4 2017 // A frightened truck driver dodging a barrage of bullets fired from the assault rifles of a drug-smuggling criminal gang doesn’t seem like the obvious description of the final stages of a cyber attack. But the...
P/C Insurers Lost $5.1B on Underwriting in First Half of 2017
Sep 4 2017 // The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the same period a year...
2 Nebraska Contractors Have Sued Insurers More than 100 Times
Sep 4 2017 // Two Omaha contractors are expanding a legal strategy they say forces insurance companies to pay for storm damage, but industry officials say the practice leads to exaggerated claims and may drive away insurers. Home repair...
Illinois Governor Vetoes Workers’ Comp Bills Opposed by Insurers
Sep 4 2017 // Illinois Gov. Bruce Rauner has vetoed two workers’ compensation reform bills that were strongly opposed by the insurance industry. Rauner in August vetoed HB 2622 and HB2525, two bills that would have had profound...
Florida Domestic Insurer Sawgrass Mutual to ‘Wind Down’ Operations
Sep 4 2017 // Just after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company revealed it was placed under administrative supervision by the Florida Office of Insurance...
25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew
Sep 4 2017 // Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew...
Texas Workers’ Comp Division Releases Disaster Guidelines for Insurers
Aug 31 2017 // The Texas Department of Insurance – Division of Workers’ Compensation has issued guidelines for insurers concerning workers’ compensation claims filed by insureds in counties named in Gov. Greg Abbott’s...
Update: Claims Teams Begin Handling Onslaught of Harvey Claims
Aug 31 2017 // Hurricane Harvey has set a U.S record, according to the National Weather Service, dumping 51.88 inches of rain in parts of Texas. As the tropical storm moves over southern Louisiana, claims catastrophe teams are moving in...
Tallying Massive Costs of Harvey to Victims, Insurers, Taxpayers and Economy
Aug 31 2017 // Hurricane Harvey’s costs to the victims in its path, to U.S. taxpayers, to insurers and to the economy were still being calculated on Wednesday, with few firm estimates available yet. Texas could need more than $125...
Law’s Ambiguity a Source of Mixed Messages Over Texas Cat Claims Statute
Aug 30 2017 // Ambiguity surrounding a Texas law that goes into effect on Sept. 1 has insurance industry representatives and attorneys who represent insurance policyholders sending conflicting messages to insureds who may have suffered...
UK Insurers Face Looming Brexit Deadline to Move Contracts with EU Clients
Aug 30 2017 // Insurers in Britain face crunchtime within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit. While Britain is not due to leave the...
Insurers Deploy Drone Fleets to Speed Harvey Disaster Recovery
Aug 30 2017 // Fleets of commercial drones are primed to hover over the destruction from Tropical Storm Harvey in an unprecedented test of unmanned aircraft’s ability to assess billions of dollars in damage for the insurance...
Banks Seek More Insurance Protection Against Cyber Attacks, Rogue Traders
Aug 30 2017 // Banks are increasingly turning to insurance to protect their capital from “operational risks” like cyber attacks and rogue traders, and insurers say they can help safeguard lenders by providing an extra layer...
S&P: Primary P/C Insurers, Not Reinsurers, to Bear Brunt of Harvey’s Insured Losses
Aug 29 2017 // While it’s too early to accurately quantify the insured losses related to Hurricane Harvey, primary insurance carriers — as opposed to reinsurers — would retain the majority of losses, according to analysts at...
Texas Regulators Offer Guidance to Insurers on Harvey Response
Aug 29 2017 // The Texas Department of Insurance has issued several bulletins offering guidance to insurers related to Hurricane Harvey, which made landfall near Rockport, Texas, late on Aug. 25. The bulletins are in response to the...
P/C Insurers Lost $5.1 Billion on Underwriting in First Half of 2017: A.M. Best
Aug 29 2017 // The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the same period a year...
Insurers Will Easily Swallow Harvey’s Claims but Growing Climate Risk Predicted
Aug 29 2017 // Damages from Hurricane Harvey’s ravaging of Houston and the Texas Gulf Coast are estimated to be well below those from the major storms that hit New Orleans and New York in recent years, insurance executives have...
Lloyd’s Insurers’ Stocks Fall on Possible Claims from Hurricane Harvey
Aug 29 2017 // Lloyd’s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that’s battering Houston, the epicenter of the U.S. oil industry. The storm, which which made landfall...
Harvey’s Insured Losses Hurt Insurers’ Stocks, Could Boost Reinsurers’ Prices
Aug 29 2017 // Hurricane Harvey’s whipsaw of wind and rain across Houston and the Texas Gulf Coast hurt the shares of U.S. property and casualty insurers on Monday as Wall Street analysts estimated insured losses as high as $20...
Typhoon Hato Will Have Limited Financial Impact on Macau Insurers: A.M. Best
Aug 28 2017 // Typhoon Hato will have only a moderate impact on the earnings of rated non-life insurers in Macau, and a limited effect on their financial strength, according to A.M. Best. On Aug. 23, 2017, Typhoon Hato (Category 2 on the...
