Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
California Commissioner Lowers Workers’ Comp Pure Premium
May 22 2017 // California Insurance Commissioner Dave Jones issued a revised advisory pure premium rate, lowering the benchmark to $2.02 per $100 of payroll for workers’ compensation insurance effective July 1. This is 16.5 percent...
California’s Comp Insurers Had 5.1% More in Direct Written Premium in 2016
May 22 2017 // California workers’ compensation insurers wrote $12.96 billion in direct written premium last year, an increase of $628 million, or 5.1 percent, from the prior year, according to new data from the National...
Private Equity Firm Carlyle Sues Insurers Over Oil Losses
May 22 2017 // Julia Payne U.S. private equity firm Carlyle Group is suing a group of its insurers over $400 million worth of oil it claims it lost when Morocco’s sole refinery went bankrupt two years ago, court documents...
Update: Insurers Sound Alarm Over Liability Law Restatement; Vote Delayed
May 22 2017 // Liability insurers, their lawyers and their regulators are holding their collective breath that a scheduled vote this week on a proposed restatement of law regarding liability insurance will not happen. If approved, the...
Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses
May 19 2017 // Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,”...
UK Insurer Ageas Uses Artificial Intelligence to Manage Motor Claims
May 19 2017 // UK insurer Ageas has begun to use artificial intelligence (AI) technology to help manage its motor claims in partnership with AI specialist Tractable. In what it describes as “a first” for the UK market, Ageas...
Democratic Attorneys General Move to Defend Obamacare Insurer Subsidies
May 19 2017 // More than a dozen Democratic attorneys general on Thursday sought to intervene to defend a key part of the Obamacare healthcare law — subsidy payments to insurance companies — which is under threat in a court...
Re/Insurers, Other Global Businesses Have Stake in New WHO Leader
May 19 2017 // The World Health Organization’s 194 member-states will vote for a new director-general next week, choosing a doctor to lead the planet’s top technical agency on all matters health. With a $4 billion annual...
Global Insurers Face High Compliance Costs with New Accounting Rules
May 18 2017 // Insurers in over 100 countries face a “once in a lifetime” accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on...
Texas ‘Hailstorm’ Litigation Bill Headed to Governor’s Desk
May 17 2017 // Legislation backed by the insurance industry and some Texas business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events has passed the state...
Fitch Urges Insurer Caution as Cyber Insurance Demand Grows
May 17 2017 // The recent ransomware attacks in more than 150 countries are likely to increase demand for related insurance protection as they reveal the widening scope of corporations’ cyber risk exposures. But Fitch Ratings says...
2017 Super Regional Property/Casualty Insurers Revealed
May 16 2017 // Once again, Demotech Inc., the official research partner of Insurance Journal, identified the nation’s Super Regional Property/Casualty Insurers — P/C insurers writing multiple lines of insurance in multiple...
Many Non-U.S. Firms May Be Uninsured for Recent Ransomware Attack
May 15 2017 // Many companies outside the United States may not have cover for a recent computer-system attack, leaving them potentially with millions of dollars of losses because there has been relatively little take-up of cyber...
Survey: Agents Suggest How Carrier Partners Can Move from ‘Good’ to ‘Great’
May 15 2017 // You might expect to see high levels of satisfaction between an independent agency and its top carrier, but that isn’t always the case. Peeling back the layers usually reveals fertile ground for improvement and shows...
Ironshore CEO Kelley: Goal Under Liberty Mutual Is to Become Premier Specialty P/C Insurer
May 15 2017 // Longtime Ironshore Inc. CEO Kevin Kelley said his company has a genuine shot at becoming a “premier” specialty property/casualty insurance company, both domestically and abroad, now that Liberty Mutual...
As Auto Insurance Sales Stagnate, Carriers Turn to Agents: J.D. Power
May 15 2017 // Amid a second straight year of stagnant auto insurance shopping activity and modest rate increases, auto insurance companies have grown increasingly reliant on great customer service, personalized advice and strong agents...
Top 10 Technical Fouls to Avoid When Filing Environmental Claims
May 15 2017 // Benzinger is chief broking officer and managing director at Aon Risk Solutions Environmental Practice. Claims are where the rubber meets the road for an insurance policy. For some lines of coverage, like workers’...
Producer Compliance in California: The Top Three Regulatory Danger Zones
May 15 2017 // Like Big Brother, California’s Department of Insurance is watching you. Okay, perhaps not literally — and certainly not all of you, but the department definitely has its antennae up when it comes to the...
Illinois’ Cost per Workers’ Comp Claim Trending Down
May 15 2017 // The average total cost of a workers’ compensation claim in Illinois has dropped by 6.4 percent since 2010, but the state still has relatively high costs per claim, according to a report by the Workers Compensation...
Insurance Industry-Backed Storm Damage Bill Passes Texas House
May 15 2017 // The passage in the Texas House of a bill limiting liability for property insurance companies sued by policyholders following weather related events has given the insurance industry, which lobbied strongly for the bill,...
