Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
First Domestic Run-Off Insurance Carrier Granted License by Rhode Island
Mar 30 2017 // ProTucket Insurance Company has become the first Rhode Island domestic insurer to be formed specifically for providing run-off portfolio transfer solutions. The move has been made possible under new state legislation which...
Lloyd’s to Open EU Insurer in Brussels in Preparation for Brexit
Mar 30 2017 // Lloyd’s, the specialist insurance and reinsurance market, announced it will set up a European insurance company in Brussels in preparation for the UK’s exit from the European Union. The Brussels’...
Citizens Seeks Florida Agents’ Help Fighting Water Claims Abuse
Mar 30 2017 // As the Florida property market fights what has so far been a losing battle against attorneys and unlicensed contractor firms over water loss claims and assignment of benefits (AOB), Citizens Property Insurance Corp.,...
New York DFS Superintendent Directs Insurers to Submit Disaster Plans
Mar 29 2017 // All insurance companies licensed to conduct business in New York State must submit updated disaster response and recovery plans and responses to online questionnaires to the Department of Financial Services (DFS) by June...
Citigroup to Seek Bancassurance Distribution Partners in APAC Region: Source
Mar 28 2017 // Citigroup Inc. will seek bids from global insurers keen to sell general insurance products across the U.S. bank’s Asia-Pacific markets, in a deal that could be worth at least $500 million, a source with knowledge of...
Lloyd’s Shortlists Brussels or Luxembourg as EU HQ: Sources
Mar 28 2017 // Lloyd’s of London, the world’s largest specialty insurance market, will this week pick Brussels or Luxembourg for its planned European Union subsidiary, after Dublin had been an early favorite, sources...
Obamacare Explosion More Like a Slow Burn for Now
Mar 28 2017 // U.S. President Donald Trump said on Friday that Obamacare was “exploding” after Republican lawmakers shelved legislation that would have dismantled the healthcare law. That’s not going to happen this...
Insurers, Victims Sue Saudi Arabia Over Sept. 11 Terrorist Attacks
Mar 27 2017 // Saudi Arabia is facing a renewed $6 billion lawsuit by dozens of insurers seeking to hold it responsible for business and property damage caused by the Sept. 11, 2001 attacks. The lawsuit filed late Thursday in the U.S....
R&Q Acquires Captive Insurer from Fortune 500 Engine Manufacturer
Mar 22 2017 // Randall & Quilter Investment Holdings Ltd. (R&Q) announced the acquisition of ICDC Ltd., a captive insurer of an American Fortune 500 company, for an undisclosed sum. The name of the former parent of the captive...
Thunderstorms Just as Costly to Insurers as Hurricanes: Study
Mar 22 2017 // Risk to U.S. property from thunderstorms is as high as from hurricanes, according to new research finding that for the past decade, severe convective storms have been the largest annual aggregated risk peril to the U.S....
Maryland-Based Chesapeake Employers’ Insurance Company Promotes Adelman
Mar 22 2017 // Chesapeake Employers’ Insurance Company, a Towson, Md.-based provider of workers’ compensation insurance, has promoted Joan Adelman to vice president of legal services. In her new role, Adelman is responsible...
India’s Bank of Baroda Eyes Sale of Insurer, Asset Management Stakes
Mar 22 2017 // Bank of Baroda, India’s third-largest state-run bank by assets, is considering a sale of some of the minority stakes it holds in its insurance and asset-management ventures, according to people familiar with the...
How Medical Liability Insurers’ $30 Billion ‘Cushion’ Is Also Barrier to Profit
Mar 22 2017 // For all the changes in healthcare over the past 10 years, the principal challenges facing medical professional liability (MPL) insurance remain much the same as they have been since its crisis in the mid-2000s: a high...
European Reinsurance Buying Continues to Increase But Demand for Cover Slows: A.M. Best
Mar 21 2017 // The 20 largest European cedants have continued to buy more reinsurance as soft market conditions prevail, although the pace at which retention ratios are falling has been more subdued, according to A.M. Best in a new...
Steamin’ Hot Markets: Cyber, Sharing Economy, Active Shooter, Construction, Mergers and More
Mar 20 2017 // Cyber Sharing Economy, Active Shooter, Construction, Mergers and More Insurance Journal examined industries experiencing changes, challenges, expansions and growth in the past year. For 2017, experts predict the U.S....
How the Industry Can Take the Lead on New Food Safety Risks
Mar 20 2017 // The recently finalized Food Safety Modernization Act (FSMA)-related FDA Regulations on Sanitary Transportation of Human and Animal Food has the potential to significantly affect risk management strategies employed by food...
Pennsylvania Court Approves Liquidation of Two Insurance Companies
Mar 20 2017 // The Commonwealth Court in Pennsylvania has approved petitions to liquidate Penn Treaty Network America Insurance Company and American Network Insurance Company, with policyholder claims set to be paid through the state...
Texas Senate Committee Hears Testimony on Tweaked ‘Hail Litigation’ Bill
Mar 20 2017 // The Texas Senate Business and Commerce Committee on March 9 heard testimony on a revised bill that aims to limit the number of policyholder lawsuits filed against property insurance companies following severe weather...
Texas High Court Finds for Insurer in D&O Coverage Dispute
Mar 20 2017 // The Texas Supreme Court recently ruled in favor of an insurer in a case that hinged on the applicability of an insured-v.-insured exclusion in the carrier’s directors and officers (D&O) liability policy. The...
2016 a Strong Year for North Carolina Captive Insurance Industry
Mar 20 2017 // Growth of North Carolina’s captive insurance company program once again exceeded expectations during the program’s third full year of operation, according to Insurance Commissioner Mike Causey. During 2016, the...
