Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Woods Named UK’s Head of Prudential Regulation, Overseeing Insurers & Banks
Apr 11 2016 // Sam Woods, a former U.K. Treasury official, was appointed as deputy governor for regulation at the Bank of England, replacing Andrew Bailey. Woods — who will continue as the central bank’s executive director of...
California Adjuster, Family and Friends Embezzled $250k from Insurer, CDI Says
Apr 8 2016 // Elizabeth Louise Brown, 48, of Canyon Country, a former claims adjuster with Explorer Insurance, was arrested this week and charged with multiple felonies, including insurance fraud and conspiracy for allegedly embezzling...
Study: Economic Impact of North Carolina Captives Increased by $12.8M in 2015
Apr 8 2016 // The economic impact of North Carolina’s captive insurance company program increased significantly in its second full year of operation, according to a study conducted by the North Carolina Department of...
P/C Price Declines Begin to Slow for North American Buyers: Willis Towers Watson
Apr 8 2016 // The pricing declines enjoyed by most buyers for several renewal cycles are beginning to slow down, raising the likelihood that companies will experience some price increases in various commercial lines of insurance in the...
Judge Calls FSOC Review of MetLife ‘Fatally Flawed;’ Government Vows Appeal
Apr 8 2016 // The U.S. government panel that decided MetLife Inc. was too big to fail erred in not analyzing the insurer’s vulnerability to financial distress, according to the federal judge who rescinded that designation last...
U.S. Storms in March Will Cost Insurers $2 Billion: Aon Benfield’s Cat Report
Apr 7 2016 // Insurers face a $2.0 billion bill following seven severe storm events across multiple states in March, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Overall economic losses...
Negative Outlook for Energy Insurers May Force Sector Exit: Willis Towers Watson
Apr 7 2016 // Energy insurers continue to feel the pressure caused by over-supply of capital and falling demand from buyers, which may lead them to exit or scale back their participation in the energy sector, according to a report...
Fintech Revolution May Threaten 250,000 Jobs as Europe Insurers Seek Cost Cuts
Apr 7 2016 // The rush is on to replace people with software in Europe’s insurance industry as cost cutting and automation become increasingly crucial to bolstering earnings. Zurich Insurance Group AG is accelerating its cost...
Anbang Insurance to Acquire Allianz’s South Korea Operations
Apr 6 2016 // Anbang Insurance Group Co., which walked away from a bid to acquire Starwood Hotels & Resorts Worldwide Inc. last week, has agreed to buy Allianz SE’s operations in South Korea. The Chinese insurer will purchase...
Commercial Insurers Moderated Rate Cuts Slightly in March: MarketScout
Apr 5 2016 // Commercial insurers eased up slightly on rate cutting in March, according to the MarketScout barometer for the month. After three straight months of price cuts averaging 4 percent, U.S. commercial property, inland marine,...
UK’s Flood Re Launches to Bring Affordable Flood Cover to Homeowners
Apr 4 2016 // The U.K.’s new joint industry and government sponsored reinsurance scheme for flood risk began operating today (April 4). Designed to help provide access to affordable flood insurance cover for households at the...
U.S. Must Lower Corporate Taxes to Keep Insurers: Travelers CEO Schnitzer
Apr 4 2016 // Alan Schnitzer, the new chief executive officer of insurer Travelers Cos., called on U.S. lawmakers to reduce corporate taxes or risk harming business in country. “We continue to see the U.S. corporate income tax...
Watford Re Forms E&S Insurer Watford Specialty, Partnering with Arch
Apr 4 2016 // Watford Re Ltd. has formed a new excess and surplus lines insurer called Watford Specialty Insurance Co. (WSIC), based in Morristown, N.J. WSIC’s lines of business “will be similar to what we’ve been...
Massachusetts Court Rules on ‘Equitable Contribution’ Case
Apr 4 2016 // Massachusetts’ top court ruled in March that a workers’ compensation insurer that has paid benefits has a right to pursue “equitable contribution” from a second insurer that also provided coverage...
Growth in Cyber Coverage Expected as Underwriting Evolves
Apr 4 2016 // With cyber insurance premiums expected to grow from around $2 billion in 2015 to an estimated $20 billion or more by 2025, insurers and reinsurers are continuing to refine underwriting requirements, according to industry...
Prepare for Disruption in High Net Worth Insurance Segment
Apr 4 2016 // ACE’s $28.3 billion purchase of Chubb will create a major disruption in the luxury insurance market. When the integration of the two insurers is complete, the new company is anticipated to control approximately $6...
ISO to Collect Terrorism Insurance Data for Treasury
Apr 4 2016 // The property/casualty insurance data and rating organization ISO will collect and help analyze terrorism data this year for the U.S. Department of the Treasury, the federal agency charged with gauging the effectiveness of...
Uncertainties Outweigh Growth Benefits When P/C Insurers Take On Too Much Cyber Risk, Rating Agency Warns
Apr 4 2016 // If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty...
Nebraska Letter Carrier Awarded $25K after Dog Bite
Apr 3 2016 // A letter carrier has won $25,000 from the owners of a dog that bit him in Grand Island, Neb. The Grand Island Independent reports that a Hall County jury awarded the damages to Seth Gruhn, who’d sued David Hernandez...
EU Lowers Insurers’ Capital Requirements to Spur Infrastructure Investments
Apr 1 2016 // The European Union lowered capital requirements on insurance companies to spur investment in long-term infrastructure projects as policy makers struggle to revive the bloc’s flagging economy. Risk charges for...
