Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Entrepreneurs Raise $13 Million to ‘Reinvent’ U.S. P/C Insurance with Peer-to-Peer Insurer
Dec 8 2015 // The U.S. property/casualty insurance industry is about to be tested directly by the sharing economy. Two tech entrepreneurs have raised $13 million in initial funding to launch a peer-to-peer online property/casualty...
Cyber Insurance Underwriting Moves from ‘Toddler’ to ‘Teen’ As Insurers Learn from Claims
Dec 8 2015 // Given the fact that the insurance industry paid out more than $400 million in highly publicized cyber liability insurance claims in 2014 alone, one might think that insurers would be shying away from the line. But one...
Insurers Braced for Claims Surge as 10-Year High Floods Hit India
Dec 8 2015 // Insurers from Lombard General Insurance Co. to American International Group Inc. are bracing for a surge in Indian claims to a 10-year high after unprecedented floods last week ravaged Chennai, the city home to factories...
Insurance Lies Clients Believe – And Pass on to Others
Dec 7 2015 // Myths, legends and lies are hard to dispel and correct, especially when doing so appears to financially harm the teller or believer. If the myth is true, the client (the teller/believer) does not need to purchase the...
Health Insurers to Rebate More Than $2M to Delaware Consumers
Dec 7 2015 // Delaware Insurance Commissioner Karen Weldin Stewart announced that insurers will issue more than $2 million in rebates to 14,399 health insurance policyholders in Delaware as a result of the Affordable Care Act’s...
British Insurers Adjust Risk Models after Costly Repeat of 100-Year Floods
Dec 7 2015 // British insurers could have to pay out up to £250 million ($377 million) in claims to owners of homes and businesses, industry specialists said on Monday, after the northwest of England suffered once-in-a-century floods...
P/C Insurers Told ‘Fresh Approach’ Needed to Face Coming Disruption
Dec 7 2015 // U.S. property/casualty insurers should expect disruptive changes in a number of areas in 2016, including technology, pricing, customer demand, and “heightened regulatory creep,” consultant Ernst & Young...
UK Insurers Ready to Aid Recovery from Storm Desmond ABI Assures Policyholders
Dec 7 2015 // The Association of British Insurers (ABI) has issued a bulletin reassuring homeowners and businesses hit by Storm Desmond that insurers “are doing everything possible to help them recover.” The ABI listed some...
Group of UK Insurers Win BOE Approval for Solvency II Capital Requirements
Dec 7 2015 // Prudential Plc, Aviva Plc and Legal & General Group Plc are among large U.K. insurers to win Bank of England approval of the models they use to calculate capital requirements under the European Union law known as...
Growth in Cyber Insurance Sustainable if Underwriting, Pricing Are Right
Dec 7 2015 // Given the fact that the insurance industry paid out more than $400 million in highly publicized cyber liability insurance claims in 2014 alone, one might think that insurers would be shying away from the line. But one...
Louisiana Citizens Property Insurance to Shed More Policies in 2016
Dec 7 2015 // Louisiana’s property insurer of last resort expects to shift about 10,000 policies to private insurance companies for 2016, a move that will reduce premiums by roughly $20 million. Interim Chief Executive Officer...
Minnesota Bars Use of Price Optimization in Insurance Rates
Dec 7 2015 // Minnesota Commerce Commissioner Mike Rothman has ordered insurers doing business in Minnesota to stop the practice of price optimization in setting rates for auto and homeowners insurance. Rothman said the anti-consumer...
Insurance Company Profitability
Dec 7 2015 // The past 10 years has been incredibly profitable for insurance companies. Net income for the industry – that is net, not pretax – has equaled $448 billion; that’s almost half a trillion dollars. It is not chump...
Study Says Telematics Use Changing Drivers’ Behavior
Dec 7 2015 // Telematics devices offered by auto insurers appear to working to change the behavior of drivers. More than half (56 percent) of the 1,135 drivers participating in an Insurance Research Council (IRC) public opinion survey...
2015 State Specialist P/C Insurers Revealed
Dec 7 2015 // The Demotech Company Classification System categorizes insurers into one of 11 categories based on an analysis of data reported by companies to the National Association of Insurance Commissioners (NAIC). The 11 categories...
Program Business Revenue Doubles in 5 Years
Dec 7 2015 // Data Management, Technology Present Future Challenges and Opportunities for Sector The pace of growth in the program market may be slowing but it is in no way standing still. According to the most recent study from the...
Maryland Issues Bulletin on Commercial Policy Termination Notices
Dec 7 2015 // Property/casualty insurers writing commercial policies in Maryland are no longer required to file the cancellation or nonrewal notices they send out to insureds for approval, the Maryland Insurance Administration (MIA)...
New York Says Robust Cybersecurity Regs Needed for Insurers
Dec 7 2015 // New York regulators are considering a host of cybersecurity requirements for banks and insurers and urged other state and federal authorities to collaborate on establishing a framework of defenses for the financial...
Highway Bill Restores Crop Insurance Funding Cut in Budget Deal
Dec 4 2015 // The $305 billion highway bill that was agreed upon by the House and Senate and is on its way to President Obama’s desk has a little something for everyone, including farmers and crop insurers. The five-year measure,...
ECB Decision to Extend Quantitative Easing Hits European Insurers’ Shares
Dec 4 2015 // Shares of European insurers fell after the European Central Bank decided to extend its quantitative easing program until at least March 2017 and broaden the range of assets purchased. The decision is...
