Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Oklahoma Licensed 26 Captive Insurers Last Year
Jan 13 2016 // Oklahoma’s captive insurance industry grew in 2015 with the licensing of 26 captive insurers, the Oklahoma Insurance Department announced. With the addition of the 26 new captives, Oklahoma currently regulates 73...
Brit Ltd. Renews and Expands its Bermuda Special Purpose Insurer, Versutus
Jan 13 2016 // Brit Ltd. announce the renewal and expansion of the collateralized reinsurance capacity provided by the Bermuda domiciled special purpose insurer Versutus Ltd., in support of Brit’s property treaty portfolio for...
Update: Dutch Insurer Aegon Plans $432M Share Buy-Back, to Cut U.S. Costs
Jan 13 2016 // Aegon NV jumped the most in almost six years after saying it plans to buy back 400 million euros ($432 million) of shares and cut costs to improve its return on equity. The Dutch owner of insurer Transamerica Corp....
Report: Mississippi Insurers Not Overcharging Coastal Residents
Jan 12 2016 // Results of Mississippi’s Property Insurance Clarity Act Data Call are in and they confirm what insurance experts in the state say they already knew: insurers are not overcharging coastal residents in Mississippi. In...
Insurers to Pay Port in Washington Soil Contamination Suit
Jan 12 2016 // A Cowlitz County, Wash. judge has ordered insurers to pay the Port of Longview $2.45 million in attorney fees in an ongoing lawsuit over soil contamination. The Daily News reported that the order is the latest development...
Vermont Licensed 33 New Captive Insurers in 2015
Jan 12 2016 // Vermont licensed 33 new captive insurance companies in 2015, according to data released by the Vermont Department of Financial Regulation. 2015’s new licensees bring Vermont’s overall total licenses to 1,062...
Insurance Execs’ Midlife Crisis Cure: Four AIG, ACE Veterans Join Startup P2P Insurer Lemonade
Jan 12 2016 // An instech startup looking to disrupt the property/casualty insurance industry with a new business model has turned to four seasoned insurance executives from traditional carriers AIG and ACE Insurance to round out its...
15 State AGs Join Federal Antitrust Probe of Giant Health Insurers’ Mergers: Reuters
Jan 12 2016 // About 15 state attorneys general have joined the Justice Department’s probe of two big insurance mergers, according to people familiar with the matter, increasing the scrutiny on proposed deals that would reduce the...
Ohio High Court: Consumer Laws Don’t Apply to Insurer Repair Estimates
Jan 11 2016 // The Ohio Supreme Court has ruled that laws protecting consumers from deceptive practices don’t apply to insurance company repair estimates. In Dillon v. Farmers Ins. Of Columbus, Inc., the Court voted 5-2 to overturn...
New Look in Franchise Liability
Jan 11 2016 // Businesses known for their uniforms are worried about lawyers in business suits in the wake of a change in the nation’s labor laws affecting their liability for employment practices. The change could unravel the...
Entrepreneurs Raise $13 Million to ‘Reinvent’ U.S. P/C Insurance with Peer-to-Peer Insurer Lemonade
Jan 11 2016 // 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...
Florida Lawmakers to Industry: We Want YOU to Join State Flood Insurance Market
Jan 11 2016 // We think the time is right for you all to explore the [Florida] flood insurance market.” That was the message Florida Senator Jeff Brandes gave insurance industry attendees at the first ever Florida Flood Insurance...
New Jersey Announces Approval of New Captive Insurer
Jan 7 2016 // The New Jersey Department of Banking and Insurance has approved a captive insurer formed by the Deborah Heart and Lung Center of Browns Mills, New Jersey. The Department’s Acting Commissioner Richard J. Badolato...
AIG CEO Hancock Plans Public Webcast on His Vision, ‘Proactive Plan’ for Insurer
Jan 7 2016 // American International Group Inc., the insurer that has rebuffed activist investor Carl Icahn’s push to divide into three companies, set a Jan. 26 presentation to outline Chief Executive Officer Peter Hancock’s...
Mass. Health Insurers Partner With Police to Help Heroin Addicts
Jan 6 2016 // Health insurers in Massachusetts are pitching in to help the Gloucester Police Department with their well-known program to get heroin addicts into treatment. Under a pilot program launched Monday, members of the...
Insurers & Banks Could Pull Jobs from U.K. in Event of ‘Brexit’: JPMorgan
Jan 6 2016 // JPMorgan Chase & Co. warned financial-services firms from banks to insurers could pull jobs out of the U.K. in the event of Britain voting to leave the European Union. Financial services would feel the “negative...
Chinese Insurers Form Fund to Finance Overseas Energy, Infrastructure Projects
Jan 5 2016 // More than 40 Chinese insurance companies and asset managers have jointly started an investment firm, raising 40 billion yuan ($6 billion) for a first fund to finance energy and infrastructure projects overseas,...
Flood Claims to Hit U.K. Insurers’ 2015 Earnings: A.M. Best
Jan 5 2016 // Flooding in the final month of 2015 will put pressure on the earnings of U.K. property insurers, according to a briefing published by A.M. Best. Initial estimates of combined insured losses from Storm Desmond, which hit...
New York Insurance Association Elects 2016 Officers, Board of Directors
Jan 4 2016 // The New York Insurance Association (NYIA) announced that Steven J. Coffey, president and chief executive officer of Broome Co-operative Insurance Company (BCIC), has been elected to serve as the association’s chair...
6 Forecasts for P/C Insurance in 2016
Jan 4 2016 // Some, but not all, experts see an improving U.S. economy in 2016 helping to boost the property/casualty (P/C) insurance sector. Some of these prognosticators are more optimistic than others. But most also anticipate...
