Insurers News

A.M. Best: Eurozone Insurers Remain Robust Despite Instability in Greece

The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although (re)insurers operating in the economic bloc are well positioned to withstand a continued period of volatility, according to a briefing published by A.M. …

Low Interest Rates Challenge European Insurers: A.M. Best Report

The low interest rate environment represents a significant challenge for insurers, according to a report published by A.M. Best. “European insurers are struggling to generate investment income as the majority of their invested assets are held in high-quality fixed-income securities,” …

CNA Hardy Appoints Clements as Distribution Director, Europe

CNA Hardy has appointed Andy Clements as distribution director, Europe. He will report to Elliot Miller, head of UK regions and Luc Mal√Ętre, VP field operations. Clements will be responsible for building effective and long lasting strategic relationships with broker …

Hiscox Appoints Worth as Interim CFO

Bermuda-based Hiscox announced that John Worth will join the company on June 22, and, subject to regulatory approval, will be appointed interim chief financial officer with effect from September 1, 2015. Worth’s appointment is designed to provide continuity in oversight …

California Commissioner Tells Insurers to Cease Price Optimization

California Insurance Commissioner Dave Jones on Wednesday issued a notice to property/casualty insurers doing business in California advising them that so-called “price optimization” in rate making is unfairly discriminatory and violates the law. Price optimization is the practice of setting …

Most Popular Insurance Journal Midwest Stories of 2014

The most popular InsuranceJournal.com news stories in the Midwest ranged from groundbreaking lawsuits to research into making people safer from storms. With an understanding that stories appearing later in the year have less time to rise to the top of …

Missouri Seeking Administrator/Insurer for Workers’ Comp Residual Market

The Missouri Department of Insurance, Financial Institutions & Professional Registration is seeking to contract with one or more entities to administer and provide workers’ compensation insurance for the state’s Workers’ Compensation Alternative Residual Market Plan (ARM Plan). All bidders must …

RMIIA: Colorado Hailstorm Caused $213M in Insured Losses

Insurers say a hailstorm last month carried a hefty price tag. Rocky Mountain Insurance Information Association spokeswoman Carole Walker said Monday the Sept. 29 storm pounded thousands of vehicles and roofs, causing an estimated $213 million in insured losses. The …

Competition Softens Rate Hikes for Architects, Engineers in 2014: Survey

Although most insurers providing professional liability insurance for architects and engineers sought to raise rates last year, the size of the increases generally failed to meet their expectations. Nevertheless, nearly all leading insurers offering this specialty coverage did see premium …

Report Released on Insurer Procurement Diversity in California

A survey of supplier diversity in the insurance industry for California’s largest 206 insurance companies was issued on Wednesday. The results, which are posted on the California Department of Insurance website, shows a majority of insurers are taking steps to …