Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Tennessee Licenses 200th Captive Insurance Company
Mar 9 2020 // The Tennessee Department of Commerce & Insurance (TDCI) has licensed its 200th insurance company, Mattoon Insurance Co., making the state the seventh-largest captive domicile in the U.S., according to a statement from...
One U.S. State May Look at Insurers’ Fossil Fuel Investments and Underwriting to Combat Climate Change
Mar 5 2020 // A Connecticut lawmaker has plans for a bill that not only calls for the state to look at which insurers have fossil fuel investments – a growing trend among government entities as of late – but also which ones are...
New York-Area Financial Firms, Insurers Implement Travel Policies for Coronavirus
Mar 5 2020 // Financial firms in New York City were testing remote-work capabilities, implementing new travel restrictions and canceling or modifying upcoming events as the coronavirus outbreak – already on the finance...
Verisk Expands Insurtech Solution OneXperience into Commercial Insurance
Mar 5 2020 // Insurance data analytics and risk modeling firm Verisk announced the expansion of its new insurtech solution OneXperience into commercial insurance. This expansion will enable agents and businesses to engage and closely...
Biden’s Reanimated Campaign Drives $48 Billion Gain for Health Insurers
Mar 5 2020 // Health insurers added about $48 billion in market value and led U.S. stock market gains on Wednesday after Joe Biden’s once-faltering Democratic presidential campaign was reanimated on Super Tuesday. The...
Canada Government Must Move Quickly to Map Flood Risks, Insurers Warn
Mar 5 2020 // Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of mapping flood...
AM Best Assigns A- Credit Ratings to Minnesota’s SFM Companies
Mar 4 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to SFM Mutual Insurance Co. and its affiliates, SFM Safe Insurance Co. and SFM Select Insurance...
Direct Sales of Small Business Insurance Poised to Grow to $12B by 2025: Novarica
Mar 4 2020 // Over the past decade, selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality. In a new report, research and advisory firm Novarica projects significant growth in the...
D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment
Mar 4 2020 // Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best...
EXOR to Sell PartnerRe to French Insurer Covea for $9 Billion
Mar 4 2020 // EXOR has agreed to sell PartnerRe to French mutual insurer Covéa, a move that is turning out to be a very profitable thing for the Italian investment firm. EXOR bought the Bermuda-based reinsurer in March 2016 for $6.72...
Insurance Unlikely to Cushion Coronavirus Losses – But There Are Exceptions
Mar 4 2020 // Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The...
Update: Demotech Evaluating 2019 Results of Florida Carriers, Expects ‘Many’ Downgrades
Mar 4 2020 // Ratings agency Demotech is currently reviewing the 2019 fourth quarter earnings and year-end financials of the Florida insurers it rates after indicating in January that several Florida domestic insurers could receive...
Texas Insurer Hallmark Financial Exiting Binding Primary Commercial Auto Business
Mar 3 2020 // Citing loss development for prior underwriting years, Dallas-based specialty property/casualty insurer Hallmark Financial Services Inc., is exiting its Binding Primary Auto business. The commercial auto product the company...
New Insurer Relm Offers Cover for Cryptocurrency, Cannabis Businesses
Mar 3 2020 // Relm, a Bermuda-based insurer that specializes in emerging business categories, has opened its doors for business. The new business, which is led by CEO Joe Ziolkowski and Operations Vice President Keyla Roman, is owned by...
New York Insurers Required to Waive Cost-Sharing for Coronavirus Testing
Mar 3 2020 // The New York State Department of Financial Services is requiring New York health insurers to waive cost sharing associated with testing for novel coronavirus, including emergency room, urgent care and office visits. New...
Re/Insurers to Feel Coronavirus Impact From Financial Market Volatility: Moody’s
Mar 2 2020 // Global insurers and reinsurers are exposed to the coronavirus outbreak directly through a potential spike in claims, and indirectly through the impact on economic growth and the resultant financial market volatility,...
Iowa Court Slashes Insurer’s Payment to Paralyzed Worker
Mar 2 2020 // The Iowa Supreme Court has dramatically reduced the compensation a paralyzed northeast Iowa man received from a jury in a lawsuit against an insurance company even while finding the company’s actions were...
Agency M&As: Private Equity Still in Driver’s Seat; Digital Agencies Attract Attention
Mar 2 2020 // The private equity bandwagon continued to roll through the insurance agency and brokerage mergers and acquisitions territory in 2019. As many as two-thirds of all deals involved private equity, according to experts. Most...
Insurtech: It’s not Just for Carriers Anymore
Feb 28 2020 // Until recently, insurtech not only was perceived as a competitive threat to independent agents, there was little startup activity dedicated to tackling the operational needs of insurance agents and brokers. That’s...
Global Insurers Face Hefty Claims If Coronavirus Forces Olympics Cancellation
Feb 28 2020 // Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of dollars. Japan has more...
