Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer MBIA Sues Banks Over ‘Financial Tragedy’ of Defaulted Puerto Rico Bonds
Aug 12 2019 // Bond insurance company MBIA Inc. sued several financial institutions on Thursday over their role in underwriting billions of dollars of Puerto Rico bonds that eventually went into default. The lawsuit filed in superior...
Mobile Auto Insurer Root Insurance Expands Into California
Aug 12 2019 // Root Insurance, a licensed insurance carrier powered by mobile, has entered California, making it now available to 60% of the U.S. population. Customers can sign up and customize their coverage to immediately see how some...
Mendota, Mendakota Insurance Companies Relocate to Tennessee from Minnesota
Aug 10 2019 // Mendota Insurance Company and Mendakota Insurance Company have completed relocating their corporate headquarters and changing their state of domicile from Minnesota to Tennessee, according to a statement from the Tennessee...
Execs: Wholesalers at Center of Topa Plans After Acquisition of California Insurer
Aug 9 2019 // Two key executives involved in the acquisition of Topa Insurance Group by Altamont Capital Partners who spoke about the deal were emphatic about one thing: wholesalers will continue to be the center of the company’s...
Hurricane Barry Cost Economy $600M, Insurers $300M: Aon Catastrophe Report
Aug 9 2019 // Total economic losses, largely flood-driven, were expected to exceed US$600 million, while public and private insurers paid out nearly US$300 million, said Aon in its latest edition of its monthly Global Catastrophe Recap...
Clarifying Law Around Insurance of Marijuana Act Would Reduce Gaps, Expert Says
Aug 8 2019 // Chris Boden is stoked about the potential of a recently introduced bill in Congress that would create a safe harbor for insurers engaging with cannabis-related businesses. Boden is the cannabis practice group team leader...
Insurers Pressured to Drop Coverage of Canada’s Oil Sands Pipeline
Aug 8 2019 // A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project, which carries crude from...
How AI Advances ‘No-Touch’ Resolution of Workers Compensation Claims: Opinion
Aug 8 2019 // Many human hours are needed to sort, analyze and process workers compensation claims—the vast majority of which are low in value. The U.S. workers comp insurance market is forecast to earn revenues of $55 billion in...
New Hurricane Response Tools from Munich Re Aim to Improve Claims Experience
Aug 7 2019 // Munich Re has launched a new suite of hurricane response tools designed to help insurance companies assess widespread property damage after a hurricane and improve their customers’ claims experience. Developed by...
Specialty Insurer Kinsale Capital Plans Public Offering
Aug 7 2019 // Richmond, Virginia-based specialty insurer Kinsale Capital Group said it intends to offer 530,000 shares of common stock in a public offering. Kinsale said it also expects to grant the underwriters a 30-day option to...
Texas Windstorm Insurer: No Rate Hike for 2020
Aug 6 2019 // Texas’ provider of last resort for wind and hail insurance for Texas coastal properties won’t be raising its residential and commercial property rates next year. The Texas Windstorm Insurance Association (TWIA)...
California Court of Appeal Hands Win to Insurer, Rental Car Space
Aug 5 2019 // The California Court of Appeal, Second Appellate District, has upheld the decision of a trial court ruling finding that fees rental car agencies charge for optional insurance need not be included in rate filings and are...
GEICO Gets Progressive, Joins Auto Insurers Offering Telematics
Aug 5 2019 // Berkshire Hathaway’s GEICO auto insurer has joined the ranks of carriers using telematics to track and improve driver behavior—after resisting for years. Berkshire Hathaway’s GEICO has been one of the few...
Resolving Claim Disputes: Step 2…Other Policy Interpretation Doctrines
Aug 5 2019 // Step 2 of the claim resolution process involves interpreting policy provisions that are cited as the basis for a claim denial. This step (and Step 3) employs up to 12 interpretive doctrines and 17 largely legal and...
Captives Remain Profitable, Continue to Outperform Commercial Insurers, Reports A.M. Best
Aug 5 2019 // U.S. captive insurance companies rated by A.M. Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’s counterparts in the commercial casualty sector, according...
Starr Insurance Companies Extends Defense Base Act Coverage to Small Contractors
Aug 2 2019 // Starr Wright Insurance Agency, Inc. (Starr Wright USA), a division of Starr Insurance Companies, has a launched a distribution channel for Starr Insurance Companies’ Defense Base Act insurance coverage, specifically...
Texas High Court Clarifies Bad Faith in Appraisal Process
Aug 2 2019 // An insurer’s payment of the appraisal value after disputing a claim does not establish that it was liable, nor does that payment prevent a policyholder from pursuing penalties under the Prompt Payment of Claims Act,...
UK Regulator Asks Insurers to Weigh Possible Business Impact of Climate Change
Aug 2 2019 // The Bank of England for the first time is asking British insurers to gauge how global warming might impact the value of the stocks and bonds they hold — and its potential to upend financial markets. The central bank,...
Health Insurers Seek Average 2% Rate Hike for Arkansas Exchange
Aug 1 2019 // Arkansas officials say the four companies providing coverage through the state’s insurance exchange under the federal health care overhaul law are seeking an average rate increase of about 2% for next year. Insurance...
Nebraska Insurer, Ameritas: Data Breach Possibly Exposed Customers’ Info
Aug 1 2019 // Lincoln, Nebraska-based insurance and finance company Ameritas has notified customers that their personal information may have been exposed in a data breach. The Lincoln Journal Star reports that the company said in a...
