Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
North Carolina Insurance Fraud Round-Up: March
Apr 9 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of March 2019. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to North...
Opioid Trial Winds Down; Insys Execs Deny Bribing Doctors, Duping Insurers
Apr 5 2019 // A U.S. prosecutor portrayed Insys Therapeutics Inc. founder John Kapoor and other former executives as greedy and heartless during closing arguments in their racketeering trial over the promotion of the opioid painkiller...
Microsoft Insurer Loses Bid To Recoup $175M from Xbox Chipmaker Hit by Fire
Apr 4 2019 // Microsoft Corp.’s captive insurer has lost its bid to recover $175 million in costs the software maker said it incurred in 2013 to replace memory chips that a manufacturer failed to deliver because of a fire at the...
Gramercy Risk Holdings Acquires New York’s Executive Insurance Company
Apr 4 2019 // Gramercy Risk Holdings LLC, a Uniondale, N.Y.-based insurance holding company, has acquired Executive Insurance Company, a New York-domiciled admitted insurance company. Following the acquisition, Executive will be renamed...
How Insurtech Will Revolutionize Inland Marine by Cutting Costs
Apr 4 2019 // Insurtech advances will soon drive down unacceptably high expense ratios in the inland marine sector, making it possible to insure even hard-to-place, small or one-off inland marine risks at the best possible...
Insurer to Pay $325K in Wisconsin City’s Harassment Suit Settlement
Apr 3 2019 // The Wisconsin city of Mondovi will settle a lawsuit filed against its former mayor by a police officer who claimed she was denied a promotion for reporting the mayor’s unwanted advances to her superiors. The former...
Doctors, Insurer Propose Tracking Patients’ ‘Social Conditions’ for Referrals
Apr 2 2019 // If you get struck by lightning or bitten by a pig, a physician can record that information with a code shorter than your phone number. But if you can’t afford your bills, doctors and health plans have no consistent...
From Insurers to Traders to Retailers, More Industries Depend on Weather Tracking
Apr 1 2019 // Every uptick in wind speed along the Gulf of Mexico shoreline is of enormous interest to Mike Eilts. Eilts, senior vice president for weather at DTN, a Minnesota-based analytics firm, knows that an unexpected cold front in...
How Disasters, Tax Reform Affected P/C Insurers’ Performance in 2018
Apr 1 2019 // Mainly due to above-average catastrophe losses, the aggregate financial performance of U.S. publicly traded property/casualty insurers deteriorated slightly in 2018, according to a new A.M. Best special report. The...
Insurer Introduces Revolutionary 3-Word Personal Insurance Policy
Apr 1 2019 // APRIL 1, 2019 — An insurance company that says it wants to simplify insurance has whittled its personal insurance policies for families down to three words. The new product, named TriWord, bundles property and casualty...
Workers’ Comp and the Gig Economy: Status Quo Remains, for Now
Apr 1 2019 // The rise of an on-demand economy once threatened to put workers’ compensation insurers in the hot seat, in large part because the question of how the sector could, or should, cover these individuals remained...
Insurers Cautious About Marijuana Insurance Market
Apr 1 2019 // The marijuana industry is an opportunity for insurers as more states have legalized the drug. But there are still risks in play that could limit wider carrier participation, A.M. Best said in a new report, “Cannabis:...
How Drones and Aerial Imagery Use Rose to New Heights Post 2018 Catastrophes
Apr 1 2019 // The importance of drones and aerial imagery rose to a new level in the wake of 2018 natural catastrophes as insurers made them an integral part of their disaster recovery procedures, particularly following the hurricanes...
Today’s Hot Markets
Apr 1 2019 // Telemedicine, Breweries, Intellectual property, Nurseries and Cottage foods Insurance Journal examined industries experiencing changes, challenges, expansions and growth in the past year. Here are five industry sectors and...
8 Things to Consider When Buying or Selling an Insurance Agency
Apr 1 2019 // Insurance agency acquisitions and deal values are near an all-time high and all expectations are that deal flow in 2019 will match or exceed last year’s numbers. And while reported numbers tend to skew towards larger...
Attorney Turned Criminal Apologizes to Insurers for Giant Workers’ Comp Fraud
Apr 1 2019 // Sean Enrique O’Keefe said he started out as a “humanistic attorney,” but he became a mercenary and then a criminal who netted $700,000 a year by sending San Diego workers’ compensation claimants to...
Final Four a ‘Big-Ticket’ for Insurers Covering NCAA Tournament
Mar 29 2019 // If the NCAA’s Final Four basketball games were to be cancelled or postponed for any reason, that would be really, really bad news, not only for the collegiate sports association and fans but also for the panel of...
House Committee Passes Bill to Protect Banks, Insurers Serving Marijuana Businesses
Mar 29 2019 // A House committee has advanced a bill to protect financial institutions from criminal prosecution for providing services to legal marijuana businesses. The House Financial Services Committee voted 45 to 15 in favor of the...
California Commissioner Yet to Move on Petition from Climate Activists for More Insurer Regs
Mar 28 2019 // Nobody’s saying much as California Insurance Commissioner Ricardo Lara considers how he will respond to a petition submitted by climate change activists urging him to place new regulations on insurers to disclose...
UK Insurers Pay Record £1 Million ($1.3 Million) Each Day for Vehicle Thefts: ABI
Mar 28 2019 // A surge in vehicle thefts, including keyless car crime, has led to motor insurers paying out a record £1 million (US$1.3 million) every day, according to figures published by the Association of British Insurers (ABI). See...
