Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Wisconsin’s Burns Insurance Agency Joins Keystone Insurers Group
Oct 12 2018 // Keystone Insurers Group (Keystone) has named Burns Insurance Agency of Marshfield to its growing list of partners in Wisconsin. Burns Insurance Agency was established in May 2000 by Cindy Burns. Dan Burns joined the agency...
Insurers, Reinsurers Can Handle Hurricane Michael Losses: Fitch
Oct 12 2018 // The property/casualty re/insurance industry should be able to absorb the losses from Hurricane Michael, on top of losses from Hurricane Florence, as capital remains very strong, according to Fitch Ratings. Hurricane...
Enmity Erupts Between Former Private Equity Partners Over Lucrative Insurance Units
Oct 12 2018 // Nearly a decade ago, Imran Siddiqui helped engineer a shrewd maneuver for buyout mogul Leon Black’s Apollo Global Management LLC, one that’s yielded many millions for the firm. Then Siddiqui and Apollo parted...
A.M. Best: Insurer Losses from Hurricane Michael Will Be ‘Significant’
Oct 12 2018 // Insurers, reinsurers and ILS investors could face significant losses from Hurricane Michael, a major Category 4 storm that began its assault on the Florida Panhandle Wednesday, according to a briefing from A.M. Best. Best...
The IPCC Climate Change Report and Implications for Insurers
Oct 11 2018 // A report out earlier this week from the Intergovernmental Panel on Climate Change doesn’t say a whole lot about insurance, but the implications for the industry are hard to ignore. Chief among those implications is...
London Market Insurers’ Profits Remain Under Pressure with Excess Capacity: Fitch
Oct 11 2018 // The profitability of London market and Lloyd’s insurers is expected to remain under pressure in 2018, despite the fact that rates improved slightly following the catastrophe losses in the second quarter of 2017,...
Largest African Insurer Sanlam Completes Acquisition of Morocco’s Saham Finances
Oct 11 2018 // Sanlam Ltd., Africa’s largest insurer by market value, said it fulfilled all the conditions for the $1.1 billion purchase of the shares it doesn’t already own in Morocco’s Saham Finances SA after...
CoreLogic Estimates Hurricane Michael Losses Could Top $4.5B; Top 10 Insurers Affected
Oct 11 2018 // Hurricane Michael’s torrential rain, storm surge, and hurricane-force maximum sustained winds that reached 140 miles per hour Wednesday could result in a historically devastating event for the northeastern Gulf...
UK Insurers, Businesses Urge Government Not to Raise Insurance Premium Tax – Again
Oct 10 2018 // UK insurers and businesses are urging the UK Treasury not to further penalize insurance customers by raising the insurance premium tax (IPT), which currently costs each household an average of £200 ($262) annually. The UK...
Florida Regulator Urges Insurers to Respond Quickly After Michael, Says 500K Insureds At Risk
Oct 10 2018 // Fast-moving Hurricane Michael is expected to be a significant storm for the Florida Gulf Coast, and the state’s top insurance regulator says the insurance industry is ready to respond to whatever destruction it may...
Update: UK Insurer Aviva to Replace CEO Wilson as Shareholders Seek Higher Returns
Oct 9 2018 // Aviva is replacing its chief executive Mark Wilson after his sweeping transformation of the British insurer did not deliver the returns shareholders were looking for. During his six years in charge, the high-profile...
New York’s MLMIC Insurance Company Joins Berkshire Hathaway Family of Companies
Oct 8 2018 // MLMIC Insurance Company, formerly known as Medical Liability Mutual Insurance Company, has completed its conversion from a property and casualty mutual insurance company to a property and casualty stock insurance company...
Get Ready for the Insurtech Revolution, Act 2
Oct 8 2018 // The digital revolution in insurance is about to begin its second act. Having in its first phase used science and technology to inspire a rethinking of insurance that is making insurance easier and more efficient to buy and...
Israeli Risk Modeling Firm Kovrr Launches Silent Cyber Risk Identification Product
Oct 5 2018 // KOVRR, a provider of predictive modeling for cyber insurance, announced a silent and affirmative cyber risk product. The new product enables insurance and reinsurance carriers to identify uncalculated capital at risk and...
Lending Tree to Buy Online Insurance Service QuoteWizard for $370M
Oct 5 2018 // Online financial services marketplace LendingTree Inc. said it has agreed to acquire QuoteWizard.com, one of the largest online insurance comparison marketplaces. Since its founding in 2006, QuoteWizard has helped nearly...
Bond Insurers Want Independent Receiver for Puerto Rico’s Bankrupt Electric Utility
Oct 5 2018 // Bond insurance companies that were not part of a preliminary deal to restructure debt issued by the Puerto Rico Electric Power Authority (PREPA) have relaunched litigation seeking a receiver for the bankrupt agency. The...
California Insurance Commissioner Wants Inventory Requirements Eased for 2018 Wildfire Survivors
Oct 4 2018 // California Insurance Commissioner Dave Jones wants insurers to assist wildfire survivors by voluntarily easing detailed personal property home inventory requirements and to follow the lead of other insurers providing at...
Japanese Typhoons Put Downward Pressure on Creditworthiness of Insurers: S&P
Oct 4 2018 // The recent run of large natural disasters to hit Japan likely has put downward pressure on the creditworthiness of the nation’s three largest non-life insurance groups, according to S&P Global Ratings in a market...
Doctor’s Alleged Fraud Scheme Throws Medical Claims Review Process into Doubt
Oct 2 2018 // For years, Spyros Panos seemed like a successful orthopedic surgeon, seeing dozens of patients a day and bringing in millions of dollars in fees for his suburban New York medical group. In fact, he was inflating charges...
How New Business Is Creating a New Wholesaler-Retailer Relationship
Oct 2 2018 // An influx of new business is presenting surplus lines wholesalers and their retail partners with new opportunities to work together even as other forces are changing how they work together. The surplus lines insurance...
