Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Catastrophe Bonds – A to Z
Aug 7 2018 // A reader of this publication, the president of an insurance agency, recently wrote to say he kept hearing about catastrophe bonds but had little knowledge of what they were. He was curious if these instruments would...
New AIR Reinsurance Cat Modeling Software Estimates Insurer Loss Potential
Aug 6 2018 // Catastrophe risk modeling firm AIR Worldwide announced that it has released Touchstone Re, a new catastrophe modeling software application designed for estimating the loss potential of reinsurance contracts and portfolios,...
As Underwriting Pain Increases, Insurers Pull Back from Underperforming Lines
Aug 6 2018 // News that Lloyd’s is undergoing a strategic review of its operations may be part of a larger industrywide phenomenon—reality is setting in and underwriting pain is increasing, an industry executive said last...
Texas Seeks Input on Changes to Catastrophe Data Call Standards
Aug 6 2018 // Texas insurance regulators have responded to insurer requests for revisions to its standards for catastrophe data calls and is seeking input on the proposed changes. The Texas Department of Insurance said following...
Auto Insurer Loses Appeal for Dismissal of Complaints in Louisiana Claims Dispute
Aug 6 2018 // In late June, the Louisiana Supreme Court ruled against an insurer and its insureds seeking summary judgement dismissing complaints against them in a case involving auto insurance claims. At issue was whether or not the...
Security First Enters Florida’s Growing Private Flood Market
Aug 6 2018 // A new carrier has entered the Florida flood insurance market with a policy it says will provide better coverage than what is available from the National Flood Insurance Program. Ormond Beach, Fla.-based Security First...
The Declining Value of Insurance
Aug 6 2018 // Value is a relative term often specific to a given asset. For example, if the price of gold declines from $1,800 per ounce to $1,250 per ounce, as it has, then gold is less valuable. The price of insurance is set to...
Maryland Appeals Court Says Insurer Has Duty To Defend in Hidden Camera Case
Aug 6 2018 // The Maryland Court of Special Appeals has concluded Harleysville Preferred Insurance Co. has a duty to defend the limited liability company that owns and operates Rams Head Tavern in underlying litigation regarding a...
Michigan State Sues Insurers Over Nassar Victims’ Sex Assault Claims Coverage
Aug 6 2018 // Michigan State University has filed suit against 13 insurance carriers over coverage of sexual assault claims by victims of now-imprisoned former sports doctor Larry Nassar. The lawsuit against the insurers was filed July...
South Dakota Moves to Liquidate Surety Insurer ReliaMax
Aug 6 2018 // ReliaMax Surety Co. has been placed into liquidation by the South Dakota Division of Insurance. The South Dakota DOI petitioned the Hughes County Circuit Court on June 12, 2018, to place ReliaMax into liquidation due to...
Carr Fire Losses May Reach $1.5B in Likely Another Destructive Season for California
Aug 2 2018 // California’s Carr wildfire has the potential to yield losses of up to $1.5 billion, according to a Moody’s report issued on Thursday. The fire has ravaged parts of Shasta County in or near Redding in the...
CNA Hardy’s EU Subsidiary Granted Insurer License in Luxembourg
Aug 2 2018 // CNA Hardy, the specialist commercial insurer writing business within the Lloyd’s and company markets, announced that its new European subsidiary has successfully been granted an insurance company license by...
Insurer RSA Reports 15% Drop in H1 Operating Profit on Winter Weather Claims
Aug 2 2018 // Icy roads and frozen pipes due to bad weather in Canada and Britain hit insurer RSA’s first-half operating profit on Thursday, though results were in line with analyst forecasts. General insurer RSA, best known in...
California Commissioner Asks Insurers to Help Speed Wildfire Recovery Efforts
Aug 1 2018 // California Insurance Commissioner Dave Jones announced on Wednesday he is taking actions he says will help protect thousands of wildfire survivors. His first action is a notice requesting insurers to expedite claims...
TWIA Board OKs Additional $106.8M Insurer Assessment for Harvey Losses
Aug 1 2018 // The Texas Windstorm Insurance Association (TWIA) board has unanimously approved an additional Class 1 member assessment of $106.8 million for Hurricane Harvey losses, the Insurance Council of Texas (ICT) reported. The...
Insurers Being Asked About Asbestos-Talcum Exposure After J&J $4.6 Billion Verdict
Aug 1 2018 // Wall Street is trying to figure out whether the U.S. insurance industry will bear any costs from a record $4.69 billion judgment against Johnson & Johnson awarded to customers and their families who claimed that...
Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources
Jul 31 2018 // Lloyd’s of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU,...
Hong Kong Insurer FWD Group Eyes Singapore Listing
Jul 31 2018 // Hong Kong billionaire Richard Li’s FWD Group is considering listing in Singapore with a dual-class structure, as the insurer moves ahead with its initial public offering preparations, people with knowledge of the...
Insurer Settles Suit Over Toddler Death in Hot Oregon Apartment for $100K
Jul 30 2018 // An insurance company for a Portland apartment complex has agreed to pay $100,000 to settle a lawsuit filed by the mother of a 2-year-old girl who died in her bedroom after a heater malfunctioned. In a lawsuit that had...
Michigan State Sues Insurers Over Nassar Claims Coverage; Stops Victim Payments
Jul 30 2018 // Michigan State University has filed suit against 13 insurance carriers over coverage of sexual assault claims by victims of now-imprisoned former sports doctor Larry Nassar. The lawsuit against the insurers was filed July...
