Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Markel Licensed to Form Insurer in Germany, Securing Post-Brexit EU Access
Jul 20 2018 // Markel Corp. announced it has been granted a license by the German federal financial supervisory authority, BaFin, to establish an insurance company in Germany. Following Brexit, the United Kingdom’s exit from the...
Bond Insurer Urges Receiver for Puerto Rico’s Bankrupt Utility
Jul 20 2018 // MBIA Inc.’s National Public Finance Guarantee is urging Puerto Rico’s federal board to consider putting a receiver in charge of the island’s bankrupt power utility after the electricity provider lost two...
Michigan Court Backs Insurer Denying $300K Payout in Head-On Crash
Jul 19 2018 // An insurance company refused to pay $300,000 in a head-on crash that killed a Michigan man and his mother after a doctor came up with a key conclusion: Robert Krugman likely drifted out of his lane because of a heart...
Texas Insurers’ Trade Group Honors Gerik with Raymond Mauk Award
Jul 19 2018 // The Insurance Council of Texas (ICT) has honored Mike Gerik, executive vice president at the Texas Farm Bureau Mutual Insurance Co., with the 2018 Raymond Mauk Leadership Award. ICT presented the Mauk Leadership Award to...
UK Insurers, Banks ‘Must Plan for Hard Brexit’ if Transition Deal Fails: Regulator
Jul 19 2018 // Britain’s banks and insurers must plan for a “hard” Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday in a warning echoed by Brussels. “With...
Auto Insurers Warn Tariffs on Auto Parts Could Raise Insurance Costs
Jul 19 2018 // A threat by the U.S. government to impose tariffs of up to 25 percent on imported auto parts could hit consumers in unexpected ways: higher repair costs, insurance premiums and even the theft of more cars for their parts,...
How the Florida Insurance Industry Hopes to Rein In AOB Crisis
Jul 19 2018 // “I think the number one thing the insurance industry can do is link AOB (assignment of benefits) to the impact that it’s having on the individual consumer and the huge impact it’s having on the premiums...
Court Finds Travelers Crime Policy Covers Money Transfer Loss Due to Email Spoofing
Jul 17 2018 // For the second time in about a week, a federal appeals court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer...
Industry Needs to ‘Question and Call Out’ Rogue MGAs, Says Chilton of Gallagher
Jul 17 2018 // While there’s a bright future for managing general agents that “get it right,” Grahame Chilton, CEO of Gallagher UK, warns against tolerating the few rogue MGAs who could ruin the reputation of the entire...
U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance
Jul 16 2018 // New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers,...
P/C Insurers Double Q1 Profit on Tax Changes, Growing Economy, Lower Cat Losses
Jul 16 2018 // Tax reform, a growing economy and lower catastrophe losses helped U.S. property/casualty insurers more than double their first quarter profit this year. Insurers’ net income after taxes surpassed $17 billion during...
North Carolina Estimates $30M Economic Impact from Insurance Captives
Jul 16 2018 // The North Carolina captive insurance program, established in 2013, had an estimated $30 million impact on the state in 2017, according to a statement from the North Carolina Insurance Department. The $30 million estimate...
Conflicts of Interest Leads List in Lawyers’ Malpractice Claims: Ames & Gough
Jul 16 2018 // New malpractice claims against lawyers are being driven by inadequate safeguards against conflicts of interest, along with participation in certain expanding and complex practice areas, according to a new study by...
3 New P/C Insurers OK’d to Do Business in Arkansas
Jul 16 2018 // Three new property/casualty insurance companies have been approved to do business in Arkansas, the state insurance department reported. All three are based in Florida. Counting the recently accepted companies, 10 new...
Oklahoma High Court: Workers’ Comp Carriers, Self Insurers Eligible for Rebates
Jul 16 2018 // If a recent ruling by the Oklahoma Supreme Court remains unchanged, the state’s tax authority may end up having to pay millions of dollars in rebates to workers’ compensation carriers and companies that...
Louisiana’s Donelon Reminds Insurers of ‘Producer of Record’ Obligations
Jul 16 2018 // Stating it has come to his attention that not all insurers are abiding by state law regarding certain insurance policy “producer of record” changes, Louisiana Insurance Commissioner Jim Donelon issued a...
People
Jul 16 2018 // Hanover Stone Solutions, an advisory firm providing risk consulting services to U.S. property/casualty and life insurance companies, has appointed Joanne Morrissey and Gary Dubois as senior advisors based in New York...
Canadian Health Insurers Reluctant to Provide Cover for Medical Marijuana
Jul 13 2018 // Sun Life Financial, Canada’s No. 2 insurer, recently started covering medical marijuana in its Canadian health insurance plan – more than 17 years after the country first legalized it. The coverage, which requires...
UK Banks, Insurers Support Global Standards for Regulation After Brexit: Watchdog
Jul 13 2018 // Britain’s banks and insurers want to stick to global standards on financial regulation after Brexit and are not calling for a “race to the bottom” to win business from European rivals, the head of...
UK Regulator Warns Insurers, Banks About Responsible Use of Customers’ Big Data
Jul 12 2018 // Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on...
