Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurtech Next Insurance Raises $83 Million to Expand; Nationwide, Munich Re Among Investors
Jul 11 2018 // Next Insurance has raised $83 million in new financing, money it said will fuel its continued U.S. expansion as a full-service digital insurance carrier focused on the small business market. Nationwide Insurance and Munich...
Rhode Island Auto Body Shop Legislation Goes Into Effect
Jul 11 2018 // Updated legislation regarding the use of aftermarket parts in the repair of motor vehicles, passed by the Rhode Island General Assembly in June, has become law without Rhode Island Governor Gina Raimondo’s...
Insurance Company Pays $107K After Kansas Boy Topples Sculpture
Jul 11 2018 // A city in Kansas has received $107,000 from a family’s insurance company after a 5-year-old boy accidentally knocked over a sculpture at a community center. Overland Park spokesman Sean Reilly says the city plans to...
Florida-Based Insurer Federal National Rebrands as FedNat Insurance Co.
Jul 11 2018 // FedNat Holding Co., formerly known as Federated National Holding Co., has rebranded its largest insurance subsidiary to FedNat Insurance Company (FNIC). FedNat was founded in Florida in 1992 and through its wholly owned...
P/C Insurers Way Behind in Digital Customer Service: J.D. Power
Jul 10 2018 // Property/casualty insurers have a long way to go toward meeting customer expectations about their digital interactions. A new J.D. Power 2018 Insurance Digital Experience Study concludes that while a few insurers have...
How the U.S. Cyber Insurance Market Is Performing: Aon Report
Jul 10 2018 // The number of U.S. insurers providing cyber insurance continues to grow along with instances of cyber attacks. In 2017, 170 U.S. insurers reported writing cyber insurance, up from 140 in 2016 and 119 in 2015, according to...
California Orders Work Comp Insurers to Report Federal Income Tax Savings
Jul 9 2018 // California Insurance Commissioner Dave Jones has issued an order directing every insurer licensed to write workers’ compensation insurance in the state must report their federal income tax savings annually through a...
Oklahoma High Court: Rebates Still Available to Workers’ Comp Carriers, Self Insurers
Jul 9 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...
Impact of Court Ruling Chubb Unit’s Crime Policy Covers ‘Spoofed’ Wire Transfer
Jul 9 2018 // In a closely-watched case on insurance coverage in an age of expanding cyber risk, a federal appeals court in New York has upheld a lower court ruling that a commercial crime insurance policy covers wire transfer losses...
Some Health Insurers Say They’ll Be Squeezed by Obamacare Subsidy Freeze
Jul 9 2018 // Affordable Care Act insurers are facing a fresh round of uncertainty that could drive up premiums or push companies to stop offering coverage through the law, after the Trump administration’s latest move to cut off...
Maryland Appeals Court Says Insurer Has Duty To Defend in Hidden Camera Case
Jul 6 2018 // The Maryland Court of Special Appeals has concluded that Harleysville Preferred Insurance Company has a duty to defend the limited liability company that owns and operates Rams Head Tavern in underlying litigation...
Aon Names Matson to Lead New Global Portfolio Broking Team
Jul 5 2018 // Andrew Matson has been named leader of Aon’s newly formed Global Portfolio Broking team – a Reinsurance Solutions unit. Aon said the unit “will build on the success of established pioneering facilities, while...
Louisiana’s Donelon Reminds Insurers of ‘Producer of Record’ Obligations
Jul 5 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 has issued a...
3 New Property/Casualty Insurers OK’d to Do Business in Arkansas
Jul 5 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...
A.M. Best Downgrades AmTrust As Insurer Prepares to Go Private
Jul 5 2018 // A.M. Best has downgraded its financial strength and credit ratings for insurer members of the AmTrust Group, not long after AmTrust Financial Services Inc. (AFSI) shareholders approved a $2.95 billion deal that will make...
CFO: Florida Workers’ Comp Carriers to Save $20M in Costs Next Year
Jul 5 2018 // Cost savings in two Florida funds paid into by workers’ compensation carriers are expected to equal a nearly $20 million reduction in expenses for insurers operating in the state next year, according to a statement...
Burand’s State of P/C Insurance Industry: How P/C Insurance is Becoming Less Valuable
Jul 4 2018 // Value is a relative term often specific to a given asset. For example, if the price of gold declines from $1,800 an ounce to $1,250 an ounce, as it has, then gold is less valuable. The price of property/casualty insurance...
Top Private Flood Insurers and Market Report
Jul 3 2018 // During 2017, the private flood insurance market expanded considerably with 50 new carriers. In total, insurers reported direct private flood insurance premiums written of $630 million, an increase of $217 million over...
North Carolina Estimates $30M Economic Impact from Insurance Captives
Jul 3 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...
Insurers Question California Commissioner’s Authority to Make Comp Writers Report Federal Tax Savings
Jul 2 2018 // The insurance industry is wondering whether a new requirement from California Insurance Commissioner Dave Jones that workers’ compensation insurers report federal income tax savings is legal. Jones wants insurers...
