Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
California Commissioner Orders Workers’ Comp Insurers to Report Federal Income Tax Savings
Jul 2 2018 // California Insurance Commissioner Dave Jones announced today issued an order that every insurer licensed to write workers’ compensation in the state must report their federal income tax savings annually through a...
Kemper Completes Acquisition of Specialty Auto Insurer Infinity P&C
Jul 2 2018 // Chicago-based insurer Kemper Corp. has closed on its $1.6 billion acquisition of Birmingham-based nonstandard auto insurer Infinity Property and Casualty Corp. The stock portion of the cash and stock deal announced in...
Momentum for Rate Hikes Dissipates During June/July Renewals: Willis Re Report
Jul 2 2018 // Momentum for rate increases on loss-free reinsurance accounts dissipated during the June/July property catastrophe renewals, and in some cases, pricing declined, according to a report published by Willis Re. For example,...
Luxembourg Runs Low on Large Offices for Insurers, Banks Seeking Post-Brexit HQs
Jul 2 2018 // Luxembourg is so tiny that map-makers have been known to give up and pretend it’s not there. So as the minuscule financial hub continues to draw London firms opening up a post-Brexit presence in the European Union,...
Mississippi Agent Accused of Not Forwarding Premiums to Insurers
Jul 2 2018 // A cease and desist order has been issued to a Mississippi insurance agent accused of failing to forward premiums to the respective insurance companies. The Mississippi Insurance Department said that it issued the order...
S.C. Supreme Court: Defense Counsel Can Be Sued for Malpractice by Insurer
Jul 2 2018 // The South Carolina Supreme Court recently opined that an insurer can sue an attorney it hired to defend its policyholder for malpractice. The high court in the case of Sentry Select Insurance Company v. Maybank Law Firm,...
The Changing Nature of the Agent-Carrier Relationship in a Customer-Centric World
Jul 2 2018 // Auto insurance shoppers are placing greater importance on having more services provided to them today versus five years ago, underscoring the fact that shoppers are increasingly demanding more product options and more and...
Catastrophes Hit Homeowner Insurers; Combined Ratio Moves Above 107: A.M. Best
Jul 2 2018 // After four years of sub-100 combined ratios for the U.S. homeowners insurers, the segment saw its combined ratio deteriorate to 107.1 in 2017 as a result of numerous catastrophes, according to an A.M. Best report. The new...
Rising Homeowners Losses Hurt P/C Insurers: Fitch
Jul 2 2018 // Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal auto insurance contributed...
Partnering with Insurtech to Transform Rather Than Disrupt Insurance
Jul 2 2018 // The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change can seem disruptive,...
California Workers’ Comp Rating Bureau Exploring Blockchain, Behavioral Science
Jul 2 2018 // One wouldn’t normally associate blockchain with workers’ compensation, two completely different industries that seem worlds apart. But as it turns out, the technology is of value to at least one very important...
California Commissioner Angry at Insurers for Altering Wildfire Bills
Jun 28 2018 // California Insurance Commissioner Dave Jones is irked that the insurance industry has worked to alter legislation he supports that he says is aimed at strengthening consumer protections for wildfire survivors. Senate Bill...
Digital Insurance Agency EverQuote’s IPO Begins Today at $18 Per Share
Jun 28 2018 // Cambridge, Mass.-based online insurance agency EverQuote Inc. announced the pricing of its initial public offering of 4,687,500 shares of its Class A common stock at a public offering price of $18 per share. The shares are...
Malaysia Expected to Give Foreign Insurers More Time to Cut Local Stakes: Sources
Jun 28 2018 // Malaysia’s central bank is considering granting extensions to some foreign insurers to give them more time to trim stakes in their local ventures, people with knowledge of the matter said. Foreign insurers are...
Top Practice Areas for Lawyers’ Malpractice Claims
Jun 28 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...
Insurtech Agency CoverWallet Offers Its API for Other Small Firms to Offer Insurance
Jun 27 2018 // Digital small business insurance agency CoverWallet, which is partly owned by insurers Zurich Insurance and Starr Companies, is expanding its distribution by letting other small businesses such as accountants and lenders...
Swiss Re-Backed Insurer FWD Weighs IPO in Hong Kong
Jun 27 2018 // Hong Kong billionaire Richard Li is laying the groundwork for a potential initial public offering of his insurance company FWD Group after five years of building the business through acquisitions, people familiar with the...
EU Will Not Ease Post-Brexit Market Access for UK Insurers, Banks: Official
Jun 26 2018 // The European Union’s default market access for foreign financial firms will not be eased for Britain after Brexit and improvements to the equivalence regime will apply to all third countries, an EU official told...
Partnering with Insurtech to Transform Rather Than Disrupt Insurance
Jun 26 2018 // The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change can seem disruptive,...
