Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
P/C Insurers Improved Results in Q1
May 28 2018 // The U.S. property/casualty insurance industry saw its combined ratio improve by nearly five points in the 2018 first quarter and net underwriting income grow at a healthy clip, A.M. Best said in a special report. A...
Professor Says Window to Prevent Dangerous Impacts from Climate Change Closing Fast
May 24 2018 // Costs from climate change-driven extreme weather events are on the rise, and the amount of time left to stop those impacts before they get progressively worse is rapidly closing, according to a Columbia University...
Mercer’s Sun to Succeed Zheng as CEO of AIG’s China Insurer
May 24 2018 // American International Group announced that Lisa Sun will join the company as chief executive officer of AIG Insurance Company China. Sun joins AIG from Mercer, where most recently she was CEO of Mercer’s Hong Kong...
How Data Privacy Laws Could Hamper Insurance Underwriting
May 24 2018 // Complying with the European Union’s new General Data Protection Regulation is leading insurers and reinsurers to dilute the types of data they gather—something that could diminish underwriting quality, A.M. Best...
Bond Insurer Assured Guaranty Sues Puerto Rico Again Over Turnaround Plan
May 23 2018 // Bond insurer Assured Guaranty sued Puerto Rico and its federally-appointed oversight board on Wednesday, saying their plan to resuscitate the storm-ravaged, bankrupt U.S. territory violates the U.S. Constitution by...
Insurers Welcome Global Regulation Provision in Banking Reform Bill
May 23 2018 // The financial services regulatory reform measure passed by Congress yesterday, which contains parts of more than 25 different bills, includes a provision on international insurance regulation that is being met with cheers...
California Organized Investment Network Launches High Impact Service for Insurers
May 23 2018 // The California Organized Investment Network has launched the Impact Investment Marketplace, a portal to help facilitate high impact investments in underserved communities and environmental projects in California. The...
Report Says Record Number of Data Breach Notices Filed in New York in 2017
May 23 2018 // The New York Attorney General’s Office (NYAG) this year released a report outlining a record number of data breach notices filed with the office in 2017 – the highest since NYAG started receiving data breach...
New Jersey Reminds Residents, Insurance Companies to Prepare for Hurricane Season
May 22 2018 // The New Jersey Department of Banking and Insurance is urging the insurance and banking companies it regulates, as well as New Jersey residents, to prepare now for hurricane season, which officially begins June 1. All...
U.S. Cyber Market Grew 32% in 2017 But Most Small-Medium Firms Opted Out: A.M. Best
May 21 2018 // The U.S. market for cyber insurance grew significantly in 2017, as direct premiums written rose nearly 32 percent year over year to $1.8 billion, and policies in force jumped 24 percent to 2.6 million, according to an A.M....
Washington Orders Microsoft to Stop Using Captive Insurer
May 21 2018 // Washington’s insurance commissioner issued a cease and desist order against Microsoft Corp. to stop using its Arizona-domiciled captive, Cypress Insurance Co. Insurance Commissioner Mike Kreidler’s cease and...
Insurers’ Worst Fear: Cyber Hurricane or Silent Cyber?
May 21 2018 // Insurers in the cyber insurance segment have enjoyed exponential growth in the market over the last 10 years, and that is expected to continue as the world becomes even more connected via the internet. But while the growth...
Channel Harvest Survey: Where Do Carriers Fall Short of Agent Expectations?
May 21 2018 // There appears to be a misalignment between carrier performance and independent agents’ expectations in both personal and commercial lines. These are selected findings of “Agent Voices 2018,” a...
N.Y. Updates Insurance Company Disaster Response, Recovery Plan Requirements
May 21 2018 // The New York Department of Financial Services (DFS) has issued updated disaster response and recovery plan requirements for all insurance companies licensed to conduct business in New York state. It issued these updated...
California Man Nabbed for Getting Comp from Multiple Insurers While Working
May 21 2018 // Michael Williams, 34, of Daly City, Calif., was arrested on 21 felony counts of insurance fraud and grand theft after allegedly working for multiple employers while collecting over $85,000 in workers’ compensation...
California Commissioner Ran a Climate Change ‘Stress Test’ on Insurers
May 21 2018 // California Insurance Commissioner Dave Jones has run a “stress test” on the state’s largest insurers. Jones said during a press conference in May that he is the first U.S. financial regulator to conduct a...
Global Insurers Reassessing Iran Business In Light of Sanctions Threat
May 20 2018 // Global insurers are taking stock of how the U.S. withdrawal from an international agreement to deny Tehran nuclear weapons, and threatened sanctions against companies that do business with Iran, could affect...
Insurers Urge Focus on Safety and Data Sharing in Autonomous Vehicles
May 18 2018 // While automated driving systems hold great promise to save lives and reduce crashes, the focus must remain on validating the safety of the technology every step of the way, according to the National Association of Mutual...
After Tax Cuts, Insurers Shy Away from Muni-Bonds
May 18 2018 // Some of the biggest U.S. insurers reduced their holdings of state and local government bonds after the corporate tax cut took effect this year, marking a retreat by a key buyer in the $3.9 trillion municipal-securities...
It’s Up to Insurers to Prevent Brexit Disruption of Policies, Warns EU Chief
May 17 2018 // There is no guarantee that Brexit won’t disrupt millions of insurance and derivative contracts and it is still up to firms to take preventive measures, the European Union’s financial services chief said on...
