Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
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...
