Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
How Payment Policies of Insurers, Government Discourage Opioid Alternatives
Dec 1 2017 // For the drug industry, building a better pain pill is a problem. Pharmaceutical companies have introduced new medicines to treat dependence, reverse overdoses, and deal with opioids’ side effects. But few effective...
Insurers’ Asbestos Payments in 2016 Topped $3 Billion
Nov 30 2017 // While U.S. asbestos-related incurred losses dropped in 2016, property/casualty insurers’ payments for asbestos claims grew 9 percent and hit $3.2 billion for the year, a new A.M. Best report concludes. The $3.2...
Florida’s Hurricane Irma Recovery: The Cost, The Challenges, The Lessons
Nov 30 2017 // The hurricane season is officially over, but it didn’t go by without leaving a major mark on Florida and its insurance industry. Hurricane Irma, a name most in the state won’t soon forget, first hit the Florida...
Another Insurance Fraud Reminder
Nov 29 2017 // Two recent stories in Insurance Journal caught my eye and gave me this topic. Florida Puts Worker’s Comp Carrier Guarantee Insurance In Receivership Florida Keys Insurance Agent Accused of Defrauding Citizens...
Markel Completes Acquisition of UK Building Services Insurer EC Insurance Co.
Nov 29 2017 // Markel International, the specialist insurer, has completed its acquisition of EC Insurance Co. Ltd. (ECIC), having received approval from the Prudential Regulation Authority. Sevenoaks, England-based ECIC provides a wide...
State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy
Nov 28 2017 // Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31,...
Insurer Says Troubled Vermont Town Must Comply with Conditions
Nov 28 2017 // A Vermont organization that serves the state’s municipal governments says the town of Victory must comply with certain conditions of probation or lose its insurance. The Caledonian Record reports that the conditions...
Chubb Forms Partnership with China’s Largest P/C Insurer, PICC
Nov 27 2017 // Giant insurer Chubb Limited has entered into a 10-year strategic cooperation agreement with PICC Property & Casualty Company of China that will provide PICC’s customers and other Chinese-affiliated companies...
UK, Ireland’s Storm Ophelia to Cost Insurers an Estimated $70.1M: PERILS
Nov 27 2017 // Insurance losses for Storm Ophelia, which hit Ireland and the United Kingdom on Oct. 16-17, are estimated at €60 million (US$70.1 million), according to PERILS, the independent Zurich-based organization that provides...
Massachusetts SJC Issues Decision in Auto Insurance Dispute
Nov 27 2017 // The Supreme Judicial Court in Massachusetts (SJC) has answered a question regarding the priority of coverage for two automobile insurance policies covering a single motor vehicle accident. In its ruling, the SJC decided...
Slew of Republican Judicial Appointments Could Bode Well for D&O Insurers
Nov 27 2017 // Directors and officers (D&O) insurance has faced major losses in recent years, due in part, to what some call a significant increase in shareholder securities class action lawsuits. But a slew of new judicial...
Insurer Says Policy Doesn’t Cover Collapse of Mississippi Building
Nov 27 2017 // An insurer says it shouldn’t have to pay for the collapse of a building in a southwest Mississippi city. Hudson Specialty Insurance has sued in federal court in Natchez to nullify its policy, saying the policy was...
As Re/Insurers’ Results Are Hit, ‘Substantial’ Rate Hikes Expected: Swiss Re
Nov 22 2017 // Non-life re/insurers’ full-year underwriting results are likely to be severely impacted from the second half’s three hurricanes and earthquakes in Mexico, which will lead to rate hardening for non-life insurers...
Global Regulators’ Rethinking of Risk Assessment Welcomed by Large Insurers
Nov 21 2017 // Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could take a different...
UK P&I Insurer Chooses Dublin as EU Headquarters After Brexit
Nov 21 2017 // British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialized providers to opt for...
Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters
Nov 21 2017 // Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are...
China’s Ping An Is World’s 2nd Largest Insurer by Market Value After Berkshire
Nov 21 2017 // A surge in Ping An Insurance (Group) Co.’s shares this year has made it the world’s second-largest insurer by market value behind only Berkshire Hathaway Inc. And the rally may not be done yet. Shares of the...
Insurers Can Protect Ratings with Cautious Approach to Cyber Risk: Fitch
Nov 21 2017 // The influence of cyber risk on insurer ratings is likely to be neutral or gradual as long as insurers continue take a cautious approach to the business, according to Fitch Ratings. At its recent cyber conference in New...
Global Insurer Hiscox Hires Dorr in Massachusetts
Nov 21 2017 // Specialist global insurer Hiscox has appointed Glenn Dorr as head of business development and broker relationships for North America within its London market business. Dorr joins Hiscox from Lloyd’s USA, where he was...
Insurers Asked to Pay $90 Million to Settle Shareholder Claims Over Fox News Sexual Harassment
Nov 21 2017 // Twenty-First Century Fox Inc. has reached a $90 million settlement of shareholder claims arising from the sexual harassment scandal at its Fox News Channel, which cost the jobs of longtime news chief Roger Ailes and anchor...
