Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Puts Workers’ Comp Carrier Guarantee Insurance In Receivership
Nov 21 2017 // Florida insurance regulators have placed workers’ compensation carrier Guarantee Insurance Co. in receivership due to inadequate reserves. According to documents from the Florida Office of Insurance Regulation (OIR),...
Minnesota Settles with 13th Life Insurance Company Over Unpaid Claims
Nov 20 2017 // The Minnesota Commerce Department has reached a settlement agreement with a major life insurance company that owed money to Minnesotans for unpaid insurance policies, annuity contracts and retained asset accounts. The...
California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says
Nov 20 2017 // No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds...
Penn. Couple Suing Police, Insurance Company After Hibiscus Mistaken for Pot
Nov 20 2017 // A couple who say they were handcuffed for hours in a police patrol car after their hibiscus plants were confused for marijuana are suing the police and an insurance company. Edward and Audrey Cramer say in a lawsuit filed...
UK P&I Insurer North to Form Dublin Subsidiary as EU Post-Brexit Hub
Nov 20 2017 // British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to announce such a...
Recent Hurricanes Highlight the Need for Digital Transformation in Insurance
Nov 20 2017 // The claims for Hurricane Irma are starting to pour in and they’ll be big, $25 billion to $35 billion, forecaster AIR Worldwide says. The scenes of flooding, displaced people, wrecked homes and disrupted communities...
The Senior Care Market Still Going Strong
Nov 20 2017 // The aging U.S. population will create unprecedented demand for the senior living industry for decades to come and that opens the door for agents and brokers to grow their business in this sector. But understanding the...
A Storm of Claims Likely Following 2017 Hurricane Season
Nov 20 2017 // The aftermath of this year’s hurricanes includes massive reconstruction across the impacted areas, which in turn creates an increased possibility for construction defect claims that would affect the liability...
Vault E&S Approved as Surplus Lines Insurer in Arkansas
Nov 20 2017 // A new Arkansas-based surplus lines insurer has been approved to do business in the state, according to the Arkansas Insurance Department. Vault E&S Insurance Company has been granted authority to sell property,...
Grapes of Wrath: Insurance Fallout from the Wine Country Wildfires
Nov 20 2017 // Now that this October’s wine country fires have been contained, the ravaged San Francisco Bay area countryside can begin the rebuilding process. The effects of the wildfires, however, will be further reaching than...
Filing Approved for First Admitted Insurer in California to Sell Cannabis Insurance
Nov 20 2017 // The California insurance commissioner has approved the first filing by an admitted commercial insurance company to sell cannabis business insurance. Insurance Commissioner Dave Jones in early November announced the...
EU Wants Insurers to Plug Investment Gap, but Bank Partners Needed: Regulator
Nov 17 2017 // Efforts to get insurers to plug Europe’s investment gap by backing riskier assets could be undermined if banks are unwilling to share crucial credit data with them, a European Union insurance regulator said. EU...
EU Insurers Have Raised Their Exposure to Riskier Investments: EU Regulator
Nov 17 2017 // Insurance companies, in their search for yield, have increased their exposure to bonds with lower credit ratings and to less liquid securities like non-listed equities and loans, according to a survey by Europe’s...
How Consolidation Has Changed Crop Insurance Sector: Conning
Nov 17 2017 // Crop insurance was once a sector full of smaller players, but a mergers-and-acquisitions (M&A)-driven push for efficiency and scale has left it dominated by fewer and larger carriers, and analysts at Conning predict a...
UK Regulator’s Broker Probe May Make London Market More Competitive: Fitch
Nov 16 2017 // The UK Financial Conduct Authority’s review of the wholesale insurance broker market could help counter the trend of rising expenses for London market insurers, according to a Fitch Ratings briefing. This could make...
P&I Club Steamship Mutual Granted License to Operate as Insurer in Singapore
Nov 16 2017 // Steamship Mutual, the London-based protection and indemnity (P&I) club, announced it has been granted a license to operate as an insurer from its Singapore branch office. “This is a reflection of the club’s...
Europe’s Re/Insurers Cut Coal Investments by $20B; U.S. Firms Fail to Act: Report
Nov 16 2017 // Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken “meaningful action,” campaign group Unfriend Coal said on Wednesday. Government...
Insurers Urged to Catch Up with Risks of Fast-Growing 3-D Printing
Nov 16 2017 // Insurers are woefully behind in developing a coverage strategy for 3-D printing and stand to face liability problems if they don’t do so, an expert appearing at the PLUS 2017 conference in Atlanta said...
Insurers Had Crews Working in Heart of California Wildfires to Prevent Loss
Nov 15 2017 // “It was all hands on deck.” That apt description of the reaction to the deadly outbreak of wildfires that ravaged California in October was from Stephen Poux, global head of risk management and loss prevention...
Apax, Carlyle Reported Among Bidders for Indian Insurer Royal Sundaram
Nov 15 2017 // Apax Partners and Carlyle Group LP are among suitors weighing bids for a stake in Indian insurer Royal Sundaram General Insurance Co., people with knowledge of the matter said. The unit of Mumbai-listed Sundaram Finance...
