Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
A.M. Best Revises Outlook to Positive for Insurance Company of the West
Oct 6 2017 // A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Insurance Company of the West and its...
Head of Texas’ Harvey Recovery Effort Says Agents Need to ‘Step Up’ on Damage Claims
Oct 6 2017 // The insurance industry in Texas is not happy with the state’s so-called Hurricane Harvey recovery czar. Texas A&M University Chancellor John Sharp, who was named by Gov. Greg Abbott to lead the Commission to...
Buffett’s Berkshire to Buy 9% Stake in Italian Insurer Cattolica
Oct 6 2017 // Warren Buffett is expanding his wager on Italy. The billionaire’s Berkshire Hathaway Inc. said Thursday it agreed to buy about 9 percent of Italian insurer Societa Cattolica di Assicurazioni Scrl from Banca Popolare...
P/C Insurer Software Provider Guidewire to Acquire Data Science Firm Cyence
Oct 6 2017 // Guidewire Software Inc., a provider of core operations software to property/casualty insurers, has agreed to acquire Cyence, a data science and risk analytics software company. Guidewire will pay approximately $275 million...
Insurers to Crack Down on Illegal Fishing by Denying Coverage
Oct 6 2017 // A coalition of insurance firms agreed on Friday to crack down on pirate fishing by banning coverage for trawlers whose illegal catches are worth at least $10 billion a year. Firms would deny insurance for vessels on a...
Crowdsourced Insurer Rater Clearsurance Raises $4 Million
Oct 6 2017 // Clearsurance, a crowdsourced review, rating and educational platform for the insurance industry, has raised $4 million in a Series A funding round. The round was led by its co-founder, Michael Crowe, and includes Davis...
Penn. Supreme Court Says Malice Not Required to Win Bad Faith Claims
Oct 5 2017 // The Pennsylvania Supreme Court unanimously affirmed a decision by the state’s Superior Court that although ill-will or malice is one factor that can be used to assess insurer bad faith, it is not a prerequisite for...
Dutch Insurers & Banks Warned to Account for Risks of Climate Change
Oct 5 2017 // Banks, insurers, and other financial institutions must do more to take into account the risks posed by climate change to their business, a Dutch Central Bank study said. As global warming increases the risk of extreme...
Get Very Used to Drone Usage in the Insurance Industry
Oct 4 2017 // One major insurance carrier already has a program underway to train claims adjusters to visit accident sites and fly drones to gather data. American Family Insurance started working on developing a drone program around...
If You Don’t Tell Your Story, Someone Else Will
Oct 4 2017 // I have to be a little transparent today. I’ve struggled with writing. I normally have this post written by mid day on Monday, read over it again on Tuesday, and uploaded to the site for publishing first thing...
Why the Insurance Industry Needs a Toothbrush and Other Notes from Record-Breaking InsureTech Connect Conference
Oct 4 2017 // Insurance company employees wondering where all their bosses are this week should not be worried. It’s a good bet the executives are safe in Las Vegas at the second annual InsureTech Connect Conference. More than...
Oklahoma Emergency Care Provider Will Take Insurer to Court over Legal Fees
Oct 3 2017 // An emergency medical care provider in Oklahoma has authorized its attorneys to take a liability insurance company to court if needed to force the business to pay a claim aimed at covering legal costs. Emergency Medical...
Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
Oct 3 2017 // Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case...
UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes
Oct 3 2017 // Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit...
Everest Re Gets Nod to Launch Irish Insurer for EU Business; Aon’s Cross Is CEO
Oct 3 2017 // Everest Re Group Ltd. announced today that its Dublin-based subsidiary has been granted authorization in principle by the Central Bank of Ireland to operate as an authorized non-life insurer in Ireland. This entity, to be...
Mississippi City Wants Insurer to Pay Up for Building Collapse Clean Up
Oct 3 2017 // A southwest Mississippi city is trying to get paid for $370,000 it’s spent cleaning up a building that collapsed July 23. McComb city attorney Wayne Dowdy tells the Board of Selectmen that the building’s owner...
Hudson Taps Atlanta-Based Moreman to Establish Subcontractor Default Business
Oct 3 2017 // Hudson Insurance Group has added Wallace Moreman as senior vice president. In this new position, Moreman will establish a subcontractor default insurance (SDI) business for Hudson. Christopher Gallagher, president and CEO...
Blockchain Industry Initiative, B3i, Expands with 23 New Broker, Re/Insurer Entrants
Oct 2 2017 // The Blockchain Insurance Industry Initiative B3i announced it has expanded with 23 new brokers and re/insurers entrants, which will help with B3i’s upcoming market testing program. B3i’s new entrants are: AIA,...
New Association for Insurance Agency Networks Forming
Oct 2 2017 // An insurance industry lender is among those touting a new association for insurance agency networks. The lender, Live Oak Bancshares Inc., says it will not have ownership in the new group, Insurance Networks Alliance...
Indiana’s AG, 37 Others Urge Insurers to Help Fight Opioid Crisis
Oct 2 2017 // Indiana Attorney General Curtis Hill has joined a coalition of 37 states and territories urging health insurance companies to examine financial incentives that contribute to the opioid crisis. The bipartisan coalition is...
