Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
California Commissioner High on Marijuana Insurance, Sums up Trump Battle
Oct 2 2017 // It’s David vs. Goliath. That about sums up California Insurance Commissioner Dave Jones’ feelings on his efforts to keep the remnants of Obamacare up and running in his state while President Trump does his best...
States Should Implement Stronger Safeguards for Consumers in Natural Disasters: Rutgers Report
Oct 2 2017 // As homeowners file insurance claims in the wake of Hurricanes Harvey and Irma, many could find their level of protection depends on the state where their damaged home is located, according to a research report released by...
Workers’ Comp Premiums Up 1.0% in First Half of 2017
Oct 2 2017 // Workers’ compensation insurers reported a modest increase in direct written premiums — a 1.0 percent increase — during the first six months of 2017 versus the same period in 2016. Workers’...
With Hurricane Losses Insurers Downgrade Anticipated Profit Goals
Oct 2 2017 // Allstate expects insurance losses of about $593 million for August mainly due to Hurricane Harvey, which left a path of destruction along the Gulf Coast. The initial accounting follows warnings from other insurers that are...
Canada’s Intact Financial Completes OneBeacon Acquisition; Vows to Grow Specialty Insurer
Sep 29 2017 // Intact Financial Corp. said it has completed its acquisition of U.S. specialty insurer OneBeacon Insurance Group from Bermuda-based White Mountains Insurance Group. The purchase price was C$2.3 billion (US$1.7...
Top Challenges for London’s Re/Insurers Are Soft Market, Brexit, Regulations: IUA
Sep 28 2017 // The top three challenges facing London market companies are the soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association (IUA) members. In an online questionnaire,...
EU Regulator Warns UK Insurers to Avoid ‘Fronting’ in Post-Brexit EU HQs
Sep 28 2017 // London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some...
A.M. Best Lowers Ratings for Transportation Insurer Canal Insurance of South Carolina
Sep 28 2017 // Canal Insurance Co., a family-owned insurer focused on commercial trucking and specialty transportation, is dealing with a ratings downgrade from A.M. Best. A.M. Best knocked down the A- (Excellent) financial strength...
Directors for Hawaii Workers’ Comp Insurer HEMIC Declare $3.5M Dividend
Sep 27 2017 // The board of directors of Hawaii Employers’ Mutual Insurance Company Inc. has declared a $3.5 million dividend payable to qualifying policyholders. This is $500,000 dollars more than HEMIC’s dividend last year,...
Texas Regulators Seek Data on Insurers’ Hurricane Harvey Claims
Sep 27 2017 // The Texas Department of Insurance has issued a mandatory data call to both admitted and surplus lines insurance carriers seeking information about Hurricane Harvey-related claims in 62 counties impacted by the storm. The...
Michigan Bill Would Cut Auto Premiums by 20%
Sep 27 2017 // Michigan drivers would no longer be required to buy unlimited medical insurance to cover serious crash injuries under legislation that high-ranking supporters proposed Tuesday to significantly reduce the country’s...
Saudi Decision to End Women’s Driving Ban Boosts Auto Insurers’ Shares
Sep 27 2017 // Saudi Arabia’s decision to end a driving ban for women is likely to save families billions of dollars, boost industries from car sales to insurance, and reassure investors that the kingdom’s push to diversify...
Workers’ Compensation Insurers Report Slow Growth: A.M. Best
Sep 27 2017 // The workers’ compensation industry reported a record high $58.5 billion in direct premiums written in 2016 but year-after-year growth slowed for the first time in five years. According to an A.M. Best report, the...
