Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Indian Insurer ICICI Lombard Hopes to Raise $892 Million with IPO
Sep 8 2017 // ICICI Lombard General Insurance Co Ltd’s initial public offering of shares opening next week aims to raise up to 57 billion rupees ($892 million), the latest listing in what is expected to be a record-setting year...
HDI Launches Cyber Coverage for Manufacturing Companies
Sep 8 2017 // International insurer HDI Global Insurance Company (HDI) has introduced a new cyber product, Cyber+ Smart, designed to support the manufacturing sector. Cyber+ Smart is designed for U.S. enterprises with annual revenues of...
Markel to Acquire UK Building Services Insurer EC Insurance Co.
Sep 7 2017 // Markel International, the London-based specialist insurer and Markel Corp. subsidiary, plans to acquire the business of EC Insurance Co. Ltd. (ECIC). Sevenoaks, England-based ECIC, whose ultimate parent is the Electrical...
Update: Insurance Industry Preparation for Hurricane Irma in Full Swing in Florida
Sep 7 2017 // Source: National Hurricane Center Insurers are taking no chances in preparing for Hurricane Irma as the powerful category 5 storm slogs its way through the Caribbean, devastating the communities left in its wake on its...
Some Insurers Stop Writing Policies on New Cars in Florida, Car Dealers Say
Sep 7 2017 // Insurers including Progressive Corp. and Allstate Corp. have stopped issuing policies on new cars in certain Florida counties, hindering vehicle sales days before Hurricane Irma is forecast to hit the state. The companies...
Here’s What a Category 5 Hurricane Could Do to Florida
Sep 7 2017 // Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, but the risk of such a storm has not gone away or even declined. In fact, the state’s risk of...
As Irma Looms, This Small Insurer Has an Outsized Bet on Florida
Sep 7 2017 // As Hurricane Irma edges closer to Florida, investors on Wall Street are watching a small insurer with an unusually big commitment to the state. Universal Insurance Holdings Inc., with a market capitalization dwarfed by...
No Duty to Defend in Ohio Molestation Claim Unless ‘Scope of the Allegations’ Test Met
Sep 6 2017 // Jodee Edwards had a home and auto insurance policy issued by insurer Encompass that excluded coverage for loss “arising out of sexual molestation, corporal punishment, or physical or mental abuse.” Edwards was...
First Harvey Lawsuit Filed to Beat New Texas Tort Reform Law
Sep 6 2017 // Late in the afternoon on Aug. 31, a Dallas law firm filed a lawsuit to circumvent a new Texas law that went into effect on Friday, Sept. 1. The newly passed law, HB1774, was meant to curb hail lawsuit abuse, but after...
Florida’s Private Flood Insurers Could Face Big Test from Hurricane Irma
Sep 6 2017 // Hurricane Irma could test a nascent private flood insurance market in Florida that some advocates say is a model for making U.S. flood coverage more affordable and commonplace in high-risk areas. Florida’s private...
Florida Insurers’ Shares Tumble as Irma Threatens
Sep 6 2017 // Shares of Florida home insurers, including Heritage Insurance Holdings, tumbled on Tuesday and many extended losses later in the day as Hurricane Irma appeared set to hit Florida on Saturday, causing investors to brace for...
Asia’s Ride-Hailing Firms Compete with Banks – and Ultimately Insurers: Opinion
Sep 5 2017 // In Southeast Asia, mobile banking is taking on a whole new meaning. Last week, Grab, one of the region’s top ride-hailing companies, announced that users of its app can start sending credits — used to pay for...
Hurricane Harvey Puts Pressure on Regional Insurers in Texas, Says A.M. Best
Sep 5 2017 // Losses anticipated from Hurricane Harvey are unlikely to exceed the top reinsurance limits of insurers writing business in Texas, according to new Best’s Special Report, titled, “Texas Insurers Expected to...
Report: Written Premiums for California Comp Insurers to Be Flat Through 2017
Sep 4 2017 // Written premiums from workers’ compensation insurers in California for the year are expected to be flat at $18.1 billion compared with 2016 thanks largely to rate decreases, according to analysts with the...
The Competitive Advantage: Let’s Eradicate Incompetency
Sep 4 2017 // I recently wrote an article describing my horrendous experience purchasing a new life insurance policy. I criticized the industry for employing incompetent people and egregious renewal offers. Several readers rose to...
Breaking the Silence: Cyber Physical Cat Models Emerging
Sep 4 2017 // A frightened truck driver dodging a barrage of bullets fired from the assault rifles of a drug-smuggling criminal gang doesn’t seem like the obvious description of the final stages of a cyber attack. But the...
P/C Insurers Lost $5.1B on Underwriting in First Half of 2017
Sep 4 2017 // The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the same period a year...
2 Nebraska Contractors Have Sued Insurers More than 100 Times
Sep 4 2017 // Two Omaha contractors are expanding a legal strategy they say forces insurance companies to pay for storm damage, but industry officials say the practice leads to exaggerated claims and may drive away insurers. Home repair...
Illinois Governor Vetoes Workers’ Comp Bills Opposed by Insurers
Sep 4 2017 // Illinois Gov. Bruce Rauner has vetoed two workers’ compensation reform bills that were strongly opposed by the insurance industry. Rauner in August vetoed HB 2622 and HB2525, two bills that would have had profound...
Florida Domestic Insurer Sawgrass Mutual to ‘Wind Down’ Operations
Sep 4 2017 // Just after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company revealed it was placed under administrative supervision by the Florida Office of Insurance...
