Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
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...
