Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
South Dakota Lawmakers Reject Insurer Tax Credit Disclosure
Feb 13 2017 // South Dakota lawmakers have rejected a bill that was meant to increase transparency in the state’s school choice scholarship program. The bill, voted down 9-6 in the House Education Committee, would have required...
Nat Cats Cost Insurers $39.5B in 2016, Highest Level in 4 Years: Willis Re
Feb 10 2017 // Insured loss estimates from major natural catastrophes totaled US$39.5 billion during 2016, which is the highest level since 2012 when market losses totaled US$60 billion, according to a report published by Willis Re, the...
Prem Watsa’s Fairfax to Pay $144M for New Zealand-Based Insurer
Feb 10 2017 // Fairfax Financial Holdings Ltd. will pay $144 million for New Zealand insurer Tower Ltd., giving it an instant, significant presence in a growing, emerging market. Tower’s board of directors has already unanimously...
Health Insurers Weigh Next Moves After Striking Out on Mergers
Feb 10 2017 // After 18 months of courtship and court cases, two massive deals that would have reshaped the U.S. health insurance industry have both been declared dead, blocked by judges who said they’d do unacceptable harm to...
Florida’s AOB Abuse by the Numbers: ‘Alarming Trend’ Reaches Crisis Point
Feb 9 2017 // Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from...
Severe U.S. Weather During January Cost Insurers More Than $1B: Aon
Feb 9 2017 // Major weather and flood events in the U.S. during January will cost the insurance industry more than $1 billion as tornadoes hit a 17-year high, according a report published by Impact Forecasting, Aon Benfield’s...
China Regulator Urges Insurers to Avoid ‘Reckless’ Offshore Investments: Report
Feb 9 2017 // A senior Chinese insurance regulator warned against the industry’s reckless overseas investment, saying some insurers behaved recklessly when it came to offshore acquisitions, the official Securities Times reported...
Why the Insurance Industry Supports and Hires Veterans
Feb 8 2017 // Many property/casualty insurance carriers have focused their charitable efforts on veterans, and they’ve done so for a number of good reasons. One important reason for adopting veterans causes was explained by Glenn...
Demotech Suspends Florida Insurer Rating Criteria; Says Downgrades Coming
Feb 7 2017 // Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers...
Ups Beat Downs in P/C Insurer Credit Ratings in 2016: A.M. Best
Feb 7 2017 // Credit rating activity in 2016 turned positive as upgrades outpaced downgrades for the U.S. property/casualty industry, despite insurers having to face pressure on underwriting results and a low investment yield...
Correction: Mass. Court Reviews Assessment of Damages Against Insurer in Shuttle Bus Accident Case
Feb 7 2017 // The Supreme Judicial Court in Massachusetts has ruled that post-judgment interest is not included in any enhanced damages in connection with damages that have already been awarded under the Massachusetts Consumer...
Brazil Healthcare Insurer Intermédica Prepares for IPO: Sources
Feb 7 2017 // Brazilian healthcare services provider NotreDame Intermédica Sistema de Saude SA has hired banks to manage its initial public offering, which could be launched with a series of investor meetings as early as this week, two...
Group in Oregon City Is Suing Its Carrier over a Fire Payout
Feb 6 2017 // The Eugene Civic Alliance in Oregon has sued its insurance carrier for more than $325,000 after the burning of Civic Stadium. The Register-Guard reported that the nonprofit group wants to build a new complex on the former...
Massachusetts Court Reminds Auto Insurers of Importance of Retail Book Value
Feb 6 2017 // A Massachusetts appeals court used a recent case to warn auto insurers about the importance of taking retail book value into consideration early in the settlement process. While the court ruled in favor of defendant...
S&P: P/C Insurers Could See Potholes in 2017 as Earnings Outlook ‘Isn’t Too Pretty’
Feb 6 2017 // This year will be a turning point for the U.S. property/casualty (P/C) insurance sector, as rising claims outpace pricing and reserve releases materially decrease. But it will not be a “softer for longer” rate...
Insurers Look to M&As to Digitalize Distribution
Feb 6 2017 // Almost three-quarters of global insurers believe their sector has failed to show leadership in digital innovation and an increasing number now regard investment and acquisitions in digitalization a priority to improve...
Tow Truck Market Gets Hit Hard as Carriers Exit Market
Feb 6 2017 // Tow truck drivers operate in a dangerous world. Every day they face angry drivers while repossessing vehicles, dangerous driving and road conditions, near misses while operating heavy equipment, and close calls on U.S....
Insurance Career Month: Why Industry Must Rethink Recruitment Strategies
Feb 6 2017 // With nearly 400,000 employees expected to retire from the insurance industry workforce within the next few years, according to the U.S. Bureau of Labor Statistics, it’s incumbent on carriers to consider the ways in...
Opinion: The Insurance Industry’s Image Problem & How They Can Fix It
Feb 3 2017 // The insurance industry has an image problem. That is probably not really breaking news to anyone reading this, but it’s an important topic to discuss and one the industry can address and, believe it or not, an issue...
Allianz Has $3.2B to Spend on M&A, but ‘Disciplined’ Approach Is Needed
Feb 3 2017 // Allianz SE Chief Executive Officer Oliver Baete has 3 billion euros ($3.2 billion) to spend on acquisitions and is scouting for targets from Australia to Italy. Rushing into a deal would be a mistake, according to some...
