Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. Reports Auto Insurance Unaffordable for Millions; Insurers Call Report ‘Ill-Conceived and Unnecessary’
Jan 24 2017 // Nearly 19 million Americans live in areas where auto insurance is unaffordable including a large number in the New York region, according to a first-of-its kind study by the U.S. Treasury Department. The study, conducted...
Private Equity Returns Boost Travelers Q4 Profit
Jan 24 2017 // Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit jumped 8.9 percent as investment income improved and the company recorded a gain tied to the settlement of...
Top 25 Insurers: P/C Direct Premium Written Up 3.9 Percent
Jan 23 2017 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2015, approximately $585 billion of DPW was reported, a record-high for the industry. For 2015,...
Internet of Things and More Tech Risks in 2017
Jan 23 2017 // Insurers and customers alike are increasingly embracing the Internet of Things (IoT) for underwriting purposes and general, daily life. The thing is, greater reliance on this type of technology could create problems that...
New York Issues First-in-Nation Regulation on Commercial Crime Insurance
Jan 23 2017 // New York State’s Department of Financial Services (DFS) in December issued a new regulation that prohibits insurance companies from denying commercial crime insurance coverage to New York businesses employing people...
Illinois Workers’ Comp Reform Proposal the Wrong Approach: Insurer Groups
Jan 23 2017 // Insurance industry lobbying groups have spoken out against a proposed amendment to an Illinois statute that would give insurance regulators in that state more control over workers’ compensation rates. Illinois House...
Massachusetts Court Reminds Auto Insurers of Importance of Retail Book Value
Jan 20 2017 // A Massachusetts appeals court used a recent case to warn auto insurers that it is important to take retail book value into consideration early in the settlement process. While the court ruled in favor of defendant...
Brexit Cost Implications to Weigh on UK Re/Insurers: A.M. Best Report
Jan 20 2017 // The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating...
Trade Group: Workers’ Comp Reform Among Key Issues for Illinois Insurers
Jan 19 2017 // Workers’ compensation, commercial insurance purchasing rules and auto insurance verification are among key challenges for insurers in Illinois legislative session, a national insurance trade organization...
Ratings Outlook for GuideOne Insurance Revised to Negative: A.M. Best
Jan 19 2017 // A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of the members of the...
Bluetooth Toothbrushes, Telematics, Fitbits and Data Tracking Acceptance
Jan 19 2017 // Twice a day, Scott Ozawa’s Bluetooth-enabled toothbrush tells his dental insurer if he brushed for a full two minutes. In return, the 41-year-old software engineer gets free brush heads and the employer which bought...
Expect the Unexpected in U.S. Casualty Insurance Market in 2017: Marsh
Jan 19 2017 // Insurers and customers are increasingly embracing the Internet of Things but greater reliance on these technologies could bring problems that ripple through an entire connected system. The unintended consequences from...
California’s Climate Risk Database Calls Out Insurer Carbon Investments
Jan 18 2017 // A new interactive database with extensive information on insurer investments in fossil fuels was unveiled today by California Insurance Commissioner Dave Jones. Jones released the results of his Climate Risk Carbon...
Seizing Today’s Program Business Opportunities
Jan 18 2017 // Today’s program administrators continue to face plenty of challenges, including increased competition, high merger and acquisition activity, market pressures for more creative options, and other issues. Those...
Global Marine Insurers Develop Coverage Options for Iran Oil Exports
Jan 17 2017 // Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from next month after striking a deal to provide cover without involving U.S.-domiciled reinsurers, officials in Tokyo and...
U.S. and EU Reach Agreement on Insurance Regulation
Jan 13 2017 // United States and European Union negotiators say they have reached an agreement on reinsurance and insurance regulation. The agreement covers three areas of insurance oversight: reinsurance, group supervision and the...
Main Street America Promotes Kusch to EVP, Insurance Operations
Jan 12 2017 // The Main Street America Group announced Jeff Kusch, who has led the company’s field sales function for the past two years, has been promoted to executive vice president, insurance operations. In addition to...
Insurers Object to Workers’ Comp Reform Proposal in Illinois
Jan 11 2017 // Insurance industry lobbying groups are speaking out against a proposed amendment to an Illinois statute that would give insurance regulators in that state more control over workers’ compensation rates. Illinois House...
India to Open High-Tech Financial Hub for Banks, Insurers
Jan 10 2017 // Prime Minister Narendra Modi is set to inaugurate an international exchange in Gujarat state’s new finance zone, seeking to grab some of India’s $48 billion in offshore banking activities from Singapore, Dubai...
Today’s Insurance Agency E&O Costs, Coverage and Claims
Jan 10 2017 // Independent agency owners spend their entire careers worrying about the risks and exposures of others. Managing the risks of their own agencies can take a backseat to helping their clients. While agents appreciate the...
