Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Canada’s Regulator Tightens Capital Requirements for Mortgage Insurers
Sep 23 2016 // Canada’s financial services regulator released new draft capital requirements for federally regulated mortgage insurers to better reflect growing risks in the country’s housing markets. The Office of the...
R&Q Acquires U.S. Sports Captive Insurer in Runoff
Sep 23 2016 // London’s Randall & Quilter Investment Holdings Ltd. said it has acquired United States Sports Insurance Co., a wholly owned captive insurer of USA Swimming Inc. for $2.1 million. The company being acquired was...
Lloyd’s Insurer Advent Names Gray as Direct & Facultative Property Consultant
Sep 23 2016 // Lloyd’s insurer Advent has appointed Jonathan Gray as consultant for its direct & facultative (D&F) property division. He takes up his role with immediate effect and will report to Nigel Fitzgerald, CEO. Gray...
Home Insurers, Agents Face Satisfaction Gap with Affluent Gen Y Customers
Sep 22 2016 // Overall, home insurers are performing better in customer satisfaction as they compete more on improving the customer experience than on price. However, there is one up-and-coming affluent consumer group — the Gen Y...
New MGA Verve to Target Liability Market for Insurance Agents, Insurers in U.S.
Sep 22 2016 // Newly-launched managing general agency Verve Risk Partners plans to target U.S. professional and management liability risks, focusing on insurance companies and captives as well as insurance agents and brokers. The...
Peer-to-Peer Personal Lines Insurer Lemonade Opens for Business in New York
Sep 21 2016 // Peer-to-peer insurance startup Lemonade is open for business in New York, nine months after the startup’s debut and initial venture funding announcement. The New York-based company, which its founders promise will...
CoverHound Small Business Commercial Suite Goes Live
Sep 21 2016 // Online personal insurance seller CoverHound is adding business insurance offerings— including workers’ compensation and commercial auto— to its online platform at CoverHound.com. The site is starting by focusing...
Metromile Auto Insurer Gets $192 Million, Mark Cuban and Mosaic’s 50 State Licenses
Sep 21 2016 // Fueled with $191.5 million from billionaire Mark Cuban and other investors, Metromile Inc. is now poised to complete its journey as a full-service car insurance company. The startup Wednesday said it had acquired Mosaic...
Stop Cutting Prices, Bank of England Warns Insurers
Sep 21 2016 // The London insurance market should not keep cutting prices to secure business because low interest rates mean investment earnings can no longer cushion poor underwriting, the Bank of England said. The key challenge for the...
Why Insurers Must Pick Up Their Technology Pace
Sep 20 2016 // The insurance industry is on the horns of a dilemma: how to use new technologies to improve their operations and how to insure the risks these new technologies present to their customers. The pace of technology is changing...
P/C Insurers’ Underwriting Loss Worsened in First Half
Sep 19 2016 // Catastrophes, lower favorable loss reserve development and challenging market conditions continued to pressure U.S. property/casualty insurers through the first half of the year, leading to an underwriting loss of...
Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports
Sep 19 2016 // The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the...
New York’s Attempt to Subject Surplus Lines Insurers to Insurance Franchise Tax
Sep 19 2016 // New York has increasingly asserted that unauthorized insurance companies — including surplus lines insurance companies — are subject to New York insurance franchise tax. However, there are several arguments...
New Technologies: A Double-Edged Sword for Insurance Companies
Sep 19 2016 // The insurance industry is on the horns of a dilemma: how to use new technologies to improve operations and how to insure the risks these new technologies present to customers. Situation The pace of technology is changing...
How Competition Brings Out E&S Market’s Creativity
Sep 19 2016 // Emerging risks or traditional lines, innovation makes the difference The surplus lines market is eyeing another year of solid results for 2015. At press time, the final figures for 2015 surplus lines had yet to be released...
September Earthquake Deemed Oklahoma’s Strongest on Record; Insured Costs Uncertain
Sep 19 2016 // An earthquake that hit Pawnee, Okla., in the north central part of the state on Sept. 3 was upgraded on Sept. 7 from the preliminary 5.6 magnitude estimate to a 5.8 magnitude temblor by the U.S. Geological Survey, making...
Florida’s First Hurricane in 11 Years ‘Could Have Been a Lot Worse’ for Industry
Sep 19 2016 // The 11-year hurricane drought in Florida is officially over. While preliminary damage estimates and claims are still trickling in from Hurricane Hermine, Florida’s first named hurricane since 2005, the consensus from...
Gamification in Insurance: Playing to Win
Sep 19 2016 // Among the many innovations happening in the insurance industry today, gamification is surely one of the more interesting. At the nexus of trends ranging from behavioral science and social networking to the Internet of...
Future Workers’ Compensation Profitability Faces Obstacles
Sep 19 2016 // Workers’ compensation, the largest product segment in the U.S. commercial lines insurance sector, has experienced a recent profit renaissance, moving to a significant underwriting profit in 2015. However, long-term...
Re/Insurers Need to ‘Reinvent’ Products to Participate in New Economy: XL’s McGavick
Sep 16 2016 // The re/insurance industry needs to innovate and become more efficient. It is facing more risk, but premiums are declining. Some of its products have become shop-worn and less relevant. Competitive pressures are...
