Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
South Dakota Bill Would Make Insurer Tax-Credit Program More Transparent
Jan 30 2017 // A group of South Dakota lawmakers has introduced a bill that would require certain information from the state-subsidized insurance company tax credit program for scholarships be made public. The tax credit scholarship...
P/C Insurers Enroute to Posting Underwriting Loss for 2016: A.M. Best
Jan 30 2017 // The U.S. property/casualty industry will likely post a small underwriting loss for 2016 after three previous years of underwriting profits, A.M. Best said in a new report. A.M. Best’s report appears in line with a...
How State Insurance Regulators May Help Insurers Innovate
Jan 30 2017 // Three days before the inauguration of President Donald Trump last week, a panel of experts on insurance regulation predicted that state and federal regulators of the financial services sector would refocus their efforts in...
Insurance Industry Rethinking Recruitment Strategies
Jan 27 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, its incumbent on carriers to consider the ways in which...
Main Street America Expands New Personal Auto Program Into 3 Eastern States
Jan 27 2017 // The Main Street America Group has expanded Main Street Protection Auto, its new private passenger auto insurance program for the preferred/standard marketplace, into three additional states, including New York, as well as...
French Insurers & Bankers Aim to Beef Up Fintech Investments
Jan 27 2017 // After years of lagging behind London on spawning financial technology startups, Paris this week hosted a show of force aimed at proving the French capital can catch up as more than 1,500 bankers, investors and...
NAIC Leader Says Insurer Systemic Risk Process Is Unnecessary
Jan 26 2017 // Although the Financial Stability Oversight Council created by the Dodd–Frank Wall Street Reform Act could serve an incredibly useful purpose, FSOC’s activities so far have been misguided, an insurance regulator...
Pennsylvania Insurance Commissioner to Chair National Task Force on Senior Issues
Jan 26 2017 // Pennsylvania Insurance Commissioner Teresa Miller will chair a task force as part of the National Association of Insurance Commissioners (NAIC) that will examine issues that impact senior insurance consumers. Commissioner...
CEO and President of E&S Carrier Takes Flight Across The Country to Meet With Agents and Brokers
Jan 26 2017 // Chicago and Salt Lake City, January 26, 2017- Nothing stands between Rick J. Lindsey, CEO, Chairman and President of Prime Insurance Company, and the great agents and brokers of this country. Starting Monday, February 6,...
P/C Insurers Fell to $1.7 Billion Underwriting Loss in First 9 Months of 2016
Jan 25 2017 // For private U.S. property/casualty insurers, the first nine months of 2016 were markedly worse than the same period in 2015, due to higher catastrophe losses and less favorable reserve development. The period produced a...
Insurers Back Arizona Bill Cutting Required Auto Glass Coverage
Jan 24 2017 // Rock-shattered windshields are such a common occurrence on Arizona roads that insurance companies have long been required to replace broken glass for free to drivers with full coverage policies. It ends up being a big...
California Insurance Commissioner Prevails in Insurance Industry’s Legal Challenge
Jan 24 2017 // In a 7-0 decision, the California Supreme Court has affirmed the authority of Insurance Commissioner Dave Jones in a legal challenge brought by the insurance industry, the California Department of Insurance...
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...
