Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
State Farm Reports Investments Overcame Underwriting Loss in 2015
Feb 28 2016 // State Farm Mutual Automobile Insurance Co., the largest U.S. property/casualty insurer, said 2015 profit rose 48 percent on investment gains tied to pharmaceutical holdings. Net income increased to $6.2 billion from $4.2...
Keystone Insurers Group Adds 3 Missouri Agencies
Feb 26 2016 // Keystone Insurers Group announced it has added three new partners in Missouri: Scott Agency of Montgomery City, Harrison Agency of Columbia and Anderson & Green Insurance Agency of Sikeston. Harrison Agency was...
Canada’s Fairfax Financial to Raise $536.4M to Fund Larger Stakes in 2 Insurers
Feb 23 2016 // Fairfax Financial Holdings said on Monday it plans to raise C$735 million ($536.42 million) through an equity issuance, to fund its acquisition of interests in Eurolife ERB Insurance Group Holdings and ICICI Lombard...
Safety National Forms Safety Specialty Insurance Company
Feb 22 2016 // Safety National Casualty Corporation has acquired an excess and surplus company that will begin operations in March 2016 as Safety Specialty Insurance Company (SSIC). Safety Specialty will initially focus on complementing...
Michigan’s Inadvertent Tax Break for Car Insurers Targeted for Repeal
Feb 22 2016 // Gov. Rick Snyder and lawmakers inadvertently gave auto insurers a tax break worth $80 million a year. Now, they want to end it _ either to bail out Detroit’s state-managed school district or to address other...
Arizona House Passes Accelerated Insurance Company Tax Cut
Feb 22 2016 // The Republican-controlled Arizona House has passed a bill accelerating the phase-in of insurance company tax cuts they passed last year. House Bill 2002 is sponsored by House Republican Majority Whip David Livingston. He...
Oklahoma Ponders ‘California Model’ for Earthquake Insurance
Feb 22 2016 // Oklahoma lawmakers are in the early stages of considering legislation to create a state-level “earthquake reinsurance program” that its author claims will be modeled on the California Earthquake Authority. S.B....
Delaware Licensed 189 Captives in 2015
Feb 22 2016 // Delaware Insurance Commissioner Karen Weldin Stewart said 2015 marked another record year of captive insurance formations in Delaware. Stewart said Delaware last year licensed 74 pure captive insurers, three special...
Oklahoma Files Suit Against Directors, Officers of Failed Insurer, Red Rock
Feb 22 2016 // Oklahoma insurance regulators have filed suit against two New York financiers who took control of a failed Oklahoma insurance company, saying the pair and others infused it with allegedly worthless assets and used it as a...
P/C Direct Premium Written Up 4.2 Percent
Feb 22 2016 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually, according to a Demotech analysis. At year-end 2014, more than $570 billion of DPW was reported, a record-high...
3 Examples of How Telematics Can Aid Insurance Claims Handling
Feb 19 2016 // While information derived from usage based insurance telematics hasn’t been fully utilized in the claims process, the benefits it can provide – consistency, efficiency and accuracy – offer a way to reduce claims...
Philadelphia Insurance Companies Promotes 2 to Senior VP
Feb 19 2016 // Philadelphia Insurance Companies, a commercial property/casualty and professional liability insurance company for niche markets, announced the promotion of two vice presidents to senior vice president. Sam Garro is now...
How Employer Joint Liability Is Changing
Feb 18 2016 // Businesses known for their uniforms are worried about lawyers in business suits in the wake of a change in the nation’s labor laws affecting their liability for employment practices. The change could unravel the...
Location, Inc. Launches Structure Fire Risk Index for Insurers
Feb 18 2016 // Location, Inc., a provider of location-based data and tools used by corporations for risk analysis, has introduced a new risk index to help insurers address structure fire losses due to human negligence. Insurers often...
Texas to Insurers: 2015 Policy Count Data Due March 1
Feb 17 2016 // The date for licensed insurance carriers, surplus lines companies and health maintenance organizations to submit policy count data for 2015 is approaching. Texas Department of Insurance is required by the state insurance...
Aon Loss Model Offers Insurers 7.5 Million U.S. Thunderstorm Scenarios
Feb 17 2016 // Aon Benfield’s catastrophe model development team, Impact Forecasting, has launched a U.S. severe thunderstorm (STS) scenario model that it says can help insurers more accurately estimate annual losses based on...
Canada’s Intact Financial Corp. Invests in Metromile, Pay-Per-Mile Insurer
Feb 17 2016 // Intact Financial Corp. has made a strategic investment in Metromile, a San Francisco-based provider of pay-per-mile car insurance. Toronto-based IFC, which is the largest provider of property & casualty insurance in...
Minnesota: Exams of 16 Life Insurers Find $174M in Unpaid Benefits, So Far
Feb 16 2016 // Minnesota Commerce Commissioner Mike Rothman announced that his department has reached settlement agreements with three more life insurance companies that owed money to Minnesotans for unpaid insurance policies, annuity...
Delaware Licensed 189 Captive Entities in 2015
Feb 12 2016 // Delaware Insurance Commissioner Karen Weldin Stewart said 2015 marked another record year of captive insurance formations in Delaware. Stewart said Delaware last year licensed 74 pure captive insurers, three special...
New York-Based Insurer Says U.S. Has Lifted Sanctions for Iranian Oil Cargoes
Feb 12 2016 // A U.S.-based insurer to the global shipping industry said it got government authorization to cover non-American companies transporting oil from Iran, potentially helping the Persian Gulf country to revive exports of crude...
