Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Bans Price Optimization; Insurers Question Definition
May 19 2015 // A memorandum released last week by Florida Insurance Commissioner Kevin McCarty warning insurers in the state not to use price optimization in rating has gotten cheers from a consumer advocate group and jeers from an...
A.M. Best: Middle Eastern Insurance Market Primed for M&As, Stakebuilding
May 18 2015 // Merger and acquisition (M&A) activity and stakebuilding is gaining momentum in the Middle East as financially strong and profitable insurers seek to deploy surplus capital to broaden their profiles and satisfy...
Insurers Get Ready to Comply With New Mississippi Property Insurance Clarity Act
May 18 2015 // Property insurers in Mississippi have until October 1, 2015 to respond to the Mississippi Insurance Department’s (MID) first call for homeowners’ insurance policy data that will be used to satisfy the...
Insurers Warn Against Encroachment on State Regulation
May 18 2015 // Insurance companies are calling for Congress to ensure state-based insurance regulation remains protected from federal or international “regulatory encroachment.” “Congress must now increase its oversight...
P/C Insurers Post Underwriting Profit, Record Surplus for 2014
May 18 2015 // The U.S. property/casualty insurance industry posted its second consecutive year of profitable underwriting results in 2014, according to A.M. Best. Surplus for this sector increased by $21.9 billion and reached another...
Wearable Devices in Insurance
May 18 2015 // Nearly two-thirds of insurers expect wearable technologies to have a significant impact on the industry. According to a survey in Accenture’s annual Technology Vision report, where more than 200 insurance executives...
Bitcoins: The Next Cyberinsurance Risk?
May 18 2015 // Consumers around the world are racking up more than 100,000 financial transactions every day without using cash, credit cards or a barter system. How are all those buyers doing it? With Bitcoins, of course. The growing use...
Cyber, Talent, Data Among Game Changers for Insurers
May 18 2015 // Protecting clients against growing and poorly understood risks associated with information technology system failures is a leading concern of the insurance industry today, according to a group of prominent underwriters and...
Texas Senate Passes Property Claim Litigation Bill
May 18 2015 // The Texas Senate on April 30 passed a bill aimed at stemming the onslaught of property claim litigation that has been occurring with increasing frequency in the state following natural catastrophes. Advocates of Senate...
Fracking, Earthquakes and Insurance: A Collision Course?
May 18 2015 // There is increasing information suggesting that hydraulic fracturing, commonly known as “fracking,” is not all it’s cracked up to be. While it is clear that the resurgence of oil and gas production in the...
When Dogs Bite, Home Insurers Pay Average $32,000
May 15 2015 // Max, Bella and their canine comrades cause more than one-third of all home insurance claims, adding $530 million a year to insurance costs. And while the number of claims is down, the cost of the average claim from dog...
ACE’s 10 Tips to Help Brokers Place Effective Multinational Insurance Programs
May 14 2015 // When ACE Group last month launched ACE Multinational Partner, a package cover for UK & Ireland-based companies with one or more overseas subsidiary, it discovered that brokers were concerned about lack of knowledge and...
Fitch Upgrades Citizens to ‘AA-‘, Outlook Stable
May 14 2015 // Fitch Ratings has upgraded the rating on the following senior secured bonds of the Citizens Property Insurance Corp., FL, PLA/CLA to ‘AA-‘ from ‘A+’: –$1.1 billion series 2012A-1; –$200...
Texas Construction Safety Group Gets $2.1M Dividend from Insurer
May 13 2015 // Workers compensation insurer, Texas Mutual Insurance Co., recently awarded a dividend of $2,159,751 to the Texas Construction Association safety group. The dividend was earned based on the group members’ dedication...
Richmond Insurance Agency of Kentucky joins Keystone Insurers Group
May 13 2015 // Keystone Insurers Group is continuing its expansion in Kentucky with the addition of a new franchise partner in Maysville. Richmond Insurance Agency of Kentucky is the 25th independent insurance agency in the state to join...
Florida Will Not Appeal Decision Favoring Deloitte in Poe Financial Collapse
May 12 2015 // The Florida Department of Financial Services (DFS) will not appeal the recent jury decision that found Deloitte & Touche not liable in the insolvency of Tampa-based Poe Financial Group following the unprecedented...
Swiss Re sigma Report Examines Role of Insurance in M&A Deals
May 12 2015 // A new sigma report –”M&A in insurance: start of a new wave?” – from Swiss Re points out that “merger and acquisition (M&A) activity in the insurance industry is rising although the number...
European Insurers’ Dividend Growth Unlikely With Rock-Bottom Interest Rates
May 11 2015 // Expectations of rising dividends and share buybacks from Europe’s insurance companies are fading as ultra low interest rates make it harder for them to meet new capital regulations. Rock-bottom interest rates reduce...
UK Regulator Asks Insurers to Provide Transparency on Coverage Costs
May 11 2015 // The UK’s financial regulator said insurance companies are not always providing clear information to consumers about whether it is cheaper to pay for coverage upfront or in installments. The Financial Conduct...
China’s Fosun Plans to Raise $1 Billion to Fund Insurance Industry Acquisitions
May 11 2015 // Fosun International Ltd., the Chinese conglomerate that’s been buying insurers and property overseas, plans to raise $1 billion partly to fund acquisitions in the insurance industry. The company will sell the shares...
