Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Court: Insurer GEICO Must Pay Injured Kansas Man for Care Provided by Wife
Jan 24 2020 // An insurance company must reimburse a Kansas man for the personal care his wife provided after he was injured in an automobile accident, the state Supreme Court ruled in rejecting that spouses are required to provide such...
New Laws Spur Insurers to Reserve for Potential Child Sex-Abuse Claims
Jan 24 2020 // Travelers Companies Inc. has set aside a “modest” amount of additional money to cover its possible exposure to child sex-abuse claims, the insurer’s finance chief, Daniel Frey, told analysts during an...
Ratings Agencies Disagree Over Financial Strength of Florida Family Insurance Co.
Jan 23 2020 // The credit ratings of homeowners insurer Florida Family Insurance Co. and its subsidiary, Florida Family Home Insurance Co., have been downgraded by AM Best due to a deterioration in underwriting results for the insurer....
State of Insurance Agency E&O Insurance Market: Managing Rates and Risks
Jan 23 2020 // Agency errors and omissions (E&O) coverage is likely the most important insurance policy an agency purchases. As customer demands rise to an all-time high, having the right E&O coverage and ensuring best practices...
North Carolina Captive Insurance Program Continued Growth in 2019
Jan 22 2020 // The North Carolina Department of Insurance Captive Insurance Program continued its steady growth in 2019, according to a statement from NCDOI. As of Dec. 31, 2019, NCDOI had licensed (including provisional) 318 captive...
Insurtech Firm CyberCube Calls on Insurers to Set Global Cyber-Security Standards
Jan 22 2020 // CyberCube, an insurtech focused on cyber risk analytics, is calling on the insurance industry to set global cyber-security standards as the world digitizes. “Internet-connected technologies is a prime opportunity for...
Starr Insurance Companies Appoints Murphy as Southeast Regional VP
Jan 22 2020 // Starr Insurance Companies has appointed Kathleen Murphy as regional vice president, Southeast Region, effective January 13. Murphy is responsible for field leadership as well as broker and client relationships. According...
Washington Commissioner Orders Pet Insurers to Repay $4.7M to Consumers
Jan 21 2020 // Washington Insurance Commissioner Mike Kreidler issued a fine of $950,000 against ACE American Insurance Co. and Indemnity Insurance Co. of North America for reportedly overcharging 18,000 Washington consumers for nearly...
P/C Insurers Boosted Underwriting Profit, Surplus in 2019’s First 9 Months
Jan 17 2020 // The private U.S. property/casualty insurance industry saw its net underwriting gains increase to $5.4 billion in the first nine months of 2019 from $4.7 billion a year earlier, bolstered by growth in premiums and a drop in...
Liberty Mutual’s Irish Insurer Exits Several Lines Including Commercial Liability, Property
Jan 17 2020 // Liberty Insurance, the Irish subsidiary of Liberty Mutual Insurance Group, is exiting its commercial liability, commercial property and development bonds lines of business. Liberty will continue to provide services and...
Indonesia Takes Action to Rescue State Insurers, Potentially Raising Funds
Jan 17 2020 // Indonesia will appoint state financial firm PT Bahana Pembinaan Usaha Indonesia as a holding company for state insurers to improve their finances, a deputy minister said on Thursday, as the government puts together a...
U.K. P&C Insurers Face Strong Competition, Claims Inflation: AM Best Report
Jan 16 2020 // Market conditions for U.K. non-life insurers were difficult in 2019 as they continued to face strong competition and claims inflation, according to a report published by AM Best. Companies have had to contend with changes...
Gemini, Seeing Insurance As Key to Future of Virtual Currency, Starts Own Captive
Jan 16 2020 // U.S. virtual currency firm Gemini Trust Company announced on Thursday that it has launched its own insurance unit to boost coverage against theft of crypto assets. Gemini’s new in-house insurer, Bermuda-based...
China’s Fosun Considers Sale of German Insurer Frankfurter Leben: Sources
Jan 16 2020 // Chinese conglomerate Fosun International Ltd. is exploring options including a potential sale for its German insurance business Frankfurter Leben Holding GmbH, people with knowledge of the matter said. Fosun has held talks...
Florida Legislative Session 2020: Insurance Bills to Watch
Jan 16 2020 // The Florida insurance industry will be focused on several key issues this session, including reform for auto glass (windshield) assignment of benefits (AOB) abuse, reforms to the state’s legal system, as well as...
Florida Legislative Preview 2020: Industry Calls On Lawmakers to Reform Lawsuit Abuse
Jan 16 2020 // The Florida Legislature started its 2020 legislative session this week and lawmakers are set to consider a number of insurance-focused issues over the course of the 60-day period. At the top of the list for industry and...
What the New U.S.-China Trade Agreement Says on Insurance
Jan 15 2020 // President Donald Trump and Chinese Vice Premier Liu He signed an economic and trade agreement that promises to increase the agricultural and other goods and services China will buy from the U.S. by $200 billion. For its...
Expanding into Iowa, Keystone Insurers Group Signs Kingsgate Insurance
Jan 15 2020 // Keystone Insurers Group (Keystone) has expanded into Iowa with the addition of pioneer partner Kingsgate Insurance of Fort Dodge to the agency partnership organization. Kingsgate Insurance was founded in 1990 in Fort...
HCI to Acquire Policies of Florida’s Anchor P&C; Weston to Acquire Anchor Specialty
Jan 15 2020 // Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies. Tampa, Fla.-based HCI Group has...
Insurer to Pay Settlement in Title IX Suit Against Southern Arkansas University
Jan 14 2020 // A former Southern Arkansas University student has settled a lawsuit with the university in Magnolia alleging SAU acted with “deliberate indifference” when she reported being sexually assaulted in 2015. The...
