Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
An Update on Florida Insurer Downgrade Situation: Demotech Commentary
Jan 14 2020 // Demotech began involvement with the Florida homeowners’ insurance market at the State of Florida’s invitation in 1996 and today reviews and rates 46 insurers that write approximately 66% of Florida’s...
Tennessee Touts Insurance Market Growth; Cites $31M Recovered for Consumers
Jan 13 2020 // More than $31.4 million was located and returned to Tennesseans in combined life insurance benefits/annuities and monies returned through the department’s mediation efforts in 2019, according to the Tennessee...
Industry Trends to Exploit for 2020
Jan 13 2020 // The insurance industry is so intertwined into the economy and society, that just about any noticeable change in either will have some impact for the insurance industry. That is why it is imperative for agency owners to...
Why It’s Not So Easy Getting Insurers to Defend in Sexual Harassment Cases
Jan 13 2020 // While Harvey Weinstein’s insurers have reportedly agreed to pay $47 million to settle civil suits against the movie producer, most policyholders should prepare for an epic legal battle just to get their insurers to...
Insurance Journal’s Top 10 Cyber Insurance Stories of 2019
Jan 10 2020 // An A.M. Best report released in June gave a comprehensive look at the state of the cyber insurance market for 2018, the most recent year data was available, stating that it has seen continued growth and underwriting...
Australia’s Bushfires Could Surpass 2009’s Costly Season; Analysts, Insurers Comment
Jan 10 2020 // Australia’s bushfire season has months to run and could easily surpass the most costly fire season, 2009’s Black Saturday fires in Victoria, which had a price tag of an estimated A$4.4 billion (US$3 billion),...
Scandal-Hit Indonesian Insurer, with $2B Financial Hole, Could Get Government Bailout
Jan 10 2020 // Policyholders at Indonesia’s state-owned PT Asuransi Jiwasraya are looking to the government to rescue the scandal-hit insurer, which has uncovered a $2 billion hole in its books. The crisis affects 17,000 buyers of...
More Than a Dozen Florida Insurers Facing Ratings Downgrades
Jan 9 2020 // The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the...
Insurer Won’t Cover Atlanta House Wrecked by Squirrel
Jan 9 2020 // An Atlanta couple said they came home from a winter vacation to find their house had been ransacked by an unusual suspect: a squirrel. Kari and Dustin Drees bought their first home last month in Atlanta’s affluent...
New Policy Contracts Now in Effect at Texas Windstorm Insurer
Jan 8 2020 // Texas’ insurer of last resort for wind and hail along the coast says new terms and conditions for policies with an effective date on or after January 1, 2020, are now in place. The updated coverages, terms, and...
Generali Completes Acquisition of Portugal Insurer Seguradoras Unidas from Apollo
Jan 8 2020 // Generali finalized the acquisition in Portugal of the insurer Seguradoras Unidas and the health services company AdvanceCare from Apollo Global Management Inc. for €600 million (US$670.1 million) Generali paid €510...
Natural Catastrophes Cost $150B in 2019, with Insurers Paying $52B: Munich Re
Jan 8 2020 // Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe...
Rehabilitation of Florida Insurer Windhaven Deemed ‘Useless’; Judge Orders Liquidation
Jan 7 2020 // Plans to rehabilitate Florida auto insurer Windhaven Insurance Co. have been deemed “useless” and the company will instead be liquidated. In a Jan. 6 order, Leon County Court Judge Ronald W. Flury said the...
North Carolina Insurers Settle for 4% Rate Increase on Dwelling Policies
Jan 7 2020 // The North Carolina Department of Insurance and the North Carolina Rate Bureau (NCRB) have reached a settlement for an average 4% increase on a proposal to increase dwelling insurance rates. A hearing on the proposal...
Church Mutual’s Conversion to a Mutual Holding Company Finalized
Jan 6 2020 // Merrill, Wisconsin-based Church Mutual’s conversion of its corporate structure to a mutual holding company became effective Jan. 1, 2020. According to the company, the move provides the organization more flexibility...
Insurance Market Shrinking as Senior Living Industry Grows
Jan 6 2020 // The senior population continues growing at a time when the insurance market for senior living operations is under strain and both trends are expected to continue. The population of Americans over age 80 will double, from 6...
Liberty Mutual to Insure Uber Drivers and Passengers in 7 States, Puerto Rico
Jan 2 2020 // Liberty Mutual Insurance will provide coverage for Uber drivers and passengers throughout New England, South Carolina and Puerto Rico as part of the company’s 2020 auto insurance programs, which became effective on...
2020 Predictions from Cannabis Industry Experts: More Insurance Business
Jan 2 2020 // More legalization in more states. More product liability risks. More regulations. More M&A. More of many things is what insurance professionals involved in the cannabis industry can expect in 2020. Insurance Journal...
Alaska Air Carrier Revises Estimate of Damage from Cyber Attack
Jan 2 2020 // An Alaska air carrier that suffered a cyber attack has experienced more disruption than initially projected, according to a company announcement. The RavnAir Group on Dec. 20 experienced what it called a...
Commercial Lines Insurtech Bold Penguin Acquires E&S Brokerage Tech Platform xagent
Jan 2 2020 // Bold Penguin, a commercial insurance exchange technology platform launched in 2016, announced it has acquired xagent, an independent, single-entry, multi-quote platform for standard and surplus lines business insurance...
