Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
5 Trends in Today’s Personal Umbrella Market
Dec 2 2019 // The personal umbrella market had been steady for many years, with lots of choices available in the market when it came to finding the right coverage for customers. However, recent changes are turning the market upside down...
How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study
Dec 2 2019 // Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers” — those that succeed at both, not only growing but...
Program Business Continues Record Growth Despite Market Challenges
Dec 2 2019 // Underwriters Search for ‘New’ and ‘High Risk’ Spaces to Target Fueled by investments from insurtechs and interest in niche classes, the program business market has experienced record growth over the...
5% Rate Hike Recommended for Texas Windstorm Insurer
Dec 2 2019 // When the board of directors of Texas’ property insurer of last resort for wind and hail along the Texas coast meets in December, its members will be considering a recommendation by the organization’s actuarial...
Insurers to Pay $21M of $41M Shareholder Settlement with Wynn Resorts
Dec 1 2019 // Casino mogul Steve Wynn agreed to pay $20 million toward a settlement of shareholder lawsuits that claimed Wynn Resorts Ltd.’s board had been complicit in his alleged sexual misconduct. The former chief executive...
Wildfire Crisis is Roiling California’s Insurance Market
Nov 27 2019 // Lauris Bye, a homebuilding industry veteran who moved to Southern California’s wildfire-prone hills decades ago, felt confident about the newly built house he was buying about 30 miles north of downtown Los...
Insurance Companies Sue Government Over Gatlinburg Fire
Nov 27 2019 // More than 40 insurance companies sued the federal government last week over its handling of a 2016 Tennessee wildfire that killed 14 people and destroyed or damaged more than 2,500 buildings in Sevier County. The Knoxville...
AXA XL Buys London-Based Title Insurance Agency, Agrees to Buy Mexico Title Insurer
Nov 27 2019 // AXA XL announced it has completed the acquisition of Secure Legal Title Ltd., a London-based insurance agency and Lloyd’s approved coverholder, with operations in the U.K., Europe, India and the Americas. Founded in...
Oklahoma Commissioner OKs Rhode Island Insurer’s Insurance Business Transfer Plan
Nov 26 2019 // Oklahoma Insurance Commissioner Glen Mulready on Nov. 26 authorized Rhode Island-based insurance Providence Washington Insurance Co. (PWIC) to submit its Insurance Business Transfer (IBT) Plan to the District Court of...
Why E&S Carriers Aren’t Winners Over the Long Term
Nov 25 2019 // ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes,” reveals that E&S/specialty companies don’t fare well over the long term. Here, CEO Bill Pieroni suggests possible reasons...
Confessions of a Diehard Insurance Data Fan: Part 2
Nov 25 2019 // After Bill Pieroni, the CEO of ACORD, delivered a presentation about ACORD’s latest study, “Intelligent Growth: Intent, Decisions, Outcomes,” he sat down with Wells Media’s Andrew Simpson to talk...
ACORD Study Results: Loser Lessons
Nov 24 2019 // More from ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes.” Of the 200 carriers, 73 were called waning carriers. These are carriers that have inferior combined ratios or return on...
How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study
Nov 24 2019 // Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers”—those that succeed at both, not only growing but also...
Confessions of a Diehard Fan of Insurance Data: Part 1
Nov 24 2019 // If Bill Pieroni were a Major League Baseball executive, he would be one of those sabermetric types like Oakland’s Billy Beane, heralded by the book “Moneyball.” His team’s manager would have...
Report Urges Insurers to Eye Impact of Climate Change on Underwriting, Investments
Nov 21 2019 // Insurers can no longer put off addressing the impact of climate change on their underwriting, pricing, and investment decisions, as well as their bottom lines, a recent analysis from Deloitte asserts. “The escalating...
The Central Insurance Companies Promote Lee to VP of Southeast Regional Office
Nov 21 2019 // The Central Insurance Companies have promoted David Lee to vice president of the Southeast regional office, effective November 25, 2019. Lee will replace Senior Vice President Keith Moore who will retire on November 22,...
Texas Windstorm Insurer’s Actuarial Committee Recommends 5% Rate Hike
Nov 20 2019 // When the board of directors of Texas’ property insurer of last resort for wind and hail along the Texas coast meets in December, its members will be considering a 5% rate increase recommended by the...
Insurer Asks Court to Divide Money After New Hampshire Crash That Killed Seven
Nov 19 2019 // An insurer for a trucking company involved in a crash that killed seven motorcyclists is asking a judge to divide liability payments among victims and their families. The Boston Globe reports that Pilgrim Insurance Co....
Insurers, Other Firms Criticize International Energy Report Over Climate Approach
Nov 19 2019 // Fatih Birol, the head of the International Energy Agency (IEA), faced renewed pressure on Monday from investors and scientists concerned about climate change to overhaul the agency’s projections for fossil fuel...
Japan’s Largest Insurers Take Another Hit from Typhoon Losses
Nov 19 2019 // A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that...
