Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Comments Sought on Proposed Claim Rules for Texas Windstorm Insurer
Oct 7 2019 // Texas insurance regulators are seeking input on proposed changes to claims-related rules for the state’s property insurer of last resort along the Texas coast. The Texas Department of Insurance has proposed changes...
Insurers Named as Defendants in Challenge to Michigan Auto Insurance Law
Oct 7 2019 // Crash victims and a brain-injury rehabilitation facility challenged Michigan’s new auto insurance law on Oct. 3, contending that pending limits on reimbursement rates for nursing and other care violate their...
U.K. Personal Lines Insurers May Face Curbs on Price Hikes Slapped on Renewal Policies
Oct 7 2019 // U.K. home and car insurers could be stopped from jacking up prices when customers’ policies come up for renewal as the country’s financial-markets watchdog clamps down on an industry that’s not giving a...
Workers’ Compensation Premiums Up 2.2% in First Half of 2019
Oct 7 2019 // In the aggregate, workers’ compensation insurers reported a modest increase in direct written premiums in the U.S. for the first six months of 2019 versus the same period 2018, up 2.2%. However, the 25 carriers with...
InsureTech Connect: The Insurance Industry Needs to Understand What Business It’s In
Oct 7 2019 // People who buy gasoline generally don’t care for the product or enjoy the experience of pumping gas: They just want to drive. Chris Colborn, chief experience officer for the Lippincott creative consulting firm,...
Tokio Marine Eyed PURE for Years. Yankees-Red Sox Finally Brought Them Together.
Oct 4 2019 // PURE Group, the high-net-worth insurer set to be acquired by Tokio Marine Holdings Inc., had been on the Japanese company’s radar for more than a decade. After PURE was created in 2006, Tokio Marine tried to set up a...
Insurers, Tech Firms Scramble to Keep Up With Cyber Risks
Oct 4 2019 // Despite progress, carriers are still falling short in how they approach cyber insurance and also how they cover events when they happen. How can this be? The unique makeup of cyber risks continues to hold them back,...
Tokio Marine to Buy High Net Worth Insurer Pure for $3.1 Billion
Oct 3 2019 // Tokio Marine Holdings Inc. has agreed to buy U.S. high net worth insurer Privilege Underwriters Inc. and its specialty insurance subsidiaries, known as Pure Group, for $3.1 billion (approximately JPY 325.5B). Tokio Marine...
New Specialty Re/Insurer Convex Authorized to Write Excess and Surplus Lines in U.S.
Oct 3 2019 // Convex Group, the Bermuda-based international specialty insurer and reinsurer, announces that its UK insurance subsidiary, Convex Insurance UK Ltd., has been added to the National Association of Insurance Commissioners...
How the Future of Insurtech Innovation Is Tied to the Traditions of Regulation
Oct 3 2019 // It’s no secret: Innovators and regulators often clash. But both are needed to help enable a dynamic, consumer-friendly property/casualty industry in the future, insurance and insurtech experts said...
Canada Insurer Intact Financial Corp. Completes Acquisition of On Side Restoration
Oct 2 2019 // Intact Financial Corp., the Toronto-based property and casualty insurer, announced it has completed the acquisition of On Side Developments Ltd., the parent company of On Side Restoration. With more than 1,200 employees...
Texas Insurer Trade Group, Industry Partners Donating Alarms to Local Fire Departments
Oct 1 2019 // The Insurance Council of Texas (ICT), along with insurance industry partners First Alert, Travelers Insurance, State Farm Insurance, Hochheim Prairie and the Association of Fire & Casualty Companies in Texas, will...
AM Best Revises Outlooks to Positive for New Hampshire’s Concord Group
Sep 27 2019 // AM Best has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of A (excellent) and the long-term issuer credit ratings (ICRs) of a+ for New Hampshire-based Concord...
U.S. Private Flood Insurance: The Journey to Build a New Market
Sep 27 2019 // Not long ago, private flood insurance was thought to be an impossible dream in the property/casualty sector. There were numerous arguments supporting the common wisdom that a meaningful market for residential flood...
Insurers Balk at Study Questioning Value of Municipal Bond Insurance
Sep 27 2019 // Around noon one Wednesday in July, two school districts from California’s Central Valley auctioned off their bonds to Wall Street underwriters. Both had the same credit rating. The deals were of similar size. They...
Cyber Insurer Coalition Expands Coverage to Businesses With Up To $1B in Revenue
Sep 27 2019 // Coalition, an cyber insurance company focused on small- and midsize-businesses, has expanded its cyber and technology errors and omissions coverage — previously only available to companies with less than $250 million in...
Ocean Marine Insurers Face New Risks, Challenges in Changing Segment
Sep 26 2019 // Ocean marine insurance is the oldest line of insurance and today represents a small specialty line in the property/casualty insurance industry. Since those early days, marine products have evolved as risks and exposures...
RCV, ACV Policy Changes Are Coming, Texas Windstorm Insurer Says
Sep 26 2019 // The Texas Windstorm Insurance Association is alerting agents about an important, upcoming change to the policy conditions that determine how covered losses are settled. Current law says the type of loss settlement —...
InsureTech Connect: Insurance Industry Needs to Understand What Business It’s In
Sep 26 2019 // LAS VEGAS — People who buy gasoline generally don’t care for the product or enjoy the experience of pumping gas: They just want to drive. Chris Colborn, chief experience officer for the Lippincott creative...
Mutual Insurer Trade Group NAMIC’s CEO Chamness to Retire
Sep 26 2019 // The National Association of Mutual Insurance Companies announced that Charles Chamness, the chief executive officer of the organization, is retiring from the post he held for nearly 17 years. The official announcement came...
