Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Texas Windstorm Insurer: New Laws Bring Organizational Changes
Sep 25 2019 // The Texas Windstorm Insurance Association (TWIA) reports that working to implement new laws that change how TWIA does business and serves policyholders. The association recently issued the following update on a few...
Apollo’s Insurer Unit, Athene Holding, Quietly Settles Harassment Case Against CEO
Sep 25 2019 // The allegations described a boss letting loose with profane tirades, sexist insults, racist comments, even physical intimidation. Purported incidents piled up for four years inside the sprawling investment empire of buyout...
Insurers Continue to Cover Beach Resorts Despite Spate of Caribbean Hurricanes
Sep 25 2019 // Frenchman’s Reef, the largest resort on St. Thomas, was smashed by Hurricane Irma, which breached roofs, caved in walls and felled trees across the oceanfront property. Two years later, the hotel remains closed as...
Insurers to Offer up to $5B in Capacity to Hike Developing Nations’ Climate Resilience
Sep 25 2019 // Insurers are partnering with the United Nations and other public groups to help the poorest countries bounce back from natural disasters that may become a more regular occurrence. As part of the program, as much as $5...
Washington Insurance Commissioner Orders Alaska Air Captive to Pay $2.5M
Sep 24 2019 // Washington Insurance Commissioner Mike Kreidler has hit another big corporation’s captive insurer with a fine. Kreidler has been going after captives for owed taxes by fining them since last year, when he issued...
Excess & Surplus Market Soars as Standard Carriers, Lloyd’s Drop Accounts
Sep 24 2019 // Demand for surplus lines insurance rose dramatically in 2018 and is continuing to expand this year, so much so that some in the sector are feeling a bit overwhelmed. The excess and surplus lines sector is enjoying its...
Insurers Join Call for Climate Action at U.N. Summit
Sep 23 2019 // Insurers and pension funds managing $2.3 trillion pledged on Monday to shift their portfolios away from carbon-heavy industries in the hope of triggering snowballing climate commitments from other big investors. German...
PG&E Attacks Plan for Paying California Wildfire Victims Before Insurers
Sep 23 2019 // PG&E Corp. and a group of insurers urged a judge to reject a competing reorganization plan for the bankrupt utility because the proposal would pay fire victims who lost their homes ahead of insurance companies and...
Michigan Classic Auto Insurer, Hagerty, Driving Into the Future
Sep 23 2019 // Traverse City, Michigan-based Hagerty is evolving to adapt to a changing automotive world. “Our mission as a business is to save driving and car culture for future generations,” said McKeel Hagerty, CEO....
U.K. Travel Insurer Saga Secures Flights for Clients Hit by Collapse of Thomas Cook
Sep 23 2019 // Saga Plc said on Monday it was securing alternative flights, where possible, for customers who are due to travel imminently and have been impacted by the collapse of Thomas Cook. The over-50s tourism and insurance firm...
Staying Profitable in an Increasingly Fragmented World: SCOR Global P&C CEO
Sep 23 2019 // There are several things that keep SCOR’s Jean-Paul Conoscente awake at night. Climate change is one of them; cyber risk is another. Only time will tell whether these risks are actually insurable, cautions...
Aviation Industry Braces for Double-Digit Premium Hikes After 737 MAX Groundings
Sep 20 2019 // The aviation industry is bracing for double-digit insurance premium hikes for the first time in about 15 years, as insurers wrestle with higher costs from aircraft groundings, including the grounding of Boeing Co.’s...
Re/insurers Rethink Climate Change Risks as Losses Grow from Wildfires, Floods, Hail
Sep 20 2019 // By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer...
The Lowdown: Reimagining Research to Recognize Emerging Insurance Industry Trends
Sep 19 2019 // The Society of Insurance Research (SIR) will hold their 49th Annual Conference on October 20th – 22nd at the Sheraton Charlotte Hotel in Charlotte, NC and I am thrilled to be attending. The theme for this year’s...
Texas Auto Insurer of Last Resort Files for Rate Increases
Sep 19 2019 // The Texas Department of Insurance has extended the period in which recent rate increase request by the Texas Automobile Insurance Plan Association (TAIPA) may be approved. TAIPA, the state’s auto insurer of last...
As Legacy Acquisitions Boom, What Will Happen to Deal Pricing?
Sep 18 2019 // Activity in the legacy insurance market has boomed. However, as capital pours in, perhaps it is best to understand how pricing will develop in the space and whether increased capital will drive price deterioration. For a...
Insurtechs Poised to Challenge Traditional Home Insurers: J.D. Power
Sep 18 2019 // Traditional home insurers appear to be in need of an image change, and that, in turn, could create a big opportunity for insurtech startups, according to the latest J.D. Power U.S. Home Insurance study. Approximately 74...
CopperPoint Acquires Alaska National Insurance Company
Sep 17 2019 // CopperPoint Insurance Cos. has agreed to acquire Alaska National Corp. and its wholly owned subsidiary Alaska National Insurance Co., an Alaska-domiciled workers’ compensation and commercial insurance carrier. The...
Specialty Lines Insurance: Innovating at the Edges of Society and the Economy
Sep 17 2019 // Emerging risks with little or no claims history can be notoriously difficult to underwrite—but many specialty lines companies are finding ways to put their toes in the water to insure these new risks, especially when...
TDI Offers Guidance on New Ban on Named Driver Policies
Sep 16 2019 // The Texas Department of Insurance has issued a bulletin providing guidance on House Bill 259, passed during the 2019 legislative session, that prohibits insurers from delivering, issuing for delivery, or renewing named...
