Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Legacy Acquisition Firm DARAG Buys UK Insurer, The Underwriter
Jul 22 2019 // DARAG Group Ltd., a Malta-based legacy acquirer, announced the acquisition of The Underwriter Insurance Co. Ltd., a UK-based insurer in run-off. The transaction will be completed through DARAG Deutsche Versicherungs-und...
Expert Outlines 5 School Insurance Liability Issues to Watch
Jul 19 2019 // Lilian A. Vanvieldt, senior vice president, educational entities practice leader for the national insurance agency Alliant, has spent more than three decades insuring schools across the country. Her book of business spans...
Specialty Insurer ProSight Hopes to Raise $140 Million with IPO
Jul 18 2019 // ProSight Global Inc. announced its IPO terms, which include expectations of raising at least $140 million. The specialty insurer said the company’s initial public offering would involve more than 8.8 million shares...
Plymouth Rock Assurance to Acquire New Jersey’s Rider Insurance Company
Jul 17 2019 // Plymouth Rock Assurance has agreed to expand its investment in the motorcycle insurance segment with the acquisition of Rider Insurance Company, subject to regulatory approvals. A New Jersey-based motorcycle insurance...
Freak Weather Risks India’s Renewable Energy Goals, Affecting Insurers, Lenders
Jul 17 2019 // India’s ambitious plan to take the leadership position among nations as one of largest producers of renewable energy may have run into some unfavorable weather. Freak climatic conditions are damaging renewable energy...
By Taming Big Data with AI, Cytora Aims to Transform Commercial Underwriting
Jul 17 2019 // It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward...
Florida Gets Ready for Peak Hurricane Season After 3 Years of Major Storms
Jul 17 2019 // Floridians are on alert as the state heads into peak hurricane season after three straight years of being impacted by major storms. Meanwhile, the Florida Panhandle continues its recovery from Hurricane Michael that...
Georgia Court: Insurer Can’t Deny Coverage Despite Misinformation on Application
Jul 15 2019 // An insurer that extended its workers’ compensation coverage for 90 days after discovering the employer had violated the terms of its policy could not then deny coverage for a claim on the grounds that those terms had...
Insurtech Firms Continue to Grapple With Data Ownership
Jul 15 2019 // Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out...
U.S. P/C Insurers’ Net Income Increased 69% in 2018 Over 2017: A.M. Best
Jul 15 2019 // The U.S. property/casualty industry showed a year-over-year 69% increase in net income to $59.2 billion in 2018, owing to lower losses from catastrophic events, favorable development of prior years’ loss reserves and...
Cyber Alert: New Era in Privacy Liability to Begin. California’s Data Privacy Law Could Be Game-Changer
Jul 15 2019 // As the nation’s most far-reaching data privacy law, California Consumer Privacy Act (CCPA), is set to begin Jan. 1, 2020, businesses and their insurers are preparing for a new era in cyber liability. Anxiety is on...
Rhode Island Governor Vetoes Bill on Suing Car Insurance Companies
Jul 12 2019 // Rhode Island Governor Gina Raimondo has vetoed a bill that would have allowed individuals to sue auto insurers for triple damages if their vehicle is totaled. The Democratic governor says the bill, which is supported by...
5th Circuit: No Assertion that Drunken Driving Equals Intention to Crash
Jul 12 2019 // If a drunken motorist collides with another vehicle, can the incident truly be called an accident? A federal judge in Texas said “no” and dismissed a plaintiff’s lawsuit seeking punitive damages from...
California Regulators Seek to Curb Misinformation About Earthquake Insurance
Jul 12 2019 // The recent earthquakes that pummeled neighborhoods in Ridgecrest and Trona in Southern California have led to reports that some insurers and agents may be declining to write earthquake policies in various areas of the...
Confie Acquires Southeast Auto Insurer Southern Harvest
Jul 12 2019 // Confie, a national provider of personal and commercial lines insurance, is acquiring Southern Harvest Insurance. The move will broaden Confie’s U.S. presence to include Georgia and further develop its presence in...
Why First Notice of Loss Is Key to Customer Satisfaction: Viewpoint
Jul 11 2019 // What’s worse: An incident that caused an insurance claim or the claims process itself? Ask a policy holder who has recently lived through a homeowners’ insurance claim process and the results might not be as...
Pushing and Pulling Lloyd’s Into the 21st Century
Jul 10 2019 // Twenty-five years ago, the Lloyd’s of London marketplace was teetering on the brink of insolvency, reeling from billions of dollars of asbestos and pollution liabilities. Many of the best brains in the market worked...
Norway Insurer Protector Expects Q2 Loss After Grenfell Fire Ruling with Munich Re
Jul 10 2019 // Shares in Protector Forsikring fell 12% on Wednesday after the Norwegian insurer warned about a second-quarter loss, partly because it had lost an arbitration case related to the 2017 Grenfell Tower fire in London. It said...
Spanish Insurer MAPFRE Teams with China Re on Belt & Road Initiative Cover
Jul 9 2019 // Spanish insurer MAPFRE said it has signed a memorandum of understanding with China Re to insure infrastructure within the belt and road initiative promoted by China. The two said they will collaborate on insuring...
Roman Catholic Archdiocese of New York Sues Insurers Over Future Abuse Claims
Jul 8 2019 // The Roman Catholic Archdiocese of New York has sued more than two dozen insurance companies, seeking to compel them to cover claims filed by people who say they were abused by clerics. Church officials anticipate that...
