Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
What’s Happening and What Lies Ahead for P/C Insurance Pricing: Moody’s
Oct 30 2018 // The current pricing environment for property/casualty insurers is “modestly positive,” with commercial and personal auto rates rising by mid-to-high single digits, homeowners and commercial property rates...
UK Insurers, Brokers Applaud Government’s Decision Not to Hike Premium Tax
Oct 30 2018 // UK insurers and brokers have applauded the UK Treasury’s decision not to raise premium taxes, which currently has an annual price tag for each household of an average of £200 ($256.40), according to the Association...
Update: Lion Air Jet Plunged at 350 Miles Per Hour Before Crash, Data Show
Oct 30 2018 // More than a day after a brand-new Boeing Co. 737 Max jet flown by Indonesia’s Lion Air plunged into the Java Sea, the search for the plane failed to yield much as investigators continued the grim task of uncovering...
Top 10 Market Conduct Actions Facing P/C Insurers
Oct 30 2018 // Untimely claims handling and failure to provide required compliant claims, underwriting, and policyholder service disclosures are the U.S. insurance industry’s top compliance shortcomings. That’s according to a...
How High Customer Expectations Raise the Bar for Insurance Industry
Oct 30 2018 // Record high customer satisfaction among auto insurance customers is clearly good news for customers, especially at a time when their overall customer experience is being tested by the rising cost of auto insurance. For...
Insurer: Not liable for Claims of Embezzlement in New Mexico Matter
Oct 29 2018 // Another insurance company has gone to federal court in New Mexico to avoid paying millions of dollars in claims from victims whose trust funds and savings were embezzled. The Albuquerque Journal reported the Cincinnati...
It’s a Very Different World for P/C Insurance Underwriters, Says Guy Carpenter
Oct 29 2018 // Property/casualty insurers’ operating environment today is very different than just a few short years ago. Lines that were stable are now volatile and those that have struggled are looking profitable, reinsurance...
Mass. Court Rules for Auto Insurer in ‘Blood Relative’ Household Member Case
Oct 29 2018 // A Massachusetts Appeals Court has ruled in favor of an insurer in a case involving an automobile accident in which the injured plaintiff sought to obtain underinsured motorist coverage under a policy held by the mother and...
Boeing 737 Max, Operated by Indonesia’s Lion Air, Crashes with 189 on Board
Oct 29 2018 // A Boeing Co. 737 Max jet, operated by Indonesia’s Lion Air, crashed in the Java Sea with 189 people on board, making it the model’s first accident and potentially the worst commercial aviation disaster in three...
A.M. Best Revises Outlooks to Stable for Agency Insurance Company of Maryland
Oct 26 2018 // A.M. Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ for Agency Insurance Company of Maryland Inc. (AIC), based...
Climate Change Impact Assessment Looks at Risk, Readiness Around U.S.
Oct 25 2018 // Low risk, but low readiness. That’s the assessment for Long Beach, Calif., a city that’s close to my heart. For those who love numbers, the city has a risk score of 49.48, and a readiness score of 47.01. Not...
Mexican Insurers Will Absorb Losses from Hurricane Willa: A.M. Best
Oct 25 2018 // Mexico’s insurance industry overall remains well-capitalized and can absorb the financial impact generated from Hurricane Willa, according to an A.M. Best briefing. Hurricane Willa made landfall on Oct. 23 on...
Insurers Under Scrutiny in Puerto Rico with 13,600 Hurricane Maria Claims Still Open
Oct 25 2018 // Thousands of Puerto Ricans have been forced to drain their savings, close their businesses, or resign themselves to living with structural damage as they fight insurance companies over millions of dollars’ worth of...
Utility, Insurer Sued Over Damage to Voting Machines in Mississippi County
Oct 25 2018 // A southwest Mississippi county is suing an electrical utility and its own insurer, seeking more than $500,000 for damage to voting machines caused by a 2016 power outage. The Enterprise-Journal reports Pike County earlier...
Fidelis Sets Up Re/Insurer in Dublin to Prepare for Brexit; Senior Leaders Appointed
Oct 24 2018 // Fidelis Insurance Holdings Ltd. announced it has established a regulated re/insurer in Ireland, called Fidelis Insurance Ireland DAC (FIID), to take advantage of opportunities in the European Economic Area (EEA) after...
French Insurer April Attracts Interest From Private Equity Firms CVC, KKR
Oct 24 2018 // French insurer April SA has drawn takeover interest from private equity firms including CVC Capital Partners, KKR & Co. and BC Partners as it weighs a sale amid a wave of industry consolidation, according to people...
Australia Life Insurers Will Be Required to Publish Customer Dispute Numbers
Oct 24 2018 // Australia’s life insurers will be required to publish customer dispute numbers every six months, top financial regulators said on Wednesday, as a misconduct inquiry threatens other reforms that could hurt industry...
Judge Dismisses Nebraska County’s Claim Against Insurers
Oct 23 2018 // Gage County’s insurance policies from a Nebraska risk-sharing pool of companies don’t cover $28.1 million that a jury awarded to six people who were wrongfully convicted in the 1985 rape and killing of a woman,...
A.M. Best Upgrades Workers’ Comp Carrier ICW Group in California
Oct 23 2018 // A.M. Best Company has upgraded the Financial Strength Rating of San Diego, Calif.-based ICW Group Insurance Cos. to “A” (Excellent) from a “Stable” outlook. A.M. Best said its ratings reflect the...
China Insurer PICC Cuts Size of IPO in Response to Collapse in Market Prices
Oct 22 2018 // The People’s Insurance Company (Group) of China Ltd., the nation’s largest property insurer, cut the size of a planned first-time domestic share sale and indicated it will proceed when the market improves. The...
