Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Linking P/C Auto Insurance Customer Experience to Improved Financial Value
Oct 2 2018 // Most insurance organizations have historically built strategic plans around a few core tenets: 1) increasing sales (market share and growth); 2) improving acquisition or retention; 3) increased persistency; and 4)...
Why Hospitals Charge Auto Insurance, Workers’ Compensation Patients Much More Than Health Insurers
Oct 1 2018 // Insurer market power matters in hospital pricing. Patients with automobile, workers’ compensation, and other non-conventional commercial insurance plans paid much higher prices than patients with HMO/PPO health...
Texas Coastal Lawmakers Urge Denial of Windstorm Insurer’s 10% Rate Increase Request
Oct 1 2018 // More than 20 state legislators have signed a letter addressed to Texas Insurance Commissioner Kent Sullivan requesting that a 10 percent rate increase filed by the state’s property insurer of last resort for wind and...
Top 20 Private Passenger Auto Liability Insurers in Louisiana
Oct 1 2018 // 1.State Farm Mutual Automobile Insurance Company Market Share: 31.06% 2. Progressive Security Insurance Company Market Share: 10.19% 3. Allstate Property and Casualty Insurance Company Market Share: 7.08% 4. Geico Casualty...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Oct 1 2018 // Insurance industry losses from Hurricane Florence, which hit the Carolinas mid-September as a Category 1 storm, will be manageable and not have a severe impact on insurers, according to experts. As the storm turned out to...
South Carolina Issues Emergency Order to Insurers, Updates Hurricane Florence Data Call
Oct 1 2018 // The South Carolina Department of Insurance has issued two Hurricane Florence-related notices to all property and casualty insurers doing business in the state. SCDOI Director Ray Farmer issued an emergency regulation Sept....
New York DFS Issues Final Reg Requiring Insurers to Include Formulary Exception
Oct 1 2018 // The New York Department of Financial Services (DFS) is taking new actions to address the opioid crisis in New York State. DFS issued a final regulation requiring insurers to include a formulary exception process for...
Personal Injury Insurance Actions in Missouri and a New Definition of ‘Reasonable Value’
Oct 1 2018 // A change in a Missouri state statute has created a new, interpretable definition of reasonable value of medical care in personal injury litigation. Although the change was likely intended to provide more clarity, competing...
Massachusetts Insurance Agents, Carriers Helping Their Towns Get Back to Normal After Gas Explosions
Oct 1 2018 // As three Massachusetts towns continue to face the after effects of a series of natural gas explosions, finding some normalcy may seem nearly impossible. However, this is something MAPFRE Insurance was seeking to offer as...
Commercial Auto: Profitability Issues Remain, but There’s Light at the End of Tunnel
Oct 1 2018 // Despite insurers’ best efforts to increase rates to compensate for losses, commercial auto continues to be an unprofitable line. In less than a decade, despite continued increases in premiums, two major carriers have...
2 Insurer Tax Credits Under Scrutiny by Arkansas Task Force
Sep 30 2018 // A tax overhaul task force is looking into whether Arkansas should change two tax credits authorized for insurance companies that cost the state about $77 million a year. Members of the Tax Reform and Relief Legislative...
New Munich Re Cyber Reinsurance Product Designed for Small, Mid-Sized Businesses
Sep 28 2018 // Munich Reinsurance America, Inc. (Munich Re) has launched a cyber reinsurance product for regional property/casualty insurance carriers seeking to provide this coverage and associated services to their small and...
Just Like Many British Homes, UK Insurers’ Shares Are Subsiding This Summer
Sep 28 2018 // Just like a lot of British houses this summer, U.K. insurance stocks are sinking. The country’s non-life insurers sector had its steepest drop in more than a year-and-a-half on Friday after its biggest constituent,...
New Property Insurer, Journey, to Include Texas in Initial Roll Out
Sep 28 2018 // Texas is one of three states in which a new property/casualty insurance company plans its initial roll out. In addition to Texas, Florida-based Journey Insurance Co., formed by United Insurance Holdings Corp. (UPC...
Insurers Tell Congress Trump Tariffs Harm Insurance Consumers
Sep 27 2018 // As the Trump Administration continues to slap tariffs onto various consumer products, property/casualty insurers are increasingly concerned how some of these actions will affect the cost of auto and home insurance. Auto...
UPC Insurance, Tokio Marine Kiln Form New Florida-Based Property Insurer ‘Journey’
Sep 27 2018 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, has formed Journey Insurance Co. in partnership with Tokio Marine Kiln. The new property and casualty insurer will...
Slice Labs Raises $20M for Its On-Demand Platform for Insurers
Sep 26 2018 // Cloud services provider Slice Labs has raised an additional $20 million that it will use to expand its cloud services for on-demand insurance products globally. The Series A funding round was led by The Co-operators with...
UK Financial Firms Expect 5,766 Jobs to Move with Hard Brexit: 3rd Reuters Survey
Sep 26 2018 // As few as 630 UK-based finance jobs have been shifted or created overseas so far ahead of Brexit, while the number of jobs that UK-based financial institutions said they expected to move in the event of a...
Global Insurers Realize Innovation Is Critical for Future Success: A.M. Best Survey
Sep 25 2018 // A significant majority of global insurers understand that innovation is increasingly becoming a competitive differentiator in the global marketplace, according to the results of an A.M. Best survey of its rated...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Sep 25 2018 // This enhanced satellite image made available by NOAA shows Hurricane Florence off the eastern coast of the United States on Wednesday, Sept. 12, 2018 at 5:52 p.m. EDT. (NOAA via AP) Insurance industry losses from Hurricane...
