Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Increasingly Seek Legacy Transfers to Shed Long-Tail Liabilities
Aug 29 2018 // Several recent reserve cover deals—including the single-largest reinsurance transaction on record—demonstrate a growing interest on the part of insurers to shed their long-tail liabilities. A sharp uptick in reserve...
NCCI Proposes 13% Rate Decrease for Florida Workers Comp, Notes Future Challenges
Aug 29 2018 // Florida businesses could see another significant rate decrease in workers’ compensation rates next year if Florida regulators approve the latest filing from the National Council on Compensation Insurance (NCCI). But...
1-in-5 Consumers Say They’d Use Amazon or Google for Home Insurance
Aug 28 2018 // One-in-five consumers say they would use Amazon or Google for their home insurance, a J.D. Power survey released today shows. And most of those who took the survey (80 percent) already have insurance with a large national...
Keystone Insurers Group Adds 2 More Wisconsin Agencies
Aug 28 2018 // Keystone Insurers Group has added Family Insurance Center of Seymour, Wisconsin, and the Walker Agency Inc., with locations in Berlin, Montello and Westfield, Wisconsin, to its growing list of partners in that...
Washington City, Insurer Settle with Utility over Fire Started by Police
Aug 27 2018 // A city in eastern Washington state has agreed to a settlement with a power company after a large fire started last year during a gun-shooting training exercise for local police officers. The Yakima Herald-Republic reports...
California’s 1st Cannabis Insurer Expands Coverage
Aug 27 2018 // California Insurance Commissioner Dave Jones approved a filing from Golden Bear Insurance Co. amending its California Cannabis program product to lower rates, expand coverage options, and expand the classes of business...
Big Insurers Still Taking a Pass on Marijuana Profits
Aug 24 2018 // Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are...
Wisconsin’s Coverra Insurance Joins Keystone Insurers Group
Aug 23 2018 // Keystone Insurers Group has expanded into 12 states with the addition of Coverra Insurance Services in Sparta, Wisconsin, its first agency partner in that state. Coverra Insurance Services opened in 1984 and today employs...
Venture Capital Firm, Beat Capital, to Merge with Insurer Investment Vehicle Paraline UK
Aug 23 2018 // Venture capital firm Beat Capital Partners and insurance investment vehicle Paraline UK announced they plan to merge – in a move that is designed “to enhance and further build Beat’s platform to support...
New World of Digital Recruiting: Chatbots, Videos and Social Media
Aug 23 2018 // Long gone are the days when employees printed their resumes and cover letters on fancy paper, worried about choosing the proper font, and put both documents in the mail. The idea of employers printing paper job...
Missouri Insurance Department: Medical Professional Liability Insurers Saw Tiny Profit in 2017
Aug 22 2018 // In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net...
The Hartford to Acquire Specialty Insurer Navigators in $2.1 Billion Deal
Aug 22 2018 // The Hartford Financial Services Group has agreed to acquire specialty insurer The Navigators Group in a transaction that values Navigators at approximately $2.1 billion. Under the terms of the agreement, Navigators...
Run-Off Venture Targets Florida Auto Insurer Peachtree Casualty for First Acquisition
Aug 22 2018 // International insurance and reinsurance company DARAG and U.S.-based acquisition specialist SOBC have formed a joint venture with SOBC DARAG in Delaware to support DARAG’s expansion into the U.S. and...
High-Net Worth Insurer Vault Enters South Carolina
Aug 22 2018 // Vault, an insurer focused on the high net-worth personal insurance market, has officially opened for business in South Carolina. Vault offers insurance coverage and services for high-value homes, art, jewelry, cyber and...
California Commissioner OKs State’s First Insurtech Title Insurer
Aug 21 2018 // California Insurance Commissioner Dave Jones has approved a license for States Title, the first insurtech title insurer licensed and domiciled in California. States Title Insurance Company of California will use...
UK Insurers Push Ahead with Brexit Plans in Absence of Trade Deal: A.M. Best Report
Aug 21 2018 // In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit,...
Lafreniere Joins Slice Labs as Chief Growth Officer to Work with Insurers
Aug 21 2018 // On-demand insurance platform Slice Labs Inc. has hired Philippe Lafreniere as chief growth officer to work with carriers on the development of digital insurance products serving business and consumers. Lafreniere brings 25...
A.M. Best Upgrades Ratings for Palisades Group, High Point Homeowners Group
Aug 20 2018 // Plymouth Rock Assurance has announced that A.M. Best Rating Services Inc. upgraded the financial strength ratings of the Palisades Group and High Point Homeowners Group to A- (Excellent). In addition, their long-term...
As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.
Aug 20 2018 // Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study...
China’s Online Insurer ZhongAn to Get Investment from SoftBank for Overseas Growth
Aug 20 2018 // ZhongAn Online P&C Insurance Co. Ltd., the first internet-only insurer in China, announced its subsidiary ZhongAn International will receive a strategic investment from SoftBank Vision Fund, which will support the...
