Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
House Committee Advances 2 Flood Insurance Bills; More to Come
Jun 16 2017 // The House Financial Services Committee on Thursday passed two bills to reform the National Flood Insurance Program (NFIP). One is a broad reform proposal that seeks to encourage more private insurance and move the program...
Iowa May Be First State with No Health Insurers on Exchange
Jun 16 2017 // Iowa could be the first state in the nation with no health insurance company willing to offer policies on its Affordable Care Act exchange next year unless President Donald Trump’s administration approves a stopgap...
British Insurer Aviva to Launch Small Business Cyber Product
Jun 16 2017 // British insurer Aviva plans to launch a new product to cover small and medium-sized businesses against cyber attacks later this year as part of an expansion of its specialist insurance division, its chief executive for UK...
Insurers Claim They’re Off The Hook for Duke Energy’s N.C. Coal Ash Spill Claims
Jun 16 2017 // Dozens of insurance companies say they’re not obligated to help pay for Duke Energy Corp.’s multi-billion dollar coal ash cleanup because the nation’s largest electric company long knew about but did...
House Panel Gets Down to Business on Flood Insurance Proposals
Jun 15 2017 // House lawmakers are weighing seven proposals to renew and reform the federal flood insurance program, an area where there is a good amount of bipartisan agreement that something should be done and even on what to do. The...
Insurers Adapt Terrorism Policies with Loss of Attraction, Violent Acts, Other Coverages
Jun 15 2017 // The changing nature of attacks in Western cities has led insurers to offer new policies, from straightforward cover for business lost due to police cordons to more risky compensation for declines in tourism. Terrorism...
Florida Court Rules Property Insurer Liable for Shortfall in Policy Benefits Promised by Agent
Jun 15 2017 // A Florida state Court of Appeal reversed the dismissal of a claim for negligent procurement of property insurance, because, when placing the coverage, the insurer’s agent failed to account for a reduction in...
With Insurer Backing, Home Sensor Startup Notion Raises $10 Million
Jun 14 2017 // Insurer XL Catlin’s venture capital arm is among firms helping to back a $10 million financing for Notion, an Internet of Things-related startup focused on a low-cost remote smart home sensor for home security. XL...
In ‘Classic’ Soft Market Battle, Brokers and Carriers Attack Each Other
Jun 14 2017 // Chief executive officers of property/casualty insurance carriers and insurance brokers called each other out last week for engaging in activities they said are “classic signs of a soft market.” During a session...
Idaho Woman Wants Compensation from Insurer for Leveled Home
Jun 14 2017 // An Idaho woman rented her home to a man she thought had plans to buy it. He instead demolished it. Shammie Fisher is fighting in court to get compensation for her ruined Boise home. Idaho Supreme Court sided with Fisher in...
Chairman Wu of China’s Anbang Insurance ‘Unable to Fulfill Duties’
Jun 14 2017 // Anbang Insurance Group, one of China’s most aggressive buyers of overseas assets, said on Wednesday its chairman was temporarily unable to fulfill his duties, just over a week after denying reports he had been barred...
MAPFRE Gains 51% of Indonesian Insurer ABDA to Expand in South East Asia
Jun 13 2017 // Insurer MAPFRE, which already owned 31 percent of the insurer, has gained 51 percent and effective control of Indonesian insurance company PT Asuransi Bina Dana Arta Tbk (ABDA). The transaction was closed at a price of 90...
Maryland’s Frederick Mutual Insurance Company Promotes Roso
Jun 13 2017 // Frederick Mutual Insurance Company (FMIC), a Frederick, Md.-based provider of insurance coverage to homeowners and businesses in the states of Maryland and Pennsylvania through a network of independent agents, has promoted...
Burand’s State of P/C Insurance Industry, Part 1: Agencies Facing Paradigm Shift
Jun 13 2017 // Editor’s Note: This is the first of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s...
Lloyd’s Urges Insurer Investment in Natural Habitats for Flood Protection
Jun 13 2017 // Natural coastal habitats such as mangroves, coral reefs and salt marshes protect communities more effectively against coastal storms than seawalls, and insurers should consider this when pricing flood risk, Lloyd’s...
Washington County Insurer to Pay $2.25M Wrongful Conviction Settlement
Jun 12 2017 // The insurance company for Spokane County, Wash. will pay $2.25 million to settle a federal civil rights lawsuit that contended the Spokane County Sheriff’s Office engaged in witness-tampering and recklessness to...
How and Why More Insurers Are Turning to Bots
Jun 12 2017 // As more bots handle claims and perform underwriting tasks, should human employees be concerned? Human industry experts say there’s no need to worry. Insurers in the U.S. and overseas are exploring the use of chatbots...
N.C. Lawmakers Again Scuttle Bill to Reform Rate Bureau
Jun 11 2017 // Most of the auto insurance industry has for several years been trying to convince North Carolina’s lawmakers to eliminate the last vestiges of the once-common “rate bureau” system, under which the...
U.S. Storms in May to Cost Insurers $3B; Economic Costs Total $4B: Aon Report
Jun 9 2017 // Total aggregated economic losses from severe weather in the U.S. during May was set to exceed US$4.0 billion, while public and private insurers face a combined payout approaching an estimated US$3.0 billion, according to...
Climate Change Advocates Galvanized by Trump Decision
Jun 8 2017 // You’d think climate change activists now living under a new reality created by a U.S. president making good on his promise to withdraw the nation from the Paris accord on global warming would feel at least a bit...
