Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Confusing, Costly Cyber Policies Create Obstacles to Market Growth: Deloitte
Mar 3 2017 // Despite the rising profile of cyber risks, buyers have failed to widely embrace cyber coverage. At the same time, insurers generally have remained cautious about writing the coverage on a large scale basis. A recent report...
Texas Businesses Line Up Against Lt. Governor’s High-Priority Insurance Bill
Mar 2 2017 // Major business interests are lining up against one of Lt. Gov. Dan Patrick’s top priorities — a bill that would make it harder for Texans to force their insurance companies to pay up when calamity strikes. Patrick...
Pennsylvania Court Approves Liquidation of Two Insurance Companies
Mar 2 2017 // The Commonwealth Court in Pennsylvania has approved petitions to liquidate Penn Treaty Network America Insurance Company and American Network Insurance Company, with policyholder claims set to be paid through the state...
Texas High Court Finds for Insurer in D&O Coverage Dispute
Mar 1 2017 // The Texas Supreme Court recently ruled in favor of an insurer in a case that hinged on the applicability of an insured-v.-insured exclusion in the carrier’s directors and officers (D&O) liability policy. The...
On-Demand Homeshare Insurer Slice Enters 5 More States
Mar 1 2017 // Slice Labs Inc., a technology startup featuring an on-demand insurance platform for people who share or rent their homes, is now offering its pay-per-use insurance coverage on a limited basis in five additional states:...
UK Insurers’ Reserve Strengthening Likely After Personal Injury Discount Rate Change: A.M. Best
Mar 1 2017 // The earnings of U.K. insurers likely will be hit by reserve strengthening following the U.K. government’s announcement of a dramatic cut to the discount rate used to calculate lump-sum personal injury compensation,...
State Farm Lost $7 Billion on Auto in 2016
Mar 1 2017 // State Farm joined the ranks of property/casualty insurers reporting challenges in their auto insurance line of business. State Farm said it lost $7 billion on its auto insurance underwriting in 2016. The State Farm...
Nigeria Insurers Receptive to M&A as Economy Contracts
Feb 28 2017 // Nigeria’s insurance industry is poised to enter a period of consolidation as companies struggle to raise cash to meet new regulatory requirements amid the worst economic contraction in more than two decades. With...
Insurers Caught In Municipal Bond Slump While Awaiting Trump Tax Plan
Feb 28 2017 // The disruption in the municipal bond market is punishing some of the most loyal buyers of the debt. The insurance industry has seen more than $5 billion of gains erased on state and local bonds after Donald Trump’s...
Trump Seeks Help from Insurers, Governors in Overhauling Health Insurance
Feb 28 2017 // President Donald Trump sought on Monday to bring the nation’s largest insurance companies on board with his plans to overhaul Obamacare, saying their help was needed to deliver a smooth transition to the...
Berkshire Hathaway’s Insurance Keeps Growing and Hiring Despite Auto, Reinsurance Blips
Feb 27 2017 // Even though Berkshire Hathaway’s GEICO chalked up an underwriting loss in the fourth-quarter 2016, with full-year profit coming in basically even with 2015, the company is poised to take advantage of competitor...
Texas Bill Seeks Limits on Hailstorm Lawsuits
Feb 24 2017 // A bill has been filed in the Texas Senate that seeks to curb what the authors of the legislation say is a skyrocketing number of lawsuits filed against insurers for bogus or inflated hailstorm claims. Senate Bill 10, filed...
Jury: Former Oklahoma Legislator Must Pay Insurer $4.3M in Defamation Case
Feb 24 2017 // A Tulsa, Okla., jury has awarded an insurance company and its CEO $4.3 million in a defamation case. The Oklahoman reports former state legislator and former First Trinity director Wayne Pettigrew left First Trinity...
GMI Insurance Taps Falls Lake as Primary Carrier for Auto Programs
Feb 24 2017 // GMI Insurance, a program administrator specializing in commercial auto exposures, has added Falls Lake Insurance Companies as the new primary carrier for its auto programs. Effective Feb. 1, GMI Insurance programs offers...
AIG Among ‘Too-Big-to-Fail’ Insurers Trying to Assess Path Forward Under Trump
Feb 24 2017 // Insurance giant American International Group sees “considerable uncertainty” about U.S. regulations that deem non-bank financial institutions as being too big to fail, given the recent change in White House...
Helping Small Insurers Sell Cyber Coverage to Small Businesses
Feb 24 2017 // With the global cyber insurance market expected to reach $14 billion by 2022, according to Allied Market Research, it’s no wonder more insurers are looking to offer cyber coverage. But small insurers have been...
Europe’s Windstorm Egon to Cost Insurers an Estimated US$223.3M: PERILS
Feb 23 2017 // The initial estimate of the insured property market loss for extra-tropical cyclone Egon, which hit France and Germany in January, is €212 million (US$223.3 million), according to PERILS, the independent Zurich-based...
China Regulator Puts Brakes on Insurers’ 3-Year, $100-Billion Buying Spree
Feb 23 2017 // A regulatory clampdown on speculation by insurers and new limits on outbound capital flows are causing one of China’s most acquisitive industries to hit the brakes. Chinese insurers, after announcing almost $100...
EU Solvency II Rules Need ‘Tweaks,’ Not Overhaul: Bank of England
Feb 23 2017 // EU capital rules for insurers need some tweaks but are not a deterrent to investment in infrastructure as some insurers’ claim, the Bank of England said on Wednesday. Officials from Aviva and Legal & General, two...
The Hidden Cost of Bundling Insurance Policies
Feb 22 2017 // Marketers love to bundle products and for good reason. Bundling encourages consumers to buy more. However, new research suggests that it’s not quite that simple. While bundling gets buyers to buy more, it can also...
