Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Specialist Lloyd’s Insurer Marketform Hires Kelsh to Build Broker Relationships
May 6 2016 // Marketform, the London-based specialist Lloyd’s insurer, has appointed Martin Kelsh to the newly created role of production & distribution director. Kelsh joined Marketform on May 3 to develop and enhance the...
Health Insurers Next on Justice Department’s Antitrust Agenda
May 5 2016 // Bill Baer was the ultimate Washington antitrust insider when he came to the Justice Department in 2013: At law firm Arnold & Porter LLP, he’d counseled the biggest U.S. companies, including deal machine General...
Texas Insurer Group Awards Scholarships to 27 Students
May 5 2016 // The Insurance Council of Texas (ICT) Education Foundation recently awarded a total of $32,000 in academic scholarships to 27 insurance and risk management students at six Texas universities. The students attend...
Vermont Issues Bulletin on ‘Non-Cumulation’ Policy Provisions
May 4 2016 // The Vermont Department of Financial Regulation (DFR) has issued a bulletin reminding carriers that “non-cumulation” policy provisions and endorsements in occurrence-based liability policies are not permissible...
Japanese Insurers Expected to Continue U.S. Spending Spree: Investment Bankers
May 4 2016 // Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isn’t over yet, industry dealmakers said on Tuesday. Japan has a number of large, healthy insurers...
Public, Private Insurers Picking Up More of Opioid Drug Costs
May 3 2016 // According to a study released by Centers for Disease Control (CDC), consumer out-of-pocket spending on opioids has declined, with insurers picking up more of the tab. The study found that consumer out-of-pocket spending on...
AIG Q1 Net Loss of $183M Tied to Hedge Funds, Energy Investments
May 3 2016 // American International Group Inc., the insurer that’s shrinking under pressure from activist shareholders, posted a third-straight unprofitable quarter on losses from hedge funds and declines in the value of other...
Special Report: Execs Warn of Impending Florida Market Crisis Over Water Loss Claims
May 3 2016 // Abuse of assignment of benefits (AOB) from water loss claims has become a full-blown Florida insurance crisis that will mean higher insurance rates next year and for the foreseeable future for every Florida policyholder,...
Greater New York Insurance Companies Expands to Maine Market
May 2 2016 // Greater New York Insurance Companies (GNY), a super-regional carrier in commercial property/casualty insurance, announced it will begin issuing policies in Maine beginning May. “Many New England business owners and...
5 Reasons the ‘Primary and Noncontributory’ Requirement is Unethical, Ironic and Ridiculous
May 2 2016 // Several weeks ago I released an article questioning the need for the “primary and noncontributory” (PNC) requirement found in most construction contracts. I followed that article with a piece stating that the...
Liability Insurers Win Right to Question NFL Executives, Doctors in Concussion Cases
May 2 2016 // National Football League executives may for the first time have to testify about what they knew of concussion risks after a judge cleared the way for questions from insurers who are suing to avoid paying more than $1...
Earthquake Insurance Rates a Concern in Oklahoma
May 2 2016 // Concerned about a lack of competition in the state’s earthquake insurance market, Oklahoma Insurance Commissioner John Doak has set a public hearing to investigate rising rates. The May 24 hearing will include data...
Who Moved Your Cheese? The End (for Now) of Market Cycles
May 2 2016 // The good news is that for the foreseeable future, with certain exceptions, you will not have to tell your clients their premiums are increasing 10 percent or more. Property/casualty carriers collectively, not necessarily...
Virginia Reminds Insurers: Rates, Rating Rules Must Be Cost-Based
Apr 29 2016 // Virginia Insurance Commissioner Jacqueline Cunningham has issued an administrative letter this month reminding insurers to review the rate standards outlined in Virginia Code § 38.2-1904 to ensure compliance. The...
New York: Health Insurers Must Pay for Maternal Depression Screening
Apr 29 2016 // New York state will soon require health insurers to cover depression screening for pregnant women and new mothers. The move follows a recommendation from a federal panel that insurers cover maternal depression screening...
Delaware Fines Insurers $83K for Market Misconduct
Apr 29 2016 // Delaware Insurance Commissioner Karen Weldin Stewart has fined insurance companies a total of $83,300 during the first quarter of 2016 for violating state insurance regulations. Fines generally result from a market conduct...
Large Insurers Eager But Cautious About Drone Insurance Market
Apr 29 2016 // A growing number of insurance companies envision a large, robust insurance market for liability and property coverage associated with drone use. However, many insurers currently are proceeding with caution in light of...
Oklahoma Commissioner to Insurers: Pay Roof Repairs that Meet Building Codes
Apr 29 2016 // In the midst of storm season, the Oklahoma Insurance Department (OID) is reminding insurance companies to cover roof repairs that meet state or local building codes. OID issued a bulletin to insurers on April 25 after...
CDI: Trucking Company Owners Cheated Workers’ Comp Carrier out of Millions
Apr 28 2016 // A pair of California trucking company owners were arrested for cheating their worker’s compensation insurer out of millions of dollars. Alvin Shin Chen, 54, and Fiona Xilin Chen, 46, both of La Cañada Flintridge,...
AAIS Offers Its First Personal Auto Program for Insurers; Includes 60 Endorsement Options
Apr 28 2016 // The property/casualty insurance advisory organization AAIS has unveiled its first standardized personal auto insurance program for use by insurers that it says is the first new auto program available to the industry in...
