Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Anbang Insurance to Acquire Allianz’s South Korea Operations
Apr 6 2016 // Anbang Insurance Group Co., which walked away from a bid to acquire Starwood Hotels & Resorts Worldwide Inc. last week, has agreed to buy Allianz SE’s operations in South Korea. The Chinese insurer will purchase...
Commercial Insurers Moderated Rate Cuts Slightly in March: MarketScout
Apr 5 2016 // Commercial insurers eased up slightly on rate cutting in March, according to the MarketScout barometer for the month. After three straight months of price cuts averaging 4 percent, U.S. commercial property, inland marine,...
UK’s Flood Re Launches to Bring Affordable Flood Cover to Homeowners
Apr 4 2016 // The U.K.’s new joint industry and government sponsored reinsurance scheme for flood risk began operating today (April 4). Designed to help provide access to affordable flood insurance cover for households at the...
U.S. Must Lower Corporate Taxes to Keep Insurers: Travelers CEO Schnitzer
Apr 4 2016 // Alan Schnitzer, the new chief executive officer of insurer Travelers Cos., called on U.S. lawmakers to reduce corporate taxes or risk harming business in country. “We continue to see the U.S. corporate income tax...
Watford Re Forms E&S Insurer Watford Specialty, Partnering with Arch
Apr 4 2016 // Watford Re Ltd. has formed a new excess and surplus lines insurer called Watford Specialty Insurance Co. (WSIC), based in Morristown, N.J. WSIC’s lines of business “will be similar to what we’ve been...
Massachusetts Court Rules on ‘Equitable Contribution’ Case
Apr 4 2016 // Massachusetts’ top court ruled in March that a workers’ compensation insurer that has paid benefits has a right to pursue “equitable contribution” from a second insurer that also provided coverage...
Growth in Cyber Coverage Expected as Underwriting Evolves
Apr 4 2016 // With cyber insurance premiums expected to grow from around $2 billion in 2015 to an estimated $20 billion or more by 2025, insurers and reinsurers are continuing to refine underwriting requirements, according to industry...
Prepare for Disruption in High Net Worth Insurance Segment
Apr 4 2016 // ACE’s $28.3 billion purchase of Chubb will create a major disruption in the luxury insurance market. When the integration of the two insurers is complete, the new company is anticipated to control approximately $6...
ISO to Collect Terrorism Insurance Data for Treasury
Apr 4 2016 // The property/casualty insurance data and rating organization ISO will collect and help analyze terrorism data this year for the U.S. Department of the Treasury, the federal agency charged with gauging the effectiveness of...
Uncertainties Outweigh Growth Benefits When P/C Insurers Take On Too Much Cyber Risk, Rating Agency Warns
Apr 4 2016 // If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty...
Nebraska Letter Carrier Awarded $25K after Dog Bite
Apr 3 2016 // A letter carrier has won $25,000 from the owners of a dog that bit him in Grand Island, Neb. The Grand Island Independent reports that a Hall County jury awarded the damages to Seth Gruhn, who’d sued David Hernandez...
EU Lowers Insurers’ Capital Requirements to Spur Infrastructure Investments
Apr 1 2016 // The European Union lowered capital requirements on insurance companies to spur investment in long-term infrastructure projects as policy makers struggle to revive the bloc’s flagging economy. Risk charges for...
The One Issue EVERY Insurance Carrier Should Agree To – Taking Care of the ‘Little Guy!’
Apr 1 2016 // I chose April 1 to publish this article because so many are expecting a joke; well this is no joke. In fact, I can’t be more serious. Three days ago I published an article about the “primary and...
Climate Change Easy Bet to Be Hot Topic at Insurance Regulators’ Meeting
Mar 31 2016 // Mark down the Climate Change and Global Warming Working Group as the odds-on favorite committee to produce the most interesting chatter during the National Association of Insurance Commissioners meeting next week in The...
Former Kansas Insurance Company Employee Sentenced for Embezzlement
Mar 31 2016 // A former Topeka insurance company employee has been sentenced to a year and a day in federal prison for embezzlement. The U.S. attorney’s office says 47-year-old Erin Rebecca Thomas also was ordered to pay $215,000...
MetLife Victory Could Push AIG, Pru to Fight Systemic Risk Designations
Mar 31 2016 // After regulators slapped the too-big-to-fail label on MetLife Inc., Chief Executive Officer Steve Kandarian had several responses. One was to challenge government watchdogs in court — a move shunned by other insurers...
Massachusetts Court Rules on ‘Equitable Contribution’ Case
Mar 30 2016 // Massachusetts’ top court ruled this month that a workers’ compensation insurer that has paid benefits under a policy has a right to pursue “equitable contribution” from a second insurer that also...
Split Supreme Court in Search of Birth Control Benefit Compromise
Mar 30 2016 // The U.S. Supreme Court called for additional briefing in a divisive clash over contraceptives and Obamacare, issuing an unusual order that suggests at least one justice may be eyeing a possible compromise. The order comes...
Self-Driving Cars to Create Long Term Challenges for Auto Insurers: Moody’s
Mar 29 2016 // Accident avoidance features in vehicles, such as automatic braking, adaptive cruise control, and lane departure prevention, are becoming more prevalent and will lead to lower accident frequency in the next five-to-10...
The ‘Primary and Noncontributory’ Tool Or Why this Requirement Should Disappear
Mar 29 2016 // Upper tier contractors seek to avoid, through the use of various transfer mechanisms, the financial costs that can result from bodily injury or property damage to a third party caused or contributed to by other parties...
