Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
2 Ohio Property/Casualty Insurers Approved to Operate in Arkansas
Apr 27 2016 // Arkansas Insurance Commissioner Allen Kerr has approved Ohio-based All America Insurance Co. (AAIC) and Central Mutual Insurance Co. (CMIC) to do business in the state. The companies now have the authority to offer...
Global Insurance Fintech Investment Grew by 237% in 2015: Accenture Research
Apr 27 2016 // While insurance historically has been a laggard in the fintech race, it is increasingly a high-growth investment area in the fintech field, according to research from Accenture. Accenture’s fintech research reveals...
Ratings of State Automobile Mutual Insurance Co. and Subs Affirmed
Apr 26 2016 // A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of Columbus, Ohio-based State Automobile Mutual Insurance Co. (State Auto) and its...
AIG, Hamilton, Two Sigma to Launch Small-Medium Business Insurance Joint Venture
Apr 26 2016 // American International Group, Bermuda-based Hamilton Insurance Group and affiliates of hedge fund firm Two Sigma Investments said they have agreed to create a technology-enabled insurance platform for sales to the small to...
Assurant to Pick Up Policies as Nationwide Exits Federal Flood Insurance Program
Apr 26 2016 // Nationwide will start winding down its status this May as a “Write Your Own” carrier within the federal government’s National Flood Insurance Program. Assurant said it formed an agreement with the insurer...
Fallout from Travelers CGL Cyber Ruling: Insurance Buyers and Sellers Beware
Apr 25 2016 // Experts are cautioning both insurance buyers and sellers not to overreact to the recent federal court decision finding data breach defense coverage under a commercial general liability (CGL) policy. Experts are cautioning...
Key Florida Players to Highlight Importance of Catastrophe Reinsurance
Apr 25 2016 // Although the role of catastrophe reinsurance in a wind exposed region is intuitively obvious to an insurance professional and most insurer rating agencies, the need for transparency, education and open dialogue on this...
