Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
South Carolina Insurance Head Issues Emergency Orders for Storm Recovery
Oct 13 2015 // The South Carolina Department of Insurance (SCDOI) has issued two bulletins to insurers in an effort to aid with storm recovery efforts in the state. South Carolina Insurance Director Raymond Farmer issued an emergency...
Insurance Rules For Valuing Damaged Or Destroyed Property
Oct 13 2015 // Replacement cost does not mean what the client believes or has been told. Insureds assume replacement cost translates into new stuff for old junk – because agents have told them that’s how it works. Well, to be...
Chinese Insurers Seek Strategic Tie-Ups, M&As to Tap Western Expertise
Oct 13 2015 // Chinese insurers are pursuing strategic tie-ups and outright mergers and acquisitions to tap Western expertise. They are keen for knowledge on products, pricing and technology as a nascent Chinese market for health and...
A.M. Best Trend: Negative Insurer Ratings Outnumber Positive in 2015 First Half
Oct 12 2015 // The U.S. property/casualty (P/C) industry’s rating activity over the first half of 2015 turned negative as downgrades and negative outlooks outpaced upgrades and positive outlooks, according to A.M. Best. This...
Insurers Pulling Policies Out of Exchange a Problem for MNsure
Oct 11 2015 // Minnesota insurers have routed thousands of customers away from MNsure, a financial boon for the companies but one that creates enrollment and revenue headaches for an exchange already confronting concerns about long-term...
FERMA Forum Focuses on ‘Great Difficulties’ in an Ever Riskier World
Oct 9 2015 // The FERMA Forum differs from the Reinsurance Rendezvous in Monte Carlo, as it is mainly attended by corporate risk managers, rather than reinsurers and brokers. This year, however, two overriding concerns were uppermost in...
Insurers Bring Calm After the Storm as South Carolina Recovery Efforts Begin
Oct 8 2015 // This aerial photo show flooding around homes in the Carolina Forest community in Horry County, between Conway and Myrtle Beach, S.C. The Carolinas saw sunshine Tuesday after days of inundation, but it could take weeks to...
Waiting List for Insurers to Get Seats on Lloyd’s Underwriting Floor Hits Record
Oct 8 2015 // The waiting list for an insurer to get a spot on the underwriting floor of Lloyd’s of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd’s has requests for...
Iowa Insurer Wellmark to Participate Health Exchange in 2017
Oct 7 2015 // Iowa’s dominant health insurer has agreed to start selling policies for 2017 that will qualify for subsidies under the Affordable Care Act, the company announced. Wellmark Blue Cross & Blue Shield has not...
UK Insurers & Banks Must Appoint Whistleblower ‘Champion’ in UK Rules
Oct 7 2015 // UK banks and insurers must appoint a senior manager to “champion” internal whistleblowers as regulators attempt to protect tipsters who come forward with evidence of illegal conduct. The U.K. Financial Conduct...
Japan Post’s IPO Listings – Which Include Insurer Unit – Could Raise Nearly $12B
Oct 7 2015 // State-owned Japan Post on Wednesday set indicative price ranges for a trio of initial public offerings in what it hopes to make a ‘must-have’, $12 billion privatization, Japan’s biggest in three...
Florida Massage Therapist Arrested for PIP Fraud Against Multiple Insurers
Oct 7 2015 // The Department of Financial Services’ Division of Insurance Fraud (DIF) announced the arrest of John Alexander Fraga (aka Juan Alejandro Fraga) for his involvement in the alleged billing of more than $40,000 to...
Delaware Bans Use of Price Optimization in Insurance Pricing
Oct 6 2015 // Delaware has issued a bulletin prohibiting the use of price optimization in insurance pricing. The Delaware Department of Insurance said in its Bulletin No. 78 on Oct. 1 that “while price optimization has no...
New York AG Schneiderman, EBSA Agree to Joint Insurer Oversight
Oct 6 2015 // New York’s Attorney General Eric Schneiderman and the federal Employee Benefits Security Administration have agreed to share information and address violations of laws covering health insurance offered as worker...
South Carolina Insurance Director: Insurers Ready for Claims from ‘Devastating’ Storm
Oct 5 2015 // The insurance industry is bracing itself for an expected onslaught of claims in the wake of what South Carolina officials are calling a 1 in 1,000 year storm. “This is an extremely devastating event,” said...
A.M. Best: Republic Underwriters Insurance Co. Ratings Under Review
Oct 5 2015 // A.M. Best has placed under review with positive implications the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Dallas-based Republic Underwriters Insurance Co....
Insurers Say Trans-Pacific Pact Important for Industry Growth, Jobs
Oct 5 2015 // U.S. property/casualty insurers are welcoming the news that the Trans-Pacific Partnership (TPP) parties have reached an agreement. Although details of the pact are unknown, the U.S. insurers say they believe the agreement...
Crisis Services Top Insurers’ Cyber Claims Payouts; Average Claim at $674K
Oct 5 2015 // New claims costs data reveal a wide discrepancy on costs associated with cyber losses. More than $75.5 million has been spent on cyber claims losses as reported in the latest cyber claims study published by NetDiligence, a...
Insurers Respond Slowly to Growing Demand for Cyber Insurance: Timetric Report
Oct 5 2015 // The cyber risk insurance market is experiencing rapid development, with the size of global gross written premiums growing from US$850 million in 2012 to an estimated US$2.5 billion in 2014, according to a new report by...
A.M. Best Affirms Zurich Insurance Ratings; Outlook Negative on Expected Losses
Oct 5 2015 // A.M. Besthas affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” while at the same time revising the outlook to negative from stable forZurich Insurance Company...
