Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Strong Q1 Net Income of $1.1B
May 16 2024 // Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024....
Maine OKs 15.7% Rate Cut for Its Biggest Workers’ Compensation Insurer, MEMIC
May 16 2024 // The Maine Bureau of Insurance has approved a 15.7% average rate reduction in workers’ compensation insurance premiums for Maine Employers’ Mutual Insurance Co. (MEMIC), the largest workers’ compensation...
Buffett’s Berkshire Reveals $6.7 Billion Stake in Insurer Chubb
May 16 2024 // Warren Buffett’s Berkshire Hathaway Inc. unveiled a $6.7 billion stake in insurer Chubb Ltd., ending months of suspense over its mystery position in a financial firm, previously kept concealed in regulatory...
Insurance Companies Feeling the Pressure in Iowa and the Midwest
May 15 2024 // A New York Times article this week reported troubles in Iowa and insurers pulling up stakes from the Hawkeye State, leaving the homeowners’ insurance market. The exits were prompted by horrendous financial results...
Insurer Bowhead Specialty Seeks About $491M Valuation in IPO
May 13 2024 // Insurer Bowhead Specialty is targeting a valuation of about $491 million in its initial public offering in the United States, as it joins a slew of companies preparing to list amid a rebound in the capital markets. The...
Insurers Like California Governor’s Statement About Expedited Rate Filings
May 10 2024 // Insurers are applauding a move by California Gov. Gavin Newsom to try and expedite the insurance rate filing process. Newsom made the proposal while discussing the state’s budget. It was mentioned in a press...
Personal Auto Insurers Have Edge on Innovation: AM Best
May 10 2024 // After two years of challenges for personal auto insurers, rating agency AM Best delivered a positive assessment: U.S. personal auto insurers are the furthest ahead when it comes to innovation. Personal auto insurers’...
Three Insurers Reject Chevron’s $57 Million Claim for Iran Oil Seizure
May 9 2024 // Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S. court in California. The Chevron-chartered tanker...
Nevada Launches Home Insurance Tool to ID Carriers by ZIP
May 9 2024 // The Nevada Division of Insurance is launching a web-based tool that enables Nevada consumers to identify insurance carriers that are currently accepting home insurance applications by specific ZIP code. The NVDOI said its...
All 50 States in Just 2 Minutes: How Service Insurance Companies Went National in No Time
May 9 2024 // This post is part of a series sponsored by AgentSync. When Service Insurance Companies decided to expand nationwide, what was once a mildly cumbersome task (for just the state of Texas), morphed into a Herculean challenge....
Maui Sues Cell Carriers Over Failure of Wildfire Warning Alerts During Outage
May 8 2024 // Had emergency responders known about widespread cellphone outages during the height of last summer’s deadly Maui wildfires, they would have used other methods to warn about the disaster, county officials said in a...
Delos and Lloyd’s Insurer to Expand Vacant Home Insurance in California
May 6 2024 // Delos Insurance Solutions plans to offer wildfire insurance to more California policyholders with vacant properties. Delos is expanding coverage availability through a partnership with certain underwriters at Lloyd’s...
Fitch: U.S. Cyber Insurers Saw Strong Profits, Slowdown in Premium Growth in 2023
May 6 2024 // The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings...
Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse
May 2 2024 // Chubb, which had insured Baltimore’s Francis Scott Key Bridge, is getting ready to pay $350 million to the state of Maryland, in what could be the first major payout tied to the collapsing of the bridge in March. The...
Lloyd’s Insurers Don’t Expect Large Claims From Baltimore Bridge Collapse
May 2 2024 // Lloyd’s of London insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore’s Francis Scott Key Bridge in March that caused widespread disruption, they said on...
Growing Wildfire Risk Leaves States Grappling With How to Keep Insurers From Fleeing
May 1 2024 // Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news—their property insurance won’t be renewed because their insurance company has deemed the risk...
Hack That Paralyzed US Health Care Turns Up Scrutiny on Insurer
Apr 30 2024 // When a cyberattack on Change Healthcare paralyzed much of the US health-care system, some lawmakers saw it as proof its parent company, UnitedHealth Group Inc., was too big. UnitedHealth Chief Executive Andrew Witty saw it...
The 6 Stages of Compliance Grief: How Top Insurance Carriers Are Revolutionizing Compliance Management with AgentSync
Apr 30 2024 // This post is part of a series sponsored by AgentSync. Does your organization have a compliance problem? It’s OK. We won’t tell anyone. If you’re not entirely sure, we’ve got a way to check your...
Fla. Regulators’ Effort to Remove Insurer Execs May Not Pass Constitutional Muster
Apr 30 2024 // Current and former leaders with Florida property insurers have had some strong reactions to state regulators’ recent efforts to oust company executives who previously helmed now-insolvent carriers. Some have called...
Key Insurer Says Russia Oil Price Cap Increasingly Unenforceable
Apr 30 2024 // A Group of Seven-imposed cap on the price of Russia oil is becoming increasingly unenforceable, an organization at the heart of the global insurance industry said, offering one of the most direct criticisms yet of measures...
