Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Texas Issues Price Comparison Data Call to Auto/Residential Insurers
Jul 28 2020 // The Texas Department of Insurance (TDI) has issued a data call to insurance companies writing personal automobile and residential property policies in the state. The department said the information is needed for price...
Credit Scoring Battle Brewing Between Washington Commissioner and Insurer Groups
Jul 27 2020 // Insurer groups are taking issue with push by Washington Insurance Commissioner Mike Kreidler to prohibit insurers from including information from consumer credit histories in the insurance scores used to calculate premiums...
Pathfinder/LL&D Insurance Group Joins Texas’ Insurors Group
Jul 27 2020 // Insurors Group LLC, an alliance of independent insurance agents in Texas, has added Pathfinder/LL&D Insurance Group LLC located in Houston, as a member agency. Led by CEO Scott West, Pathfinder/LL&D Insurance Group...
Germany to Reform Regulation of Insurers, Banks, Payment Firms on Wirecard Scandal
Jul 27 2020 // German Finance Minister Olaf Scholz intends to unveil a reform of the government’s financial oversight, as the widening scandal over the collapse of Wirecard AG reaches the highest levels of Chancellor Angela...
South African Insurer Santam to Pay Virus Relief to Clients with Biz Interruption Cover
Jul 27 2020 // South Africa’s largest property and casualty insurer will pay as much as one billion rand ($60 million) in relief to clients with business-interruption cover hit financially by the coronavirus pandemic. Santam Ltd....
Workers’ Compensation Rates Won’t Be Adjusted for Coronavirus Experience This Year
Jul 27 2020 // The workers’ compensation line is unlikely to generate a profit this year and may not recover in 2021, an insurance industry economist said during a webcast Thursday. Steven N. Weisbart, senior vice president and...
Court Affirms Class Action Suit Against State Farm in Kentucky Claim Underpayment Case
Jul 27 2020 // A federal appellate court has cleared the way for a class-action lawsuit to proceed against State Farm Fire and Casualty Insurance Co. that may force the insurer to correct underpayments paid to some 65,000...
Tesla Invites Actuaries to Help It Create a ‘Revolutionary’ Insurance Company
Jul 24 2020 // Tesla, which has been testing an insurance product for its drivers in California, is preparing to build an insurer, one CEO Elon Musk says will be “revolutionary.” And he’s inviting actuaries to join his...
Geico Sued for Alleged ‘Woefully Inadequate’ Coronavirus Auto Insurance Discount
Jul 24 2020 // Berkshire Hathaway’s Geico, the country’s second largest auto insurer, is being targeted by a potential class action for allegedly overcharging its policyholders during the pandemic. A lawsuit filed in federal...
The Central Insurance Companies Promotes Zollner to Northeast Regional VP
Jul 24 2020 // The Central Insurance Companies has promoted Matt Zollner to vice president of the Northeast regional office. In his new role, Zollner will be relocating to the Boston area this fall. He will replace Vice President Jocelyn...
Insurers Exploring ‘New World’ of Police Officer Professional Liability
Jul 24 2020 // U.S. insurers and brokers are starting to craft professional liability coverage for police officers, spurred on by signs that policymakers in some cities and states want to use a financial stick to curb police...
Lloyd’s Insurer Beazley Reports 1st Half Loss of $13.8M on Mounting COVID-19 Claims
Jul 23 2020 // British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural...
Zurich Insurance Decides Not to Renew Cover for Canada’s Trans Mountain Oil Pipeline
Jul 23 2020 // Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous...
Northeast Insurer Plymouth Rock Assurance Launches Umbrella Coverage
Jul 23 2020 // Plymouth Rock Assurance, an auto and home insurance provider in the Northeast, has launched a new umbrella insurance product for customers across the six states in which it does business. Plymouth Rock’s new umbrella...
Committee Recommends No Rate Hike for Texas Windstorm Insurer
Jul 23 2020 // The Actuarial and Underwriting Committee of Texas’ insurer of last resort for wind and hail coverage for properties in the state’s coastal counties voted on July 21 to recommend a 0% rate increase to its board...
U.S. Cyber Insurers Face Changing Landscape; Top 20 Cyber Insurers
Jul 22 2020 // Cyber insurers have been enjoying a profitable run for several years but are now facing a changed risk landscape with data breaches, ransomware attacks, insurance claims and overall threat awareness increasing. In a...
Inconsistent Data Hinders Climate Risk Comparisons for Insurers, Banks: Regulator
Jul 22 2020 // Comparing how banks and insurers from different countries cope with climate change is being hampered by a lack of consistent data, the Financial Stability Board said on Wednesday. Regulators are asking financial firms to...
Liberty Mutual Loses Bid to Charge Employer for Claims Paid from Exempt Workers
Jul 22 2020 // A workers’ compensation insurer cannot charge an employer an extra $1.7 million in premiums for the risk presented by employees who were exempt from coverage under Iowa’s workers’ compensation law, a...
Insurer Beazley Launches Cyber and Financial Lines Insurance in Colombia
Jul 22 2020 // Specialist insurer Beazley has launched a suite of cyber and financial lines insurance products to protect against the risks facing businesses and senior executives in Colombia. Beazley has tailored an information security...
Appeals Court Rejects Florida Hotel’s Coverage Interpretation in Suit Against Insurer
Jul 22 2020 // A recent opinion by the Eleventh Circuit Court of Appeals involving a case against the insurer of a Florida hotel could clarify an issue of sublimits and have a significant impact on how policies are written in the future,...
