Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Indiana Court: Insurers Off the Hook for Covering NCAA Athlete Aid Suit
Jul 21 2020 // An Indiana appeals court has sided with a group of insurers, saying they are not required to provide $25 million in excess coverage for an underlying lawsuit against the National Collegiate Athletic Association (NCAA) over...
January’s Hailstorms in Australia Cost Insurers an Estimated A$1.8B (US$1.3B): PERILS
Jul 21 2020 // The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that...
Mintz Adds Five to Insurance and Reinsurance Practice in Washington D.C., New York
Jul 20 2020 // Law firm Mintz has added a group of five practitioners to its Insurance and Reinsurance Practice. Deirdre G. Johnson, Paul W. Kalish, Suman Chakraborty and Ellen MacDonald Farrell joined as members, and Elaine Panagakos...
Update: COVID-19 Business Interruption Claims Take Center Stage in London Court Case
Jul 20 2020 // UK financial regulators took aim at insurers’ attempts to compare the coronavirus lockdown to government warnings on cigarettes and alcohol, telling a London court that businesses had no choice but to shut down...
China Regulator Raises Cap on Equity Investments Made by Domestic Insurers to 45%
Jul 20 2020 // China’s banking and insurance regulator said it was raising the cap on how much the country’s insurers can invest in equity assets, an effort trying to bring more long-term funds into the capital market. The...
Canadian Insurer Manulife Plans to Increase Diversity by 30% Within 5 Years
Jul 20 2020 // Manulife Financial Corp said on Friday it was making a push to increase the representation of minorities across its North American businesses, joining a host of companies that have pledged to improve racial diversity at...
Personal Lines Insurance Poised to Turn Profit in 2020 As Auto Claims Fall: Fitch
Jul 20 2020 // After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from...
China Takes Over Insurers, Other Firms Linked to Financier Missing Since 2017
Jul 17 2020 // Chinese regulators will assume control of nine financial firms that are linked to a financier who was taken from a hotel in Hong Kong by Chinese authorities in 2017 and hasn’t been seen in public since. Among the...
Coronavirus Claims of Estimated €80B Are ‘Manageable’ for Europe’s Insurers: Moody’s
Jul 17 2020 // The coronavirus outbreak has had an adverse, but manageable, impact on the European insurance sector, leading to a drop in company earnings rather than capital erosion, says Moody’s Investors Service in a...
Investors, Insurers Warned of Risk of U.S. Sanctions for Russian Pipeline Ties
Jul 17 2020 // U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage...
Insurers Shift Real Estate Investments from Offices to Warehouses
Jul 17 2020 // Global insurers want to increase investments in commercial warehouses as their stakes in office space become riskier because of employees working remotely during the novel coronavirus pandemic, Goldman Sachs Asset...
Insurers Score a Win in Texas Air Ambulance Fee Dispute
Jul 16 2020 // State law prevails in disputes between insurers and an air ambulance service over reimbursements under the Texas workers’ compensation system, the state’s highest court recently ruled. In Texas Mutual Insurance...
Houston Rockets Becomes First NBA Team to Sue Insurer Over Denied Covid-19 Claims
Jul 16 2020 // The Houston Rockets and billionaire owner Tilman Fertitta are suing their insurer for denying the National Basketball Association team’s bid to tap its business-interruption insurance policy over revenue losses from...
Swiss Insurers Oppose Tighter Immigration Rules, Says Swiss Re CEO in News Report
Jul 16 2020 // Switzerland’s insurance industry is against tightening the country’s immigration rules, a move that will be put to voters this year, Swiss Re Chief Executive Christian Mumenthaler told Handelszeitung...
CIA-Leavitt Insurance Agency Acquires Goetz Insurors in Colorado
Jul 15 2020 // CIA-Leavitt Insurance Agency has acquired Goetz Insurors in Fort Morgan, Colo. Terms of the deal were not disclosed. Goetz Insurors provides insurance to north eastern Colorado and offers an equine insurance program...
Washington Commissioner Tells Insurers It’s Time to Ban Credit Scoring
Jul 15 2020 // Washington Insurance Commissioner Mike Kreidler reached out to insurance company CEOs in a letter and urged them to stand behind their recent pledges to end discrimination and racial inequities by supporting his proposal...
Second Wave of Coronavirus Lockdowns Could Weaken Insurers’ Capital Buffers: S&P
Jul 14 2020 // Global insurers have proven resilient during the first wave of the COVID-19 pandemic, as their capital strength has helped stave off widespread downgrades; however, insurers’ capital buffers will erode through the...
U.S. Pressures Insurers, Certifiers, Shippers in Enforcing Tougher Sanctions on Venezuela
Jul 14 2020 // Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the...
Michigan Suit Says Insurer Owes Commercial Premium Refund Due to Virus
Jul 13 2020 // In a class action lawsuit, a Michigan restaurant and bar has challenged its insurer over commercial policy premium payments that covered the time it was forced to shut down during the COVID-19 pandemic. The lawsuit...
Allianz Acquires P/C, Auto Insurer from Brazil’s SulAmérica for Nearly $600M
Jul 13 2020 // Allianz has finalized the acquisition of the automobile and other property & casualty business from SulAmérica in Brazil. This follows the announcement of the deal on August 23, 2019. The transaction enlarges the...
