Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida’s Citizens Accuses Embattled Law Firm, Others of Sham Lawsuits, Racketeering
Jul 6 2020 // Florida’s state-run Citizens Property Insurance Corp. has joined a chorus of insurance companies accusing the Strems Law Firm of lawsuit abuse. Citizens says it has lost millions of dollars due to an alleged scheme...
Washington Insurance Commissioner Wants to Ban Credit Scoring
Jul 6 2020 // Washington Insurance Commissioner Mike Kreidler is calling on the insurance industry to end its use of credit scoring in auto, property, renters and life insurance, citing the economic impact of the COVID-19 pandemic and...
Insurer Group Warns About California Bill Mandating Business Interruption Coverage
Jul 2 2020 // The American Property Casualty Insurance Association is opposing legislation that would create a rebuttable presumption that the COVID-19 virus caused property damage triggering business interruption coverage in commercial...
Update: Online Insurer Lemonade Raises $319M During U.S. Stock Market Debut
Jul 2 2020 // Lemonade Inc., the online home insurance provider backed by SoftBank Group Corp., jumped as much as 86% after raising $319 million in its U.S. initial public offering. [inline-ad-1] Shares of the company opened at $50.06...
S. African Insurers Are Pushed to Pay COVID-19 Business Interruption Claims
Jul 2 2020 // Virus-related claims from just over 500 small South African firms battling insurers who have rejected them are worth up to 4 billion rand ($232 million), the firm representing the businesses has calculated. Loss adjustment...
Fort Worth P/C Insurer, Hallmark Financial, Reports $34M Loss
Jul 1 2020 // Hallmark Financial Services Inc. (HALL) has reported a loss of $34 million in its fourth quarter. The Fort Worth, Texas-based company said it had a loss of $1.87 per share. Losses, adjusted for investment gains, were $2.01...
UK Insurers, Banks Must Be Ready to Manage Climate Risks by End of 2021: BoE
Jul 1 2020 // Banks and insurers in Britain must implement by the end of 2021 plans they have drawn up to deal with risks to their businesses from climate change, the Bank of England (BoE) said on Wednesday. The BoE previously told...
N.H. Woman Sentenced for Fraud Scheme Targeting Restaurants, Insurance Companies
Jul 1 2020 // A New Hampshire woman has been sentenced to 18 months in federal prison for participating in a mail fraud scheme targeting restaurants and insurance companies. According to court documents and statements made in court, for...
U.S. Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jun 30 2020 // The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
New York Insurance Broker Arrested, Charged in $1M Fraud Scheme
Jun 30 2020 // A New York state insurance broker has been arrested and charged with wire fraud, attempted wire fraud and aggravated identity theft and is facing a maximum penalty of 20 years in prison. U.S. Attorney James P. Kennedy Jr....
Blue Tarps Get a Revolutionary Upgrade with Patented Product
Jun 30 2020 // Miami, FL, June 30, 2020 –Insurance Companies Can Save Millions in Licensing Program. WrapRoof™ secured 20 U.S. patent claims in a revolutionary upgrade to blue tarps, becoming the only patented shrink wrap system in...
Nationwide’s Transition to Independent Agency Insurance Company Complete
Jun 30 2020 // Nationwide says the process of transitioning the company to operate as an independent insurance agency carrier is complete, effective July 1. For the past 18 months, the Columbus, Ohio-based insurer has been working on the...
Insurance Dept: Required Premium Relief Has Saved California Drivers $1.2B
Jun 30 2020 // California automobile insurance companies have agreed to provide $1.21 billion in savings to drivers, the state insurance department says. Insurance Commissioner Ricardo Lara in May issued an order requiring insurers to...
Bank of England Tells Insurers, Banks to Continue Analyses of Impact of Climate Risk
Jun 29 2020 // The Bank of England (BoE) has told banks and insurers to press ahead with analyzing the impact of climate change on their operations, saying that guidance published on Monday would be followed by targets next year. The...
Insurer Lemonade Seeks to Raise $286 Million in IPO
Jun 25 2020 // Insurance startup Lemonade Inc., which is backed by SoftBank Group Corp., said on Thursday it was looking to raise up to $286 million in its U.S. initial public offering (IPO), as the IPO market gains momentum after...
Palomar Excess and Surplus Insurance Company Formed in Arizona
Jun 24 2020 // Palomar Holdings Inc. has formed Palomar Excess and Surplus Insurance Co. Palomar Holdings Inc. announced the underwritten public offering of 1 million shares of the company’s common stock PESIC has received all...
Global Institutional Investors, Including Insurers, Urge Brazil to Control Deforestation
Jun 24 2020 // A group of 29 global investment firms that manage $3.7 trillion are demanding meetings with Brazilian diplomats around the world to call on right-wing President Jair Bolsonaro’s government to stop soaring...
Minor League Baseball Teams Sue Insurers for Coronavirus Business Income Losses
Jun 24 2020 // Fifteen U.S. minor league baseball teams on Tuesday sued several insurers for not paying out claims for business interruption losses after the cancellation of “much or all” of the league’s season as a...
A Picasso, an $18M Hole, a Casino Owner, an Auctioneer, an Insurer and a Contractor
Jun 23 2020 // Insurance specialist LeConte Moore and professional fine art appraiser Vincent Wiener deal with high-profile performers and artists and their works so hearing talk of big dollar figures is not unusual. Moore says he and...
UK Insurer Saga Refunds £44M to Customers on COVID-19 Travel Interruptions
Jun 22 2020 // Saga has refunded 44 million pounds ($54.45 million) of advance payments to customers whose travel was interrupted by the coronavirus outbreak, the British over-50s holidays and insurance specialist said on Monday. The...
