Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurors of Tennessee Appoints Representative Ron Travis as CEO
Nov 6 2020 // Insurors of Tennessee has named Representative Ron Travis as the new CEO for the organization, effective Nov. 16, 2020. Ron Travis Travis (R-Dayton) is a state representative for District 31 (Bledsoe, Rhea, Sequatchie and...
California Issues Moratorium on Insurers Non-Renewing or Cancelling Following Wildfires
Nov 5 2020 // California Insurance Commissioner Ricardo Lara on Thursday announced a mandatory one-year moratorium on insurance companies non-renewing or cancelling residential property insurance policies, a move he says is aimed at...
Update: UK Insurer RSA Receives $9.4B Takeover Offer From Intact Financial, Tryg
Nov 5 2020 // RSA is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that values the British firm at about 7.2 billion pounds ($9.46 billion). RSA said its board...
U.S. P/C Insurer Impairments Rise Slightly in 2019: AM Best
Nov 5 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Insurer RSA Says Pandemic Exclusions Will Limit Impact of England’s 2nd Lockdown
Nov 5 2020 // England’s second national lockdown is unlikely to have much impact on insurer RSA as many policies now have pandemic-related exclusions, its CEO said on Thursday as it reported a rise in underwriting profit in the...
Threat of U.S. Insurance Regulatory Crackdown Fades Without Democratic ‘Blue Wave’
Nov 5 2020 // Insurers appear to have dodged a revival of strict regulations and policy upheavals after an anticipated Democratic “Blue Wave,” which would have allowed progressives to push for broad reforms, failed to...
Swedish Insurer Folksam Accidentally Leaks Private Data on 1 Million Customers
Nov 3 2020 // Sweden’s largest insurer, Folksam, accidentally leaked private data on about one million of its customers to a handful of the world’s largest technology companies, it said on Tuesday. Folksam, which insures 50%...
Nigerian Insurers Expect Record Claims from Police Brutality Protests
Nov 3 2020 // Nigerian insurers are facing their biggest claims on record after protests against police brutality turned violent, leading to large-scale looting and destruction. Risk underwriters all over the country are inspecting...
UK Supreme Court to Hear Appeal of COVID Business Interruption Test Case on Nov. 16
Nov 3 2020 // The UK Supreme Court will hear an appeal on Nov. 16 of the Financial Conduct Authority’s (FCA) test case over which insurance companies should offer payouts to small businesses battered by the coronavirus...
Candidates in Hotly Contested North Carolina Insurance Race Talk Scandal, Priorities
Nov 2 2020 // The race for the next North Carolina Insurance Commissioner features two familiar faces to state voters in what is a three-peat showdown featuring Republican Mike Causey and Democrat Wayne Goodwin. Causey, the incumbent,...
Texas Nonstandard Auto Insurer, ACCC, Placed into Receivership
Nov 2 2020 // A Travis County, Texas, judge has approved an order placing a Houston-based nonstandard auto insurer into receivership. On Oct. 21, Travis County District Judge Tim Sulak signed the application by the Texas Department of...
California Pledges to Protect Homeowners from Insurer Withdrawals Due to Wildfires
Nov 2 2020 // California’s insurance commissioner in late October pledged to step up efforts to protect the state’s residents from wildfires and address a pullback of private insurers from the state’s riskiest...
Insurers Powered by New Tech Ready to Assist Policyholders
Nov 2 2020 // This hurricane season has already broken several records, and it is not over yet. So far, 2020 has produced 23 named storms, including two using the Greek alphabet for only the second time in history. Nine named storms...
Agents’ E&O Under Pressure
Nov 2 2020 // The agency errors and omissions liability market has enjoyed stable market conditions for years. But that could be changing as agents and their insureds attempt to balance emerging risks in a changing insurance market. The...
It Would Take P/C Insurers 150 Years to Pay COVID-19 Business Interruption Losses
Oct 30 2020 // The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its...
Louisiana Issues Insurer Data Call for Hurricane Delta Damage Claims
Oct 30 2020 // Property/casualty insurance companies in Louisiana, including those that write private and/or excess flood coverage, as well as surplus lines insurers, have been directed to report claims data arising from Hurricane Delta...
Florida Property Insurance Market Inches Closer to Crisis – Part 1
Oct 29 2020 // After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from...
Insurers Again Battled Many California Bills, but a Fight Last Year Was Biggest Recent Victory
Oct 28 2020 // The election is nearly here, and while it’s been quite a year all around, things could have been worse for the insurance industry. When the year started, insurance industry lobbyists were facing a big battle, and not...
Startup Auto Insurer Root Raises $724.4 Million in IPO
Oct 28 2020 // Automobile insurance startup Root Inc. sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said. Root, which has $200 million in debt,...
Insurer Off the Hook in $200K Georgia House Fire Claim Due to Agent Premium Theft
Oct 27 2020 // A property insurer is off the hook for a $200,000 claim against a policy that it canceled, leaving a lawsuit filed against a former insurance agent who was arrested for pocketing premiums as the only apparent recourse...
