Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Wisconsin Urges Insurers to Be Flexible with Payments; Offers Guidance on Filings
Mar 20 2020 // The Wisconsin Office of the Commissioner of Insurance (OCI) is asking insurers operating the state to offer flexibility to insureds who are incurring economic hardship during the COVID-19 public health emergency. This...
European Insurers’ Coronavirus BI Claims Likely to Be Limited: Moody’s, ABI
Mar 20 2020 // Insurers in the UK, France and Germany are likely to face only moderate business interruption (BI) claims as a result of the coronavirus outbreak because pandemic-related claims are excluded from most business interruption...
Swiss Re, Zurich Insurance in Talks with Swiss Regulator About Coronavirus Impact
Mar 20 2020 // Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their capital buffers and their business, according to people familiar with the...
Pressure Builds on Insurers to Be Part of Coronavirus Business Solution
Mar 20 2020 // While legislators in Washington and states try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, outside pressure is mounting on private property/casualty...
Insurers Reject House Members’ Request to Cover Uninsured COVID Business Losses
Mar 20 2020 // A bipartisan group of U.S. House members has asked insurers to retroactively recognize financial losses relating to COVID-19 under commercial business interruption coverage for policyholders. Eighteen House members made...
NY Regs Ask Insurers for Details of Business Interruption Policies in Wake of COVID-19
Mar 20 2020 // The New York State Department of Financial Services (DFS) has instructed insurers to submit details of business interruption policies that have been provided to insureds, as well as the coverage each policy offers...
Southeast Insurance Regulators Issue Industry Guidance for Coronavirus Outbreak
Mar 20 2020 // Insurance departments across the Southeast are notifying industry representatives of updated procedures and expectations in response to the coronavirus outbreak, while also acknowledging the potential for a serious impact...
Safe Drive Systems Radar Collision Avoidance Technology is Implemented in a Pilot Conducted with Berkshire Hathaway GUARD Insurance Companies
Mar 20 2020 // New York, NY, March 20, 2020 − Safe Drive Systems (SDS), a leading developer and distributor of aftermarket advanced auto safety technologies, and its partner, Berkshire Hathaway GUARD Insurance Companies, have announced...
Life Insurers Go Slow on New Policies to Limit Coronavirus Risk
Mar 19 2020 // U.S. life insurers are trying to curb their own risks to coronavirus by imposing waiting periods for applicants who have traveled to regions with widespread outbreaks, industry experts said. Life insurers are worried about...
Analyst Says Specialty P/C Insurers More Likely to See Business Interruption Losses
Mar 19 2020 // The original property/casualty insurance industry reaction that business interruption losses may be modest may have been too optimistic, according to a leading insurance analyst. KBW’s Meyer Shields believes that the...
UK Regulator Warns Insurers to Have ‘Robust’ Coronavirus Contingency Plans
Mar 19 2020 // The UK Financial Conduct Authority (FCA) reminded insurers on Thursday to have “robust” operational resilience and business continuity plans in place to respond to possible disruptions caused by the coronavirus...
Colorado Man And His Insurer to Pay $500K Over 2017 Wildfire
Mar 19 2020 // A Colorado man and his insurance company paid $500,000 to the U.S. government over a wildfire that burned federal land in the state. Dale Owns and Grange Insurance Association made the payment to resolve liability for the...
Proposed N.J. Bill Would Require Insurers to Pay COVID-19 Business Interruption Claims
Mar 19 2020 // A proposed New Jersey bill, which aims to create business interruption insurance coverage for COVID-19 related claims despite virus exclusions in many policies, has drawn concern about the constitutionality of legislation...
EU Insurers Must Preserve Capital Positions as Coronavirus Crisis Escalates: Watchdog
Mar 18 2020 // Insurance companies should take measures to preserve their capital position and be prudent about dividend and bonus payments as the coronavirus outbreak disrupts households and businesses, the European insurance watchdog...
AM Best to Test Insurers for Coronavirus Impact; Fitch Lowers Allstate Outlook
Mar 18 2020 // Ratings firm AM Best said it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels,...
P/C Insurers Score Low for Innovation, While Reinsurers Do Better: AM Best
Mar 18 2020 // In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, according to a recent...
Lloyd’s Asks Market Insurers to Provide Estimates for Coronavirus Losses
Mar 18 2020 // Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible...
Florida Regulator Directs Insurers to Prepare for Coronavirus-Related Interruptions
Mar 18 2020 // The Florida Office of Insurance Regulation (OIR) is directing all insurers to review and update their business continuity and/or continuity of operations plans in light of the current outbreak of coronavirus strain...
Insurers Win Antitrust ‘Steering’ Lawsuits Filed by Body Shops
Mar 16 2020 // A federal appellate court threw out most of the claims by automotive body shops in Indiana, Utah and Mississippi that alleged that major insurers violated antitrust laws and engaged in anticompetitive practices by steering...
British Insurers Suspend Sale of Travel Insurance to New Customers
Mar 16 2020 // British insurers Admiral, Aviva and Direct Line are no longer offering travel insurance to new customers, they said on their websites on Friday. “The ongoing global situation with coronavirus means there’s much...
