Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
US Insurers Invested in Fossil Fuels as Climate Risks to Underwriting Mount
Aug 8 2023 // U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets which in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said...
Japan Competition Watchdog Probes Insurers Over Price Fixing
Aug 8 2023 // Japan’s competition watchdog has begun an investigation into whether the top four non-life insurers colluded to set premiums for their corporate clients, according to a person familiar with the matter, becoming the...
NY Lawmakers Vow to Block Property Insurers from Asking About Subsidized Tenants
Aug 7 2023 // Three New York legislators said they plan on pushing bills next year that would bar property insurers from requesting information about subsidized housing, a practice that discriminates, an NYC news outlet reported. The...
Britain to Create New Regime to Deal With Big Insurance Company Failures
Aug 7 2023 // Britain said on Wednesday [Aug. 2] it would start work on setting up new rules specially designed to prevent a big insurance company collapse from crashing the financial system. Regulators have already introduced rules to...
Specialty P/C Insurers Outperform Their U.S. Peers: Report
Aug 7 2023 // U.S. property/casualty insurers that focused on difficult to place risks distanced themselves from their peers in key metrics measuring earnings, underwriting profitability, balance sheet growth and other indicators of...
Workers’ Compensation Remains Profit Engine for U.S. P/C Insurers
Aug 7 2023 // Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. property/casualty (P/C) commercial sector in 2022, as they benefited from the long-term decline in workplace...
La. Insurers Ordered to Still Communicate With MMA Policyholders
Aug 7 2023 // A day after the Louisiana Supreme Court announced that it is lifting a stay on hurricane-damage lawsuits filed by McClenny Moseley & Associates, Insurance Commissioner James Donelon in late July issued a directive...
Romania Expects to Clear Danube Logjam After Ukraine Attack; Insurers Remain Wary
Aug 4 2023 // Romania expects around 30 ships from Ukraine to clear customs on the Danube River over the next two days as it bids to clear a logjam in the aftermath of Wednesday’s Russian attack on Ukraine’s main river port...
Russia Strikes Ukraine’s Danube Port. Kyiv Says Aim Is to Intimidate Insurers, Shippers.
Aug 3 2023 // Russia attacked Ukraine’s main inland port across the Danube River from Romania on Wednesday, sending global food prices higher as it ramped up its use of force to prevent Ukraine from exporting grain. The drone...
Ray of Sunshine: Florida Insurers Show Profit as Citizens Takeouts Rise – S&P Global
Aug 2 2023 // Republished from S&P Global Market Intelligence For the first time in three years, Florida’s struggling domestic residential property insurers have posted a quarterly profit, according to an analysis by S&P...
Japan Casualty Insurers’ Shares Sink on Concerns Over Suspected Price Fixing
Aug 2 2023 // A price-fixing scandal at Japan’s biggest casualty insurers is escalating following a media report that the suspected collusion is likely to be wider than initially believed. Shares of Tokio Marine Holdings Inc.,...
Medicare Recovery Firm that Sued Auto Insurers Said to be Under Investigation
Aug 1 2023 // The Florida lawyer and entrepreneur who reportedly made millions by disrupting the auto insurance industry’s Medicare set-aside practices is under federal investigation and may be in financial trouble, according to...
Update: Burning Car Carrier Off Dutch Coast Towed Away From Shipping Lanes
Jul 31 2023 // A burning car carrier off the Dutch coast has been towed to a new location away from shipping lanes as part of an operation to salvage the ship, the Dutch public works and water management ministry and local media said on...
Florida’s Universal Profits Are Up as Carrier Sheds Policies, Feels Impact of Reforms
Jul 28 2023 // Efforts by Universal Insurance Holdings, the publicly traded parent company of one of Florida’s largest property and casualty insurers, to shed policies, spread risk and raise rates appears to have paid off so far in...
Global Natural Disasters Cost Insurers $43B in H1, Surpassing 10-Yr Average: Munich Re
Jul 28 2023 // Natural disasters during the first half of 2023 cost insurers an estimated US$43 billion with an overall economic price tag of $110 billion, according to Munich Re. These insured losses were slightly lower than the US$47...
NAIC Releases Highly Anticipated Draft Model Bulletin on Insurers’ AI Use
Jul 28 2023 // On July 17, 2023, the Innovation, Cybersecurity and Technology (H) Committee of the National Association of Insurance Commissioners (NAIC) released for comment a highly anticipated model bulletin (Model Bulletin) on...
Rochester Diocese Claims Fund Reaches $126M as 2 More Insurers Settle, 1 Holds Out
Jul 28 2023 // The Catholic Diocese of Rochester and sexual abuse survivors have reached settlements with additional insurers on amounts available to cover abuse claims, bringing the total fund now available to survivor claimants to...
Washington Physicians’ Insurer Issues Notice of Data Privacy Incident
Jul 27 2023 // Physicians Insurance A Mutual Company reported a security incident affecting the personal information for some third-party contractors and the health information for some of its insureds’ patients. “Although we...
What You Need to Know About States’ Insurers of Last Resort
Jul 26 2023 // This post is part of a series sponsored by AgentSync. As Florida’s state-backed insurer of last resort takes on more than a million policies, Colorado considers devising its own insurance scheme to provide coverage...
New Jersey High Court to Hear Insurers’ Appeal Over War Exclusion in NotPetya Attack
Jul 26 2023 // The New Jersey Supreme Court has agreed to decide whether a hostile/warlike action exclusion in an all risks property insurance policy applies in a case involving insurance coverage for a 2017 Russian cyberattack. The...
