Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
HCA Data Leak Affects 11 Million; Class Action Says 9 Million Hit by Dental Insurer Breach
Jul 12 2023 // Nashville-based HCAHealthcare, the largest for-profit operator of hospitals and clinics in the U.S., said that patient information had been leaked to an online forum. The breach leaked data for as many as 11 million...
Property Insurers’ Ratings Under Pressure as Risk Rises, Morningstar Says
Jul 12 2023 // The credit ratings of global property insurers are coming under pressure as rising reinsurance costs force them to cut back on cover and retain more risks themselves, DBRS Morningstar analysts said in a research note on...
Canada Regulator Proposes Banks, Insurers Hold More Capital to Tackle Mortgage Risks
Jul 12 2023 // Canada’s banking regulator on Tuesday proposed changes to capital adequacy guidelines that would require lenders and mortgage insurers to hold more funds to better manage risks from a sharp rise in home loan...
Florida Insurers Show a Little Profit in 2023 But Two Join the Watch List
Jul 11 2023 // Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state...
Washington Commissioner Sends Climate Risk Disclosure Survey to Insurers
Jul 7 2023 // Washington Insurance Commissioner Mike Kreidler sent out his annual Climate Risk Disclosure survey, requiring insurance companies with more than $100 million in written premiums in the United States in 2022 to respond, his...
Farmers Limits New Homeowners Policies in California, Prompting Insurer Group to Call for Reform
Jul 7 2023 // Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier that follows a similar decision by State Farm last month and adds to a growing list of major carriers...
UN Climate Alliance Scraps Emissions Rules for Insurers After Exodus
Jul 6 2023 // The Net-Zero Insurance Alliance (NZIA) has ditched all requirements for members to set or publish greenhouse gas emission-reduction targets, the U.N. said on Wednesday, a major rewrite of its rules after U.S. political...
Association of British Insurers Pushes Members to Act on Biodiversity Loss
Jul 6 2023 // A British insurance group is pushing its members, which include Allianz SE, Aviva Plc and Chubb Ltd., to step up their efforts to fight biodiversity loss as part of their broader climate-related goals. In a guide published...
Insurers Look to Loosen UN Climate Alliance Rules After Member Exodus: Sources
Jul 5 2023 // The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance’s membership requirements, after a recent exodus of members, according to two people...
French Insurers Say Cost of Riots Totals $305 Million, So Far
Jul 5 2023 // French insurers have so far received around 5,900 claims worth a total of some €280 million ($305 million) resulting from damage caused during a week of riots following the police shooting of a teenager. This compares...
U.S. Insurers Hit Hardest by Inflation: Triple-I Study
Jul 3 2023 // U.S. insurers have paid more than their counterparts worldwide to repair and rebuild damaged properties and vehicles due to inflation since 2018, according to an executive briefing conducted on behalf of the International...
Italy Prosecutors Probe False Accounting Allegations Related to Insurer Eurovita: Source
Jun 30 2023 // Prosecutors in Milan are probing allegations of false accounting in relation to the crisis of Italian life insurer Eurovita, a person with knowledge of the matter said on Friday. Owned by Cinven, Eurovita this year became...
Starting July 1, Florida Insurers Face New Guardrails on Force-Placed Insurance
Jun 30 2023 // Starting Saturday, insurers and mortgage lenders for Florida homeowners will face some new restrictions on lender-placed insurance policies, thanks to a bill approved by state lawmakers this year. House Bill 793 takes...
California Workers’ Comp Insurer Combined Losses and Expenses in 2022 Were $15B
Jun 29 2023 // The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2022. Key findings in the report include: Medical losses paid in 2022 were...
HK-Based Virtual Insurer OneDegree Raises $27M in Fresh Funding Round
Jun 29 2023 // OneDegree Hong Kong Ltd., a virtual insurance firm, raised $27 million in a fresh funding round to fuel an Asia expansion and investments in artificial intelligence. The company attracted fresh cash from global financial...
Bank of England Proposes Further Reforms to Insurers’ Capital Rules to Cut Red Tape
Jun 29 2023 // The Bank of England on Thursday proposed further reforms to capital rules for insurers in a step it said would cut red tape without lowering solvency standards. The Solvency II rules were inherited from the European Union...
State Regulators Need to Improve ‘Fragmented’ Efforts to Assess Insurers’ Climate Risks: FIO
Jun 28 2023 // The Federal Insurance Office (FIO) has released a new report analyzing climate-related issues and gaps in U.S. insurance supervision and regulation, saying state regulatory efforts are fragmented and limited. FIO, part of...
FIGA Sells Muni Bonds to Keep Up with Insolvent Insurer Claims
Jun 27 2023 // The Florida Insurance Guaranty Association, which handles the claims of insolvent insurers, plans to borrow $600 million by selling municipal bonds, according to preliminary offering documents. It is the first time in...
Washington Rule Requires Insurers to Tell Policyholders Why Their Premium is Going up
Jun 22 2023 // Washington Insurance Commissioner Mike Kreidler adopted a rule requiring insurers to explain premium increases to their policyholders “in language they can understand.” “If your insurance company is going...
Insurer Capital Rule Changes in UK to Start by End of 2023, Finance Ministry Says
Jun 22 2023 // Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to “Solvency II” capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be...
