Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Third Point’s Loeb Looks to Take Re/insurer SiriusPoint Private
Apr 12 2023 // Activist investor Daniel Loeb is looking to take insurance firm SiriusPoint Ltd. private, the founder of hedge fund Third Point said in a regulatory filing, sending the shares of the company up 13% in early trading on...
Dog-Related Injuries Cost Insurers More Than $1 Billion in 2022
Apr 12 2023 // Insurers paid out more than $1 billion in dog-related injury claims in 2022, a 28% increase over 2021 even though the number of claims decreased last year, according to the Insurance Information Institute (Triple-I) and...
How Insurers Can Harness the Power of AI
Apr 12 2023 // Powered by InsuranceJournal.tv There is a lot of talk about the insurance industry being slower to adopt new technologies, such as artificial intelligence, but Counterpart CEO Tanner Hackett and Socotra CEO Dan Woods both...
Court Finds Insurer’s Evidence Insufficient to Support Subrogation Suit
Apr 12 2023 // Circumstantial evidence suggesting a fire that damaged four buildings in the Queens neighborhood of New York City was caused by improper use of extension cords was not enough to allow an insurer to proceed with a...
Catastrophe Losses Drive 2021 U.S. P/C Insurer Impairments: AM Best
Apr 10 2023 // Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best...
Altering Adjusters’ Reports a No-No Under Florida Insurer Accountability Bill
Apr 6 2023 // As trial lawyers and news reports around the state continue to criticize Florida lawmakers for the far-reaching tort-reform passed last month, the Senate Banking and Insurance Committee has approved a bill designed to...
Ignited by Pandemic Changes, Insurers Embraced Innovation
Apr 5 2023 // The pandemic kickstarted the new wave of accepting and using innovative systems and methods in the insurance industry. It opened eyes to the ways that innovations and technology could do more than just efficiently get the...
German Insurers Renew Cover for Blast-Damaged Nord Stream 1 Gas Pipeline
Apr 4 2023 // German insurers Allianz and Munich Re have renewed cover for the damaged Russia-controlled Nord Stream 1 gas pipeline, five sources with knowledge of the matter said, indicating that its revival has not been ruled out...
P/C Carriers Losing Ground to MGAs in Talent War
Apr 3 2023 // During a webinar about an insurance industry labor market survey, an industry recruiter said insurance carriers are losing ground to managing general agents in the war for talent. “On the property and casualty side,...
Insurer Startup Trium Cyber Finds Path to Profits, With Large Business Focus
Apr 3 2023 // Trium Cyber is the industry’s first Lloyd’s-approved company to provide mono-line cyber coverage for U.S. risks. Launched in January 2023, the full stack surplus lines insurer has joined the ranks of new...
Experts Urge Empathy, Thoughtfulness for Insurers in Challenging Cyber Landscape
Apr 3 2023 // While the continuously evolving cyber threat landscape is a growing problem for insurers, experts say it’s not an insurmountable one, and empathy and thoughtfulness will be key as insurers seek to tackle...
Near $27B Underwriting Loss in 2022 Largest for U.S. P/C Insurers Since 2011
Mar 30 2023 // Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property...
Boy Scouts of America Bankruptcy Plan Upheld Despite Insurers’ Objections
Mar 28 2023 // A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America’s reorganization plan approved last year to allow the nonprofit to settle tens of thousands of sexual...
Insurer RSA Exits UK Personal Lines Motor Market to Focus on Core Businesses
Mar 28 2023 // UK insurer RSA announced it is exiting the UK personal lines motor market to focus on its core lines. The company explained the move by saying that the personal lines motor market in the UK remains extremely competitive...
D&O 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Mar 27 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Wisconsin High Court: UI Insurer Can’t Deduct Money That Was Paid but Reimbursed
Mar 24 2023 // Wisconsin law allows insurers to deduct from their liability any amounts paid for the same injury by a worker’s compensation carrier, but does that include amounts that are paid and later reimbursed? Secura Supreme...
Insurers Continue to Cover Ukraine Grain Corridor Shipments, for Now: Lloyd’s Chairman
Mar 24 2023 // Insurers continue to cover grain shipments from Ukraine through a U.N.-backed corridor although more clarity will be required soon, a senior Lloyd’s of London official said on Thursday, after the export accord was...
Kentucky Governor Signs Bill: Guaranty Fund Won’t Pay Claims from Self-Insurers
Mar 23 2023 // Kentucky’s governor this week signed into law a bill that seeks to make one thing perfectly clear: The Kentucky Insurance Guaranty Association will not pay claims from defunct self-insurers that are not members of...
Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re
Mar 22 2023 // Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record...
Insurer-Friendly Justice Retires, But That Gives DeSantis 5th Pick on Fla. High Court
Mar 22 2023 // Gov. Ron DeSantis’ already strong stamp on the Florida Supreme Court will be even greater for years to come after Justice Ricky Polston retires at the end of this month. DeSantis will have appointed five of the...
