Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Landlord’s Insurer Denied Recovery for Damage Caused by Tenant’s Drone
Jul 24 2023 // Sathiyaselvam Thangavel’s hijinks with a drone caused more than $77,000 in damage to the apartment building where he lived, but his landlord’s insurer can’t recover that money from Thangavel even though...
Louisiana Commissioner Directs Insurers to Talk to Policyholders as Hurricane Ida Claims Deadline Looms
Jul 21 2023 // A day after the Louisiana Supreme Court announced that it is lifting a stay on hurricane-damage lawsuits filed by McClenny Moseley & Associates, state Insurance Commissioner James Donelon on Thursday issued a directive...
Specialty P/C Insurers Outperform Their U.S. Peers: Report
Jul 21 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...
Florida Insurers Have Until Aug. 1 to Show They Have Proper Claims Manuals, OIR Says
Jul 21 2023 // Florida property insurers now have a week to attest that they have and use claims-handling manuals that reflect industry practices and standards, the state Office of Insurance Regulation said in a bulletin. By Aug. 1,...
Texas Mutual Insurance Company Awards Over $4 Million in Grants to Nonprofits
Jul 19 2023 // Texas Mutual Insurance Company has awarded more than $4 million in grants to several Texas nonprofits, part of its commitment in community funding to nonprofit organizations. Texas Mutual has committed funding to nonprofit...
Digital Asset Insurer Evertas Acquires Bitsure, Crypto Mining Insurance Specialist
Jul 19 2023 // Evertas, the Chicago-based dedicated crypto insurance company, announced the acquisition of Bitsure, the world’s first insurer dedicated to coverage for crypto mining operations. Launched in 2021, Cape Town, South...
Ukraine Plea to Keep Grain Moving Clashes With Reality Facing Insurers, Shippers
Jul 19 2023 // Ukraine is pushing for grain exports to continue from key ports following Russia’s withdrawal from the Black Sea grain deal. Insurers and shippers aren’t so sure. Russia’s termination of the pact this...
Workers’ Compensation Remains Profit Engine for U.S. P/C Insurers: AM Best
Jul 18 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...
Insurers to Pay $15M to Settle Murdaugh Fatal Boat Crash Claims
Jul 18 2023 // Insurers for the convenience store that sold beer to Paul Murdaugh have agreed to pay $15 million to settle the wrongful death suit stemming from the 2019 boat crash involving Murdaugh in which teenager Mallory Beach was...
Insurers Reviewing Black Sea Ship Cover After Russia Quits Grain Deal: Sources
Jul 17 2023 // Insurers are reviewing whether to freeze cover for any ships willing to sail to Ukraine after Russia on Monday quit a U.N.-backed deal that allows the export of grain through a wartime Black Sea safe corridor, industry...
California Workers’ Comp Insurer Combined Losses and Expenses in 2022 Were $15B
Jul 17 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...
Florida High Court Rule Change Seen as a Win for Med Mal Insurers
Jul 14 2023 // Like a sports league deciding to make greater use of in-game instant replay on crucial calls, the Florida Supreme Court has made it a little easier for hospitals and other medical malpractice defendants to challenge expert...
5th Circuit Asks Texas Supreme Ct. if Attorney Fees Owed After Insurer Pays Appraisal Award
Jul 13 2023 // A federal appellate court, grappling with conflicting decisions from federal courts, is asking the Texas Supreme Court to decide whether attorney fees can be awarded to claimants when insurers pay appraisal awards plus...
Insurers Sue Energy Corporation Blamed for Helping Start Colorado Wildfire
Jul 12 2023 // Dozens of insurance companies are suing Minneapolis-based Xcel Energy to recoup money paid out to homes and businesses lost in Colorado`s most destructive wildfire in 2021. The lawsuit was filed Thursday, a few weeks after...
Delos to Insurers Shedding Wildfire Risk: Send the Homes to Us
Jul 12 2023 // About 6 million homes in the U.S. are considered uninsurable due to wildfire risk. The models at Delos Insurance say about half of those homes are absolutely insurable. “Delos sees a lot more insurable homes in...
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...
