Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
MOVEit Cyber Attack Hits UK Printing Firm Used by Insurers, Brokers and Banks
Jun 15 2023 // A UK printing firm that sends mail for clients ranging from major health-insurance providers to multinational banks was a victim of the extensive MOVEit cyberattack. Adare SEC confirmed to Bloomberg News on Monday that it...
Brazil Court Backs Government in $24B Tax Dispute; Ruling Hits Insurers, Banks, Brokers
Jun 13 2023 // A majority of judges on Brazil’s Supreme Court voted on Monday to back tax authorities in a judgment on how to calculate levies on banks and other financial institutions that could add as much as 115 billion reais...
Nashville Bar Damaged in 2020 Bombing Files Suit Against its Insurer
Jun 13 2023 // When a Tennessee man set off a bomb in downtown Nashville in 2020, it not only disrupted a peaceful Christmas morning in the city, it put some nearby establishments out of business for more than 30 months. The vehicle...
Report: Wildfire Fears at ‘All-Time High’ and Driving Insurer Decisions in Property Market
Jun 12 2023 // Despite a relatively average 2022 wildfire season, fears of wildfires remain at an “all-time high,” and those fears appear to be one driver of decision-making on property insurance. A new report from Gallagher...
Democrats on Senate Budget Committee Open Investigation Into Major Insurers
Jun 12 2023 // Democrats on the U.S. Senate Budget Committee launched an investigation on Friday into major insurers’ “support” of new fossil fuel projects, on the heels of an industry retreat from areas prone to...
Insurer Not Liable for Botched Fracking Operation
Jun 9 2023 // A well servicing company that damaged 53 natural gas wells by using a defective chemical during a hydrofracking operation is not entitled to insurance coverage for a $13 million jury verdict because there was no accident,...
Insurer Group Reacts to California Department of Insurance Musing on Cat Modeling
Jun 8 2023 // Insurer groups may be seeing the light at the end of the tunnel with a hint of a possible change in a regulator’s attitude toward the use of catastrophe modeling in the California market for wildfire insurers. The...
California Insurers’ Inability to Price Risk Is Causing Headaches
Jun 7 2023 // California regulations restrict insurers from using sophisticated computer models to consider the rapidly growing wildfire risks from climate change — and that limitation is a factor pushing US insurers out of the...
Texas Insurance Carriers Reported Nearly 100K COVID Claims: DWC Factsheet
Jun 5 2023 // Texas insurance carriers reported nearly 100,000 COVID-19 claims and 472 fatalities to the Texas Department of Insurance, Division of Workers’ Compensation (DWC), according to a factsheet released this week by DWC....
AM Best: Only Two Impaired Insurers in ’22, Down From 10 in ’21
Jun 5 2023 // Despite the reversal seen in the U.S. equity market and rising inflation and interest rates, property/casualty insurers performed well in 2022, according to the latest report on the long-term impairment rates of AM...
Washington Commissioner Fines Airbnb for Acting as Unauthorized Insurer
Jun 5 2023 // Washington Insurance Commissioner Mike Kreidler fined Airbnb $20,000 for acting as an unauthorized insurer in the state. Kreidler also ordered the vacation rental company to obtain a surplus lines insurance policy to...
Alabama DOI Needs Insurers to Light Up the Budding Medical Marijuana Business in the State
Jun 5 2023 // Alabama lawmakers legalized medical marijuana two years ago. But that came with a high hurdle: Dispensaries, growers, processors and other license applicants must have at least $2 million of liability and casualty...
The 2023 Hurricane Season: Are Insurers Prepared for the Growing Risks?
Jun 2 2023 // This post is part of a series sponsored by CoreLogic. As the 2023 Hurricane Season approaches, it is crucial for coastal and inland communities alike to understand and prepare for the potential risks associated with...
ANALYSIS – Breakup of Insurers’ Climate Coalition Driven by U.S. Regulation Fears
Jun 2 2023 // The success of Republicans in triggering the breakup of a coalition of insurance firms aimed at tackling climate change is down to U.S. states being the industry’s primary regulator, interviews with industry...
Florida Governor Signs Insurer Accountability, Wind-Mit Discount Bills Into Law
Jun 1 2023 // Florida’s governor this week signed the Insurer Accountability Act and two other bills that put new restrictions on insurers and require premium discounts for homeowners’ wind-mitigation efforts. Senate Bill...
Cyber Insurance: A Growth Market for Insurers With Some Caveats
May 31 2023 // As demand for cyber insurance continues to grow, insurers must remain vigilant in managing the changing risk associated with the line of coverage. According to today’s DBRS Morningstar’s commentary on the...
Update: List of Insurers Exiting Climate Group Grows, Including Lloyd’s, Tokio Marine
May 30 2023 // The list of firms walking out of the Net Zero Insurance Alliance continued to grow this week, adding to an exodus as the industry struggles to navigate anti-ESG attacks led by the Republican Party. The latest round of...
Reuters: Lloyd’s Register Drops Ships of Top Indian Carrier of Russian Oil
May 26 2023 // Lloyd’s Register has told India’s Gatik Ship Management, which has become a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3, the maritime...
Climate Alliance Sounds Alarm on ‘Political Attacks’ on Insurers
May 26 2023 // “Political attacks” are interfering with insurers’ efforts to price climate risks, the Glasgow Financial Alliance for Net Zero said on Friday, after a wave of insurers quit an industry climate group...
UPDATE: ESG-Bashing Triggers More Defections From Insurer Climate Group
May 25 2023 // The world’s biggest climate alliance for insurers has started hemorrhaging members, after Republican attorneys general accused the group of antitrust violations. On Thursday, French insurers AXA SA and SCOR SE, as...
