Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Solving the Insurers’ Red Queen Dilemma
Aug 1 2022 // Well, in our country,’ said Alice, still panting a little, ‘you’d generally get to somewhere else — if you ran very fast for a long time, as we’ve been doing.’ ‘A slow sort of...
Despite Growing Pressures, Most Cyber Insurers Won’t Exit: Survey
Aug 1 2022 // The cyber insurance sector has been tested recently with growing ransomware attacks, rising premiums, and more sophisticated threat actors, but that isn’t necessarily scaring insurers away, according to a 2022 Cyber...
Lemonade Closes Deal for Auto Insurer Metromile
Jul 28 2022 // Digital insurer Lemonade said it has closed of the acquisition of pay-per-mile car insurance provider Metromile in an all-stock transaction. Metromile shareholders received 7.3 million Lemonade shares, while Lemonade...
Global Natural Disasters Cost Insurers $34 Billion in H1 2022: Munich Re
Jul 28 2022 // Global natural disasters during the first half of 2022 cost insurers about US$34 billion, which covered a little more than half of the overall $65 billion in losses from floods, earthquakes, and storms during the first six...
Insureds Can’t Block Repairs Then Sue Insurer, Florida Appeals Court Agrees
Jul 28 2022 // Insureds cannot recover damages from the insurance company if they failed to comply with the policy and failed to allow the insurer to make the needed repairs, a Florida appeals court decided Wednesday. Florida’s 3rd...
Lloyd’s Insurers Preparing to Cover Ukraine Grain
Jul 27 2022 // Lloyd’s of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their plans shortly, the commercial insurance market’s chairman said on...
UK Insurers, Banks Risk Fines Under New Reforms Unless They Put Customers First
Jul 27 2022 // Financial firms may be fined and stripped of their regulatory authorization unless they put their customers’ needs first under far-reaching reforms from the UK City regulator. Banks, insurers and other companies will...
Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon
Jul 27 2022 // Insured losses from global natural disaster events were estimated at $39 billion during the first half of 2022, 18% higher than the 21st century average of $33 billion, driven by persistent severe convective storm (SCS)...
Medicare Open Enrollment Season: Best Practices for Carriers, Agencies, and MGAs/MGUs
Jul 27 2022 // This post is part of a series sponsored by AgentSync. With pumpkin spice lattes nigh, we can nearly smell the coming of a very busy time of year for carriers, agencies, MGAs/MGUs. Yes, you guessed it, we’re talking...
Markets/Coverages: Openly’s New Homeowners Carrier; Neptune Flood, SIAA Partnership; MiKargo247 Launches for Per-Load Freight
Jul 26 2022 // Openly Starts Openly Insurance Company, a Licensed Homeowners Insurance Carrier Openly announced the launch of the Openly Insurance Company, a homeowners insurance carrier licensed in 17 states. Openly had formerly...
Japanese Insurers Sell Heatstroke Coverage as Temperatures Soar to Record Levels
Jul 26 2022 // As temperatures soar to unprecedented levels from Europe to Asia this summer, some Japanese insurance companies have begun selling policies to protect people struck down by the heatwave. Sompo Holdings Inc. and Sumitomo...
Court Agrees With Insurer: Amazon Can Be Sued Under New Jersey Product Liability Law
Jul 26 2022 // Online marketplace Amazon can be sued under New Jersey product liability law for defective products sold by third-party sellers on its website. The federal district court in New Jersey sided with the New Jersey...
Insurers Weigh Covering Ukraine Grain Shipments After Deal to Re-open Black Sea Ports
Jul 25 2022 // A number of insurance underwriters are interested in providing cover for grain shipments from Ukraine after an agreement was reached to re-open Black Sea ports, although the first shipments are expected to be weeks away,...
Former Students Sue Insurers over Alleged Abuse at Georgia Boarding School
Jul 25 2022 // Twenty men who said they were sexually abused at a prestigious boarding school in Georgia are now suing the school’s insurance companies for $345 million. The insurers argue that their policies did not cover the...
Florida OIR: $3B Spent on Claims Defense in 2021; 27 Insurers Now on Watch List
Jul 21 2022 // In 2021, Florida’s domestic property insurers spent more than $3 billion on legal defense costs and containment – double the figure reported in 2016. That’s one jaw-dropping but not surprising takeaway from...
NHL Stymied by Judge in Its Pursuit of Billions From Insurer for COVID Damages
Jul 21 2022 // The National Hockey League can pursue a lawsuit against its insurance provider over losses stemming from the COVID pandemic — but not for the billions of the dollars in damages the league’s 19 clubs...
Insurers Want Safety Assurances Before Covering Ships Sailing in Ukraine Grain Corridor
Jul 20 2022 // Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters...
MSP Recovery Scores Another Appeals Court Victory Against Auto Insurers
Jul 20 2022 // A Florida law firm that has made a lucrative business out of the Medicare Secondary Payer Act – and disrupted the auto insurance industry in the process – has scored another victory at the federal appeals court...
Inside Out: How Exit Crime, Insider Threats Are Creating Challenges for Insurers
Jul 20 2022 // Powered by InsuranceJournal.tv There has been a lot of talk about how insurance companies are increasingly falling victim to outside cyber attacks, but the risk of insider threats can be just as scary and perhaps a little...
New Jersey High Court: Default Claims Against Insurer Subject to Arbitration
Jul 19 2022 // A claimant seeking to recover directly from an insurer on default judgments for claims against the insurer’s policyholder, must abide by the insurer’s policy terms that mandate arbitration, the New Jersey...
