Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer FWD Wins Approval for Hong Kong IPO
May 23 2022 // FWD Group Holdings Ltd., the Asian insurer backed by Hong Kong billionaire Richard Li, has won approval for its planned initial public offering in the city, according to a person with knowledge of the matter. The company...
Memo to Brokers: Stick With Loyal Insurers/MGAs, Price Isn’t the Only Differentiator
May 23 2022 // Instead of oscillating between extreme hard and soft markets, the insurance industry needs to promote a more sustainable business model that will help control the insurance cycle, according to an executive at the insurer...
Florida DFS Posts Autopsy Reports on 18 Insolvent Insurers, 2012-2017
May 23 2022 // A week after a Florida news report pointed out that few people seem to know that post-insolvency autopsies are required by law, the state Department of Financial Services has posted 18 of the reports for property insurers...
YES and No: New York’s Yankees Network Sues Insurer to Recover COVID Losses
May 23 2022 // Yankees Entertainment and Sports Network (YES), the broadcasting company for the New York Yankees, New York Nets and other area sports teams, is suing its insurer, Hartford Fire Insurance Co., for denying its claims for...
Markets/Coverages: Maryland’s Residual Insurer Ups Limits for Commercial Drivers
May 20 2022 // Maryland’s auto insurance market for drivers that private insurers won’t cover has received approval to offer combined single limits coverage up to $1 million for eligible businesses and vehicles. Maryland Auto...
Insurers Too Late for Subrogation in Auto Parts Price-Fixing Case, Court Rules
May 20 2022 // Insurers waited too long to intervene in anti-trust litigation that brought settlements requiring dozens of auto parts manufacturers to pay a total of $1.2 billion to resolve price-fixing allegations, a panel of the U.S....
North Carolina Judge Orders Lindberg to Give Up Control of Firms to Repay Insurers
May 19 2022 // A North Carolina court has ordered jailed insurance and business entrepreneur Greg Lindberg to relinquish control of hundreds of his firms in a plan to salvage four of his insurance companies. The judge in Wake County...
UK Insurer Aviva May Be Able to Return More Cash to Shareholders: CEO
May 18 2022 // Aviva may be able to give more cash back to shareholders, its chief executive said on Wednesday, as the British insurer reported a 5% increase in general insurance sales in the first quarter and said its capital position...
Starr Insurance Cos. Acquires Thai Non-Life Insurer
May 18 2022 // Starr Insurance Cos. announced an agreement with FPG Insurance Holdings Ltd. (HK) and local Thai shareholders to purchase FPG Insurance Public Co. Ltd. (FPG Thailand), a Thai non-life insurance company. Starr’s...
Three More Florida Insurers Asking for Big Rate Hikes at Hearings
May 17 2022 // The Florida Office of Insurance Regulation held hearings Tuesday on major rate increases from three more property insurers: Florida Farm Bureau, First Floridian, and Kin Interinsurance Network. The Kin and First Floridian...
Florida Law Requires Post-Mortem on Insolvent Insurers, But Few Reports Available
May 17 2022 // Florida regulators are required to perform post-mortem analyses on failed insurance companies, but few of the reports have been completed or released in recent years, and few people appear to be aware that they exist, the...
Activist Group Says U.S. Insurers Trying to Weaken Climate-Related Regulations
May 12 2022 // A number of businesses within the U.S. insurance sector are trying to weaken or delay emerging climate-related insurance regulation at federal and state levels, according to climate think tank InfluenceMap. Research from...
Florida’s Failing Insurers – Who’s Next?
May 12 2022 // Florida’s homeowners insurance market is in a perilous, precarious position. Florida has not been struck by a hurricane since 2018, yet there have been seven Florida insurer insolvencies in the recent hurricane-free...
Surfside Condo Families and Survivors Reach $1B Settlement with Insurers, Others
May 12 2022 // Families of the 98 victims of the 2021 condominium collapse near Miami Beach, along with injured survivors, could split hundreds of millions of dollars in payouts under a preliminary settlement agreement announced...
Obtaining a Carrier Appointment as a New Insurance Agency
May 12 2022 // This post is part of a series sponsored by AgentSync. If you’re just starting out as a small agency, as a firm or IMO, you may at first struggle with getting carrier appointments, but persistence is key to your...
UK’s Terrorism Reinsurer Pool Re to Reduce Reinsurance Pricing for Insurers
May 10 2022 // Pool Re, Britain’s leading terrorism reinsurer, announced the most significant reduction in its reinsurance pricing in 20 years. The reduction, which will come into effect in October 2022, will vary according to...
S&P Global Heeds Warnings, Withdraws Proposal for Insurer-Rating Changes
May 9 2022 // S&P Global Ratings said it is withdrawing a proposal to change the way it assesses risk-based capital adequacy for insurers and reinsurers. For the first time in more than 10 years S&P looked to change the manner...
Another Florida Insurer Adds Binding Arbitration Endorsement Amid Losses
May 9 2022 // Heritage Property & Casualty Insurance Co. reported more losses for the first quarter of 2022 and a spike in its combined ratio. But company officials said Friday they are taking aggressive steps, including rate...
Insurer Aviva Urges UK Government to Detail How It Will Reach Net Zero Emissions
May 6 2022 // The British government should practice what it preaches on net-zero emissions, according to insurer Aviva Plc and conservation group WWF. Having said last year that UK-based companies must detail how they will deliver on...
DOJ Antitrust Chief Warns S&P Global Over Insurer Ratings Tweak
May 5 2022 // S&P Global Inc. should “carefully consider” a proposed tweak to how it assesses the creditworthiness of bonds owned by insurance companies, the Justice Department said, warning that such a change...
