Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
California Insurance Commissioner Launches Report and Site Outlining Insurer Fossil Fuel Investments
Apr 18 2022 // California Insurance Commissioner Ricardo Lara on Monday issued a new report and webpage detailing insurer investments in fossil fuels. The report is a study of fossil fuel investments by insurers, identifying insurance...
Louisiana Proposes Fines Against 5 Insurers for Alleged Improper Activity After 2020 Storms
Apr 18 2022 // Louisiana Insurance Commissioner Jim Donelon has proposed fining five homeowners insurance companies a combined $764,750 following targeted market conduct examinations of their insurance activities between August 27, 2020,...
Producer and Carrier Contracts: An Agent’s Lifeblood, But Will Your Contracts Save You?
Apr 18 2022 // The world is a different place today. In days gone by, agents focused on protecting their expiration rights from carriers and producers stealing their books of business. From many angles, those were the halcyon...
Carolina Supreme Court Says Insurers Owe in Aging Fertilizer Pollution Case
Apr 14 2022 // The carriers that insured a Charleston fertilizer plant more than 30 years ago are liable for contamination at the site even though the former property owner who bought the policies did not ask their permission to transfer...
Dog-Related Claims Cost U.S. Home Insurers Nearly $900M in 2021
Apr 14 2022 // Dog bites and other dog-related injuries accounted for more than one-third of all homeowners liability claim dollars paid out in 2021, costing $881 million, according to an analysis by the Insurance Information Institute...
Fifth Circuit: Insurer Can’t Escape Coverage in Fatal Unloading Accident
Apr 12 2022 // An insurer can’t evade its duty to defend a Texas construction company sued over the death of a truck driver on its premises, the U.S. Court of Appeals for the Fifth Circuit ruled in an April 4 decision. Tarango...
Hong Kong-Based Digital Assets’ Insurer Weighs SPAC, Partners With Munich Re
Apr 12 2022 // OneDegree, a Hong Kong-based insurer of digital assets, has been approached by investment banks about going public through a blank-check company, its co-founder said. The firm, one of four with a so-called virtual insurer...
New Lloyd’s Insurer Inigo Issues Inaugural Catastrophe Bond
Apr 8 2022 // Inigo Ltd., the new Lloyd’s insurer, has entered the catastrophe bond market for the first time, less than 18 months after the firm began writing its portfolio of specialty insurance and reinsurance. Montoya Re,...
Trudeau Hits Canadian Insurers and Banks With Billions in Extra Taxes
Apr 8 2022 // Finance Minister Chrystia Freeland is imposing a one-time windfall levy on Canada’s major banks and permanently increasing their income tax rate, fulfilling an election promise that has raised the ire of the...
Insurers Found Liable for $101M Payment into Lead Paint Abatement Fund
Apr 7 2022 // Taking a calculated risk by selling a hazardous product isn’t the same as intentionally causing harm. For that reason, insurers must cover a court judgment that requires the company that sold Dutch Boy lead paint to...
Louisiana Church Sues Insurer For Alleged Inadequate Storm Damage Coverage
Apr 6 2022 // A Louisiana church has filed a federal lawsuit alleging that its insurer failed to adequately cover millions of dollars in property damage resulting from two devastating weather events last year, including Hurricane...
Global Insurers Want to Increase Private Equity Investments, as Inflation Hits Portfolios
Apr 5 2022 // Insurers want to put more money into private equity this year as they contend with rising inflation and its effects on monetary policy, a survey by Goldman Sachs Asset Management showed on Monday. More than 40% of insurers...
Goldman Poll Finds Insurers Expect a U.S. Recession
Apr 4 2022 // Insurance executives who oversee more than $13 trillion in assets expect the U.S. to enter a recession in the near future, according to an annual survey conducted by Goldman Sachs Group Inc. Of 328 chief investment...
Japanese Insurer Tokio Marine Says Greensill Obtained Policies Fraudulently
Apr 4 2022 // Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would “vigorously...
Credit Suisse Warns Greensill Litigation Against Insurers, Debtors May Take 5 Years
Apr 4 2022 // Credit Suisse said on Monday that litigation related to Greensill supply chain finance funds (SCFF) could take around five years and warned that some investors would not be able to recover their money. Credit Suisse racked...
Thailand Revokes Licenses for Two P/C Insurers
Apr 4 2022 // Thai Finance Minister Arkhom Termpittayapaisith has revoked the insurance licenses of two companies — Southeast Insurance Pcl and Thai Insurance Pcl — controlled by billionaire Charoen Sirivadhanabhakdi. The...
Insurers Urged to Stress Test Cyber Portfolios for Russian Attack Potential
Apr 4 2022 // Cyber risk and analytics firm CyberCube said it has seen cyber attacks on Ukrainian government services, infrastructure and other industries, and it urges the insurance industry to reevaluate exposures. Russia’s...
Tesla, Other Car Makers Have Edge Over Incumbent Auto Insurers: Moody’s
Apr 4 2022 // Tesla and other car makers represent a growing threat to incumbent auto insurers, even though they have little direct impact on the insurance market today, Moody’s Investors Services said. In a report titled,...
CMS Rules on Settlement Reporting May Sting Insurers and Claimants Both
Apr 4 2022 // For years, the federal agency that runs Medicare has been building a trap to snag any settlements that would force taxpayers to pick up the tab for medical care that should have been paid by others. The Centers for...
Aviation Re/insurers Face Claims as High as $10B From Planes Grounded in Russia
Apr 4 2022 // Insurers and reinsurers could face claims as high as US$10 billion in a worst-case scenario due to the grounding of planes in Russia, Fitch Ratings said. More than 500 planes that are financed or owned by non-Russian...
