Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers, Brokers Among Those Named World’s Most Ethical Companies
Mar 22 2022 // Two property and casualty insurers and two brokers were included within a list compiled by Ethisphere of the most ethical companies in the world. The 16th annual report from Ethisphere, a company that defines and measures...
Aviation Re/insurers Face Claims as High as $10B From Planes Grounded in Russia
Mar 22 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...
Financial Market Volatility From Russia-Ukraine War Likely to Affect European Insurers
Mar 22 2022 // The Russia-Ukraine war is more likely to affect the European insurance sector through second-order financial market volatility than through direct effects from sanctions, according to Fitch Ratings. The rating agency...
Florida Insurers Cry Foul Over Slide’s ‘Favored’ Treatment in St. Johns Insolvency
Mar 21 2022 // The news that a startup Florida insurance company will assume $400 million in policies from the now-insolvent St. Johns Insurance Co. – without input from other carriers – has set tongues wagging and emails...
Georgia Insurance Commissioner Urges Insurers to Divest Their Russian Assets
Mar 18 2022 // King The Georgia insurance commissioner has joined his California counterpart in calling on insurers to divest their Russian business interests in the midst of the bloody Russian invasion of Ukraine. “The fact that...
Aircraft Insurers Brace for Barrage of Russia Claims in Possibly Biggest Aviation Loss
Mar 18 2022 // Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of...
6th Circuit: Insurer’s Hefty Penalty on Employer’s Audit Non-Compliance Will Stand
Mar 17 2022 // A workers’ compensation insurance company’s hefty penalty against its non-compliant insured will likely stand, after a federal appeals court found that the matter was governed by state insurance regulators, not...
Thailand Regulator Orders 2 Non-Life Insurers to Stop Accepting New Clients
Mar 17 2022 // Thailand’s insurance regulator ordered Southeast Insurance Pcl and Thai Insurance Pcl to stop taking new clients and sell some assets after their capital fell below the legally required levels. The non-life units of...
Burn the Client or Burn the Carbon? Insurer AXA Grapples With Clean Energy Transition.
Mar 17 2022 // The glass tower in Paris where AXA SA, one of the world’s largest insurers, has its temporary headquarters looks as if a giant feral cat has ripped chunks out of it. In recent months that jagged feeling extends...
Prime Insurance Company Announces Underwriting Leadership Promotions
Mar 16 2022 // Chicago, IL USA, March 16, 2022 — Rick J. Lindsey, President, CEO and Chairman of Prime Insurance Company recently announced Richard Bryant to the position as President of Underwriting. Richard joined Prime Insurance...
Leading Generali Investor Proposes Insurer’s Austria Chief as New CEO
Mar 16 2022 // A leading Generali shareholder on Tuesday proposed naming the Italian insurer’s head of Austria as its new chief executive, in a challenge to the reappointment of Philippe Donnet. Generali’s outgoing board has...
California Commissioner Wants Insurers to Withdraw Russian Financial Support
Mar 14 2022 // California Insurance Commissioner Ricardo Lara on Monday issued a notice to all insurance companies doing business in the state to review their financial holdings and take immediate steps to identify and divest from any...
Aircraft Lessors Face Legal Quagmire on Russia Jet Repos. Will Insurers Provide Relief?
Mar 11 2022 // Global leasing companies staring at an imminent sanctions deadline to repossess more than 400 jets worth almost $10 billion from Russian airlines have received mostly radio silence as experts warn of legal wrangling that...
Kazakhstan’s Flagship Air Carrier Suspends Flights to Russia Amid Insurance Issues
Mar 11 2022 // Kazakhstan’s flagship carrier, Air Astana, has suspended all flights to Russia and over Russian territory because such flights can no longer be insured, the company said on Friday. Air Astana, in which...
Lawsuits vs. Citizens Insurer Continue to Rise But Legal Fees and Payouts Dropping
Mar 11 2022 // A committee of the Citizens Property Insurance Corp. governing body produced some good news on litigated claims and some bad news Thursday, giving further insight into a big part of Florida’s insurance market. The...
Tesla, Other Car Makers Have Edge Over Incumbent Auto Insurers: Moody’s
Mar 10 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,...
AM Best Downgrades Outlook for Florida Family Insurance Companies
Mar 10 2022 // The AM Best rating firm has downgraded the credit rating and the outlook for Florida Family Insurance and its subsidiary, Florida Family Home Insurance Co. The rating firm said the companies’ long-term issuer credit...
WCRA to Distribute $600 Million to Minnesota Workers’ Comp Insurers, Self-Insurers, Policyholders
Mar 10 2022 // The Workers’ Compensation Reinsurance Association (WCRA) will distribute $600 million to Minnesota’s insurers, self-insurers and policyholders, the association announced this month. The WCRA Board of Directors,...
New Chief at Pinnacol in Colorado Plans to Transform Hundred-Year-Old Carrier to Deal with Changing Workforce
Mar 10 2022 // John O’Donnell picked an interesting time to change jobs. The way the world works is radically changing, and just as the pandemic – apparently – wanes, he’s taking the helm of a large workers’...
Illinois District Court: Insurer Cannot Rely on Employment-Related Exclusion in BIPA Suit
Mar 9 2022 // An Illinois federal judge said a policy exclusion for employment-related practices does not protect State Automobile Insurance Co. from defending a grocery chain accused of violating the Illinois Biometric Information...
