Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Sanctions Against Russia ‘Manageable’ for UK Insurers, Banks: Regulator
Mar 9 2022 // Sanctions against Russia in response to its invasion of Ukraine are “manageable” for Britain’s insurers and wider financial sector, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain is...
London’s Marine Insurers Widen High-Risk Shipping Areas as Ukraine Conflict Escalates
Mar 9 2022 // London’s marine insurance market has widened the area of waters around the Black Sea and Sea of Azov that it deems high risk as Russia’s invasion of Ukraine intensifies and perils to merchant shipping grow. The...
Florida Class Action Wants Answer: Must Insurer Pay Attorney Fees for Pre-Suit Notices?
Mar 9 2022 // Florida’s Senate Bill 76, signed into law last June, was supposed to help reduce insurance claims litigation by making policyholders give 10-day notice before they file suit. The idea was to give insurers a little...
FMCSA Declares Texas Motor Carrier to be an Imminent Hazard to Public Safety Following Fatal Crash
Mar 8 2022 // The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) has declared Koboat Trucking LLC, USDOT No. 3273682, a Houston-based motor carrier, to be an “imminent hazard”...
Avatar Becomes Second Florida Insurer to Face Insolvency This Year
Mar 8 2022 // Two weeks after St. Johns Insurance Co. was declared insolvent, Florida regulators have taken steps to begin liquidating Tampa-based Avatar Property & Casualty Insurance Co., making it the second carrier this year to...
Insurers Refuse to Pick Up Bill for Billions in Opioid Claims
Mar 8 2022 // A multibillion-dollar bill is coming due for the U.S. opioid epidemic and insurers for some of the largest drug makers, distributors and pharmacies are refusing to help pay for it. A Delaware Supreme Court ruling in...
Miss. Supreme Court: No Sanctions for Insurer that Fought Septic Tank Order
Mar 8 2022 // In a workers’ compensation case that has been called “highly unusual,” Employers Insurance Co. of Wausau has avoided having to pay for a new septic tank, a new central air system and vehicle insurance for...
Insurers Urged to Stress Test Cyber Portfolios for Russian Attack Potential
Mar 7 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...
Florida Insurers Crying Foul Over Slide’s ‘Favored’ Treatment in St. Johns Insolvency
Mar 7 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 flying...
How Data-Rich Telematics Is Accelerating the Future of Auto Insurance
Mar 7 2022 // Auto insurance pricing is complex, challenging carriers to deliver competitive rates that effectively balance risk with profit potential. Fortunately, the evolution of telematics has streamlined the pricing process to...
Small Business Revolution
Mar 7 2022 // Optimism, Resiliency Open New Doors for Sector Sector Buoyed by Record Start-Ups, Pandemic Resiliency The global pandemic, economic recession and worldwide supply chain shortages have not hindered the optimism and drive of...
Supreme Court Asked to Resolve Federal Drug Law v. State Medical Marijuana Laws Debate
Mar 7 2022 // The U.S. Supreme Court has been asked to address whether the federal drug law that criminalizes possession of marijuana invalidates state orders requiring employers and their workers’ compensation insurers to pay for...
Russian Cyberattacks May Test Insurer War Exclusion Policy Language
Mar 4 2022 // The Russian invasion of Ukraine has increased the risk of cyberattacks and potential claim costs for property/casualty (P/C) insurers globally that offer cyber coverage, the majority of which is underwritten in North...
China Instructs State Insurers to Review Exposure to Russia, Ukraine
Mar 4 2022 // China has told top state insurers to perform urgent checks on their exposure to Russia and Ukraine, as concerns swirl about the damage to the two economies amid intense fighting, according to two sources and documents seen...
London Halts Stocks, Trade Insurers Withdraw Cover as Isolation of Russia Intensifies
Mar 4 2022 // Russia’s global financial isolation intensified on Friday as the London Stock Exchange (LSE) suspended trading in its last Russian securities and some insurers withdrew cover from exporters over Moscow’s...
Florida DFS Takes Action Against Public Adjuster Insurers Had Crossed With
Mar 4 2022 // After several months of investigation, Florida regulators have filed an official action against a public adjuster that insurance companies had complained about, a move that could soon lead to the suspension of his license...
Italian Insurer Generali to Pull Out of Russia, Give Up Seats on Russian Insurer Board
Mar 4 2022 // Leading Italian insurer Generali said on Thursday it was pulling out of Russia after Moscow’s invasion of Ukraine, while Intesa Sanpaolo, Italy’s biggest bank, is reviewing its presence there. Generali said...
Delaware Regulator Urges Ban on Gender-Based Auto Insurance Rating
Mar 3 2022 // The Delaware Insurance Department has issued a report critical of the use of gender in auto insurance rating and concluding that the state should end the practice as six other states have done. The report found that...
Ship Insurer West Withdraws Cover on 2 Russian Ships Over U.S. Sanctions
Mar 3 2022 // British ship insurer West of England has withdrawn cover for two container ships operated by Russia’s FESCO Transportation Group after the vessels were listed by the U.S. Treasury as part of broader sanctions, West...
Could the Ukraine Crisis Move Florida to Fix Its Insurance Crisis?
Mar 2 2022 // With the March 11 scheduled close of its regular session fast approaching, the Florida Legislature remains so focused on putting the finishing touches on its various culture-war signaling bills that one might think...
