Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Illinois Court: Insurers Cannot Exclude UIM Coverage for Bicyclists and Pedestrians
Oct 5 2022 // Auto insurance carriers must pay uninsured motorist benefits to insureds who are injured by motor vehicles while walking or bicycling, even if their policies explicitly provide coverage only to occupants of insured...
California Tells Auto Insurers to Disclose Pandemic Profits
Oct 4 2022 // California’s insurance commissioner ordered nearly 50 auto insurers to provide detailed information about their claim costs during the pandemic, his latest attempt to compensate consumers he says were overcharged as...
Insurer Off the Hook in Defending Western Union Against Terrorist Financing Suit
Sep 30 2022 // An insurer’s war and financial services exclusions relieve it of having to provide coverage for an insured being sued for allegedly aiding international terrorists responsible for the crash of Malaysia Airlines...
Hurricane Ian Losses Up to $47B in Florida, Sinking More Insurers, CoreLogic Calculates
Sep 30 2022 // Wind and storm-surge losses from Hurricane Ian could reach as $47 billion in Florida alone, a figure made larger by inflation and rising interest rates, the property analytics firm CoreLogic said in a new...
Connecticut Regulates ‘Defense Within Limits’ Provisions by Insurers
Sep 29 2022 // Connecticut’s insurance regulator has provided commercial insurers with updated guidance on “defense within limits” policy provisions including the lines of insurance on which they may be included and the...
Insurers Ask Court in New York to Seize, Sell Vessel to Pay $39M in Cargo Losses
Sep 29 2022 // More than 30 insurers that have paid an estimated $39 million in lost cargo claims, along with cargo owners without insurance, have asked the courts to seize and sell the Japanese vessel ONE Apus to cover their claims. The...
Insurers Should Be Ready for Global Average Disaster Losses of $123 Billion: Verisk
Sep 29 2022 // The global insurance industry should be prepared for insured losses from natural catastrophes well in excess of $100 billion every year, according to the 2022 Global Modeled Catastrophe Losses Report from Verisk Extreme...
UK Insurers, Banks Told to Do More to Help Customers Struggling With Cost of Living
Sep 29 2022 // Britain’s Financial Conduct Authority (FCA) told banks and insurers on Thursday to do more to help customers struggling with a cost of living crisis as it investigates 40 banks for dragging their feet. Interest rates...
Insurers Warn California’s Inaction Threatens Auto Policies
Sep 27 2022 // Top U.S. insurance companies and associations say California is risking a crisis in the nation’s largest automobile insurance market by refusing to approve any rate increases for more than two years, since the start...
Florida Comp Insurers Challenge Hospital Payment Plan. Up Next: Physician Dispensing
Sep 22 2022 // A group of workers’ compensation carriers has filed a formal challenge to the state’s hospital reimbursement plan, arguing that payment levels would be far out of line with what other states allow and what...
Congress Examines Insurer Diversity; Results ‘Disappointing,’ Lawmakers Say
Sep 22 2022 // The insurance industry still has a lot of work to do when it comes to diversity, equity and inclusion. In fact, despite a strong DEI push across the industry, there was little change in racial, ethnic and gender...
Hong Kong Insurer AIA in Talks to Buy Philippine’s MediCard: Sources
Sep 22 2022 // AIA Group Ltd. is in advanced talks to acquire MediCard Philippines Inc., people familiar with the matter said, as the insurance giant seeks to boost its presence in Southeast Asia. AIA and MediCard are finalizing the...
American Family First U.S. Insurer to Join The Climate Pledge
Sep 20 2022 // American Family Insurance has become the first U.S.-based insurance company to sign The Climate Pledge, joining 375 other national and global companies across more than 53 industries and 34 countries in a further...
Coalition of Insurers, Pension Funds Commit $7.1 Trillion to Support 1.5°C Climate Goal
Sep 20 2022 // A coalition of pension funds and insurance companies that includes Allianz SE, the California Public Employees’ Retirement System and Zurich Insurance Group AG have committed to managing $7.1 trillion of assets in...
Trial Lawyers Back Republican in Florida House Race, Insurers Favor Democrat
Sep 20 2022 // In a twist of fate and a sign of the times, some Florida business groups are backing the Democrat in a state House race in the Tampa area, while trial lawyers are putting their weight behind the Republican challenger. The...
Basketball Hall of Fame and Chubb Insurer Hit the Court Over D&O Coverage
Sep 20 2022 // The Basketball Hall of fame (BHoF) is suing Chubb Group subsidiary Federal Insurance Co. to have the insurer defend and indemnify it in a case accusing it of attempting to unlawfully secure funds for renovations to its...
AMBest Report Shows Florida Insurers Far Out of Line on Reinsurance Dependency
Sep 15 2022 // Mango Questions State-Run Ratings Agency Idea Florida-domiciled property carriers are extremely reliant on the reinsurance market, making them vulnerable to coming price hikes, a just-released report from the AM Best...
ePayPolicy Announces CheckMate: “Insurance Companies May Never Touch a Paper Check Again.”
Sep 14 2022 // ePayPolicy adds rapid check collection and reconciliation to their digital payments platform, advancing faster, modern payments for insurance companies. Austin, TX., September 14, 2022 – ePayPolicy today launched...
Hong Kong Insurer FWD Refiles Application for Hong Kong IPO, Eyeing 2023 Listing
Sep 14 2022 // FWD Group Holdings Ltd., the Asian insurer backed by billionaire Richard Li, has refiled an application for a Hong Kong initial public offering as it now weighs a listing next year amid market volatility. The renewed...
Ohio Court: Insurer Has No Duty to Defend Drug Distributor Against Opioid Lawsuit
Sep 9 2022 // An insurer has no duty to defend a drug distributor against lawsuits filed by cities and counties that allege it failed to take proper steps to prevent abuse of prescription opioids, the Ohio Supreme Court ruled...
