Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurtech Coalition Forms Captive Insurer to Enhance Cyber Insurance Capacity
Dec 13 2021 // Managing general insurance agency and cyber security company Coalition has launched a captive insurer to begin taking risk on its cyber insurance programs. The captive, domiciled in Hawaii, will provide capacity in...
Insurer Mapfre to Make $983.8M Pay-out for Construction Issues With Colombia Dam
Dec 13 2021 // Spanish insurer Mapfre on Friday signed a contract to make a $983.8 million contingency pay-out to Colombia’s Empresas Publicas de Medellin (EPM) over issues with the construction of the massive Hidroituango dam. The...
British Insurer LV= Rejects Bain Takeover Bid; Royal London Wants to Talk
Dec 10 2021 // British mutual life insurer LV= on Friday abandoned a proposed 530 million pound ($701 million) takeover by private equity giant Bain Capital after it lost a member vote, and rival Royal London put forward an alternative...
Other Services Beat P/C Insurers in Providing Digital Customer Experience: J.D. Power
Dec 10 2021 // The property/casualty insurance industry is falling behind financial services and utilities providers when it comes to the digital customer experience. Throughout 2021, just 40 percent of claimants interacted with an...
Auto Insurers Can Use ‘Hybrid’ Model on Med Reimbursement, Florida High Court Rules
Dec 9 2021 // Automobile insurance carriers in Florida may limit reimbursement to health providers in keeping with a fee schedule in a personal injury protection policy, the Florida Supreme Court decided in a decision posted...
New Insurer Sets Sail in Florida’s Stormy Waters, Credits Legislative Reforms
Dec 9 2021 // For the first time in almost a decade, a new insurance carrier is wading into the troubled Florida waters, and is expected to make take-out offers to more than 42,000 Citizens Property Insurance policyholders. David...
Nevada Jury Says Health Insurers Owe ER Doctors $60M in Damages
Dec 9 2021 // One of the largest U.S. health insurance companies and its branches in Nevada were found liable for $60 million in punitive damages for underpaying out-of-network emergency medical providers. A state court jury said three...
BE Group Takes Fresh Look at Buying $10 Billion Insurer Ageas
Dec 7 2021 // BE Group, an investor group fronted by former financial services dealmakers, is exploring the feasibility of a fresh pursuit of Belgian insurer Ageas after a previous attempt was rebuffed, people familiar with the matter...
Heading Into 2022, P/C Insurers Face ‘Massive’ Political Risks, Economic Uncertainty
Dec 7 2021 // Property/casualty insurers head into 2022 facing “massive” political risks, an expert with the Insurance Information Institute said on Dec. 2. Economic uncertainty will also continue despite recovery...
Brokers Report Cyber Insurers Requiring Security Steps Along With Higher Premiums
Dec 6 2021 // Insurers are continuing to take a hard line on underwriting and pricing cyber coverage. While commercial lines prices overall rose 8.9% in the third quarter, cyber premiums increased 27.6%, according to The Council’s...
14 Insurers Pressing Lawsuit vs. Park Service After Gatlinburg Wildfires
Dec 2 2021 // Fourteen insurance companies are pressing ahead with a lawsuit against the federal government, alleging that the National Park Service did little to stop 2016 wildfires that destroyed dozens of homes and businesses in and...
Louisiana Insurers Face $100 Million Assessment Fee after Ida-Related Insolvencies
Dec 2 2021 // Louisiana property and casualty insurers will be assessed $100 million to cover the cost of two regional insurance companies facing insolvency due to losses from Hurricane Ida. The Louisiana Insurance Guaranty Association...
European Insurers Wary of Rising Threat of Sanctions Against Nord Stream 2 Pipeline
Dec 2 2021 // A simmering threat of sanctions against the operator of the $11 billion Nord Stream 2 pipeline risks shutting off cover from European insurers for the politically sensitive project to bring Russian gas directly to...
Florida Appeals Court Rejects Insurer’s Attempt to ‘Retry the Claim’
Dec 2 2021 // An appellate court’s job is to determine whether evidence supports the workers’ compensation judge’s decision, not to weigh information about arguments that have already been rejected, Florida’s 1st...
Insurers Taking Note of Big Verdicts, But Trial Lawyers Say Don’t Count on Changes
Dec 1 2021 // When CVS Pharmacies, just weeks after a Georgia appeals court upheld a $43 million premises liability verdict against the company, announced that it was closing 900 stores around the country, some saw it as a sign of the...
Bain Capital Makes Final Pitch for UK Mutual Insurer LV=
Nov 30 2021 // Bain Capital has made a final pitch to members of British insurer LV= to back its takeover bid, after a lengthy sale process that’s drawn a dozen offers as well as political heat about preserving mutual firms. The...
Owners of Thai Insurer Syn Mun Kong Explore Sale of Majority Stake
Nov 30 2021 // The controlling shareholders of Thai insurer Syn Mun Kong Insurance Pcl are exploring the sale of a majority stake in the firm and have picked several strategic players to advance into the next round of bidding, according...
Definity Financial’s CEO Plots Acquisitions After Insurer’s Canadian IPO
Nov 29 2021 // Definity Financial Corp., the 150-year-old insurer that held its initial public offering [on Nov. 17], will look to use its newfound access to capital to expand through acquisitions, the firm’s top executive...
As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best
Nov 29 2021 // European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both...
Activist Group Calls on Insurers to Sue Oil Companies for Climate Damages
Nov 29 2021 // FRANKFURT – A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the...
