Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Lloyd’s Insurer Lancashire Sees Manageable Russia-Ukraine Losses
Apr 28 2022 // Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk...
Britain Proposes Post-Brexit Relaxation of Solvency II Capital Rules for Insurers
Apr 28 2022 // Britain launched public consultation on Thursday for a post-Brexit relaxation of capital rules for insurers, in a step the government said would increase investments in long-term infrastructure. Britain inherited rules...
Oklahoma Insurers to be Assessed $150 to Fund Market Assistance Program
Apr 27 2022 // All Property & Casualty insurers in Oklahoma will face a $150 assessment to fund the Oklahoma Market Assistance Program (OK-MAP) Plan of Operation, the Oklahoma Insurance Department announced this week. The OK-MAP Plan...
India Slashes Size of Mega Insurer’s IPO With Issue Opening Next Week
Apr 27 2022 // India slashed the size of its biggest initial public offering by about 60%, pressing ahead with the sale even as the war in Ukraine continues to weigh on investor demand. Prime Minister Narendra Modi’s government...
U.S. Lawmakers Push Insurers to Stop Underwriting Fossil Fuels
Apr 27 2022 // A group of Democratic lawmakers, mostly members of the Congressional Progressive Caucus, have asked some of the nation’s biggest insurance companies to stop underwriting new fossil fuel projects that contribute to...
Insurer Jumped Gun with Appeal on CBD Plant Fire Claim, Appeals Court Finds
Apr 22 2022 // Insurance company officials and attorneys have been known to complain when policyholders file suit before the parties have had a chance to settle a claim. In West Virginia, it was the insurer, Kinsale Insurance Co., that...
Aspen Becomes 17th Insurer to Stop Insuring Canada’s Trans Mountain Pipeline
Apr 21 2022 // Lloyd’s of London syndicate Aspen Insurance has decided to cut ties with the existing Trans Mountain pipeline when its current insurance policy expires this summer, according to the climate activist group, Coal...
AM Best Withdraws Credit Ratings of Old Glory Insurance Company
Apr 21 2022 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Old Glory Insurance Company, based in...
Innovation Boosts Carrier Top Lines: AM Best
Apr 20 2022 // Insurers with well-developed innovation initiatives have much higher levels of top-line growth than those who lag behind on the innovation curve, AM Best reported last month. In a special report titled “Insurers...
Carrier and Agency Duties Under the DOL Fiduciary Rule
Apr 20 2022 // This post is part of a series sponsored by AgentSync. The insurance industry thrives on rewarding top-selling agents, but the Department of Labor’s (DOL’s) fiduciary rule says traditional sales incentives tied...
Insurer Travelers’ Profit Beats on Lower Catastrophe Losses
Apr 19 2022 // Property and casualty insurer Travelers Companies Inc. reported a 48% jump in quarterly profit that beat analysts’ estimates on Tuesday, as lower catastrophe-related claims cushioned a hit from investment losses. The...
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...
