Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Insurers Take Heart From Appeals Court Rejection of Large Attorney Fee
Nov 3 2021 // Few things enrage insurers more than what appear to be exorbitant attorney fees, and Florida may be ground-zero on that issue, thanks in part to the state’s fee-multiplier statute. So, industry advocates were...
Missouri Judge Rules in Favor of Insurer in COVID-19 Business-Interruption Claim
Nov 3 2021 // A Kansas City jury decided in favor of the insurer in the nation’s first jury trail of a lawsuit that sought coverage for business-interruption losses caused by the coronavirus. The jury for the U.S. District Court...
Proposed Mass. Bill Limits Auto Claims Investigations, Shifts Payments to Insurers
Nov 2 2021 // A proposed bill was heard last month in the Massachusetts legislature that aims to place a time limit on auto insurance claims investigations and would make investigating insurers responsible for premium payments until the...
Where U.S. Insurers Are in Integrating Environmental, Social, Governance Issues
Nov 2 2021 // U.S. insurers are increasingly listening to demands from stakeholders that they use social, environmental and governance factors in their decision-making. According to an AM Best survey, 6 in 10 companies are aware of...
Insurer Hiscox Sets Aside $150M for Hurricane Ida, European Flood Losses
Nov 2 2021 // Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising...
Court Suspends Attorney For Failing to Disclose Work for Insurance Company
Nov 2 2021 // The Florida Supreme Court has suspended an attorney for 45 days after he failed to disclose his insurance connection to the widow of a man who died in a scuba diving accident. Craig Jenni, of Boca Raton, will also be on...
Gate Causes Accident But Insurer Off the Hook, Court Rules
Nov 2 2021 // The family of a driver who was killed when a sawmill’s gate swung into the road is not due $900,000 in damages from an insurance company, due to a policy exclusion for auto accidents, the U.S. 5th Circuit Court of...
Generali Acquires Italy Insurer Cattolica to Boost Domestic Market Leadership
Nov 1 2021 // Italy’s top insurer Generali sealed its 1.17 billion euro ($1.36 billion) takeover of smaller rival Cattolica on Friday in a move aimed at cementing its domestic market leadership. On the last day of Generali’s...
Top Reasons Insurers Decline Cyber Insurance
Nov 1 2021 // Insurers make money by assuming the business risks of their customers for a fee. They make a profit only if the estimated aggregate cost of the risk for all their customers is less than the aggregate fees for assuming the...
Pay-Per-Mile Digital Insurer Metromile to Add More Independent Agents
Nov 1 2021 // By Andrew G. Simpson Pay-per-mile digital auto insurer Metromile is pursuing what it is calling a “significant” expansion of its use of independent agents to sell its insurance, and it has hired a Travelers...
Amazon-Backed Indian Online Insurer Acko Valued at $1.1B in New Funding Round
Oct 29 2021 // General Atlantic and local private equity firm Multiples Private Equity led a $225 million funding in Acko General Insurance, valuing the Indian online insurer at $1.1 billion. Existing investors including Canada Pension...
Bank of England to Push Banks, Insurers on Climate Risk Capital Requirements
Oct 29 2021 // The Bank of England will crack down from next year on banks and insurers that do not hold enough capital to cover risks from climate change, while also considering bespoke safety buffers. Climate-related financial risks...
La Banque Postale Plans to Buy French Insurer CNP
Oct 28 2021 // PARIS — The banking arm of French mail operator La Poste is planning to buy banking group BPCE’s stake in French insurer CNP, the companies said on Thursday, and then plans to make an offer to buy the rest of the...
For Home Insurers, Weather Proves More Costly While COVID Measures Lower Claims
Oct 28 2021 // Catastrophic weather events such as wildfires, hurricanes and floods caused 39% of home insurance claims in 2020 – the highest percentage in the last six years. According to the 2021 LexisNexis Home Trends Report, the...
How Insurers Can Better Prepare for Wildfire
Oct 28 2021 // This post is part of a series sponsored by CoreLogic. Nine of the 20 largest wildfires in California have occurred since 2020, including four so far in 2021. Five of the 19 largest wildfires in Oregon and three of...
AM Best Upgrades Credit Ratings for Members of Columbia Lloyds Companies – Columbia Lloyds Insurance Company and MDOW Insurance Company
Oct 27 2021 // HOUSTON, TX (October 27, 2021) – AM Best has upgraded the Financial Strength Rating of Columbia Lloyds Insurance Company and MDOW Insurance Company to A- Excellent with a Stable Outlook. “The ratings reflect [the...
As Strikes, Riots and Civil Commotion Risks Increase, Insurers Respond With Exclusions
Oct 27 2021 // Insurers traditionally have offered protection against strikes, riots and civil commotion (SRCC) at no extra cost, but the increased frequency and severity of these risks means property insurers have begun excluding events...
Global Minimum Tax Proposal Could Create Double Taxation for Some Insurers: AM Best
Oct 27 2021 // Given the accounting differences for global insurance companies in different jurisdictions, a new global minimum tax on certain multinational companies creates the potential for double taxation for some insurance...
Insurer Responsible for Damages After Massachusetts Officer Injured During Training
Oct 26 2021 // Driving a truck too fast and injuring a fellow officer during a firearms training is not within the scope of employment duties for a Massachusetts police officer, the Massachusetts Supreme Judicial Court found. This means...
Commercial Liability Insurers Face Growing Number of False Claims Act Cases
Oct 26 2021 // A growing number of False Claims Act investigations combined with recent court decisions that found insurers liable for the cost of settlements may spell trouble for commercial liability insurers. Policyholder attorney...
