Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
6th Circuit: Insurer’s Hefty Penalty on Employer’s Audit Non-Compliance Will Stand
Mar 17 2022 // A workers’ compensation insurance company’s hefty penalty against its non-compliant insured will likely stand, after a federal appeals court found that the matter was governed by state insurance regulators, not...
Thailand Regulator Orders 2 Non-Life Insurers to Stop Accepting New Clients
Mar 17 2022 // Thailand’s insurance regulator ordered Southeast Insurance Pcl and Thai Insurance Pcl to stop taking new clients and sell some assets after their capital fell below the legally required levels. The non-life units of...
Burn the Client or Burn the Carbon? Insurer AXA Grapples With Clean Energy Transition.
Mar 17 2022 // The glass tower in Paris where AXA SA, one of the world’s largest insurers, has its temporary headquarters looks as if a giant feral cat has ripped chunks out of it. In recent months that jagged feeling extends...
Prime Insurance Company Announces Underwriting Leadership Promotions
Mar 16 2022 // Chicago, IL USA, March 16, 2022 — Rick J. Lindsey, President, CEO and Chairman of Prime Insurance Company recently announced Richard Bryant to the position as President of Underwriting. Richard joined Prime Insurance...
Leading Generali Investor Proposes Insurer’s Austria Chief as New CEO
Mar 16 2022 // A leading Generali shareholder on Tuesday proposed naming the Italian insurer’s head of Austria as its new chief executive, in a challenge to the reappointment of Philippe Donnet. Generali’s outgoing board has...
California Commissioner Wants Insurers to Withdraw Russian Financial Support
Mar 14 2022 // California Insurance Commissioner Ricardo Lara on Monday issued a notice to all insurance companies doing business in the state to review their financial holdings and take immediate steps to identify and divest from any...
Aircraft Lessors Face Legal Quagmire on Russia Jet Repos. Will Insurers Provide Relief?
Mar 11 2022 // Global leasing companies staring at an imminent sanctions deadline to repossess more than 400 jets worth almost $10 billion from Russian airlines have received mostly radio silence as experts warn of legal wrangling that...
Kazakhstan’s Flagship Air Carrier Suspends Flights to Russia Amid Insurance Issues
Mar 11 2022 // Kazakhstan’s flagship carrier, Air Astana, has suspended all flights to Russia and over Russian territory because such flights can no longer be insured, the company said on Friday. Air Astana, in which...
Lawsuits vs. Citizens Insurer Continue to Rise But Legal Fees and Payouts Dropping
Mar 11 2022 // A committee of the Citizens Property Insurance Corp. governing body produced some good news on litigated claims and some bad news Thursday, giving further insight into a big part of Florida’s insurance market. The...
Tesla, Other Car Makers Have Edge Over Incumbent Auto Insurers: Moody’s
Mar 10 2022 // Tesla and other car makers represent a growing threat to incumbent auto insurers, even though they have little direct impact on the insurance market today, Moody’s Investors Services said. In a report titled,...
AM Best Downgrades Outlook for Florida Family Insurance Companies
Mar 10 2022 // The AM Best rating firm has downgraded the credit rating and the outlook for Florida Family Insurance and its subsidiary, Florida Family Home Insurance Co. The rating firm said the companies’ long-term issuer credit...
WCRA to Distribute $600 Million to Minnesota Workers’ Comp Insurers, Self-Insurers, Policyholders
Mar 10 2022 // The Workers’ Compensation Reinsurance Association (WCRA) will distribute $600 million to Minnesota’s insurers, self-insurers and policyholders, the association announced this month. The WCRA Board of Directors,...
New Chief at Pinnacol in Colorado Plans to Transform Hundred-Year-Old Carrier to Deal with Changing Workforce
Mar 10 2022 // John O’Donnell picked an interesting time to change jobs. The way the world works is radically changing, and just as the pandemic – apparently – wanes, he’s taking the helm of a large workers’...
Illinois District Court: Insurer Cannot Rely on Employment-Related Exclusion in BIPA Suit
Mar 9 2022 // An Illinois federal judge said a policy exclusion for employment-related practices does not protect State Automobile Insurance Co. from defending a grocery chain accused of violating the Illinois Biometric Information...
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...
