Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Cognizant Expects Insurers to Cover Bulk of $95M Settlement with Shareholders
Sep 9 2021 // Cognizant Technology Solutions Corp. has reached a $95 million settlement to resolve a lawsuit accusing the information technology services company of defrauding shareholders by concealing bribes to officials in India. A...
South Africa’s State Insurer Sasria Looking for Bigger Bailout
Sep 8 2021 // CAPE TOWN — South Africa’s state-owned insurance company Sasria is in talks with National Treasury for a larger bailout than the 3.9 billion rand ($272 million) already promised, its managing director told a...
DFS Directs New York Insurers to Expedite Tropical Depression Ida-Related Claims
Sep 7 2021 // The New York State Department of Financial Services (DFS) has issued a circular letter to New York-regulated insurers to expedite Tropical Depression Ida-related insurance claims. On September 1, 2021, the remnants of...
Ida’s Hammering of Mid-Atlantic States May Have Insurers Reassessing Region
Sep 7 2021 // California and Florida have long been seen as risky areas for insurers because of earthquakes, wildfires and storms. In the wake of hurricanes Ida and Henri, parts of the Mid-Atlantic region may be added to the...
Large Insurers Embrace Digital Exchanges, Selling Their Own and Other Policies
Sep 7 2021 // Major U.S. insurers are joining new digital exchanges to sell not only their own policies but also those of rivals, a fresh twist in an industry known for fierce competition. The powerful new platforms, including Semsee,...
Insurers Urged to Pay Prohibited Use Coverage to Ida-Displaced Louisiana Policyholders
Sep 7 2021 // As tens of thousands of Louisianians are experiencing hardship after Hurricane Ida in the face of evacuations, physical damage to their homes and businesses, power outages, a lack of drinking water and localized gas...
With Federal Legalization Expected, Cannabis Insurers Get Ready
Sep 6 2021 // Insurers are quietly gearing up for a potential ten-fold increase in sales to the booming $17.6 billion-a-year cannabis industry as Congress inches closer to legalizing pot at the federal level. While 36 U.S. states and...
White House, Big Tech, Insurers Vow to ‘Raise the Bar’ on Cybersecurity
Sep 6 2021 // The U.S. government in late August said it would work with the industry to hammer out new guidelines to improve the security of the technology supply chain, as President Joe Biden appealed to private sector executives to...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Sep 6 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
56% of Insurance Companies Plan to Hire Within the Year: Jacobson
Sep 6 2021 // In the next 12 months, 56% of insurance companies plan to increase staff while 37% plan to maintain their current staff size, according to The Jacobson Groups’ latest labor study. Technology, claims and operations...
South African Insurer Discovery Says Ping An Investment Costs May Mean Capital Raise
Sep 2 2021 // South African insurer Discovery scrapped its annual dividend again on Thursday and said it may have to raise equity capital to cover costs linked to its investment in China’s Ping An, sending its shares down 8%. The...
German Insurers’ 2021 Claims Could Reach €11.5B ($13.6B) After Floods, Hail
Sep 2 2021 // German insurers face claims of about 11.5 billion euros ($13.6 billion) in 2021 after extensive flooding and hail storms, Germany’s insurance lobby GDV said on Thursday. It could be the most expensive year for...
Insurers Pull Back as Risks of Satellite and Space Debris Collisions Surge
Sep 1 2021 // An ever-swelling amount of space debris is threatening satellites that hover around Earth, making insurers leery of offering coverage to the devices that transmit texts, maps, videos and scientific data, industry sources...
Moody’s: Ida’s Impact Likely to Be Greater on Regional Insurers, State’s LA Citizens
Aug 31 2021 // While large, national property/casualty insurers with leading market shares in both the residential and commercial property markets in Louisiana will be exposed to losses resulting from Hurricane Ida, which hit the state...
‘Mission: Impossible’ Movie Producer Sues Insurer Over 7 Coronavirus Stoppages
Aug 31 2021 // Production on the new “Mission: Impossible” movie was shut down seven times due to the coronavirus pandemic, according to a lawsuit filed on Monday that accuses the film’s insurance company of failing to...
Insurers Settle Washington Boys Home Sex Abuse Case for $9M
Aug 31 2021 // Insurance companies have settled another sexual abuse lawsuit brought against Kiwanis International, this time for $9 million in a case involving seven men who were sexually abused at a Centralia, Washington, group home...
New Law Impacts Missouri Insurance Producers, Insurers
Aug 30 2021 // A new Missouri law that went into effect on Aug. 28 revises provisions for producer license renewals and provides opportunities toward continuing education credits for insurance professionals. It also enacts several...
56% of Insurance Companies Plan to Hire Within the Year: Jacobson
Aug 26 2021 // In the next 12 months, 56% of insurance companies plan to increase staff while 37% plan to maintain their current staff size, according to The Jacobson Groups’ latest labor study. Technology, claims and operations...
Canada’s Ruling Party Plans Tax Hike for Big Insurers, Banks to Fund COVID Recovery
Aug 26 2021 // OTTAWA – Canada’s ruling Liberal Party said on Wednesday that if re-elected it would raise corporate taxes on the most profitable banks and insurers to help pay for the cost of the COVID-19 recovery. The Liberals...
Insurers Need to Accelerate Exit From Oil & Gas Industry to Meet Climate Goals: Report
Aug 26 2021 // For the insurance industry to fulfill its stated commitment to combat climate change, it may want to accelerate its efforts to exit the oil and gas industry. To date, just one insurer has promised to take...
