Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Opinion: New Missouri Legislation Protects Insurers from Unreasonable Arbitration Awards and Findings
Jul 8 2021 // Missouri recently enacted legislation that prohibits a claimant, tortfeasor, or any other party from using an arbitration award against any liability insurer that did not agree to the arbitration. The new legislation also...
Washington Commissioner Wants Auto Claims, Rebate Data from Insurers
Jul 7 2021 // Washington Insurance Commissioner Mike Kreidler issued a data call of 124 auto insurance companies for recent rebates given to policyholders during the COVID-19 pandemic. Kreidler is requesting claims data for private...
Leading by Example: How Insurers Can Manage Cyber Risk Within Their Own Operations
Jul 7 2021 // Powered by InsuranceJournal.tv Insurers often advise clients on cyber resilience, however, many in the industry overlook their own risks or struggle to take their own advice to insureds, according to guests on this episode...
Louisiana Orders Insurer to Halt Non-Renewing Homeowners Policies after 2020 Hurricane Season
Jul 6 2021 // Louisiana Insurance Commissioner Jim Donelon has ordered GeoVera Specialty Insurance Co. to stop non-renewing Louisiana homeowners policies in violation of state law. In a cease and desist order issued last week, Donelon...
Michigan Reminds Insurers: ‘Zero-Dollar Claim’ Is Not a Loss
Jul 5 2021 // Michigan insurance regulators in a June 15 bulletin reminded property/casualty insurance companies that relying on a “zero-dollar claim” in their insureds’ loss history is not allowed. In Bulletin...
Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers
Jul 5 2021 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2020 data for property/casualty...
Grim California Wildfire Outlook Has Insurers Forking Over Big Bucks for Modeling
Jul 5 2021 // Severe drought and searing temperatures are not the only proof that Californians should be worried about wildfires this year. A glaring piece of evidence that there’s ample cause for concern is this: those who will...
P/C Insurers Defend Ransomware Reimbursements in New Cyber Principles
Jul 2 2021 // The nation’s largest property/casualty insurance organization is defending ransom payment reimbursements by insurers in a new set of principles stressing that the insurance industry wants to partner with government...
Insurers’ Own Infrastructure Could Be Next Targets of Cyber Criminals
Jul 2 2021 // As “the next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert. With “a lack of controls at [an] insurer, [you] could have...
Governor Signs 4 Bills Impacting Texas Windstorm Insurer
Jul 2 2021 // Numerous measures relating to the Texas Windstorm Insurance Association were filed in the Texas Legislature in 2021 and four made it to Gov. Greg Abbott’s desk. One, House Bill 769, has only two provisions. Authored...
Consumer Report Claims Insurers Overcharged California Motorists $5.5B During First Year of Pandemic
Jun 29 2021 // Most California insurance companies continued to charge pre-pandemic auto insurance rates despite a vast majority of Californians driving far less last year, according to an analysis by Consumer Watchdog on Tuesday. The...
California Workers’ Comp Insurer Losses and Expenses $12B for 2020
Jun 29 2021 // The Workers’ Compensation Insurance Rating Bureau of California has released its latest report on workers’ comp losses and expenses for 2020. Key findings in the report, 2020 California Workers’...
French Mutual Insurer Covéa Eyes Purchase of AXA XL’s Reinsurance Business: Reports
Jun 28 2021 // Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in a deal that could be valued at €5 billion, according to press reports. The news story, which originally...
Dutch Insurer NN Group Offers to Buy Part of MetLife’s European Businesses
Jun 28 2021 // NN Group NV offered to acquire part of MetLife Inc.’s businesses in Europe, saying the move is in line with its strategy to consolidate leading positions in attractive growth markets. The Dutch insurer said in a...
Japanese Insurers Struggle with Climate Change Cost Estimates
Jun 25 2021 // TOKYO – As the world tries to price the cost of climate change, Japan’s second largest non-life insurer MS&AD foresees the potential rise in claim payments in 2050 to be anywhere between 5% to 50% from current...
Explaining Climate Change and Financial Disclosure for Insurers
Jun 25 2021 // TOKYO – Japanese financial institutions are struggling to put a price tag on the cost of climate change, an effort made difficult by the long timeframe and a lack of data for making credible predictions. Non-life insurer...
Bezos’ 2021 Space Odyssey Is a Risk Too Far for Insurers
Jun 25 2021 // Launching one of the richest individuals on earth into orbit has proved a leap too far for insurers, who are not ready to price the risk of losing Jeff Bezos or his fellow space travelers. Amazon CEO Bezos, a lifelong...
Insurors Indemnity Ratings Unchanged by Colonial Lloyds Announcement: AM Best
Jun 23 2021 // AM Best says the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Insurors Indemnity Companies (Insurors Indemnity), based Waco, Texas, remain unchanged...
Latest Boy Scouts Bankruptcy Plan Increases Victims’ Fund, Drops Insurer’s $650M Offer
Jun 23 2021 // The latest bankruptcy plan filed by the Boy Scouts of America increases the contributions from the BSA and its local councils to a proposed trust fund for child sex abuse victims while appearing to back away from a...
Insurer Begins Accepting Cryptocurrency for Premium Payments
Jun 23 2021 // Michigan-based Universal Fire & Casualty Insurance Co. has started accepting cryptocurrency for premium payments. The company, which insures small businesses and offers surety bonds products, says the move is to...
