Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
White House, Big Tech, Insurers Vow to ‘Raise the Bar’ on Cybersecurity
Aug 26 2021 // The U.S. government on Wednesday said it would work with 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...
UK Insurers Warned They Could Face Regulatory Action Over Car, Home Policies
Aug 25 2021 // LONDON – Insurers in Britain that are not ready to implement tougher “value for money” rules on car and home policies could face disciplinary action, the Financial Conduct Authority said on Wednesday. The FCA...
South Africa’s State Insurer to Raise Premiums to Cover Riot-Related Reinsurance Costs
Aug 25 2021 // JOHANNESBURG – South Africa’s only insurer covering political violence will increase its premiums to cover a rise in reinsurance costs following some of the worst unrest in decades, the head of the state-owned...
Insurer Lessons From UK Court Ruling on Business Interruption: Put Customers First
Aug 25 2021 // COVID-19 has led to the disruption of millions of businesses around the UK, particularly for SMEs who have been beset by an average of £130,000 in late payments. However, the Supreme Court ruling in January provided...
Agency Partnership News Wrap-Up: Smart Choice, United Valley Insurance Services, Valley Insurance Agency Alliance, Keystone Insurers Group
Aug 24 2021 // Smart Choice Agents Program Smart Choice Agents Program, an agency network with over 8,700 independent agents and 100 carrier partners, reported that 631 agents were selected to join the partnership network during first...
Biden Administration Sanctions Russian Insurer for Nord Stream 2: Report
Aug 23 2021 // The Biden administration imposed sanctions on two Russian entities over their involvement in the Nord Stream 2 pipeline project, but is leaving in place a waiver that spared the company overseeing the construction and its...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Aug 23 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...
Boy Scouts Delays Bankruptcy Step After Judge Questions Legal Fees, Insurer Deal
Aug 23 2021 // Attorneys for the Boy Scouts of America are postponing a key bankruptcy hearing that was scheduled to start this week, following a court ruling that casts uncertainty on the future of the case. Attorneys on Friday filed...
Effective Sept. 1 All Auto Insurers in Texas Must File Rates with Actuarial Support
Aug 20 2021 // A bill that becomes effective in Texas repeals a section of the state’s insurance code that allows certain auto insurers to file rates with the Texas Department of Insurance (TDI) without providing actuarial support...
Digital Auto Insurer Root Will Add Independent Agents to Its Distribution
Aug 20 2021 // Digital auto insurer Root saw its loss ratio spike in the 2021 second quarter as higher costs for repairs, used vehicles and miles driven rose above pre-pandemic levels. But the Ohio-based insurer continues to report...
Tech Giants Are ‘Too Big to Fail’ Because They Host Insurers, Banks on Cloud Platforms
Aug 20 2021 // More than a decade on from the financial crisis, regulators are spooked once again that some companies at the heart of the financial system are too big to fail. But they’re not banks. This time it’s the tech...
With Federal Legalization Expected, Cannabis Insurers Quietly Get Ready to Roll
Aug 20 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...
