Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Union Mutual Insurance Company Hires Lambert as VP of IT, Operations
Jan 6 2021 // The board of directors for Union Mutual Insurance Company voted at their December meeting to appoint Philip Lambert to be the company’s vice president of Information Technology and Operations. Lambert starts with the...
Commentary: Florida Adoption of Federal Judgment Standard a Win for Insurers
Jan 6 2021 // The way liability claims are litigated in Florida will dramatically change, possibly shifting the balance of power in pre-trial negotiations closer to favoring defendants and their insurance companies after the Florida...
COVID-19 Business Interruption Rulings, Most Favoring Insurers, Moving to Appeals
Jan 6 2021 // A wave of litigation over business-interruption losses caused by COVID-19 shutdown orders has started splashing into the appellate courts. Appeals of trial court decisions in at least 11 lawsuits have been filed so far,...
S. Africa Medical Insurers, Business Groups, Government to Fund Vaccines for Uninsured
Jan 5 2021 // South African medical-insurance companies, business organizations and the government are developing a program in which the private sector will help fund COVID-19 vaccines for people not covered by insurance. Legislation...
World’s Largest Insurers 2020: AM Best Ranks UnitedHealth, Allianz on Top
Jan 5 2021 // UnitedHealth Group Inc. takes the top spot in AM Best’s ranking of the world’s 25 largest insurance companies for a sixth straight year, with $189.7 billion in net premiums written (NPW) in 2019. In addition,...
Idaho Distracted Driving Law Kicks in, Insurers May Consider Citations in Rates
Jan 4 2021 // Starting Jan. 1, drivers violating Idaho’s hands-free device, distracted driving law risked getting a citation. The law has been in effect since July 1, but Idaho State Police troopers have been issuing warnings to...
South African Insurer Santam Accepts Liability for Some Rejected COVID-19 Claims
Jan 4 2021 // JOHANNESBURG – South African insurer Santam will begin assessing payouts for some previously rejected coronavirus-related claims after recent court judgments on such cases but still intends to challenge one finding...
Court Upholds Trump Rule Requiring Hospitals to Disclose Health Insurer Prices
Dec 30 2020 // A federal appeals court on Tuesday upheld a White House-backed rule to require hospitals to disclose the prices they negotiate with insurers for an array of common tests and procedures. The 2-0 decision by the U.S. Court...
UK Insurer Admiral Sells Price Comparison Unit to Zoopla in $685 Million Deal
Dec 29 2020 // UK home and car insurer Admiral Group Plc agreed to sell its price-comparison unit to the owner of property portal Zoopla in a transaction valued at 508 million pounds ($685 million). Admiral will get about 450 million...
Insurers Not Quitting on Cyber Even as Risks Mount
Dec 29 2020 // It could go down as one of the most significant cyber attacks yet. Russian hackers breached a number of U.S. government agencies and dozens of private businesses through a tainted update downloaded for network-monitoring...
Captive Re/Insurance MGU, International Re, Partners with Admitted Insurer Cimarron
Dec 23 2020 // International Re (I–RE), the specialist captive insurance and reinsurance managing general underwriter (MGU), is announcing a new strategic capacity partnership with Cimarron Insurance, a niche specialist admitted...
Social Inflation Lesson: Not Settling Cost Insurer Millions in Suit by Excess Insurer
Dec 23 2020 // The defense team for Chubb Group’s Ace American Insurance Co. was confident that no jury would award more than $2 million in a wrongful death lawsuit filed by the family of Mark Braswell, who died on May 16, 2014...
The Other New Normal: Wildfires from a Winery Insurer’s Perspective
Dec 21 2020 // Arriving on the scene after a wildfire has ravaged an area is never easy. One can only imagine what experiencing such devastation is like for the victims of these fires, who have lost homes, livelihoods and even loved...
Liquidation Sought for Texas Nonstandard Auto Insurer, ACCC
Dec 21 2020 // An application for an order of liquidation has been filed in a Travis County, Texas, district court for a Houston-based nonstandard auto insurer now in receivership. ACCC Insurance Co. was placed into receivership on Oct....
From Insurers to Landlords, Retailers to Restaurants, COVID Reshapes Economies
Dec 18 2020 // It would be just a temporary precaution. When the viral pandemic erupted in March, employees of the small digital insurance firm Thimble fled their Manhattan offices. CEO Jay Bregman planned to call them back soon — as...
S. African Insurer Guardrisk Will Not Challenge Court Ruling on COVID-19 Claims
Dec 18 2020 // JOHANNESBURG – South African insurer Guardrisk will not further challenge a court process that has found it liable to pay clients’ rejected coronavirus-related claims, it said late on Thursday. Guardrisk, the...
Solvency II Capital Rules for Insurers Need Changing: EU Watchdog
Dec 17 2020 // The European Union’s capital rules for insurers need changing to reflect low interest rates and provide stronger intervention powers like banning dividends to preserve solvency during market shocks, the bloc’s...
South Africa Court Dismisses Insurer Guardrisk’s Appeal in Coronavirus Claims Case
Dec 17 2020 // JOHANNESBURG – A South African court on Thursday dismissed insurer Guardrisk’s appeal against a previous ruling that found it was liable pay a Cape Town cafe’s rejected coronavirus claim. Like other insurers...
Cyber Insurers Scale Back as Ransomware Attacks Rise
Dec 17 2020 // Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even scale back on the cover they offer against cyber crimes, a report from a leading insurer...
Global Natural and Manmade Disasters Cost Insurers US$83B in 2020: Swiss Re
Dec 16 2020 // Insurance industry losses from natural catastrophes and man-made disasters across the globe amounted to US$83 billion in 2020, making it the fifth-costliest year for the industry since 1970, according to the Swiss Re...
