Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
North Carolina Insurers File for 18.7% Increase on Dwelling Policies
Dec 16 2020 // The North Carolina Rate Bureau, which represents all companies writing property insurance in the state, is seeking an 18.7% statewide average increase in dwelling policies. The North Carolina Department of Insurance said...
Top Performing Auto Insurers During COVID and What’s Driving Customer Behavior
Dec 16 2020 // Spurred by a combination of financial hardship, a decrease in miles driven and a general lack of awareness of the historic relief efforts the industry initiated in 2020, auto insurance customer loyalty has given way to a...
Georgia Nonstandard Auto Insurer to Assume Business of Troubled Texas Carrier, ACCC
Dec 15 2020 // A portion of the personal auto insurance business of a Texas insurance company that appeared to be headed for liquidation at the end of November is being assumed by a Georgia-based insurer. Embark General, headquartered in...
Judge OKs Plan for Settling Hurricane Damage Lawsuits Against Insurers in Louisiana
Dec 15 2020 // A federal judge in western Louisiana has approved a plan on how to settle thousands of lawsuits expected to be filed against insurance companies over damage from a pair of hurricanes that hit the region six weeks...
Canada Regulator to Allow Insurers, Banks to Pay Some Special Dividends
Dec 15 2020 // TORONTO – Canada’s financial regulator said on Monday it could allow institutions to pay special non-recurring dividends under “exceptional circumstances,” even as it maintains a March moratorium on...
Insurers, Regulators Warn About Safety of Jets Reactivated After Pandemic Storage
Dec 15 2020 // SYDNEY – Regulators, insurers and experts are warning airlines to take extra care when reactivating planes left in extended storage during the COVID-19 pandemic, citing potential pilot rustiness, maintenance errors and...
UK Insurer LV= to Sell Savings, Retirement Businesses to Bain Capital for $707M
Dec 15 2020 // LONDON — Mutual insurer Liverpool Victoria Financial Services (LV=) has agreed to sell its savings & retirement and protection businesses to funds advised by private equity firm Bain Capital Credit LP for 530...
Vermont’s Union Mutual Insurance Company Promotes Pryce to VP of Claims
Dec 14 2020 // The board of directors for Union Mutual Insurance Company voted at their December meeting to promote Jeff Pryce to the role of vice president of claims. The promotion is effective January 1, 2021. Pryce is based in the...
AM Best Upgrades Credit Ratings of Members of Concord Group Insurance Companies
Dec 14 2020 // AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” from “a+” for the members of Concord...
UK Insurer Aviva to Sell Vietnamese Business to Canada’s ManuLife
Dec 14 2020 // British insurer Aviva PLC is selling its Vietnamese business to Canadian insurer ManuLife Financial Corp, it said on Monday, as it pushes ahead with plans to pull out from its non-core markets. Aviva, under new boss Amanda...
Insurers Ink $90 Billion in Merger Deals as They Pursue Post-Coronavirus Clout
Dec 10 2020 // Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides. The takeover of RSA Insurance Group Plc and Allstate Corp.’s largest acquisition...
Texas Windstorm Insurer to File for 5% Residential, Commercial Rate Hike
Dec 8 2020 // The board of directors of Texas’ insurer of last resort for wind and hail for properties along the Texas coast has directed its staff to file a rate increase of 5% for both residential and commercial policies with...
EU Tells London Banks, Insurers to Get Used to Limited Access
Dec 8 2020 // Britain’s huge financial sector will never again have the same access to the European Union as it did when the country was a member of the bloc, the EU’s financial services chief said. Brexit makes it...
UK Insurer Aviva Appoints AIG’s Winslow as CEO of International
Dec 7 2020 // Aviva announced the appointment of Adam Winslow as CEO of International. This is a new role at Aviva and Winslow will join the group executive committee, reporting to Amanda Blanc. Winslow will join Aviva in January and...
30 Major League Baseball Teams Sue insurers Over Lost Revenue Due to Coronavirus
Dec 7 2020 // Major League Baseball and all 30 of its teams are suing their insurance providers, citing billions of dollars in losses during the 2020 season played almost entirely without fans due to the coronavirus pandemic. The suit,...
Many Californians Being Left Without Homeowners Insurance Due to Wildfire Risk
Dec 4 2020 // Acquiring home insurance has long been a mundane but necessary chore. In California, for hundreds of thousands of residents, it’s turned into a labyrinthine quest that leaves people with expensive, bare-bones...
Germany Extends $37B Backstop for Credit Insurers to Keep Pandemic Trade Flowing
Dec 4 2020 // Germany agreed to extend a backstop for commercial credit insurers by six months to keep trade flowing and prevent bankruptcies as the economy is hit by a second wave of the coronavirus pandemic. Under the deal, which...
Environmentalists Say U.S. Insurers Lag Behind Peers on Fossil Fuels
Dec 3 2020 // U.S. insurance companies lag behind their global peers by enabling the fossil fuel industry, according to a report from an environmentalist group out this week. The Insure Our Future campaign released its fourth annual...
Texas Warns Agents, Brokers Insurers Against Deceptive, Misleading Health Plan Marketing
Dec 3 2020 // The Texas Department of Insurance (TDI) has issued a reminder to insurance companies, agents, and marketers of discount healthcare programs that materially misrepresenting the terms and conditions of an insurance policy or...
Travelers to Acquire Plymouth Rock’s Digital Agency InsuraMatch
Dec 3 2020 // The Travelers Companies has agreed to acquire InsuraMatch, a national digital independent insurance agency, from the Plymouth Rock Group of Companies. The transaction is expected to close in the first quarter of 2021 after...
