Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
More Insurer Partnerships, Tech Investments, Divestitures to Come in 2021, Says Bain
Feb 23 2021 // Insurers in 2021 will be doubling down on streamlining, reinforcing their core businesses and updating technology, and mergers and acquisitions will help them get there as it did in 2020, according to a Bain & Co....
Lloyd’s Insurer Brit to Stop Insuring Australia’s Adani Coal Mine
Feb 23 2021 // Major Lloyd’s of London insurer Brit will not insure Adani Enterprises’ Carmichael thermal coal mine, it said on Tuesday, adding to a growing list of Lloyd’s insurers who have made similar...
Fight Brewing over Insurer-Backed California Bill That Includes Autobody Shops
Feb 22 2021 // An insurance industry-backed California bill to create a new regulatory board for towing and storage companies under the California Department of Consumer Affairs has drawn opposition from the auto body industry. Assembly...
About 1,000 EU Finance Firms, Such as Insurers, Eye Post-Brexit Outposts in UK
Feb 22 2021 // Around 1,000 European Union finance firms are expected to open their first offices in the UK after losing their passporting rights because of Brexit. Roughly two-thirds of the 1,500 money managers, payment firms and...
Insurer Wins Covid-19 Business Interruption Case Filed by New Orleans Restaurant
Feb 22 2021 // A New Orleans judge has denied a motion for declaratory judgment that insurance coverage is owed to a restaurant for business income that was lost when it was required to close its dining room because of the COVID-19...
Insurers Seek to Question Abuse Claimants, Lawyers in Boy Scouts Bankruptcy
Feb 22 2021 // The judge presiding over the Boys Scout of America bankruptcy is weighing a request by insurance companies for permission to serve document requests on 1,400 people who have filed sexual abuse claims and to question scores...
P/C Insurers’ Net Income for 9 Months Fell 27% on Impact of Catastrophes
Feb 22 2021 // In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the...
Viewpoint: Biometric Information Privacy Statutes Could Be a Minefield for Insurers
Feb 19 2021 // In recent years, there has been a dramatic increase in private entity use of biometric-dependent technology to assist with employee timekeeping, financial transactions and security. In turn, privacy concerns regarding...
UK to Set Up Green Finance Hubs to Encourage Banks, Insurers to Invest in Renewables
Feb 19 2021 // The UK will set up green finance hubs in Leeds and London as part of efforts to encourage lenders and insurers to invest in renewable energy and sustainable agriculture. The two cities will host the new UK Centre for...
Insurers Expect ‘Hundreds of Thousands’ of Claims from Texas Storm
Feb 19 2021 // U.S. property insurers are bracing for claims for damage from collapsing roofs, bursting pipes and lost business as Texas takes stock of its losses from a winter storm that has crippled its electrical grid. Insurers’...
New York Court Finds Insurer Not Responsible for Theater’s COVID-19 Losses
Feb 17 2021 // The Supreme Court of the state of New York, Nassau County, has dismissed a movie theater’s claims that its insurer is responsible for covering its COVID-19 related losses and that its insurance brokers were negligent...
IVANS Survey Finds Agencies and Insurers Seek Greater Connectivity
Feb 17 2021 // Both agents and insurers express strong support for agent-insurer connectivity and digital collaboration in distribution and servicing. On agency demand for connectivity, 71% of agencies rank the availability of digital...
Progressive to Buy Transportation Insurer Protective for $338 Million
Feb 16 2021 // The Progressive Corp. is acquiring Indiana-based trucking industry insurer Protective Insurance Corp. in a move that will increase its stake in the commercial lines insurance market. Progressive has agreed to pay $23.30...
Insurors of Tennessee Promotes Layman, Smith
Feb 16 2021 // Insurors of Tennessee has promoted Jim Layman to general counsel and appointed Daniel Smith as chief operating officer. The two will continue in their efforts to help grow the association – which represents independent...
Irish Regulator Presses Insurers to Pay COVID-19 Claims Following Court Ruling
Feb 12 2021 // Ireland’s central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action by the...
Finnish Insurer Sampo Books Q4 Loss on Banking Group Stake
Feb 12 2021 // Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro ($1.09 billion) impairment charge due to a revaluation of its shares in banking group Nordea. The unexpected...
Bond Insurer MBIA Agrees to Settle Mortgage Claims Against Credit Suisse
Feb 12 2021 // New York-based municipal bond insurer MBIA Inc.’s unit MBIA Insurance Corp. entered an agreement to settle a litigation it filed in 2009 against lender Credit Suisse and certain affiliated entities over property debt...
UK Insurers Not Likely to See Cuts in Capital Requirements After Brexit: Bank of England
Feb 10 2021 // The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill...
AI Startup that Uses AI and Partners with Re/insurers, Now Is Seeking Canadian IPO
Feb 10 2021 // Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its finances and repay...
Insurers Overwhelmed by Demand for D&O Coverage for Blank Check Companies
Feb 10 2021 // The SPAC boom is overwhelming a key player in the creation of a blank-check companies: insurers. Firms selling directors-and-officers liability policies for special purpose acquisition companies have been flooded by the...
