Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Reinsurance Demand Rises, Along with Flight to Quality, Say Industry Experts
Sep 28 2020 // Not only has reinsurance buying increased, but there also has been a flight to quality reinsurers by ceding insurance companies, according to several reinsurers and brokers in recent webinars held in lieu of what would...
D&O Insurers Under Pressure But Big Enough to Handle Pandemic Claims, Says Fitch
Sep 28 2020 // As claims related to the economic fallout from the pandemic emerge in the U.S. directors & officers (D&O) liability insurance segment, insurers can expect the claims to take several years to pay out and...
Lloyd’s CEO Neal Sees Appeal of COVID Business Insurance Ruling Coming
Sep 25 2020 // Lloyd’s of London Chief Executive John Neal said on Thursday he expected a London judgment, which ordered some insurers to compensate struggling businesses for losses during the COVID-19 pandemic, to be...
New York, California Could be Fastest Growing States for Renewables
Sep 24 2020 // U.S. environmental policies will drive long-term demand for renewable energy, Moody’s Investors Service said in a new report. The report depicts a “a credit positive for renewable energy developers” in...
Texas Windstorm Insurer Seeks More Data on Rate Adequacy, Hurricane Modeling
Sep 24 2020 // The Texas Windstorm Insurance Association’s actuarial and underwriting committee is seeking more data from TWIA staff and an actuarial consulting firm on rate adequacy and catastrophe modeling for potential hurricane...
Mutual Insurer Group NAMIC Names Merchants Mutual’s Zak as Chair
Sep 24 2020 // The National Association of Mutual Insurance Companies welcomed its new chairman – Robert Zak, president and chief executive officer of Merchants Mutual Insurance Co. – this week during its all-virtual 125th annual...
EasySend Raises $16M to Enable Insurance Companies and Financial Institutions to Build a No-Code Digital Future
Sep 24 2020 // The investment will empower insurance companies, banks, and other financial institutions to build and optimize digital journeys with an AI-powered no-code platform Tel Aviv, Israel – September 24, 2020 – EasySend, the...
Insurers May Cut Allocations to Poorly Performing Hedge Fund Investment Sector
Sep 24 2020 // Having complained for years about hedge funds’ high fees and lackluster performance, insurance firms may be preparing to cut allocations to the sector after its poor performance during recent market upheaval left...
Bank of England Warns Private Insurers Need Government to Help Narrow Protection Gap
Sep 23 2020 // The Bank of England has encouraged the government to work with UK insurers in preparation for future major shocks, rather than leave swathes of the economy exposed to catastrophic losses. The danger of a “protection...
2 Reasons COVID-19 Legislation is the Wrong Solution
Sep 23 2020 // Back in March and April, I gave two webinars on COVID-19 for the Academy of Insurance. If you haven’t had a chance to take those, click here to get the Academy of Insurance COVID-19 related classes. One of the topics...
MMG Insurance Company Hires McPherson as Senior Vice President of Operations
Sep 23 2020 // MMG Insurance Company has hired David McPherson as senior vice president of operations, effective September 1, 2020. McPherson will work closely with Matt McHatten, current executive vice president and chief operating...
Citing U.S. Sanctions, Insurers Won’t Cover Ships For Russia, Turkey Pipelines Projects
Sep 23 2020 // The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Associations belonging to...
Insurer Impact from Sally Expected to be Moderate; Losses Estimated at $1B to $3B
Sep 23 2020 // Insured losses from Hurricane Sally could reach as much as $3 billion, according to catastrophe modelers, but ratings agency Moody’s expects a moderate impact on property & casualty insurers and...
Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change
Sep 23 2020 // Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe...
New York Calls on Insurers to Address Climate-Related Financial Risks
Sep 22 2020 // New York State Department of Financial Services (DFS) Superintendent Linda Lacewell today implemented several new initiatives to address climate-related financial risks, calling on insurers to begin integrating these...
P/C Mutual Insurers Improved Underwriting in 2019; Top 10 Hold 72% of Market: AM Best
Sep 22 2020 // Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting performance in 2019 and managed to...
UK Seeks to Reform How Motor, Home Insurers Treat Loyal Customers
Sep 22 2020 // The Financial Conduct Authority has set its sights on revamping the UK motor and home insurance marketplace to help customers, especially loyal policyholders, save money. The FCA is proposing reforms of these markets that...
Banks, Insurers Await ‘Brexit Dividend’ of ‘British-Style’ Regulation
Sep 22 2020 // Britain will adopt tough but less bureaucratic financial rules after Brexit, starting with simpler regulation of small banks, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain will soon unveil new...
5th Circuit Reasserts Bad Faith Not Necessary to Win Interest Penalty Against Texas Insurers
Sep 22 2020 // A Houston plaintiff’s attorney defeated State Farm Lloyd’s for the fourth time on the same issue, this time coming away with a federal appellate court ruling that policyholders don’t have to prove that...
FCA to Insurer CEOs: Don’t Delay in Paying Valid COVID Business Interruption Claims
Sep 21 2020 // In a follow-up to the High Court’s ruling on coronavirus-related business interruption claims by businesses, the UK’s Financial Conduct Authority (FCA) is advising insurers that they must pay all valid claims...
