Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Texas Windstorm Insurer Plans for $4B in Funding for Hurricane Season
Mar 24 2021 // Texas’ wind and hail insurer of last resort for properties in the state’s coastal counties has determined it needs $4.03 billion in funding to prepare for this year’s hurricane season. The board of...
Steinhoff International’s Insurers Agree to Pay $93 Million for Directors’ Liability Claims
Mar 23 2021 // Most of the insurers that provided Steinhoff International Holdings NV with director-liability policies have agreed to pay as much as 78.1 million euros ($93 million) toward legal settlements resulting from a 2017...
Insurer Tokio Marine Expects No Material Impact on 2021 Results from Greensill Collapse
Mar 23 2021 // TOKYO – Japanese insurer Tokio Marine Holdings Inc said on Tuesday it currently expects no material impact on its results for the fiscal year starting next month as a result of its exposure to the fallout of Greensill...
The Inflation Specter Looms for Property/Casualty Insurers
Mar 23 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
North Carolina Insurers Request Increases on Mobile Home Policy Rates
Mar 23 2021 // The North Carolina Rate Bureau has filed a request with the North Carolina Department of Insurance to increase insurance rates for mobile home policies. The NCRB, which represents insurance companies and is not a part of...
Colorado Workers’ Comp Carrier Distributing Dividends to 53K Companies
Mar 22 2021 // Pinnacol Assurance in Colorado is distributing general dividend checks to its customers totaling $50 million This is the sixth straight year the workers’ compensation carrier has distributed dividends. Nearly 53,000...
Lloyd’s Insurer AEGIS London Moves to New Office
Mar 22 2021 // Top quartile Lloyd’s Syndicate 1225, managed by AEGIS Managing Agency Ltd. (AEGIS London), is moving to a new office to accommodate its growing number of employees. The office, which will open fully once COVID...
India Increases Limit on Foreign Direct Investment in Insurance Companies
Mar 22 2021 // India on Monday further opened up its insurance sector to foreigners, as the nation seeks to spur investments to give a fillip to an economy battered by the pandemic. Lawmakers approved a legislation increasing the limit...
Pennsylvania’s Bedivere Insurance Company to Be Liquidated
Mar 22 2021 // The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company, recognizing that the company’s financial liabilities have exceeded its...
P/C Insurers Improved Profitability in Year of Coronavirus: AM Best
Mar 22 2021 // Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the...
Pandemic Losses for P/C Insurers Will Take Years to Determine: Fitch
Mar 22 2021 // Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the year. Still, the amount of ultimate losses remains unclear and will take several...
Insurers Bail As Boat Business Booms
Mar 22 2021 // The year was a good one for boat manufacturers. With heightened interest in outdoor recreation activities and ways to social distance, consumer demand for new boats skyrocketed. According to the National...
The Inflation Specter Looms for Property/Casualty Insurers
Mar 22 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
Rejecting ‘Absurd’ Argument, 5th Circuit Says Insurer Must Pay for Harvey Damage
Mar 22 2021 // While Hurricane Harvey dumped 60 inches of rain on the Houston area in August 2017, the authority that operates the Lake Conroe Dam opened the floodgates to release water at a rate almost equal to the flow over Niagara...
Trinity Healthshare to Stop Operating in Iowa After ‘Unauthorized Insurer’ Charges
Mar 19 2021 // Trinity Healthshare Inc. (now known as Sharity Ministries Inc.) has agreed cease operating in Iowa on June 30, 2021, the state insurance division reported. The Iowa Insurance Division says Trinity has agreed to cease...
Florida Insurers Sustain ‘A’ Ratings, For Now, As 2020 Industry Losses Top $1.5B
Mar 17 2021 // Ratings agency Demotech has affirmed the ‘A’ ratings of the Florida homeowners carriers it rates, which account for approximately 66% of the state’s market, after review of 2020 year-end and projected Q1...
New York Regulator to Collect, Publish Insurer Diversity Data to Promote Transparency
Mar 16 2021 // The New York State Department of Financial Services (DFS) is calling on its regulated insurers to prioritize diversity of leadership and says it will begin collecting and publishing diversity data from insurers this year...
5th Circuit Rejects ‘Legal Gotcha’; Says Insurer Must Pay for Harvey Damage
Mar 15 2021 // While Hurricane Harvey dumped 60 inches of rain on the Houston area in August 2017, the authority that operates the Lake Conroe Dam opened the floodgates to release water at a rate almost equal to the flow over Niagara...
Carrier Can’t Subrogate Against Students Who Caused Dartmouth Dormitory Fire
Mar 12 2021 // An insurer that paid $4.5 million to Dartmouth College to restore a dormitory that was damaged by fire can’t seek recovery from two students whose negligence started the blaze, the New Hampshire Supreme Court...
P/C Insurers Improved Profitability in Year of Coronavirus: AM Best
Mar 12 2021 // Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the...
