Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. Targets Ship Insurers, Maritime Industry to Strengthen Venezuela Sanctions
Jul 13 2020 // Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the...
South Africa Regulator Warns Insurers to Stop Broad Rejection of Virus Claims
Jul 10 2020 // A South African regulator warned insurers to stop broadly rejecting claims from businesses seeking to cover losses because of a lockdown to curb the coronavirus. “The Financial Sector Conduct Authority is concerned...
Insurers Are Creating Products for World Where Pandemics Could Become New Norm
Jul 10 2020 // Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis. While new pandemic-proof policies might not be cheap,...
Coronavirus Crisis Heightens Insurers’ Caution About Senior Care Market
Jul 10 2020 // The coronavirus pandemic has made it even harder for senior-care centers in the United States to find or afford standard liability insurance, with rates soaring by as much as 300%, insurance brokers said. Residential care...
Best: Reinsurance Pricing, Pandemic Add to Woes for Florida Property Insurers
Jul 9 2020 // The numerous issues in Florida’s property insurance market, including higher reinsurance pricing and social inflation, continue to challenge the financial strength of Florida personal property writers and impact...
Iowa’s BrokerTech Ventures Gains 4 New Carrier, Wholesale Partners
Jul 9 2020 // BrokerTech Ventures, an insurance broker-led platform and accelerator program based in Des Moines, Iowa, has added four super-regional and national insurance firms as partners: The Cincinnati Insurance Companies,...
Chubb Unveils Public-Private Program for Pandemic Business Interruption
Jul 9 2020 // Chubb unveiled a proposal for the insurance industry and federal government to partner on covering future pandemic-related business interruptions—and to get money to small businesses quickly—following through on an...
Biggest Uncertainty for UK Insurers Remains Around Business Interruption Claims: BoE
Jul 9 2020 // The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England said, as a court prepares to rule on whether existing policies cover big losses...
Coronavirus Business Interruption Claimants Lay Out Federal Plan to Reimburse Insurers
Jul 9 2020 // A U.S. lawmaker has introduced a bill that would allow insurers to voluntarily pay certain COVID-related business interruption claims and get reimbursed by the federal government, but insurance groups have rejected the...
Minnesota Issues Riot Claims Data Call to Property/Casualty Insurers
Jul 8 2020 // Minnesota’s insurance regulators issued a data call in late June, requesting information from property/casualty insurers in the state about claims filed in the wake of the riots/civil commotion following the killing...
Allstate to Buy National General for $4 Billion, Growing Auto, Independent Agent Business
Jul 8 2020 // U.S. Insurer Allstate Corp. said on Tuesday it will buy National General Holdings Corp. for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and...
What ‘Follow the Fortunes’ Means for COVID-19 Reinsurance Claims
Jul 8 2020 // How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already...
New Ventures Seize Opportunities as Insurers Cope with Coronavirus Losses
Jul 8 2020 // Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums – tempting companies and industry veterans to raise capital, launch new businesses or expand into new...
Losses From Civil Protests May Cause Insurers to Rethink Property Coverage
Jul 8 2020 // The civil disturbance that started in Minneapolis after the killing by police of George Floyd spread to 20 other states, leading to an unprecedented property insurance catastrophe. The experience will likely impact policy...
Insurance Fraud Investigators Ramp Up During Reopening, Even as Claims Volumes Drop
Jul 7 2020 // Fraud inevitably rises after natural disasters and during economic downturns. The COVID-19 pandemic has brought both conditions to the entire globe at once. Fraud-prevention advocates have long been warning about the...
Argo’s CFO to Depart as Insurer Updates Executive Leadership Team
Jul 7 2020 // Argo Group International Holdings Ltd., the Bermuda-based specialty re/insurer, announced an update to senior leadership team responsibilities and the launch of an outside search for a chief financial officer to succeed...
Health Insurer Centene to Develop $1B North Carolina Regional Hub, Create 3,200 Jobs
Jul 7 2020 // Government health insurance provider Centene Corp. said on Wednesday it will build an East Coast campus in Charlotte, North Carolina, developing a $1 billion construction project that’s expected to create more than...
COVID-19 Treatment Remdesivir to Cost Private Insurers $3,120
Jul 6 2020 // The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and...
2020 Super Regional P/C Insurers
Jul 6 2020 // Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of...
Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jul 6 2020 // The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
