Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Texas Windstorm Insurer Lays Out Funding Plan for 2020 Hurricane Season
Jun 1 2020 // The board of directors of Texas’ property insurer of last resort for wind and hail in the state’s coastal counties in February set a goal of $4.2 billion in catastrophe funding for 2020. At a meeting of the...
When Insurers Deny Claims, Brokers Are Next in Line for Allegations of Wrongdoing
Jun 1 2020 // In the wake of government orders shutting down or seriously limiting the operations of businesses to deal with the COVID-19 outbreak, many affected businesses have turned to their insurers for coverage. This has led to a...
Stress Testing Shows Most Insurers to Withstand Pandemic Hit
Jun 1 2020 // Analysts at the AM Best ratings firm say their initial stress tests of insurance companies globally to gauge the preliminary impact from the COVID-19 pandemic on their financial strength found good news: “most...
Insurer Group Has Issue with Colorado Insurance Department’s COVID-19 Memo
May 29 2020 // The American Property Casualty Insurance Association is taking issue with tentative plans by the Colorado Department of Insurance to halt the use of credit information in Colorado during the pandemic. A recent draft...
Texas Windstorm Insurer Outlines Funding for 2020 Hurricane Season
May 29 2020 // The board of directors of Texas’ property insurer of last resort for wind and hail in the state’s coastal counties in February set a goal of $4.2 billion in catastrophe funding for 2020. At a meeting of the...
California Lawmakers Move Toward Risk-Based Rates
May 28 2020 // As the Soviet Union ultimately learned the hard way, price controls are a guaranteed way to prolong shortages. It has taken a few years, but there are promising signs California lawmakers may finally be ready to learn the...
Australia’s 4 Summer Natural Disasters Cost Insurers More Than US$3.44 Billion
May 28 2020 // The cost of insurance claims from four natural catastrophes during Australia’s 2019-2020 summer has passed A$5.19 billion (US$3.44 billion), said the Insurance Council of Australia (ICA). Thousands of new claims and...
Massachusetts Division of Insurance Urges Carrier Flexibility with Vacancy Provisions
May 28 2020 // The Massachusetts Division of Insurance has notified all property and casualty insurance carriers in the state that they are expected to take steps to preserve insurance coverage for businesses ordered to shut down due to...
Workers’ Compensation Insurtech Pie Raises $127 Million With Plan to Acquire Carriers
May 28 2020 // Workers’ compensation provider Pie Insurance announced the closing of $127 million in new financing and capital commitments. Gallatin Point Capital joined the insurtech’s current investors in the capital raise,...
Insurtech Trov Partners with LatAm Insurer Sura to Bring On-Demand Insurance to Brazil
May 28 2020 // Trov, the San Francisco-based insurtech company, is partnering with Latin American insurer Seguros Sura to bring on-demand insurance products to the Brazilian market. Recent regulatory changes in Brazil have enabled...
Viewpoint: What’s Fair When It Comes to Paying Insurance Claims?
May 28 2020 // The ongoing COVID-19 pandemic has tragically resulted in the deaths of 100,000 Americans, changed our day-to-day lives, hampered our economy, and forced us to reexamine how we live. As the country moves to reopening, after...
Texas Windstorm Insurer Files Replacement Cost Policy Form Revisions
May 27 2020 // The Texas Windstorm Insurance Association has filed the following revised endorsements with the Texas Department of Insurance for approval: Revised Endorsement No. 164 – Replacement Cost Coverage – Coverage A...
Lawmaker Details Federal Reinsurance for Pandemic Business Interruption, Event Losses
May 27 2020 // New York Congresswoman Carolyn Maloney has introduced the Pandemic Risk Insurance Act of 2020, a federal backstop for pandemic-related business interruption insurance modeled after the Terrorism Risk Insurance...
I’m From the Government and I’m Here to Help – Part 4
May 27 2020 // This is the conclusion of my series of posts about the different bills that states have put forward to force insurance companies to provide business income coverage for losses related to COVID-19. Insurers look for other...
Openly, Premium Home Insurance Company, Rapidly Expanding into New States
May 27 2020 // Boston, MA, MAY 27, 2020— Openly Insurance, a tech-forward company that specializes in premium homeowners insurance and is backed by powerhouse investors such as Gradient Ventures, Google’s AI investment fund, is...
Judge: Ohio Hospital, Insurer Need Not Fund Doc’s Murder Case Defense
May 22 2020 // A Michigan-based health system and its insurer don’t have to cover the costs of an Ohio doctor’s defense against murder charges in the deaths of 25 hospital patients, a federal judge ruled. William Husel is...
Texas Insurer Germania Extending Auto Premium Paybacks Through June
May 22 2020 // Texas-based farm mutual insurance company, Germania Insurance, is extending its Reduced Driving Payback through June, raising its total reimbursement to policyholders to nearly $9 million in credits. Germania announced its...
Texas Agency Sleeper Sewell Insurance Joins Insurors Group
May 22 2020 // Dallas-based independent insurance agency, Sleeper Sewell Insurance, has joined Insurors Group LLC, an alliance of independent insurance agents in Texas. Sleeper Sewell Insurance was originally founded as Dwight Sleeper...
French Court Orders AXA to Pay Restaurant’s COVID-19 Business Interruption Losses; AXA Vows to Appeal
May 22 2020 // A Paris court ruled that insurer AXA must pay a restaurant owner two months’ worth of coronavirus-related revenue losses, the restaurateur’s lawyer said on Friday, potentially opening the door to a wave of...
Not All Homes in Wildfire Zones Are Uninsurable. Here’s How Insurers Can Tell.
May 22 2020 // Fire-risk scores now used by insurance underwriters can sometimes can make it challenging for homeowners to find coverage. Zesty.ai, a California insurtech start-up, is among a handful of firms working to fine-tune...
