Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. Targets Sanction-Evading Shipping Firms, Enlists Help from Insurers, Banks
Nov 6 2019 // The United States will target shipping companies that are in breach of sanctions and aggressively enforce measures across the globe to clamp down on such practices, a top U.S. official said on Wednesday. In one of the...
Boosting Resilience to U.S. Wildfires Should Be Insurance Industry Priority: I.I.I.
Nov 6 2019 // Nearly a year after the deadliest and costliest wildfire in U.S. history, insurers and the customers they cover are revisiting how to reduce their collective exposure to this risk, according to the Insurance Information...
Allianz Pays $1B for Part of Goldman’s Stake in China Insurer Taikang: Sources
Nov 6 2019 // German insurer Allianz SE has paid about $1 billion for part of Goldman Sachs Inc.’s stake in closely held Chinese insurer Taikang Life Insurance Co., according to people with knowledge of the matter. Goldman sold a...
Argo Group CEO Watson Steps Down as SEC Continues Its Probe of Insurer
Nov 6 2019 // Argo Group International Holdings Ltd. announced the retirement of Mark E. Watson III as chief executive officer, effective immediately. Kevin J. Rehnberg has been named interim chief executive officer, subject to Bermuda...
Court Orders California Insurance Company Conserved in Another Round in Applied Battle
Nov 5 2019 // Note: This story has been updated with a response from an Applied spokesman describing the actions by the California Department of Insurance as “an unusual Draconian attempt.” A San Mateo County Superior Court...
EU Rules for Responsible Investing to Be Set for Insurers, Asset Managers in 2021
Nov 5 2019 // European Union finance ministers are set to adopt new rules this week that will require asset managers, insurers and pension funds to disclose environmental and social risks in their investments from 2021. The overhaul is...
Maryland Business Owner Convicted for Defrauding Insurer of More Than $15M
Nov 4 2019 // A Maryland business owner has been convicted after a trial on federal charges for conspiring to burn down his business in order to obtain insurance proceeds. A federal jury convicted Demetrios ‘Jimmy’...
Missouri Court Rulings Conflict with Insurer Right to Intervene Protections
Nov 4 2019 // The Western District of the Missouri Court of Appeals recently issued opinions that effectively strip any practical effect from a Missouri amendment made to provide certain protections to insurers. In Aguilar v. GEICO Cas....
Agency E&O: Risk Rises Along with Rates, Cats and Customer Switching
Nov 4 2019 // Agency errors and omissions (E&O) coverage is likely the most important insurance policy an agency purchases. As customer demands rise to an all-time high, having the right E&O coverage and ensuring best practices...
‘Competition & Change’ in Commercial Auto, Workers’ Comp
Nov 4 2019 // Progressive has a competitive edge over long-term players in the commercial auto insurance market and national carriers outpace regionals on workers’ compensation profit measures, according to a new report from Guy...
Resolving Claim Disputes: Step 3 Research and Document the Interpretation – Part 3 of 3
Nov 4 2019 // In the past two columns, we examined eight legal and contractual principles nonlawyers can use to resolve most claim disputes without litigation. In this month’s column, we’ll wrap up this discussion with nine...
Insurer Group: Dallas Tornado Outbreak Costliest in Texas History
Nov 4 2019 // The nine confirmed tornadoes that hit the Dallas, Texas-area late on Sunday, Oct. 20 have caused an estimated $2 billion in damage, an insurer trade group says, making it the costliest tornado loss in Texas history. The...
Washington Insurance Commissioner Issued Numerous Fines, Disciplinary Actions
Nov 1 2019 // Washington Insurance Commissioner Mike Kreidler took disciplinary action in July, August and September against insurance companies, agents and brokers for violating state insurance regulations. A summary of cases of...
Higher Limits of Liability for 2020 Disapproved for Texas Windstorm Insurer
Nov 1 2019 // In mid-October, Texas Insurance Commissioner Kent Sullivan denied a request by the Texas Windstorm Insurance Association (TWIA) to raise its maximum liability limits for new and renewal policies with an effective date of...
A.M. Best Says Insurers Challenged by ‘New Normal’ of California Wildfires
Oct 31 2019 // While the number of burned acres in 2019 is still well below the number reported last year through October, experts predict the greatest fire potential will occur from now through December as the Santa Ana winds pick up,...
States Eye Private Flood Insurance Model Law Industry Thinks Is Unnecessary
Oct 31 2019 // An organization of state lawmakers is moving ahead toward adoption of a “model law” designed to encourage the sale of private flood insurance, even though insurers don’t think any new state laws are...
Groups, Officials Pen Letter to 3 Large California Insurers Asking Them to Ditch Fossil Fuels
Oct 31 2019 // Several dozen activist groups, businesses and elected representatives released a letter on Thursday to the CEOs of Liberty Mutual, AIG and Farmers calling on the three biggest fire insurers in California to stop fueling...
Swiss Re and Pioneer to Offer Telematics Solution for Insurers in 2020
Oct 31 2019 // Swiss Re and Tokyo-based car electronics company Pioneer Corp. have co-developed a telematics solution that provides insurers with more personalized risk assessment, thereby supporting safer driving behavior. The...
NI Holdings Agrees to Purchase Maryland’s Westminster American Insurance Company
Oct 31 2019 // NI Holdings Inc. has signed a definitive agreement to purchase 100 percent of the issued and outstanding stock of Westminster American Insurance Company from private shareholders. Westminster American is headquartered in...
Womack Named Vice Chair, Morrison Secretary-Treasurer at Texas Windstorm Insurer
Oct 30 2019 // The board of directors of the Texas Windstorm Insurance Association (TWIA) have elected two individuals to fill the recently vacated executive positions of vice chair and secretary-treasurer. TWIA public representative...
