Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Appeals Court Upholds $12M Verdict in Fatal Keys Crash; Insurer Facing Bad-Faith Claim
Oct 27 2023 // A federal appeals court this week upheld a $12 million jury award against a gravel and waste-hauling company in a horrific highway accident that killed four Spanish women who were on vacation in the Florida Keys in...
AgentSync Raises $50M in Funding to Drive Operational Efficiencies For Insurers and Distributors
Oct 26 2023 // AgentSync doubles down on building the most modern and connected producer management and compliance solutions to provide flexibility in distribution channels for carriers, agencies, and MGAs DENVER, CO, October 26, 2023...
Kentucky Clarifies Matching Law While Florida Insurers Get Limits on Replacement
Oct 24 2023 // Matching requirements for roofs and interior furnishings have been a tough issue in the property insurance industry for years. Recent developments show how insurers and regulators in different Southeast states are managing...
Badger Mutual Insurance Company Downgraded by AM Best
Oct 23 2023 // AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b+” (Marginal) from “bbb-” (Good) of Badger Mutual...
Oklahoma Captive Program Reports 25% Net Gain of Captive Insurers in 2023
Oct 20 2023 // The Oklahoma Insurance Department’s Captive Insurance Division reported a 25% net gain in captive insurers for 2023. As of September 30, the state has licensed 11 new captive insurers for the year. There are 55...
Aviation War Insurers Cancel Cover for Airlines Domiciled in Israel, Lebanon: Sources
Oct 19 2023 // Aviation war insurers have given notice to cancel cover for some airlines domiciled in Israel and Lebanon because of the conflict in the region, with some cancellations already taking effect, three industry sources with...
Artificial Intelligence Startup Helps Insurers Spot Cognitive Decline in Older Drivers
Oct 17 2023 // Mind Foundry Ltd., an artificial intelligence startup vying to help insurers decide which drivers should be covered, has raised $22 million in funding, the latest sign of growing demand to deploy AI in critical sectors...
Filing a Day Late Leaves Insurer Short Under Mississippi’s Statute of Limitations
Oct 17 2023 // The Mississippi Supreme Court has ruled that an insurer misunderstood when a three-year statute of limitations begins in dismissing the insurer’s claims relating to a fire on an insured’s property. The high...
Independent Agents Are Shopping Premiums Despite Record High Carrier Satisfaction
Oct 16 2023 // Independent insurance agents report unprecedented satisfaction with their carrier partners, but that doesn’t mean they aren’t keeping their options open due to the rising cost of premiums. According to the J.D....
Insurers Prioritizing Profit Over Growth: Exec Survey
Oct 13 2023 // Nearly half of 400 insurance executives responding to a recent survey said their current priorities center on improving profitability rather than growing their businesses. Forty-eight percent of participants reported they...
Buffett Watchers Tout Japan Insurers, Banks as Next Potential Value Targets
Oct 13 2023 // Warren Buffett’s buying of Japanese trading firms helped propel the nation’s stocks to multi-decade highs. Six months on, insurers and banks are emerging as the next potential value targets. Insurers have low...
Despite Lower Premium Volume, U.S. Title Insurers Continue to Post Solid Results
Oct 12 2023 // The U.S. title insurance industry saw its volume of net premium written decline by 16.1% in 2022, to approximately $20.9 billion, following a decade of growth during which this level had more than doubled, according to a...
When Florida Insurers Go Bust, it Means Changes in North Carolina Insurance Law
Oct 12 2023 // Insurance department omnibus bills in state legislatures are often seen as housekeeping or budget items that may revise regulatory language, fund insurance department positions or clean up the wording of previous laws. But...
SambaSafety’s Leading Integrations Coincide with 1/3 of Commercial Carriers Planning UBI Moves
Oct 11 2023 // Denver, CO., October 11, 2023 – The National Alliance for Insurance Education and Research has partnered with SambaSafety, a leading provider of cloud-based risk management solutions, to release their first annual...
Less Red Ink in Florida, 2 New Insurers, and Citizens Wants Commercial Take-outs
Oct 11 2023 // Florida-based insurers still aren’t profitable, overall, but their net losses and underwriting losses are getting smaller. Two more property insurance companies are preparing to enter the Florida market. And the...
Hacked Philippine Health Insurer Didn’t Have Cyber Protection Software
Oct 10 2023 // The Philippines’ state health insurer didn’t have cyber protection software when hackers attacked its computers, giving criminals access to the data of millions of its citizens and triggering calls for an...
Are Florida Workers’ Comp Rates Getting Too Low? Roofers, Insurer Urge Freeze
Oct 6 2023 // Workers’ compensation rates have shrunk to such a low level in Florida, at least for some classifications, that they are causing problems and could be masking issues that will lead to higher premiums in coming years,...
Illinois’ Dover Bay Specialty Insurance Company Downgraded by AM Best
Oct 6 2023 // AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a” (Excellent) of Dover Bay...
Bankruptcy Judge Denies Survivors’ ‘Hopeless’ Bid to Sue Rockville Diocese Insurers
Oct 5 2023 // The judge overseeing the Catholic Diocese of Rockville Centre bankruptcy has denied a request by the committee representing sexual abuse claimants for permission to sue the church’s insurers, calling the filing a...
EV Industry Offers Challenges, Opportunities for Insurers
Oct 5 2023 // A new paper by the American Property Casualty Insurance Association (APCIA) finds that the insurance industry is responding to the needs of the transportation sector as the momentum for electric vehicles (EVs), plug-in...
