Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Michigan State Sues Insurers Over Nassar Victims’ Sex Assault Claims Coverage
Aug 6 2018 // Michigan State University has filed suit against 13 insurance carriers over coverage of sexual assault claims by victims of now-imprisoned former sports doctor Larry Nassar. The lawsuit against the insurers was filed July...
South Dakota Moves to Liquidate Surety Insurer ReliaMax
Aug 6 2018 // ReliaMax Surety Co. has been placed into liquidation by the South Dakota Division of Insurance. The South Dakota DOI petitioned the Hughes County Circuit Court on June 12, 2018, to place ReliaMax into liquidation due to...
Carr Fire Losses May Reach $1.5B in Likely Another Destructive Season for California
Aug 2 2018 // California’s Carr wildfire has the potential to yield losses of up to $1.5 billion, according to a Moody’s report issued on Thursday. The fire has ravaged parts of Shasta County in or near Redding in the...
CNA Hardy’s EU Subsidiary Granted Insurer License in Luxembourg
Aug 2 2018 // CNA Hardy, the specialist commercial insurer writing business within the Lloyd’s and company markets, announced that its new European subsidiary has successfully been granted an insurance company license by...
Insurer RSA Reports 15% Drop in H1 Operating Profit on Winter Weather Claims
Aug 2 2018 // Icy roads and frozen pipes due to bad weather in Canada and Britain hit insurer RSA’s first-half operating profit on Thursday, though results were in line with analyst forecasts. General insurer RSA, best known in...
California Commissioner Asks Insurers to Help Speed Wildfire Recovery Efforts
Aug 1 2018 // California Insurance Commissioner Dave Jones announced on Wednesday he is taking actions he says will help protect thousands of wildfire survivors. His first action is a notice requesting insurers to expedite claims...
TWIA Board OKs Additional $106.8M Insurer Assessment for Harvey Losses
Aug 1 2018 // The Texas Windstorm Insurance Association (TWIA) board has unanimously approved an additional Class 1 member assessment of $106.8 million for Hurricane Harvey losses, the Insurance Council of Texas (ICT) reported. The...
Insurers Being Asked About Asbestos-Talcum Exposure After J&J $4.6 Billion Verdict
Aug 1 2018 // Wall Street is trying to figure out whether the U.S. insurance industry will bear any costs from a record $4.69 billion judgment against Johnson & Johnson awarded to customers and their families who claimed that...
Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources
Jul 31 2018 // Lloyd’s of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU,...
Hong Kong Insurer FWD Group Eyes Singapore Listing
Jul 31 2018 // Hong Kong billionaire Richard Li’s FWD Group is considering listing in Singapore with a dual-class structure, as the insurer moves ahead with its initial public offering preparations, people with knowledge of the...
Insurer Settles Suit Over Toddler Death in Hot Oregon Apartment for $100K
Jul 30 2018 // An insurance company for a Portland apartment complex has agreed to pay $100,000 to settle a lawsuit filed by the mother of a 2-year-old girl who died in her bedroom after a heater malfunctioned. In a lawsuit that had...
Michigan State Sues Insurers Over Nassar Claims Coverage; Stops Victim Payments
Jul 30 2018 // Michigan State University has filed suit against 13 insurance carriers over coverage of sexual assault claims by victims of now-imprisoned former sports doctor Larry Nassar. The lawsuit against the insurers was filed July...
French Insurer CNP Declines to Comment About Merger Speculation
Jul 30 2018 // French insurer CNP, which has been the subject of merger speculation, reiterated its annual earnings growth targets as it posted higher interim net profits. CNP’s first-half net profits rose 2.3 percent to 672...
Security First Insurance Co. Enters Florida’s Growing Private Flood Market
Jul 30 2018 // A new carrier has entered the Florida flood insurance market with a policy it says will provide better coverage than what is available from the National Flood Insurance Program. Ormond Beach, Fla.-based Security First...
Texas Seeks Input on Draft of Revisions to Catastrophe Data Call Standards
Jul 27 2018 // Texas insurance regulators have responded to insurer requests for revisions to its standards for catastrophe data calls and is seeking input on the proposed changes. The Texas Department of Insurance said following...
Markel’s New German Insurer Rated ‘A’ by A.M. Best
Jul 27 2018 // Markel Corp. announced that its newly licensed German insurance company, Markel Insurance SE (MISE), has been given an “A” financial strength rating by A.M. Best. MISE has been established to meet the insurance...
Nigerian Regulator Triples Insurers’ Minimum Capital Requirement
Jul 27 2018 // Nigeria increased the minimum capital requirement for insurers by threefold, in a bid to expand their capacity to handle risk in Africa’s biggest oil producer. The National Insurance Commission requires the new...
XL Catlin to Build On-Demand Cyber Insurance Product With Slice Labs
Jul 26 2018 // Slice Labs Inc., a U.S. company offering cloud-based on-demand insurance, has partnered with XL Catlin to offer an on-demand cyber insurance product for U.S. small and medium-sized business (SMBs) built on the Slice...
South Dakota Moves to Liquidate Surety Insurer ReliaMax
Jul 26 2018 // ReliaMax Surety Co. has been placed into liquidation by the South Dakota Division of Insurance. The South Dakota DOI petitioned the Hughes County Circuit Court on June 12, 2018, to place ReliaMax into liquidation due to...
Pennsylvania Warns Consumers, Insurers About Rising National Auto Theft Rates
Jul 26 2018 // Pennsylvania Insurance Commissioner Jessica Altman has reminded drivers to take precautions to prevent auto theft, as a recent report shows the rate of car theft nationally rising by more than four percent in the first...
