Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Senate Approves Amended Insurer Accountability Act, Removes Some Reporting
Apr 28 2023 // The Florida Senate has unanimously approved an amended version of the Insurer Accountability Act, removing some reporting requirements for property insurers. The amended bill would continue to bar insurers from altering...
Rising Oil Prices Complicate Russian Price Cap Checks for Insurers
Apr 28 2023 // Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes. Since December, buyers of Russian crude oil have only been allowed to...
Ship Insurers Warn of Russian Oil Price Cap Evasion, Risks of Growing ‘Dark Fleet’
Apr 27 2023 // A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track the...
Iowa Agent Charged With Defrauding Elderly Individuals and Insurance Companies
Apr 24 2023 // A federal grand jury in Des Moines, Iowa returned an indictment on April 19, 2023, charging a Clive man with seventeen counts of mail and wire fraud, one count of conspiracy to commit mail and wire fraud, and two counts of...
W.R. Berkley CEO Says Insurer Isn’t Going to Chase D&O Market ‘Down the Drain’
Apr 24 2023 // W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.” During a call with analysts to discuss first quarter earnings,...
ePayPolicy announces Finance Connect, integrating premium financing with online checkout for insurance companies
Apr 24 2023 // AUSTIN, Texas. April 24, 2023 – Today ePayPolicy announced the addition of Finance Connect to their suite of insurance payments and reconciliation products for insurance companies. Finance Connect enables insurance...
World Insurance Company Pensionmark Acquiring Xponential in California
Apr 21 2023 // Pensionmark acquired Xponential Growth Solutions in San Diego, California. Terms of the deal were not disclosed. XGS is a retirement benefits consultant. Pensionmark is a World Insurance Associates LLC company. Pensionmark...
Japanese Banks (and Insurers) Face Spotlight for ‘Gender Washing’ Women Managers
Apr 19 2023 // Some Japanese banks may soon come under the spotlight for potential “gender washing” over the way they count the number of women in management positions. Japan’s Financial Services Agency found a big...
Only 3 Insurers Sign Up for Florida Re Plan and Hopes for a New Plan Are Fading Fast
Apr 19 2023 // After five years of tweaks to Florida’s insurance and tort laws, all designed to reduce the vast amount of claims litigation and – eventually – bring down property rates, many in the industry argue that...
Texas Court: Exxon Covered by Contractor’s Excess Insurers
Apr 18 2023 // Two excess insurers may be liable for the more than $20 million that ExxonMobil Corp. paid to settle lawsuits filed by a contractor’s employees who were badly burned while working at an Exxon refinery, the Texas...
Japanese Insurer’s Plan to Sell Foreign Debt Flashes Market Warning
Apr 18 2023 // A Japanese insurer with $65 billion of assets plans to offload all its currency-hedged foreign debt holdings, foreshadowing what may become a renewed wave of selling by some of the biggest investors in global bond...
Florida Insurers Facing a New 1% Assessment on Premiums for Insolvent Insurer Claims
Apr 18 2023 // Florida property insurers are preparing for another assessment on premiums to help the Florida Insurance Guaranty Association fund outstanding claims from an insolvent insurer. The 1% emergency assessment on all premium...
Breaking it Down: What Florida Insurers Need to Know about Bad Faith After Tort Reform
Apr 18 2023 // Bad-faith litigation is a hot topic in Florida following the passage of the new tort-reform measure known as House Bill 837. However, even in the face of reasonable legislative changes, it remains important for insurers...
Insurers Balk at Coverage for Firm Accused of Delivering Damaging Biofuel to Customers
Apr 17 2023 // Two Crum & Forster subsidiaries have asked a federal court in Massachusetts to declare that they have no duty to provide coverage to an insured heating oil company over its delivery of oil diluted with high quantities...
Can Insurance Carriers Stem the Bleeding from Tech Layoffs?
Apr 17 2023 // This post is part of a series sponsored by AgentSync. In January 2023 alone, Amazon laid off 18,000 people; Google laid off 12,000 people; Microsoft laid off 10,000 people; and Salesforce laid off 7,000 people. And these...
D&O 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Apr 17 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Are Commercial Property Insurance Companies Dinosaurs?
Apr 17 2023 // The vast majority of commercial property, i.e., assets, are no longer physical. The majority of commercial assets are intangible. In fact, the overwhelming majority of assets owned by insurance agencies are intangible....
Federal Law Preempts Stolen Cargo Claim by Insurer Against Florida Transport Broker
Apr 14 2023 // Landstar Ranger, a transportation broker based in Jacksonville, sent a truck driver who called himself “James” to pick up cargo in Colorado for delivery to Maryland. A dispatcher authorized the pickup even...
Florida Commercial Insurer Capacity Insurance Now in Runoff, OIR Order Says
Apr 14 2023 // Less than a year after it announced it would stop writing new business in Florida, commercial carrier Capacity Insurance has been placed under administrative supervision and is now in an orderly runoff. The Florida Office...
HCI Launching New Florida HO Insurer After Go-Ahead From Regulators
Apr 13 2023 // Florida regulators have given a green light to a new homeowners insurance company, the first since state lawmakers took steps in December to rein in costly claims litigation. Tailrow Insurance Co., part of HCI Group, was...
