Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Connecticut Sees Growth in Captive Insurers for Fourth Straight Year
Jan 18 2024 // Commissioner Andrew Mais of the Connecticut Insurance Department announced a 37% increase in the state’s captive insurance sector in 2023. According to Mais, this growth includes the addition of 10 new captive...
People Moves: Nunnally Joins Alliant in Boston; Hilb Names Harm to Carrier Relations; Arthur Hall Promotes Marshall
Jan 18 2024 // Chris Nunnally joined Alliant Insurance Services as senior vice president within its employee benefits group. Nunnally is based in Boston, Massachusetts. Before working with Alliant, Nunnally was area vice president within...
Insurer Blocked From Rescinding Policy After Fire Claim Due to ‘Extra’ Apartment
Jan 18 2024 // New York City housing is often jammed into tight spaces. Old houses are carved into several apartments. Not all of them are legal. Alexi Home Design’s property in the Bronx had two official residences on the main...
New York Proposes Guidance Governing Insurers’ Use of AI
Jan 17 2024 // New York State is proposing guidance for insurance carriers to prevent unfair discrimination in their use of artificial intelligence and external data sources in underwriting and pricing. A circular letter from...
Insurers Seek to Exclude US, UK Ships From Red Sea Coverage
Jan 17 2024 // Some ship insurers are starting to avoid covering US and UK merchant ships against war risks when they navigate the southern Red Sea, another sign of blowback since the two nations’ airstrikes on Yemen last...
Survey: Carrier Connectivity Top of Mind for Agents
Jan 16 2024 // Agents continue to favor carriers and MGAs that offer automation, ranking ease of doing business and time savings at the top of the list of value they get from connectivity, according to a newly released survey by...
Bank of England May Tighten Up Life Insurers’ Use of Offshore Reinsurance
Jan 12 2024 // The Bank of England may tighten supervision of life insurers’ use of the “funded reinsurance” market, typically alternative asset managers who make riskier investments, as corporate pension providers...
Activist Group Scorecard: Insurers Adopting Policies on Oil and Gas Slowed in 2023
Jan 12 2024 // The number of insurers adopting policies on oil and gas has slowed, according to climate activist organization Insure Our Future’s seventh annual “Scorecard on Insurance, Fossil Fuels and the Climate...
Behind the Negative Image: The True Role of Insurance Companies
Jan 11 2024 // The insurance industry faces an image challenge. Plaintiff attorney highway billboards and websites routinely disparage insurance companies as fat, greedy and collusive. One plaintiff law firm website declares that...
Title Insurer Fidelity National Says 1.3 Million Customers Affected by Cyberattack
Jan 11 2024 // Title insurer Fidelity National Financial (FNF) said about 1.3 million customers have been impacted by a cyberattack it suffered last November. According to a filing with the U.S. Securities and Exchange Commission, FNF...
China Orders Banks, Insurers to Review Cyber and Data Security
Jan 11 2024 // China’s financial regulator told its banks and insurers to thoroughly review cyber and data security across all their businesses, underscoring the government’s increased focus on national security and data...
More P/C Carriers With Less Surplus: Aon Ward Analysis
Jan 11 2024 // As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a mid-December...
Shares in UK Insurers Tumble on Report of Regulator Comments on Premium Finance
Jan 10 2024 // Shares in UK insurers fell on Wednesday, with traders pointing to an article in the Insurance Post that quoted the Financial Conduct Authority’s Head of Insurance Matt Brewis as saying premium finance was a...
Mutual Insurance Company of Arizona Declares $15M Dividend
Jan 8 2024 // The board of Mutual Insurance Company of Arizona declared a dividend for its policyholders totaling $15 million. The funds are to be allocated among current members, with plans for it tol be distributed in February...
Merck Settles Coverage Dispute With Insurers Over War Exclusion in NotPetya Attack
Jan 5 2024 // Merck & Co. Inc. has reportedly reached a deal with insurers over a closely-watched coverage dispute related to a massive cyberattack in 2017. The New Jersey Supreme Court in July 2023 agreed to hear the case after a...
AM Best: Japan Quake’s Effect on Insurers ‘Manageable; KCC Says Losses to Hit $6.4B
Jan 5 2024 // The earnings impact on the major domestic non-life insurers of claims from the Jan. 1, 2024 earthquake in Japan is expected to be manageable relative to the sector’s net profit, according to AM Best in a market...
Insurer AIG Leads Policy for Japan Airlines Plane Involved in Runway Collision: Sources
Jan 3 2024 // U.S. insurer AIG was the lead insurer on a $130 million “all-risks” policy for the Japan Airlines airplane which collided with another plane at Tokyo’s Haneda airport, two insurance industry sources said...
P/C Insurers Responsible for Nearly 7,000 Layoffs in 2023
Jan 3 2024 // U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, cutting at least 6,800 jobs,...
McKinsey to Pay $78 Million to Settle Opioid Claims by Insurers
Jan 3 2024 // McKinsey & Co. is poised to pay $78 million to health insurers and company benefit plans, in its latest settlement of lawsuits over its role advising opioid makers in their sales of the painkillers. The proposed...
Extreme Weather in Germany Costs Insurers US$5.4 Billion in 2023: GDV
Dec 29 2023 // Extreme weather in Germany again caused high insurance claims this year, with an estimated price tag of €4.9 billion (US$5.4 billion) during 2023, according to the German Insurance Association (GDV). This extreme weather...
