Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers, Agents Spared in New Jersey Shooting Claims
Jan 5 2023 // A federal judge in New Jersey has ruled that a New Jersey property owner is not entitled to insurance coverage for a shooting because it never disclosed it owned the banquet hall where the shooting took place on its two...
Update: Demotech Drops Frontline But Insurer Gets BBB+ from KBRA
Jan 4 2023 // Frontline Insurance Group, parent to two significant property insurers in Florida, has had its financial rating stability withdrawn by the Demotech rating firm. Frontline corporate leaders were not available to talk about...
Michigan Governor Signs Insurance Company Group Capital Calculation Bill Package
Jan 3 2023 // Michigan Gov. Gretchen Whitmer signed a bipartisan bill package into law last month to update Michigan’s holding company statute to ensure compliance with national accreditation standards. The package will provide...
New Georgia Laws: Mental Health Reporting by Insurers, Permitting for Food Trucks
Jan 3 2023 // Parts of a law overhauling insurance coverage for mental health, new ways for parents to challenge materials used in schools and a tax credit for donating to police are among new laws taking effect Sunday in Georgia. Most...
Japan Insurers to Maintain Cover for LNG Vessels in Russian Waters
Dec 30 2022 // Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for liquefied natural gas (LNG) vessels, industry...
Ship Insurers’ Exodus From Russia-Ukraine Risks Gathers Momentum
Dec 29 2022 // A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a further sign of the industry’s growing concerns about losses stemming from the conflict. At...
Insurer Finds Connecticut Public Buildings Free From Foundation Problems of Homes
Dec 28 2022 // A review of concrete foundations of public buildings in northeastern Connecticut, including schools and fire stations, has found no widespread deterioration problems like what’s plagued hundreds of residential...
Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit
Dec 28 2022 // Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew...
Japan Urges Its Insurers to Retain Marine War Cover for LNG Shippers in Russian Waters
Dec 27 2022 // The Japanese government has asked insurers to take on additional risks to continue providing marine war insurance for liquefied natural gas (LNG) shippers in Russian waters, a senior official at the industry ministry...
Title Insurer Stewart Agrees to $2.5M ‘No-Poaching’ Settlement With New York
Dec 23 2022 // New York Attorney General Letitia James announced a settlement with one of the largest title insurance underwriters, Stewart Title Guaranty Corp., ending non-competitive no-poach agreements between Stewart and its...
ACORD Study Highlights Drivers of High Performance Among Top U.S. Insurers
Dec 22 2022 // ACORD recently conducted the U.S. Value Creators Study focused on the 100 largest property/casualty insurance groups in the U.S., representing nearly 90% of premiums written and almost 100% of the industry’s market...
UK Insurers, Banks Hope for Substantive Financial Services Reforms in 2023
Dec 22 2022 // After a jarring six months marked by sweeping policy promises, U-turns and four Chancellors of the Exchequer, UK financiers head into 2023 uncertain that the coming year will finally usher in substantive reforms to the...
Insurance Rates to Stay Flat for Shipments of Ukraine Grain: Lloyd’s Insurer Ascot
Dec 22 2022 // A cargo insurance facility providing cover for shipments via Ukraine’s grain export corridor will continue next year with no rate increases, an underwriter with Lloyd’s of London insurer Ascot said on...
Investigators Probe Failure of Italy’s Vega C Rocket; Satellite Insurers Expect Profit Hit
Dec 22 2022 // An investigation is being launched after the latest version of Italy’s Vega C rocket failed on its second mission, destroying two Earth-imaging satellites and further complicating Europe’s access to space on...
Insurers May Refuse to Cover Planes, Ships Exposed to Ukraine Conflict: Sources
Dec 19 2022 // Insurers may refuse to cover planes flying to Ukraine or ships sailing through the Black Sea as reinsurers – who insure the insurers – propose excluding the region from policies from next month, four industry...
Maryland High Court Joins Others in Backing Insurer in Covid-19 Claims Denial
Dec 19 2022 // The Maryland Supreme Court has backed an insurer in rejecting a luxury brand company’s claim that its all-risk commercial property insurance policy should cover its Covid-19 business losses. The ruling is in accord...
Insurers Denying Coverage to FTX-Linked Crypto Firms as Contagion Risk Mounts
Dec 19 2022 // Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange FTX, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft or lawsuits, several market...
West Virginia Puts All DMV Transactions Online, Speeding Process for Motorists, Insurers
Dec 16 2022 // West Virginia plans to speed up the process for motorists doing vehicle registrations and other transactions with the state. Gov. Justice Jim Justice said Wednesday that the Division of Motor Vehicles will expand its...
Independent Adjusters Charge Florida Insurers With Doctoring Damage Estimates
Dec 14 2022 // Do some Florida property insurance companies hire independent adjusters to inspect property claims, then routinely alter their inspection reports to reduce estimated losses? Yes, and it’s a widespread and fraudulent...
UK Non-Bank Institutions (Such as Insurers) Face 1st Stress Test After Pensions Turmoil
Dec 13 2022 // Investment funds and other non-bank financial institutions face their first “stress test” next year to apply lessons from the near-meltdown in Britain’s pension fund sector, the Bank of England (BoE) said...
