Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Contractor Hits a Wall as Insurer Denies Rectification Coverage Claim
Oct 25 2022 // A Maryland general contractor has spent almost $10.5 million to fix an improperly installed concrete wall system in a school it was hired to build and wants its insurer to reimburse it under a rectification expense...
Few Insurers Offer Input on Future of the Federal Home Loan Bank System
Oct 24 2022 // Very few insurance companies showed up this month to talk about the future of the much-debated, 90-year-old Federal Home Loan Bank System, despite the fact that the system lends heavily to many large insurers at low...
Insurers Still Unclear How G-7 Sanctions on Russian Crude Oil Cargoes Will Work
Oct 24 2022 // Just six weeks before European Union sanctions on Russian oil come into effect, insurers are still unclear as to exactly how they will work. At the heart of the uncertainty is a continued lack of detail surrounding US-led...
Climate Change at Top of Insurers’ Concerns, Followed by War-Related Risks
Oct 24 2022 // Climate change remains at the top of insurance companies’ biggest concerns even as Russia’s invasion of Ukraine stokes geopolitical and energy-related fears within the industry. Global warming is considered as...
All The Latest Insurance Company Estimates: Hurricane Ian Losses
Oct 21 2022 // Just a few days into earnings season for the third quarter, a number of carriers have published loss estimates for insurance claims from Hurricane Ian, or prewarned investors about loss figures that will dent their bottom...
Taiwan’s Watchdog Says Insurers Have Enough Capital to Withstand COVID Claim Surge
Oct 21 2022 // Taiwan’s insurance industry has buffered itself against surging COVID claims after raising capital, the head of the island’s market regulator said. The property insurance companies have no problems fulfilling...
Global Natural Disasters Cost Insurers $99B in Q3, With Economic Losses of $227B: Aon
Oct 21 2022 // Global natural disaster events to the end of Q3 2022 caused total economic losses estimated minimally at $227 billion – of which $99 billion was covered by public and private insurers, which means that insured losses...
Insurers Increasingly Withdraw From Fossil Fuel Projects: Climate Activists’ Report
Oct 20 2022 // Insurance companies that have long said they’ll cover anything, at the right price, are increasingly ruling out fossil fuel projects because of climate change – to cheers from environmental campaigners. More than a...
Australia’s No. 1 Health Insurer Confirms Massive Data Breach, Theft of Patient Details
Oct 20 2022 // Australia’s biggest health insurer said on Thursday a criminal had apparently stolen customers’ medical information as part of a massive breach of data, fueling concern about a wave of high-profile cyber...
Australian Insurer Medibank Says Hackers Claim to Have Stolen Customer Data
Oct 19 2022 // Australia’s Medibank Private Ltd. said on Wednesday an unnamed hacker group had contacted it negotiate about customer data it claimed to have retrieved from the health insurer’s IT systems. The news comes six...
AXA to Acquire Spanish P/C Insurer GACM España for €310M
Oct 18 2022 // AXA announced that AXA Spain has entered into exclusive negotiations to acquire Groupe Assurances du Crédit Mutuel España (GACM España), a Spanish property/casualty and health insurer. Under the terms of the...
U.S. Treasury Proposes Climate Data Collection Rule for P/C Insurers
Oct 18 2022 // U.S. Treasury on Tuesday said it was proposing a new rule to collect data on climate-related risks from property and casualty insurers, one of the first concrete actions in a new push to beef up financial regulation to...
Insurers Win Key Parts of Stonegate COVID-19 Business Interruption Case: MS Amlin
Oct 17 2022 // Insurers have won key parts of a complex legal battle with British pubs group Stonegate, MS Amlin said after Monday’s judgment on the 1 billion pound ($1.13 billion) lawsuit against three top insurers over losses...
How Insurance Carriers Can Survive Hard CAT Property Markets
Oct 17 2022 // There’s no denying it — challenging times are coming for CAT property markets. Truthfully, they’re already here. As I type this article, Hurricane Ian (category 4) is hours away from a direct hit on...
Learning to Time Travel: Why Insurers Should Embrace Both the Future and the Past
Oct 17 2022 // The first insurance company in the U.S., The Friendly Society, was established in Charleston, South Carolina, in 1735, according to the Insurance Information Institute’s insurance handbook, meaning the industry is...
Oldest Black-Owned Insurance Company Goes Quietly into Liquidation
Oct 14 2022 // After more than 120 years, the oldest black-owned insurance company in the United States has all but come to an end, and will soon be liquidated. North Carolina Mutual Life Insurance Co., which began in 1898 and whose...
Australian Health Insurer Medibank Reports Cyber Incident
Oct 13 2022 // Australian health insurer Medibank Private said on Thursday it will isolate and remove access to some customer-facing systems as it detected unusual activity on its network. The company said it took “immediate steps...
Top U.S. Homeowners Insurers Minimally Exposed to Losses from Ian: Moody’s
Oct 12 2022 // A report from Moody’s Investors Service clearly paints Ian as a loss event for Florida-only home insurers since large, national insurers have significantly reduced exposure in the Sunshine State throughout the...
AM Best: Trouble Around the Bend for Commercial Auto Insurers After Good 2021?
Oct 12 2022 // For the first time in many years the commercial auto insurance segment enjoyed a combined ratio below 100 in 2021, but increased claim frequency and severity in 2022 point to a U-turn in financial results. According to AM...
Learning to Time Travel: Why Insurers Should Embrace Both the Future and the Past
Oct 12 2022 // Powered by InsuranceJournal.tv The first insurance company in the U.S., The Friendly Society, was established in Charleston, South Carolina, in 1735, according to the Insurance Information Institute’s insurance...
