Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Delos and Lloyd’s Insurer to Expand Vacant Home Insurance in California
May 6 2024 // Delos Insurance Solutions plans to offer wildfire insurance to more California policyholders with vacant properties. Delos is expanding coverage availability through a partnership with certain underwriters at Lloyd’s...
Fitch: U.S. Cyber Insurers Saw Strong Profits, Slowdown in Premium Growth in 2023
May 6 2024 // The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings...
Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse
May 2 2024 // Chubb, which had insured Baltimore’s Francis Scott Key Bridge, is getting ready to pay $350 million to the state of Maryland, in what could be the first major payout tied to the collapsing of the bridge in March. The...
Lloyd’s Insurers Don’t Expect Large Claims From Baltimore Bridge Collapse
May 2 2024 // Lloyd’s of London insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore’s Francis Scott Key Bridge in March that caused widespread disruption, they said on...
Growing Wildfire Risk Leaves States Grappling With How to Keep Insurers From Fleeing
May 1 2024 // Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news—their property insurance won’t be renewed because their insurance company has deemed the risk...
Hack That Paralyzed US Health Care Turns Up Scrutiny on Insurer
Apr 30 2024 // When a cyberattack on Change Healthcare paralyzed much of the US health-care system, some lawmakers saw it as proof its parent company, UnitedHealth Group Inc., was too big. UnitedHealth Chief Executive Andrew Witty saw it...
The 6 Stages of Compliance Grief: How Top Insurance Carriers Are Revolutionizing Compliance Management with AgentSync
Apr 30 2024 // This post is part of a series sponsored by AgentSync. Does your organization have a compliance problem? It’s OK. We won’t tell anyone. If you’re not entirely sure, we’ve got a way to check your...
Fla. Regulators’ Effort to Remove Insurer Execs May Not Pass Constitutional Muster
Apr 30 2024 // Current and former leaders with Florida property insurers have had some strong reactions to state regulators’ recent efforts to oust company executives who previously helmed now-insolvent carriers. Some have called...
Key Insurer Says Russia Oil Price Cap Increasingly Unenforceable
Apr 30 2024 // A Group of Seven-imposed cap on the price of Russia oil is becoming increasingly unenforceable, an organization at the heart of the global insurance industry said, offering one of the most direct criticisms yet of measures...
UK Motor Premiums Start to Stabilize but Costs to Insurers Mount: ABI
Apr 29 2024 // Motor premiums increased by just 1% in the first quarter of 2024, indicating an easing of the price rises seen in 2023 when premiums rose by 25% from 2022, according to the Association of British Insurers. However,...
Insurers Get Green Light to Pay Less Than Billed Charges in Florida PIP Cases
Apr 29 2024 // The Florida Supreme Court has given auto insurers more flexibility in reducing payments for medical services under the state’s no-fault auto insurance law and may have finally put to rest years of questions about the...
Lockton Re: Hypothetical Cyber Event Offers Carriers an Opportunity to Review Risks
Apr 26 2024 // A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a report released by Lockton Re. The report, “A Kaleidoscope of Possibilities:...
EU Should Revisit Bank and Insurer Capital Rules: French President Macron
Apr 26 2024 // French President Emmanuel Macron called on Thursday for a revision of how Europe applies minimum capital rules to banks and insurers so that they are not too risk-averse and Europe is put at an economic disadvantage. The...
Thames Water Debt Insurer Taps Advisers as Crisis Deepens
Apr 26 2024 // A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar...
Russia Reinsurer Backs Domestic Carriers to Get Indian Marine Insurance Permits
Apr 26 2024 // Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to...
Global Insurers’ Climate Alliance Relaunches After Member Exodus
Apr 25 2024 // A global insurance coalition intended to help curb the sector’s greenhouse gas emissions has relaunched with a new name and weaker membership requirements in response to companies fleeing over allegations of...
Viewpoint: Insurers Face Added Role in Curbing Workplace Violence With California Law
Apr 25 2024 // New legislation aimed at reducing workplace violence in California vastly increases employers’ responsibilities and hands workers’ compensation insurers an unprecedented oversight role that is likely to trigger...
Why New York’s Attorney General Objects to Trump’s Bond Insurer
Apr 22 2024 // New York’s attorney general has urged the state judge overseeing the state’s civil fraud case against Donald Trump to reject the former president’s $175 million appeal bond. Attorney General Letitia James...
GeoVera Combining Carriers with SafePort to Create GeoVera Nova Holdings
Apr 22 2024 // GeoVera Insurance Holdings entered into a definitive agreement to sell its insurance carriers and managing general agent businesses. Upon completion of the deals, a newly formed entity, GeoVera Nova Holdings Inc., will...
Auto Insurer’s $10M Fraud Claims Against Doctors Are Subject to Arbitration, Court Rules
Apr 19 2024 // A federal appeals court has sided with three chiropractors in ruling that claims under New Jersey’s personal injury protection statute concerning insurance fraud are subject to arbitration. GEICO has lost its bid to...
