Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
UK Regulator Pushes Insurers to Cut Premiums for Fire-Risk Apartments
Jul 19 2022 // Thousands of people living in high-rise apartments in Britain are set to get better deals on their property insurance following years of spiraling costs in the wake of the Grenfell Tower tragedy. The Financial Conduct...
ANZ Agrees to Buy Australian Insurer Suncorp’s Bank Operations for $3.3 Billion
Jul 18 2022 // Australia & New Zealand Banking Group Ltd. agreed to buy Suncorp Group Ltd.’s banking operations for A$4.9 billion ($3.3 billion) as it seeks to gain an edge over larger rivals by expanding in the country’s...
Malaysian Central Bank Sets 2023 Cutoff for Foreign Insurer Stake Sales: Sources
Jul 18 2022 // Malaysia’s central bank is giving foreign insurers until the end of 2023 to either reduce stakes in their local ventures or contribute to a charitable fund, people with knowledge of the matter said, more than a...
Insurance Company Surplus — A Tiny Primer
Jul 18 2022 // I find that almost all agents and a high proportion of insurance carrier employees possess inadequate knowledge of insurance carrier surplus. Also, many think the knowledge they possess is accurate, however, in my...
Green Building Investments Reach New Heights But Can Carrier Capacity Keep Up?
Jul 18 2022 // Increased interest in creating more energy efficient, resilient buildings is expected to fuel growth in the green construction industry, particularly as the government looks to spur investment in these projects through new...
California Insurer’s Efforts to Keep Workers and Help During Pandemic Led to Viable New Business
Jul 18 2022 // In the annals of how the pandemic changed things, toss in a positive tale from insurer CSAA Insurance Group. Walnut Creek, California-based CSAA, a AAA Insurer, offers automobile, homeowners and other personal lines of...
Despite Growing Pressures, Most Cyber Insurers Won’t Exit: Survey
Jul 15 2022 // The cyber insurance sector has been tested recently with growing ransomware attacks, rising premiums, and more sophisticated threat actors, but that isn’t necessarily scaring insurers away, according to a 2022 Cyber...
Nordic Insurer Finds Longer, More Expensive Trips More Popular Now Than Before COVID
Jul 14 2022 // Long-haul travel is back among Danes and even more popular than before the COVID-19 pandemic, as pent-up wanderlust increasingly drives them to venture outside Europe’s borders, Scandinavia’s largest insurer...
Louisiana Judge: State Can’t Order Insurers to Pay Ida Evacuation Expenses
Jul 13 2022 // A Louisiana judge ruled last week that the state’s insurance commissioner’s directive ordering insurers to pay policyholders’ Hurricane Ida evacuation expenses is invalid and unenforceable. Judge Patrick...
Insurance Company Poised to Drop Idaho County’s Coverage
Jul 13 2022 // An insurance company that covers counties and other public entities in Idaho says it won’t renew Canyon County’s insurance policy because of increasing risks and a high volume of claims. The Idaho Counties Risk...
Specialty Insurer Mosaic Opens for Business in Canada With Fraser at Helm
Jul 13 2022 // Mosaic Insurance is opening an office in Toronto, Ontario and has hired Ian Fraser to spearhead the company’s expansion into the Canadian specialty insurance market. Fraser joins as president of Mosaic Insurance...
Nebraska Court: Ambiguous Policy Language Requires Insurer to Pay for Renovations
Jul 12 2022 // An ambiguous “extra expense” provision in a commercial property insurance policy requires the insurer to pay for new equipment that a grocery store and delicatessen needed for a new location after its former...
Digital Insurer Ranger Raises $5.25M With Assist From A-Rod for Agent Platform
Jul 11 2022 // Digital insurer Ranger said it just closed a $5.25 million seed round to further its development of a digital platform that promises to modernize the role of insurance agents, evolving their role into a home protection...
Insurers Wrangle Over Amber Heard Defamation Costs
Jul 11 2022 // A little over a month after a jury found that actress Amber Heard had defamed ex-husband Johnny Depp, one insurer of Heard is asking a court to rule it has no obligation to indemnify her. New York Marine and General...
China Regulator Says Banks, Insurers to Go ‘All Out’ to Bolster Lending
Jul 11 2022 // An official at China’s banking and insurance regulator said authorities will use policy tools “flexibly and precisely” at proper times to stabilize the economy, while banks and insurers will “go all...
North Carolina Appeals Court Overturns COVID Coverage Ruling Against Insurer
Jul 7 2022 // A North Carolina appellate court has overturned a rare win by businesses seeking to compel insurance coverage for their COVID-19 shutdown losses. In North State Deli et al vs. The Cincinnati Insurance Co., a three-judge...
Markets/Coverages: Lloyd’s Insurer Probitas Starts Underwriting Cyber
Jul 7 2022 // Probitas 1492, the Lloyd’s insurer, has started underwriting cyber insurance with Richard Taylor, head of Cyber & Technology, focusing the book of business on complex small-and-medium-sized enterprises (SME), up...
Insurer’s Good Deed Restarts the Clock on Benefits, Carolina Appeals Court Finds
Jul 5 2022 // Insurers might say this one falls in the category of “no good deed goes unpunished.” In a workers’ compensation decision published July 5, the North Carolina Court of Appeals held that the re-issuance of...
Stricken Bulk Carrier Remains Stranded Near Sydney as Rescue Efforts Fail for 21 Crew
Jul 5 2022 // Twenty-one crew members remain aboard a bulk carrier which lost power in turbulent waters near Sydney, after overnight rescue attempts failed. The MV Portland Bay, which has been without power since early Monday, has been...
5th Circuit Allows Insurer to Recoup Payment for Damage to Docking Facility
Jul 4 2022 // A doctrine that prevents parties from seeking reimbursement for intangible economic losses caused by maritime negligence doesn’t prevent an insurer from recouping $1.7 million it paid to a policyholder for damage to...
