Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer Can’t Object to Asbestos Makers’ Bankruptcy, Despite Fraud Concerns
Feb 17 2023 // A liability insurer has no standing to object to its insured’s bankruptcy plan, even if the carrier feels that the plan unfairly exposes it to potentially fraudulent claims, a federal appeals court decided this week...
Insurers, Leasing Firms Push European Commission for Access to Valuable Vehicle Data
Feb 17 2023 // A broad coalition of insurers, leasing companies, car repair shops and others are calling on the European Commission to propose rules for fair access to valuable vehicle data soon, fearing further delays could see the...
Insurers See California EV Sales Trends Driving Rate Filing Approval Urgency
Feb 16 2023 // Vehicle pricing was a major concern during the inflationary environment that dominated headlines in 2022, however a new report shows sales of electric vehicles in California rose by more than 50% last year from 2021 with...
Insurer Faces Class Action for Depreciating Labor in Actual Cash Value Payments
Feb 16 2023 // Two Trumbull Insurance customers who believe they were short-changed on claims payments have filed a proposed class action suit against the insurer, alleging Trumbull has been incorrectly calculating some property claim...
Turkey Earthquakes to Cost Insurers $2.4 Billion: Karen Clark & Co.
Feb 16 2023 // Catastrophe modeling firm Karen Clark & Co. (KCC) said on Thursday it expects insured losses of $2.4 billion from the devastating dual Kahramanmaras earthquakes that hit Turkey earlier this month. The number of people...
Earthquakes in Turkey to Cost Insurers More Than $1 Billion, Verisk Estimates
Feb 14 2023 // Economic losses for the Feb. 6, 2023 earthquakes in Turkey will likely exceed US$20 billion, while insured losses will likely be more than US$1 billion, according to Extreme Event Solutions at Verisk (formerly AIR...
Viewpoint: Used-Vehicle Prices May Be Cresting but Insurers Still Underwater
Feb 13 2023 // “It was the best of times, it was the worst of times” would be an apt description of the last few years for auto insurers. Immediately after a nationwide, months-long driving hiatus caused collisions to plummet...
Louisiana Opens Insurer Application Period for Incentive Program
Feb 10 2023 // Louisiana Insurance Commissioner Jim Donelon announced that the 30-day application period for insurance companies to apply for Insure Louisiana Incentive Program funding is now open. Insurance companies that are interested...
Insurers’ Files, Adjuster Notes Not Always Discoverable, Says Florida Appeals Court
Feb 10 2023 // Insurance companies in Florida may have to disclose their financial relationships with expert witnesses, but they don’t have to turn over their entire claims files and field adjusters’ notes, at least in some...
Insurers View New Car Sales Rise in California as More Evidence for Rate Filings
Feb 9 2023 // New figures show car sales in California continue to slowly return to pre-pandemic levels, which the state’s auto insurers believe is another indication the state’s insurance regulator needs to approve more...
‘Citizens’ Web Site Not Affiliated with Florida Insurer, Takes Users to Auto Quote Site
Feb 8 2023 // Investigators with Citizens Property Insurance Corp. are looking into a website that looks a lot like Florida’s largest property insurance carrier but may actually be fraudulent. “These sites typically ask for...
Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal
Feb 8 2023 // Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately $1.1 billion. As part of the...
Samsung Chip Plant Sues Insurer Over $400 Million in Storm Damage Claims
Feb 8 2023 // A Samsung Electronics Co. semiconductor plant in Texas sued its insurer over $400 million in damage claims tied to a power blackout during a deadly winter storm in 2021. The federal lawsuit filed Monday against Factory...
Ruff Ruling for Nationwide: Ohio Court Says Insurer Must Cover Canine Bite
Feb 8 2023 // An Ohio Court of Appeals panel said that Nationwide must indemnify a canine owner whose bulldog bit a passer-by, ruling that a policy exclusion barring coverage for bodily injury for a dog with a prior history of attacking...
24 Models Sue 3 Insurers to Collect on $2M Deals With Strip Clubs Over Use of Photos
Feb 7 2023 // A group of 24 models is suing three insurers to collect more than $2 million in settlements stemming from the unauthorized use of their images by several strip clubs in the Northeast. The models, including Tara Leigh...
Louisiana Lawmakers Approve $45M in Funding to Draw Insurers to State
Feb 6 2023 // BATON ROUGE, La. (AP) – A $45 million funding bill to address soaring homeowner insurance rates in hurricane-battered Louisiana was overwhelmingly approved by Louisiana lawmakers Friday and sent to Gov. John Bel Edwards...
Florida Adjusters Say No Response From State Officials After They Alleged that Insurers Have Doctored Their Damage Reports
Feb 6 2023 // Almost two months after three independent adjusters told Florida lawmakers that insurance carriers have frequently doctored their damage assessment reports, the men said they’ve had no contact from state agencies...
Washington Insurance Commissioner Fines Producers, Insurers
Feb 3 2023 // Washington Insurance Commissioner Mike Kreidler issued fines in January totaling $11,000 against insurance companies, producers, brokers, and individuals who violated state insurance laws and regulations. Following are the...
Insurer, Tech Services Firm Settle Claim for Business Lost While Helping Clients Recover From Breach
Feb 3 2023 // A technology and cybersecurity services firm and its insurer have settled a business interruption claim linked to a data breach one month after a federal judge denied the insurer’s bid to have the claim...
General Motors Files to Trademark ‘GM Financial Insurance Company’ Name
Feb 2 2023 // General Motors has filed to trademark “GM Financial Insurance Company,” according to a record found with the U.S. Patent and Trademark Office. The filing was made on Jan. 24, 2022. GM Financial is the auto...
