Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Maine Agency Faces Backlash, Loses 3 Carriers After Juneteenth Posting
Jun 24 2022 // An independent insurance agency in Millinocket, Maine has lost three of its carrier partners and continues to face backlash on social media and in its community after posting a racially-charged sign on its door on Monday,...
Cyber Insurtechs and Insurers ‘In This Together,’ Not in Competition
Jun 24 2022 // Insurtechs and insurance companies are “breaking down the wall” that stood between them as competitors in favor of working together to tackle dynamic cyber risk. “We’re all trying to solve the same...
Insurers Among Investors as Canada’s Brookfield Raises $15B for Climate Fund
Jun 24 2022 // Canada’s Brookfield Asset Management said on Wednesday it had raised $15 billion for its first impact fund focused on the global transition to a net-zero carbon economy. The fundraise comes at a time when investors...
Digital Insurer Startup Wefox Seeks Funding at Over $5 Billion Value
Jun 22 2022 // Wefox, the German digital insurer, is in advanced discussions to raise fresh funding at a valuation of $5 billion to $6 billion, people with knowledge of the matter said. The Berlin-based insurtech startup is aiming to...
Agent-Focused Home Insurer Openly Closes $75 Million Funding Round
Jun 22 2022 // Boston-based Openly, an insurtech homeowners insurer distributing through independent agents, has closed a $75 million Series C investment. According to founders Ty Harris and Matt Wielbut, Openly has responded to a...
Turkish Insurers Facing Severe Strain, Fitch Ratings Warns
Jun 22 2022 // Turkish insurers are facing one of their most challenging operating environments of the past decade, with earnings and capital adequacy likely to come under severe strain in 2022-2023, Fitch Ratings says in a new...
Top EU Court Says Insurer Must Pay Spanish Claim in Galicia Oil Spill
Jun 21 2022 // BRUSSELS – Spain on Monday won backing from Europe’s top court in its mutli-million euros damage claim against The London Steam-Ship Owners Mutual Insurance Association for a massive oil spill on its...
Iowa Court: Carrier Ineligible For Retroactive Reimbursement on Mistaken Workers’ Comp Claim
Jun 20 2022 // An Iowa workers’ compensation insurance carrier is not entitled to retroactive reimbursement from another insurer for benefits it paid in error, the state Supreme Court ruled this month. American Home Assurance paid...
Sovcomflot’s Cargo Ships Fully Covered by Russian Insurers: CEO
Jun 20 2022 // Russia’s state-run Sovcomflot has insured all its cargo ships with Russian insurers and the cover meets international rules, the chief executive said, after Western insurers withdrew cover. Western insurers halted...
New Jersey No-Fault Law Does Not Bar Suit Over Insurer Delay in Approving Treatment
Jun 20 2022 // An insured claiming his auto insurer’s delay in approving treatment caused his injuries to worsen is entitled to prove his breach of contract claim despite New Jersey’s no-fault law. That law governing personal...
Future Profit Models for Insurers and Their Agent/Broker Partners
Jun 20 2022 // I read an article written by a former carrier CEO who is now a consultant and private equity backer to insurance ventures. The main point of the article was that insurtech, or any paradigm shifting insurance entity, will...
Insurers, Self-Insureds Facing $9 Billion in Black Lung Liabilities
Jun 20 2022 // The U.S. coal industry may be shrinking rapidly as the country shifts to renewable energy, but insurers’ and self-insured companies’ liabilities for black lung occupational disease claims have ballooned –...
Inflation Is Inevitable. Why Are Property Insurers Unprepared?
Jun 20 2022 // I remember when it became clear that the economy was barreling toward an inflationary period the likes of which the United States hasn’t experienced in 40 years. It was Christmas 2020. My extended family was gathered...
From Pandemic to Cyber War, Clear Policy Wording Is Key for Insurers
Jun 15 2022 // Insurers and insureds alike agree that clear policy wording will be the path forward in dealing with concerns about cyber war in the wake of the Russia-Ukraine conflict. This isn’t the first time in recent history...
UK Insurers Need to Consider Climate Change Risks: Accounting Watchdog
Jun 15 2022 // The UK’s accounting watchdog is proposing new rules for insurance companies to make sure actuaries factor in climate change risk. “As the importance of climate change risks continues to grow it is critical that...
Three Nominees for Florida Supreme Court Appear to Lean the Insurer Way
Jun 15 2022 // Some Florida insurers may feel like they didn’t score a home run with the recent property insurance reform measures signed into law in May. But they could soon see a friendly umpire on the state Supreme Court, likely...
Insurers Increasingly Concerned for Western U.S. Wildfire Season
Jun 14 2022 // As Western wildfires force evacuations in Arizona and California – on the heels of an early and severe wildfire season in New Mexico – insurers are increasingly eyeing the growing risks. “Insurers are very much...
5th Circuit Allows Insurer to Recoup Payment for Damage to Docking Facility
Jun 14 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...
People Moves: SiriusPoint Names Heerasing UK Country Branch Mgr; Re/Insurer IQUW Offers Crisis Mgmt Product With Team Led by Talbot’s Atkinson
Jun 13 2022 // This edition of International People Moves details appointments at Bermuda-based re/insurer SiriusPoint and London headquartered re/insurer IQUW. A summary of these announcements follows here. SiriusPoint Names Heerasing...
Black Sea Mine Removal Needed Before Ukraine Grain Can Be Shipped, Insurers Return
Jun 13 2022 // As the United Nations tries to broker a path for grain from Ukraine and temper worries about a global food crisis, hundreds of mines laid along the Black Sea present a practical nightmare that will take months to resolve...
