Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
AgentSync Launches Contracting Solution to Simplify the Carrier Contracting Experience Following the Acquisition of eContractPro
May 5 2022 // Insurance technology leader unveils the most efficient solution to streamline all carrier contracting needs, from managing carrier requirements to tracking producer status. Denver, CO, May 5, 2022 –– AgentSync, the...
Western Ship Insurers Terminate Cover for Russia’s Sovcomflot as Sanctions Expand
May 4 2022 // Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company...
Africa’s Largest Insurer, Samlam, Partners With Allianz on $2.1 Billion Deal
May 4 2022 // Sanlam Ltd., Africa’s largest insurer, agreed to form a joint venture with Germany’s Allianz SE that will combine their assets on the continent valued at 2 billion euros ($2.1 billion) and help the partnership...
Kentucky Becomes 21st State to Adopt Model Cyber Security Law for Insurers
May 2 2022 // Kentucky has become the 21st state to adopt a data security law that will require insurers and larger agencies to beef up measures designed to help prevent cyber attacks and data breaches. Gov. Andy Beshear in April signed...
Dog-Related Claims Cost U.S. Home Insurers Nearly $900M in 2021
May 2 2022 // Dog bites and other dog-related injuries accounted for more than one-third of all homeowners liability claim dollars paid out in 2021, costing $881 million, according to an analysis by the Insurance Information Institute...
Why Carriers Partner with Agency Networks
May 2 2022 // If you’re an independent agent who is thinking about joining a network, you probably want to know what networks can offer you. Access to the top 10 carriers is often the highest priority on an agency’s wish...
Aspen Becomes 17th Insurer to Stop Insuring Canada’s Trans Mountain Pipeline
May 2 2022 // Lloyd’s of London syndicate Aspen Insurance has decided to cut ties with the existing Trans Mountain pipeline when its current insurance policy expires this summer, according to the climate activist group, Coal...
Louisiana Insurers Have Paid or Reserved $12.1B on Ida Claims
Apr 29 2022 // Louisiana Insurance Commissioner announced insurers have paid or reserved $12.1 billion on all types of Hurricane Ida-related claims in Louisiana through March 31. This data is the second measure of damage from Hurricane...
Markets/Coverages: Home Insurer Hippo Expands to New York State
Apr 29 2022 // Hippo Insurance Services announced it will offer home insurance products in New York State. With New York, Hippo products are now in 38 states. New Yorkers will have access to Hippo’s offerings, including home...
Lloyd’s Insurer Lancashire Sees Manageable Russia-Ukraine Losses
Apr 28 2022 // Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk...
Britain Proposes Post-Brexit Relaxation of Solvency II Capital Rules for Insurers
Apr 28 2022 // Britain launched public consultation on Thursday for a post-Brexit relaxation of capital rules for insurers, in a step the government said would increase investments in long-term infrastructure. Britain inherited rules...
Oklahoma Insurers to be Assessed $150 to Fund Market Assistance Program
Apr 27 2022 // All Property & Casualty insurers in Oklahoma will face a $150 assessment to fund the Oklahoma Market Assistance Program (OK-MAP) Plan of Operation, the Oklahoma Insurance Department announced this week. The OK-MAP Plan...
India Slashes Size of Mega Insurer’s IPO With Issue Opening Next Week
Apr 27 2022 // India slashed the size of its biggest initial public offering by about 60%, pressing ahead with the sale even as the war in Ukraine continues to weigh on investor demand. Prime Minister Narendra Modi’s government...
U.S. Lawmakers Push Insurers to Stop Underwriting Fossil Fuels
Apr 27 2022 // A group of Democratic lawmakers, mostly members of the Congressional Progressive Caucus, have asked some of the nation’s biggest insurance companies to stop underwriting new fossil fuel projects that contribute to...
Insurer Jumped Gun with Appeal on CBD Plant Fire Claim, Appeals Court Finds
Apr 22 2022 // Insurance company officials and attorneys have been known to complain when policyholders file suit before the parties have had a chance to settle a claim. In West Virginia, it was the insurer, Kinsale Insurance Co., that...
Aspen Becomes 17th Insurer to Stop Insuring Canada’s Trans Mountain Pipeline
Apr 21 2022 // Lloyd’s of London syndicate Aspen Insurance has decided to cut ties with the existing Trans Mountain pipeline when its current insurance policy expires this summer, according to the climate activist group, Coal...
AM Best Withdraws Credit Ratings of Old Glory Insurance Company
Apr 21 2022 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Old Glory Insurance Company, based in...
Innovation Boosts Carrier Top Lines: AM Best
Apr 20 2022 // Insurers with well-developed innovation initiatives have much higher levels of top-line growth than those who lag behind on the innovation curve, AM Best reported last month. In a special report titled “Insurers...
Carrier and Agency Duties Under the DOL Fiduciary Rule
Apr 20 2022 // This post is part of a series sponsored by AgentSync. The insurance industry thrives on rewarding top-selling agents, but the Department of Labor’s (DOL’s) fiduciary rule says traditional sales incentives tied...
Insurer Travelers’ Profit Beats on Lower Catastrophe Losses
Apr 19 2022 // Property and casualty insurer Travelers Companies Inc. reported a 48% jump in quarterly profit that beat analysts’ estimates on Tuesday, as lower catastrophe-related claims cushioned a hit from investment losses. The...
