Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurance Technology: Betterview Features Defensible Space; Clara Analytics Tackles Commercial Auto; Ascend Raises $30M for Premium Finance
Feb 8 2022 // Betterview, an insurtech provider of property intelligence to property/casualty insurance companies, now has available what it calls its Defensible Space feature that enables insurers using the company’s Remote...
Commercial Auto Among Lines With Flattening Rates in 2022, USI Forecast Predicts
Feb 7 2022 // Although it wasn’t the headline of a commercial insurance broker’s market pricing report last month, the report’s observation that “commercial auto liability coverage rates are starting to...
Insurers Deploy Predictive Analytics, Artificial Intelligence in Fraud Fight
Feb 7 2022 // Insurers are getting a larger share of suspicious claim referrals from fraud-detection technology and are increasingly using artificial intelligence to sift through data, according to a new study by the Coalition Against...
All Additional Insureds Aren’t the Same
Feb 7 2022 // For at least the past couple of decades, it seems that in just about every contract, the upstream party wants to be an additional insured (AI) on the downstream party’s insurance. Most commonly, the request is for AI...
World’s First Crypto Mortgage? Homeowners’ Insurers Don’t Hate It
Feb 7 2022 // If homeowners’ insurance carriers weren’t facing enough issues this year, here’s one more to think about: A Miami company is now offering cryptocurrency-based mortgages. Some insurance representatives are...
NBA Team Owner Buys National Security, Alabama-based Insurer
Feb 4 2022 // A holding company formed by the owner of the Sacramento Kings basketball team has agreed to purchase National Security Group Inc., an Alabama-based specialty underwriter of property, casualty and life insurance, for $41...
Natural Disasters Cost Insurers $116B in 2021, or 63% Higher Than Average: Gallagher Re
Feb 4 2022 // Insured losses from major natural catastrophes in 2021 – excluding COVID-related losses – have so far reached an estimated US$116 billion, the third largest total since 2011, and about 63% higher than the average loss...
Threat of War in Ukraine Biggest Risk for Insurers of Beijing Winter Olympics
Feb 4 2022 // The threat of war between Russia and Ukraine is the biggest risk for insurers offering coverage during the Beijing Winter Olympics as an outbreak of hostilities could force team withdrawals or appearance cancellations,...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Feb 4 2022 // Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber attack known as...
Insurer Groups Sue to Stop Washington Credit Scoring Regulations
Feb 3 2022 // The American Property Casualty Insurance Association, the Professional Insurance Agents of Washington, and the Independent Insurance Agents and Brokers of Washington jointly filed two legal actions to halt the enforcement...
Kemper Eyes Rate Hikes, Agency Cancellations to Regain Footing After Q4 Fall
Feb 3 2022 // Kemper Corp. said it is taking rating and other actions, including canceling some agents, as it seeks to recover from inflation-riddled fourth quarter financial results. Kemper Corp. reported a net loss of $105.8 million...
Eighth Circuit: Insurer Has No Duty to Defend Janitorial Service Workplace Discrimination Suit
Feb 3 2022 // The United States Court of Appeals for the Eighth Circuit said that an insurer does not have to provide coverage to a St. Louis, Missouri janitorial service company for a workplace discrimination lawsuit, affirming a...
Louisiana Department of Insurance Fines Auto Insurer $350,000 Over Improper Activity
Feb 2 2022 // Auto insurer Lyndon Southern Insurance Company has paid a maximum $350,000 fine after the Louisiana Department of Insurance performed a comprehensive market conduct examination of the company and found 32 instances of...
Florida Senate Committee Approves Actual-Cash-Value Roof Bill
Feb 2 2022 // It came later than some had expected, but Florida’s Senate Banking and Insurance Committee on Wednesday passed a much-anticipated bill that aims to close gaps left by last year’s insurance reform...
Insurers Grapple With Uncertainty Around Catastrophic Cyber Risk
Feb 2 2022 // Powered by InsuranceJournal.tv Much uncertainty exists around catastrophic cyber threats, and for an industry so focused on analyzing risk, that’s a big challenge, experts say. Some of the recent cyber attacks on...
Washington Commissioner Adopts 3-Year Credit Scoring Ban, Proposes Transparency Rule
Feb 1 2022 // Washington Insurance Commissioner Mike Kreidler has adopted his rule banning insurers from using credit information to set auto, homeowner and renter insurance for three years. Kreidler’s rule temporarily banning...
Louisiana Commissioner: Insurers Have Paid or Reserved $10.5 Billion in Ida Claims
Feb 1 2022 // Insurers have paid or reserved $10.5 billion on all types of Hurricane Ida-related claims in Louisiana through the end of 2021, Insurance Commissioner Jim Donelon said in a release Jan. 31. The Louisiana Department of...
Cyber MGA Resilience Forms Captive Insurer in Bermuda
Feb 1 2022 // Cyber insurance and security provider Resilience Cyber Insurance Solutions has created a captive reinsurance company. Through the Bermuda-based captive, Resilience will retain a share of each risk it underwrites. CJ...
Insurers Could Get Lower Rates on Liquidity with Bills in States
Feb 1 2022 // Many in the insurance industry may think of the Federal Home Loan Bank as an agency that facilitates affordable mortgages for homes. The system, founded in the waning days of the Herbert Hoover administration to support...
Insurers Deploy Predictive Analytics, Artificial Intelligence in Fraud Fight
Jan 31 2022 // Insurers are getting a larger share of suspicious claim referrals from fraud-detection technology and are increasingly using artificial intelligence to sift through data, according to a new study by the Coalition Against...
