Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurtech Startup Quotech Announces £1 Million Investment Led by Re/insurer Convex
Aug 8 2022 // Quotech, the insurtech that creates data-taming systems for specialty insurers, brokers, and MGAs, has raised £1 million from a number of angel investors and Convex Group Ltd., the international specialty insurer and...
Catch 2022: Law Requires Fla. Insurers to Report Plaintiff Legal Fees, But Data Not There
Aug 8 2022 // At a recent workshop held by the Florida Office of Insurance Regulation, a claims specialist for USAA summed up the conundrum that property insurers are about to face when asked to report the other side’s legal fees...
UK’s Solvency II Reforms Could Open Door to Share-Buyback Bonanza for Insurers
Aug 5 2022 // Insurers would potentially be able to use billions of pounds of expected gains from a relaxation of capital rules for share buybacks and to pay dividends, under plans by both candidates to succeed Boris Johnson as UK prime...
Louisiana Insurers Have Paid $13.1 Billion on Ida Claims
Aug 4 2022 // Louisiana insurers have paid or reserved to pay $13.1 billion on Hurricane Ida claims through June 30, 2022, the state’s department of insurance announced this week. Policyholders have filed 460,709 claims of all...
UK Insurer Aviva Builds Private Client Business With Azur Acquisition
Aug 4 2022 // UK Insurer Aviva has agreed to sign a binding agreement with the specialist managing general agent Azur Underwriting Ltd., to acquire its high-net-worth personal lines business in the UK and Ireland. Financial details of...
Viewpoint: Regulatory Interest in Big Data, AI More Than a Carrier Problem
Aug 4 2022 // The California Insurance Commissioner and the California Department of Insurance (CDI) recently issued a bulletin regarding industry bias and discrimination. The bulletin acknowledged allegations of bias and discrimination...
Weston Insurance Becomes Fifth Florida Insurer to Go Insolvent This Year
Aug 4 2022 // Weston Property & Casualty Insurance Co. is insolvent and should be placed into receivership, making it the fifth Florida property insurer this year to be dissolved, according to state regulators. The Florida Office of...
How Should Insurers Be Thinking About Digital Privacy Post-Roe v. Wade?
Aug 3 2022 // Powered by InsuranceJournal.tv The U.S. Supreme Court’s June overturning of the 1973 Roe v. Wade decision protecting women’s constitutional right to an abortion has brought with it reports of growing digital...
Lloyd’s Insurer Hiscox to Provide Insurance for Ukraine Grain Shipments
Aug 3 2022 // Hiscox is committed to a planned insurance consortium providing cover for ships traveling through a safe passage from Ukraine, its chief executive said on Wednesday, as the Lloyd’s of London insurer shares plunged on...
French Insurer AXA Posts 3% Rise in H1 Net Profit
Aug 3 2022 // French insurer AXA announced a new share buyback program as it posted a 3% rise in first-half net profit, driving up its stock price. AXA, Europe’s second-biggest insurer behind Germany’s Allianz, said it would...
UK Motor Insurer Direct Line to Raise Premiums After H1 Profit Hit
Aug 2 2022 // British motor insurer Direct Line is raising premiums after higher claims hit its first-half profits, as the company feels the effects of soaring prices for everything from used cars to spare parts. Chief Executive Penny...
The Hidden Costs of Switching Carriers at Renewal Time
Aug 2 2022 // This post is part of a series sponsored by IAT Insurance Group. It’s no secret, insurance costs are on the rise – across coverages. And current market trends reveal larger increases in the first quarter of 2022....
Liberty Mutual Insurance Acquires Malaysian Insurer AmGeneral
Aug 1 2022 // Liberty Mutual Insurance has completed the acquisition of Malaysian insurer AmGeneral Insurance Berhad, which is expected to make Liberty Mutual the country’s largest auto insurer. AmGeneral was previously 51%-owned...
Louisiana Judge: State Can’t Order Insurers to Pay Ida Evacuation Expenses
Aug 1 2022 // A Louisiana judge has ruled that the state’s insurance commissioner’s directive ordering insurers to pay policyholders’ Hurricane Ida evacuation expenses is invalid and unenforceable. Judge Patrick Moore...
Solving the Insurers’ Red Queen Dilemma
Aug 1 2022 // Well, in our country,’ said Alice, still panting a little, ‘you’d generally get to somewhere else — if you ran very fast for a long time, as we’ve been doing.’ ‘A slow sort of...
Despite Growing Pressures, Most Cyber Insurers Won’t Exit: Survey
Aug 1 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...
Lemonade Closes Deal for Auto Insurer Metromile
Jul 28 2022 // Digital insurer Lemonade said it has closed of the acquisition of pay-per-mile car insurance provider Metromile in an all-stock transaction. Metromile shareholders received 7.3 million Lemonade shares, while Lemonade...
Global Natural Disasters Cost Insurers $34 Billion in H1 2022: Munich Re
Jul 28 2022 // Global natural disasters during the first half of 2022 cost insurers about US$34 billion, which covered a little more than half of the overall $65 billion in losses from floods, earthquakes, and storms during the first six...
Insureds Can’t Block Repairs Then Sue Insurer, Florida Appeals Court Agrees
Jul 28 2022 // Insureds cannot recover damages from the insurance company if they failed to comply with the policy and failed to allow the insurer to make the needed repairs, a Florida appeals court decided Wednesday. Florida’s 3rd...
Lloyd’s Insurers Preparing to Cover Ukraine Grain
Jul 27 2022 // Lloyd’s of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their plans shortly, the commercial insurance market’s chairman said on...
