Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
White House, Big Tech, Insurers Vow to ‘Raise the Bar’ on Cybersecurity
Aug 26 2021 // The U.S. government on Wednesday said it would work with industry to hammer out new guidelines to improve the security of the technology supply chain, as President Joe Biden appealed to private sector executives to...
UK Insurers Warned They Could Face Regulatory Action Over Car, Home Policies
Aug 25 2021 // LONDON – Insurers in Britain that are not ready to implement tougher “value for money” rules on car and home policies could face disciplinary action, the Financial Conduct Authority said on Wednesday. The FCA...
South Africa’s State Insurer to Raise Premiums to Cover Riot-Related Reinsurance Costs
Aug 25 2021 // JOHANNESBURG – South Africa’s only insurer covering political violence will increase its premiums to cover a rise in reinsurance costs following some of the worst unrest in decades, the head of the state-owned...
Insurer Lessons From UK Court Ruling on Business Interruption: Put Customers First
Aug 25 2021 // COVID-19 has led to the disruption of millions of businesses around the UK, particularly for SMEs who have been beset by an average of £130,000 in late payments. However, the Supreme Court ruling in January provided...
Agency Partnership News Wrap-Up: Smart Choice, United Valley Insurance Services, Valley Insurance Agency Alliance, Keystone Insurers Group
Aug 24 2021 // Smart Choice Agents Program Smart Choice Agents Program, an agency network with over 8,700 independent agents and 100 carrier partners, reported that 631 agents were selected to join the partnership network during first...
Biden Administration Sanctions Russian Insurer for Nord Stream 2: Report
Aug 23 2021 // The Biden administration imposed sanctions on two Russian entities over their involvement in the Nord Stream 2 pipeline project, but is leaving in place a waiver that spared the company overseeing the construction and its...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Aug 23 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
Boy Scouts Delays Bankruptcy Step After Judge Questions Legal Fees, Insurer Deal
Aug 23 2021 // Attorneys for the Boy Scouts of America are postponing a key bankruptcy hearing that was scheduled to start this week, following a court ruling that casts uncertainty on the future of the case. Attorneys on Friday filed...
Effective Sept. 1 All Auto Insurers in Texas Must File Rates with Actuarial Support
Aug 20 2021 // A bill that becomes effective in Texas repeals a section of the state’s insurance code that allows certain auto insurers to file rates with the Texas Department of Insurance (TDI) without providing actuarial support...
Digital Auto Insurer Root Will Add Independent Agents to Its Distribution
Aug 20 2021 // Digital auto insurer Root saw its loss ratio spike in the 2021 second quarter as higher costs for repairs, used vehicles and miles driven rose above pre-pandemic levels. But the Ohio-based insurer continues to report...
Tech Giants Are ‘Too Big to Fail’ Because They Host Insurers, Banks on Cloud Platforms
Aug 20 2021 // More than a decade on from the financial crisis, regulators are spooked once again that some companies at the heart of the financial system are too big to fail. But they’re not banks. This time it’s the tech...
With Federal Legalization Expected, Cannabis Insurers Quietly Get Ready to Roll
Aug 20 2021 // Insurers are quietly gearing up for a potential ten-fold increase in sales to the booming $17.6 billion-a-year cannabis industry as Congress inches closer to legalizing pot at the federal level. While 36 U.S. states and...
Goldman Sachs to Buy Asset Management Arm of Insurer NN Group for Nearly $2B
Aug 19 2021 // AMSTERDAM – Goldman Sachs said on Thursday it will buy Dutch insurer NN Group’s asset management arm for around 1.7 billion euros ($1.98 billion) in the biggest acquisition by the U.S. company since David Solomon...
Parametric Catastrophe Insurer CCRIF to Make Record Payout of $40M for Haiti Quake
Aug 19 2021 // CCRIF SPC, the Cayman Islands-based parametric catastrophe facility, will pay approximately US$40 million to the government of Haiti, following the devastating magnitude 7.2 earthquake, which struck the Caribbean island on...
Marsh and Citi Develop Risk Program With 6 Insurers to Deliver Vaccines Globally
Aug 19 2021 // Global insurance broker Marsh and global bank Citi said they have developed a risk mitigation structure to cover the risk associated with a number of governments that are self-funding their coronavirus vaccine procurement...
Insurers Await Judge’s Ruling as Boy Scouts Bankruptcy Hearings End
Aug 19 2021 // A year and a half after the Boy Scouts of America sought bankruptcy protection amid an onslaught of child sex abuse lawsuits, a Delaware judge is poised to issue a ruling that could determine whether the organization might...
Ratings Changes for P/C Insurers Up Moderately, Says AM Best
Aug 18 2021 // The number of credit rating upgrades and downgrades in the U.S. property/casualty (P/C) insurance industry increased in the first half of 2021 moderately over the same prior-year period, according to an AM Best special...
Ruling Against Dentist’s COVID Business Interruption Could Be Key Win for Insurers
Aug 16 2021 // A federal appellate court ruling that dismissed a dental practice’s COVID-19 business interruption claim might be the beginning of the end for policyholder arguments that income lost because of government shutdowns...
Insurers Expect COVID-19 Liability Claims Against Employers as Employees Return
Aug 16 2021 // Liability insurers on both sides of the Atlantic are scaling back the cover they offer companies ahead of an expected wave of discrimination claims as employers call staff back to their desks after 18 months of...
Hearings Get Underway Into Boy Scouts Bankruptcy Plan Opposed by Insurers
Aug 13 2021 // An attorney for the Boy Scouts of America told a Delaware judge on Thursday that the group’s national board never adopted a resolution approving an $850 million agreement that is the linchpin of the Boy Scouts’...
