Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
German, Chinese Insurers Face Record Disaster Claims as Extreme Weather Intensifies
Aug 12 2021 // Extreme precipitation in mid-July resulted in the costliest flooding events on record for German and Chinese insurers, which face potential losses of $6.5 billion and $1.7 billion, respectively, according to Aon’s...
What Property and Casualty Insurers Need to Know About Using Credit in Underwriting
Aug 10 2021 // This post is part of a series sponsored by TransUnion. Credit-based insurance risk scores draw from credit data to more accurately assess consumer risk and improve the underwriting process Today, credit-based insurance...
AM Best Downgrades Credit Ratings for Kingstone Insurance Company
Aug 10 2021 // AM Best has downgraded the financial strength rating to B+ from B++ and the long-term issuer credit rating to “bbb-” from “bbb” for Kingstone Insurance Company (KICO) of Kingston, New...
Insurers: Washington Commissioner’s ‘Rushed’ Regulatory Process Will Hurt Policyholders
Aug 9 2021 // The American Property Casualty Insurance Association submitted comments in opposition to stakeholder draft regulations which will make Washington Commissioner Mike Kreidler’s emergency regulations banning the use of...
Insurers Expect COVID-19 Liability Claims Against Employers as Employees Return
Aug 6 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...
U.S. West Consumer Survey: 4-in-10 Policyholders Don’t Talk to Insurer About Wildfire Risks
Aug 5 2021 // Most residents of the wildfire-plagued Western U.S. believe in mitigation efforts, but fewer are actually taking such steps – while more than 40% have never spoken to their insurer about wildfire risk, according to a...
Naspers Invests in Online Insurer Naked as Part of South African Investment Push
Aug 5 2021 // Naspers Ltd. is backing online insurance company Naked as part of a commitment to invest almost $100 million in tech startups in its home market of South Africa. The 120 million-rand ($8.4 million) stake makes Naspers the...
Investors Complete Acquisition of Specialty Insurer ProSight Under Plan to Go Private
Aug 4 2021 // Investment management firm TowerBrook Capital Partners and private equity firm Further Global Capital Management said they have completed the acquisition of ProSight Global, Inc., a New Jersey-based domestic specialty...
Ruling Against Dentist’s COVID Business Interruption Could Be Key Win for Insurers
Aug 4 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...
How Homeowners Insurers Can Prepare for the Cannabis Era
Aug 2 2021 // Talk about a growth market. Since Colorado and Washington became the first to pass state laws designed to legalize certain sale and consumption of recreational cannabis in their respective states in 2012, 15 other states...
Judge: Assertion of Virus’ Presence a Reason for Case Against Ohio Insurer to Proceed
Aug 2 2021 // A gym and fitness center in Pennsylvania won a minor victory on July 13 in a dispute with an Ohio-based commercial property insurer over business interruption coverage claims stemming from closures caused by the COVID-19...
DFS Issues New Report on Insurers’ Management of Climate Change Risks
Jul 30 2021 // The New York State Department of Financial Services (DFS) has issued a report analyzing New York domestic insurers’ management of the financial risks from climate change based on their 2020 responses to the National...
Ireland to Introduce Laws to Make Insurers, Bankers Accountable for Corporate Failings
Jul 30 2021 // DUBLIN – Ireland will introduce long-anticipated laws to make senior bankers and executives in other financial sectors directly accountable for failings at institutions over the next 12 to 18 months, Finance Minister...
China Regulator Urges Insurers to Expand Natural Disaster Coverage
Jul 29 2021 // BEIJING – China’s banking and insurance regulator said on Thursday that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings. It also plans to raise public...
P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1
Jul 29 2021 // Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an...
British On-Demand Drone Insurer Flock Raises $17 Million in Funding
Jul 29 2021 // British drone insurer Flock has raised $17 million from investors in early-stage funding led by venture investor Chamath Palihapitiya’s Social Capital, Flock said on Thursday. Flock started out insuring commercial...
5% Rate Increase Recommended for Texas Windstorm Insurer
Jul 22 2021 // The Actuarial & Underwriting Committee for the Texas Windstorm Insurance Association (TWIA) has recommended that the association’s board vote at its Aug. 3 meeting to file for a 5% rate increase for residential...
Virus’ Presence a Reason for Case Against Ohio Insurer to Proceed: Judge
Jul 22 2021 // A gym and fitness center in Pennsylvania won a minor victory on July 13 in a dispute with an Ohio-based commercial property insurer over business interruption coverage claims stemming from closures caused by the COVID-19...
As Cyberattacks Rise, Cyber Insurers Are Rethinking Their Business
Jul 21 2021 // The hacks came one right after another, sowing chaos at hospitals, idling America’s biggest gasoline pipeline, crippling a huge meat supplier and devastating hundreds of companies over the July 4 weekend. Now,...
Surplus Lines Insurers Report 21.9% Premium Hike in First Half of 2021
Jul 20 2021 // Surplus lines premium exceeded $24 billion and premium bearing transactions exceeded 2.6 million through the first six months of 2021, according to the 2021 Midyear Report of the U.S. Surplus Lines Service and Stamping...
