Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Pennsylvania Issues Its ‘Expectations’ for Insurance Carriers Regarding Their Use of AI
Apr 10 2024 // Pennsylvania has issued guidance for insurance companies’ use of artificial intelligence systems (AIS) based on a model adopted by the National Association of Insurance Commissioners (NAIC). The Pennsylvania...
Virginia Gov. Youngkin Seeks to Fix ‘Bad Faith’ Bill That Insurers Wish He’d Veto
Apr 9 2024 // Virginia Gov. Glenn Youngkin has returned a “bad faith” insurance claims bill to the General Assembly with recommendations for changes, disappointing property/casualty insurers that were hoping he would veto...
A New Way For Insurers to Accurately Assess Non-Weather Fire Risk
Apr 9 2024 // This post is part of a series sponsored by CoreLogic. Thirty years ago, we had seventeen minutes to escape a fire. Today, we only have three minutes. This is the result of the widespread use of petroleum-based products and...
Inflation Contributes to Rising Loss Costs for US Commercial P/C Insurers: Fitch
Apr 9 2024 // Inflation is bringing rising loss costs for US commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three US insurers — Cincinnati Financial Corp., HCC Insurance Holdings...
Pressure Grows on Swiss Insurer Baloise to Change Voting Rules
Apr 8 2024 // Shareholder pressure is growing on insurer Baloise to change its voting rules, with influential proxy adviser Glass Lewis backing one investor’s bid to remove a 2% ceiling on voting rights, saying it would make the...
Taiwan Property Insurers Likely to Remain Profitable Despite Quake Losses: GlobalData
Apr 5 2024 // The 7.2 magnitude earthquake that struck Taiwan’s east coast on April 3 caused substantial damage, particularly in Hualien with collapsed buildings and infrastructure disruptions. However, insurers are expected to...
Private Credit Is Top Choice for Insurers Managing $13 Trillion
Apr 5 2024 // For the first time, a fixed-income sector — private credit — topped the list of favored assets in Goldman Sachs Asset Management’s annual survey of global insurance companies. Of the 359 executives polled, 53%...
Colombia Insurers Fear Petro’s Takeover to Spark Health Crisis
Apr 4 2024 // President Gustavo Petro’s decision to take control of a top Colombian health insurer sets a dangerous precedent, according to the industry and patient associations. The South American nation’s health...
A New Approach: Florida Agents Association Makes Big Investment in Startup Insurer
Apr 4 2024 // The Florida Association of Insurance Agents, the largest agent group in the state, has taken the unprecedented step of investing in a startup insurance carrier, a move designed to help keep agents in the game and bring...
Spinnaker Veterans Launch P/C Fronting Carrier With Backing From Bain Capital
Apr 3 2024 // Emerald Bay Risk Solutions has launched as a property/casualty insurance fronting carrier, backed by Bain Capital Insurance and headed by a group of insurance veterans who have fronting experience. Calling itself a...
How Do Insurers Define Systemic Cyber Risk?
Apr 2 2024 // Systemic cyber risk is being discussed as a growing concern for insurers as technology advances and interconnectivity increases, but how is this risk defined? That may be one of its gray areas. “As you go through...
Brookfield’s $200 Billion Credit Group Seeks to Lure Insurers
Apr 1 2024 // Brookfield Asset Management’s newly formed credit arm will cater to its parent’s insurance business and will also pitch other insurers on overseeing their assets, the unit’s chief executive officer...
REQUEST FOR INFORMATION: Unlocking Insurance Company Capital for Community Investment
Apr 1 2024 // Washington, D.C., April 1, 2024 – In collaboration with the Robert Wood Johnson Foundation, the Center for Community Investment (a sponsored project at Rockefeller Philanthropy Advisors) seeks ideas and information...
Twice as Many Personal Lines Insurers Downgraded by AM Best in 2023
Apr 1 2024 // AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in its official tally for the year. Additional...
Canada’s Desjardins Acquires Insurance Company of Prince Edward Island
Mar 27 2024 // Canada-based Desjardins, through its subsidiary Desjardins General Insurance Group Inc., and ICPEI Holdings Inc. announced they have entered into definitive agreements for Desjardins to indirectly acquire all of...
Alabama Bill Would Let Alfa Federation, Not Insurer, Sell Health Plans. BCBS Opposes
Mar 22 2024 // Alfa, one of the largest property-casualty insurers in Alabama, is clarifying that it is not planning to move into the health insurance business: A hotly debated bill in the state Legislature would allow Alfa’s...
South African Insurer Discovery in Talks With US Insurers to Expand
Mar 22 2024 // Discovery Ltd., South Africa’s biggest health insurance provider, is in talks with US peers to bring its flagship wellness program known as Vitality to their market. While Discovery has long had a relationship with...
Corner Turned? Top Florida Insurers See First Profit in Seven Years, S&P Global Says
Mar 22 2024 // Florida’s beleaguered property insurance market is starting to look normal again, with the top insurers in the state showing a collective profit for the first time in seven years, S&P Global Market Intelligence...
UK Insurer Direct Line Posts Operating Loss as it Grapples With Auto Claims Inflation
Mar 21 2024 // Direct Line posted a 2023 operating loss as it grapples high motor claims inflation, but reinstated its dividend as the British home and motor insurer tries to fend off takeover offers from Belgian rival Ageas. The 189.6...
Markets/Coverages: Tech Firm Gabriel Partners With Re/insurer Chaucer and Crisis Mgmt Specialist to Offer Active Assailant Product
Mar 21 2024 // Gabriel, an Israel-based technology company that tackles the challenge of mass shootings and workplace violence threats, announced it has partnered with global specialty re/insurance group Chaucer and crisis management...
