Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Montana Man Must Pay Restitution to Insurer for Arson
Jun 1 2021 // A south-central Montana man who pleaded no contest to hiring someone to burn down his house for the insurance money so he could pay a debt to the federal government in a drug case has been ordered to pay...
Swiss Financial Watchdog Requires Insurers, Banks to Disclose Climate Change Risks
Jun 1 2021 // ZURICH – Large Swiss banks and insurance companies will have to provide qualitative and quantitative information about risks they face from climate change, Swiss financial watchdog FINMA said on Monday as it released an...
Workers’ Comp Insurer SUNZ Expands into 13 Additional States
Jun 1 2021 // Florida-based SUNZ Insurance Co. is now licensed to write workers’ compensation policies in 13 additional states: Colorado, Hawaii, Iowa, Nevada, New Hampshire, New Mexico, South Carolina, South Dakota, Utah,...
Wrongful Death Suit Filed Against County, Insurers Over Fatal 2020 Alabama Marina Fire
Jun 1 2021 // A lawsuit filed over a dock fire that killed eight people at a county marina in north Alabama last year contends officials failed to ensure the safety of the structure. The wrongful death suit names Jackson County...
Cyber Insurers Seeing Surge in Interest by Energy Companies Since Pipeline Attack
May 28 2021 // U.S. energy companies are scrambling to buy more cyber insurance after this month’s attack on Colonial Pipeline disrupted the U.S. fuel supply, but they can expect to pay more as cyber insurers plan to hike rates...
COVID Takes Big Bite from Multiline Insurers’ Earnings, in ‘Manageable’ Event: S&P
May 28 2021 // The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global Ratings. This net profit...
Cyber Insurers Hike Rates But Worry About Pricing Long-Term As Losses Mount: Fitch
May 27 2021 // U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings. Fitch predicts that immediate...
Lloyd’s, London Insurers Form Joint Venture with DXC to Transform Digital Processing
May 27 2021 // Lloyd’s and insurers in the London company market have formed a joint venture with DXC Technology, aiming to transform digital capabilities and reduce processing costs for the London insurance markets. The joint...
Texas Seeking Insurer Data on Catastrophe Experience in 2020
May 26 2021 // The Texas Department of Insurance (TDI) has issued a data call for information from certain insurance companies writing property insurance in Texas during calendar year 2020. The information will be used by the Texas...
Swedish Tech Start-up Haidrun Launches Blockchain Platform Targeted at Re/Insurers
May 25 2021 // Swedish tech start-up Haidrun has launched an enterprise blockchain platform targeted at insurers and reinsurers. Haidrun’s private blockchain platform eliminates suspicious and duplicate transactions by securely and...
Crypto Insurer Evertas Raises $5.8M in Seed Funding
May 25 2021 // Evertas, a cryptoasset insurance company, said it has raised nearly $5.8 million in seed funding, which it will use to accelerate product development, increase its insurance cap[a city and build out its infrastructure. The...
Beneath the Surface: Why Insurers Should Look Beyond “the Tip of the A.I. Iceberg”
May 24 2021 // Nearly 75% of respondents in a recent survey from the Coalition Against Insurance Fraud and Shift Technology said they believe that among relevant technology, artificial intelligence (A.I.) will have the greatest impact on...
Wisconsin Court Rejects Man’s Suit Against Insurer After Bull Attack
May 23 2021 // A man who fell into depression and attempted suicide after he was gored by a bull can’t sue an insurance company for deciding to stop covering his medication, the Wisconsin Supreme Court ruled. According to court...
Italy Probes Alleged Cartel Among Auto Insurers, Including Allianz Direct, Zurich
May 21 2021 // MILAN – Italy’s antitrust watchdog said on Friday it had opened an investigation into an alleged cartel among insurance companies and insurance price comparison companies to limit competition for automobile...
Outlooks Revised to Positive for Workers’ Comp Insurer Stonetrust
May 20 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Stonetrust Commercial Insurance Co....
Insurer Aviva Will Close 3 UK Property Funds Hit by Pandemic Economic Turmoil
May 20 2021 // Insurer Aviva said it will close three UK property funds in July that have been suspended since March last year due to market uncertainty as the pandemic hit Britain’s economy. “During this period of economic...
March Storm in Eastern Canada Cost Insurers C$50 Million
May 19 2021 // A storm that moved across eastern Canada from March 26-29 brought heavy rain and strong winds, causing C$50 million (US$41.5 million) in insured damage, according to initial estimates from Catastrophe Indices and...
The Potential Liabilities for Cities, Insurers from Florida’s New ‘Anti-Riot’ Law
May 18 2021 // The right to protest in America is a fundamental right guaranteed by the First Amendment to the United States Constitution, which protects both the “freedom of speech” and the “right of the people...
Law Firms and Their Insurers Feel the Pain of Bigger Malpractice Claims
May 17 2021 // Even as law firms made adjustments to sustain their operations through the COVID-19 pandemic, they were unable to avoid the rising costs of malpractice claims. Indeed, the time period beginning in 2019 through mid-2020...
COVID Is Far From the Only Risk Facing Insurers and Financial Sector Firms: Allianz
May 17 2021 // COVID-19 may drive market corrections and insolvencies that could impact financial institutions’ balance sheets, increase exposures for directors and result in litigation. However, financial institutions are also...
