Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Warn Washington Court Ruling Will Raise Rates for a Million Consumers
Apr 26 2021 // Insurer groups expressed disappointment over a judge’s ruling denying an industry request to halt an emergency rule that temporarily bans the use of insurance credit scoring in Washington. The Independent Insurance...
Insurer for Ever Given Container Ship Appeals Detention by Egypt After Suez Grounding
Apr 23 2021 // LONDON – UK Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by authorities. The Ever...
Suit Pitting Insurers Against Washington Commissioner Getting Heard
Apr 22 2021 // A case pitting several insurer groups against Washington Insurance Commissioner Mike Kreidler is set to be heard on Friday morning. The Independent Insurance Agents and Brokers of Washington, the Professional Insurance...
Insuring Cannabis Webinar Take Home: Carriers, Brokers Waiting on Sidelines
Apr 22 2021 // There may be many more carriers and brokers waiting on the sidelines of the insuring cannabis sector to get in than most may realize. That was among the messages delivered by experts during Insurance Journal’s...
Insurers Prefer Private Equity Investments over Hedge Funds: Survey
Apr 22 2021 // LONDON — Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored asset...
Goldman Survey: Insurers Favoring Private Equity Over Hedge Funds
Apr 22 2021 // Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored asset class for insurers...
P/C Insurers Returned $13B in Premiums Due to COVID-19 Reduced Exposures
Apr 21 2021 // U.S. property/casualty insurers returned nearly $13 billion in premiums to policyholders in 2020 to reflect reduced exposures from the COVID-19 pandemic. Auto insurers returned premium in the greatest numbers, though...
New York Petroleum Carrier Pays $375K for Seaman’s Protection Act Violation
Apr 21 2021 // A Long Island, New York-based petroleum barge company and three former and current management officials have paid $375,000 in restitution to the brother of one of two seamen killed in a barge explosion off the coast of...
Insurers Warn that Drivers May Not Understand Limits of ‘Automated’ Car Technology
Apr 21 2021 // LONDON – Britain’s goal to be a leader in adopting self-driving cars could backfire unless automakers and government regulators spell out the current limitations of the technology, insurance companies...
Insurer to Pay $8M Settlement in Suit by Black Man Paralyzed by Iowa Officer
Apr 20 2021 // An insurance company for the City of Cedar Rapids, Iowa, will pay $8 million to a Black motorist who was paralyzed after a white police officer shot him during a 2016 traffic stop, both sides announced on April 19. The...
Insurer for Georgia City to Pay $1.7M to Business Owner in Harassment Suit
Apr 20 2021 // A suburban Atlanta barbecue restaurant owner will get $1.7 million to settle a federal lawsuit claiming he was harassed by government officials and employees. The city of Stockbridge’s insurer will pay the money to...
Insurers Report Estimated Q1 Catastrophe Losses
Apr 20 2021 // Carriers are starting to report their pretax catastrophe loss estimates for the 2021 first quarter, and the numbers are significant. Below are preliminary numbers from Allstate, Arch, AXIS, and The Hanover. *** The...
With Claims Rising, Cyber Insurers Need More Than Sizable Rate Increases: Fitch
Apr 20 2021 // Cyber insurance underwriters are reporting substantially higher claims losses in 2020 than in prior years and as a result face increasing profit pressure. insurers will have to achieve both significant premium rate...
Insurers Have Paid Nearly $1.7B Property, Auto Claims from Texas Winter Storm
Apr 19 2021 // As of late March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that blanketed the state in mid-February. That number reflects preliminary results from a data call...
Transportation Insurer Lancer to Merge Into Core Specialty
Apr 19 2021 // Commercial auto insurer Lancer Insurance Co. has agreed to merge with another specialty insurer, Core Specialty, where it will operate under its own brand name as Core Specialty’s ninth specialty property/casualty...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
Apr 19 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
P/C Insurers Show 2020 Underwriting Profits Despite COVID-19: Fitch
Apr 19 2021 // Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined...
Q1 Activity Signals Record Insurer M&A Deals Ahead in 2021: S&P
Apr 19 2021 // Insurance carrier mergers and acquisitions could reach historic levels in 2021 based on early indications from a robust first quarter, according to a new Standard & Poor’s report. U.S. and/or Bermuda based...
Auto Insurers Lead 2020 U.S. Property/Casualty Impairments: AM Best
Apr 16 2021 // Seven insurance company impairments were identified in the U.S. property/casualty industry in 2020, with five of the seven involving auto insurers, according to an AM Best special report. Last year’s number was an...
Connecticut Reminds Insurers to Avoid Discriminatory Practices with Big Data
Apr 16 2021 // Connecticut Insurance Department (CID) Commissioner Andrew N. Mais issued a formal notice to insurers licensed by the department that their use of technology and big data must be in full compliance with federal and state...
