Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Have Not Yet Embraced Cryptocurrency Craze Despite Demand
Apr 1 2021 // If Elon Musk’s Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck. Insurers have yet to...
London Market Insurers’ 2020 Profits Canceled by COVID-19 but Rates Are Rising
Apr 1 2021 // Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event...
SPAC Mania Anxiety Grows; Bankers, Regulators, Insurers Try to Keep Pace
Apr 1 2021 // Anxiety is growing that the wellspring of special-purpose acquisition companies, a 2020s echo of the dot-com mania of the 1990s, is bumping up against the limits of both Wall Street and Washington. The pipeline of SPACs...
Australia’s Floods to Hit Insurers’ Earnings, Put Upward Pressure on Reinsurance Rates
Mar 31 2021 // Insured losses from Australia’s March floods are expected to hit general (or property/casualty) insurers’ underwriting margins and earnings in 2021, while putting more upward pressure on reinsurance rates,...
Arkansas Takes Control of Pharmacy Benefits Insurer
Mar 31 2021 // An Arkansas-based pharmacy benefits insurer has been placed into rehabilitation, the Arkansas Insurance Department reported. Indy Health Insurance Company Inc. (IHIC) is an Arkansas domiciled company that provides Medicare...
Global Insurers Paid $89 Billion for Natural, Manmade Disasters in 2020: Swiss Re
Mar 30 2021 // Natural and man-made catastrophes cost the insurance industry US$89 billion in 2020, in the fifth costliest year since 1970, according to a report from Swiss Re’s sigma. Of that total, US$81 billion related to claims...
Caesars in Nevada Puts Pandemic Losses At $2B, Wants Insurers to Pay
Mar 29 2021 // Casino giant Caesars Entertainment Inc. is putting its losses because of the coronavirus pandemic in 2020 at more than $2 billion, and is suing a long list of insurance carriers it accuses of balking at paying its business...
Analysts Affirm CNA Ratings As Insurer Continues Probe of Cyber Attack
Mar 29 2021 // CNA Financial Corp.’s financial ratings have not been affected by the insurer’s recent cyber attack. AM Best, S&P Global Ratings and Fitch Ratings all affirmed their current ratings and outlooks for CNA and...
Generali Raises Bid for Aviva Poland in Battle with Dutch Insurer NN: Sources
Mar 25 2021 // MILAN – Italian insurer Generali has nudged up its bid for Aviva’s Polish arm, valuing the business at almost 2.5 billion euros ($3 billion), in a last-ditch effort to prevail over Dutch insurer NN, two sources...
New York Proposes Guidance for Insurers on Financial Risks of Climate Change
Mar 25 2021 // The New York State Department of Financial Services (DFS) has issued proposed guidance for regulated insurers on managing the financial risks of climate change. The proposed guidance comes after a circular letter was...
Insurers of Container Ship Aground in Suez Canal Face Millions in Claims
Mar 25 2021 // LONDON – The owner and insurers of one of the world’s largest container ships stuck in the Suez Canal face claims totalling millions of dollars even if the ship is refloated quickly, industry sources said on...
Washington Commissioner Asking Insurers to Craft Consent Policies with Tribes
Mar 24 2021 // Washington Insurance Commissioner Mike Kreidler is urging the insurance industry in his state to work with Native Americans on adopting policies of consent on environmental projects that affect Tribal nations. According to...
Insurer CNA Reports It Has Been Hit by ‘Sophisticated’ Cyber Attack
Mar 24 2021 // Commercial lines insurer CNA reported that it has sustained a “sophisticated cybersecurity attack” that caused a network disruption and impacted certain CNA systems, including corporate email. Upon learning of...
Texas Windstorm Insurer Plans for $4B in Funding for Hurricane Season
Mar 24 2021 // Texas’ wind and hail insurer of last resort for properties in the state’s coastal counties has determined it needs $4.03 billion in funding to prepare for this year’s hurricane season. The board of...
Steinhoff International’s Insurers Agree to Pay $93 Million for Directors’ Liability Claims
Mar 23 2021 // Most of the insurers that provided Steinhoff International Holdings NV with director-liability policies have agreed to pay as much as 78.1 million euros ($93 million) toward legal settlements resulting from a 2017...
Insurer Tokio Marine Expects No Material Impact on 2021 Results from Greensill Collapse
Mar 23 2021 // TOKYO – Japanese insurer Tokio Marine Holdings Inc said on Tuesday it currently expects no material impact on its results for the fiscal year starting next month as a result of its exposure to the fallout of Greensill...
The Inflation Specter Looms for Property/Casualty Insurers
Mar 23 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
North Carolina Insurers Request Increases on Mobile Home Policy Rates
Mar 23 2021 // The North Carolina Rate Bureau has filed a request with the North Carolina Department of Insurance to increase insurance rates for mobile home policies. The NCRB, which represents insurance companies and is not a part of...
Colorado Workers’ Comp Carrier Distributing Dividends to 53K Companies
Mar 22 2021 // Pinnacol Assurance in Colorado is distributing general dividend checks to its customers totaling $50 million This is the sixth straight year the workers’ compensation carrier has distributed dividends. Nearly 53,000...
Lloyd’s Insurer AEGIS London Moves to New Office
Mar 22 2021 // Top quartile Lloyd’s Syndicate 1225, managed by AEGIS Managing Agency Ltd. (AEGIS London), is moving to a new office to accommodate its growing number of employees. The office, which will open fully once COVID...
