Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Top 20 Cyber Insurers in U.S. Including Loss Ratios: NAIC
Nov 9 2021 // The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance Commissioners...
Canadian P/C Insurer Definity Seeks to Raise $1 Billion in IPO
Nov 9 2021 // Definity Financial Corp., the property and casualty insurer formerly known as Economical Mutual Insurance Co., is seeking to raise C$1.25 billion ($1 billion) in an initial public offering, following in the footsteps of...
2020 Louisiana Hurricane Season Costs Insurers At Least $10.6 Billion
Nov 9 2021 // Insurance companies are on track to pay at least $10.6 billion to cover Louisiana claims for damage caused by Hurricanes Laura, Delta and Zeta, according to Insurance Commissioner Jim Donelon. Donelon released the latest...
New York Governor Signs Bill Restricting Home Insurers Over Dog Breeds
Nov 8 2021 // New York Governor Kathy Hochul last month signed a legislative package relating to animal welfare. The package includes legislation S.4254/A.4075, which prohibits insurers from refusing to issue or renew, cancel, or charge...
Florida Appeals Court: Delayed Claim Document Doesn’t Hurt Insurer
Nov 5 2021 // A week after a federal court found that waiting two years to file a property claim is too long, a state court reached a different conclusion: Failing to timely file supporting documents on a claim does not necessarily harm...
Canada Insurers, Banks Can Resume Dividend Hikes as Regulator Lifts COVID-Era Curbs
Nov 5 2021 // TORONTO – Canadian banks and insurers can resume dividend increases and share buybacks and raise executive compensation, the country’s financial regulator said on Thursday, lifting a moratorium it imposed in March...
Insurers Deny Surfside Claims, Sue Engineering Firm; Firm Counter-sues
Nov 4 2021 // Dueling lawsuits have been added to the growing amount of litigation arising from the collapse of the Champlain Towers condominium building in Surfside, Florida, but the latest suits could have a significant impact on...
EU Regulator Says Insurers Could Face Climate Stress Tests as Soon as 2023
Nov 4 2021 // LONDON – Insurers could face European climate stress tests as soon as 2023, the head of the EU’s insurance regulator said at the Reuters Future of Insurance Europe conference on Thursday. The insurance industry...
Hong Kong Insurer FWD Adds Warnings About China Risks in SEC Filings for IPO
Nov 3 2021 // Hong Kong-based insurer FWD Group has told U.S. regulators it cannot guarantee that Beijing would not seek to “intervene or influence” its operations, adding to its list of risk factors as it tries to push...
Finnish Insurer Sampo Sees 30% Jump in Profit During Q3
Nov 3 2021 // HELSINKI – Finnish insurer Sampo on Wednesday beat expectations with a 30% jump in quarterly core earnings, aided by a strong performance from its main subsidiary If and gains from selling a stake in Finnish Nordea bank...
Insurer to Pay $625K to Settle Deceptive Practices Claims in Massachusetts
Nov 3 2021 // An insurance company has agreed to pay $625,000 to settle allegations that it used deceptive and illegal practices to sell health insurance plans to Massachusetts residents, the state attorney general’s office said...
Florida Insurers Take Heart From Appeals Court Rejection of Large Attorney Fee
Nov 3 2021 // Few things enrage insurers more than what appear to be exorbitant attorney fees, and Florida may be ground-zero on that issue, thanks in part to the state’s fee-multiplier statute. So, industry advocates were...
Missouri Judge Rules in Favor of Insurer in COVID-19 Business-Interruption Claim
Nov 3 2021 // A Kansas City jury decided in favor of the insurer in the nation’s first jury trail of a lawsuit that sought coverage for business-interruption losses caused by the coronavirus. The jury for the U.S. District Court...
Proposed Mass. Bill Limits Auto Claims Investigations, Shifts Payments to Insurers
Nov 2 2021 // A proposed bill was heard last month in the Massachusetts legislature that aims to place a time limit on auto insurance claims investigations and would make investigating insurers responsible for premium payments until the...
Where U.S. Insurers Are in Integrating Environmental, Social, Governance Issues
Nov 2 2021 // U.S. insurers are increasingly listening to demands from stakeholders that they use social, environmental and governance factors in their decision-making. According to an AM Best survey, 6 in 10 companies are aware of...
Insurer Hiscox Sets Aside $150M for Hurricane Ida, European Flood Losses
Nov 2 2021 // Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising...
Court Suspends Attorney For Failing to Disclose Work for Insurance Company
Nov 2 2021 // The Florida Supreme Court has suspended an attorney for 45 days after he failed to disclose his insurance connection to the widow of a man who died in a scuba diving accident. Craig Jenni, of Boca Raton, will also be on...
Gate Causes Accident But Insurer Off the Hook, Court Rules
Nov 2 2021 // The family of a driver who was killed when a sawmill’s gate swung into the road is not due $900,000 in damages from an insurance company, due to a policy exclusion for auto accidents, the U.S. 5th Circuit Court of...
Generali Acquires Italy Insurer Cattolica to Boost Domestic Market Leadership
Nov 1 2021 // Italy’s top insurer Generali sealed its 1.17 billion euro ($1.36 billion) takeover of smaller rival Cattolica on Friday in a move aimed at cementing its domestic market leadership. On the last day of Generali’s...
Top Reasons Insurers Decline Cyber Insurance
Nov 1 2021 // Insurers make money by assuming the business risks of their customers for a fee. They make a profit only if the estimated aggregate cost of the risk for all their customers is less than the aggregate fees for assuming the...
