Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Stanford Ponzi Scheme Recovery Tops $1 Billion With Help From Insurers
Sep 21 2021 // A court-appointed receiver has recouped more than $1 billion for victims of Texas financier Allen Stanford’s Ponzi scheme, the largest by dollar amount other than Bernard Madoff’s fraud, the receiver’s...
Cover Whale Partners With E&S Insurer Everspan to Offer Commercial Trucking
Sep 20 2021 // Cover Whale Insurance Solutions Inc., a Rancho Santa Margarita, Calif.-based insurtech, is partnering with excess and surplus lines insurer Everspan Indemnity Insurance Co., to offer a commercial trucking insurance...
UK Insurers Cautiously Willing to Underwrite Fire Safety Risks for High-Rise Recladding Projects: Survey
Sep 20 2021 // Insurers have revealed a cautious willingness to underwrite fire safety risks on new projects to remove defective cladding from high rise buildings. Around two-thirds of respondents to a survey by the International...
Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P
Sep 20 2021 // Convex Group Ltd. announced the launch of a Luxembourg-based European insurance entity, Convex Europe SA (CES). Convex received regulatory approval on Sept. 15, 2021 from the Luxembourg regulator, the Commissariat aux...
Insurers Ordered to Pay Louisiana Policyholders’ Ida Evacuation Expenses
Sep 20 2021 // Louisiana’s top insurance regulator on Sept. 7 directed insurance companies pay policyholders’ Hurricane Ida evacuation expenses. Directive 218, issued by Insurance Commissioner Jim Donelon, requires insurers...
E&S Insurer Ategrity Raises $75M, Plans Further Expansion
Sep 16 2021 // Ategrity Specialty Insurance Co. sad it has completed a $75 million capital raise led by Sequentis Financial LLC to support its continued growth. Ategrity is a Scottsdale, Arizona-based specialty property/casualty...
P/C Mutual Insurers Continued to Grow Premiums in 2020 Despite Givebacks
Sep 15 2021 // U.S. P/C mutual insurance companies held their own in 2020 despite returning significant levels of premiums during the pandemic. In fact, net premiums written grew by 1.4 percent even with all the givebacks, according to a...
Canada Permits TC Energy to Keep Insurers Secret From Pipeline Activists
Sep 15 2021 // TC Energy Corp. is the latest Canadian pipeline company allowed to keep its insurers confidential as activist groups push firms to drop business with the fossil fuels industry. The Canada Energy Regulator ruled that the...
Insurers in Louisiana Could Be Fined for Refusal to Cover Ida Evacuation Expenses
Sep 14 2021 // Insurance companies could face fines or be suspended from doing business for refusing to comply with Louisiana Insurance Commissioner Jim Donelon’s order to cover the temporary living expenses of policyholders who...
New Jersey Regulator Asks Insurers to Work with Customers Affected by Ida
Sep 13 2021 // The New Jersey Department of Banking and Insurance (DOBI) issued a bulletin urging entities regulated by the department to work with and assist customers who have been adversely affected by Tropical Storm Ida. “New...
Insurers, Banks See London Remaining a Leading Financial Center
Sep 13 2021 // London will remain a leading global financial center despite uncertainty over regulation due to Brexit, Lloyds Bank’s annual sentiment survey of financial firms showed on Monday. Britain fully left the European...
Louisiana Orders Insurers to Pay Hurricane Ida Evacuation Expenses
Sep 9 2021 // Louisiana’s top insurance regulator on Sept. 7 directed insurance companies pay policyholders’ Hurricane Ida evacuation expenses as damaged infrastructure and dangerous living conditions in Southeast Louisiana...
Cognizant Expects Insurers to Cover Bulk of $95M Settlement with Shareholders
Sep 9 2021 // Cognizant Technology Solutions Corp. has reached a $95 million settlement to resolve a lawsuit accusing the information technology services company of defrauding shareholders by concealing bribes to officials in India. A...
South Africa’s State Insurer Sasria Looking for Bigger Bailout
Sep 8 2021 // CAPE TOWN — South Africa’s state-owned insurance company Sasria is in talks with National Treasury for a larger bailout than the 3.9 billion rand ($272 million) already promised, its managing director told a...
DFS Directs New York Insurers to Expedite Tropical Depression Ida-Related Claims
Sep 7 2021 // The New York State Department of Financial Services (DFS) has issued a circular letter to New York-regulated insurers to expedite Tropical Depression Ida-related insurance claims. On September 1, 2021, the remnants of...
Ida’s Hammering of Mid-Atlantic States May Have Insurers Reassessing Region
Sep 7 2021 // California and Florida have long been seen as risky areas for insurers because of earthquakes, wildfires and storms. In the wake of hurricanes Ida and Henri, parts of the Mid-Atlantic region may be added to the...
Large Insurers Embrace Digital Exchanges, Selling Their Own and Other Policies
Sep 7 2021 // Major U.S. insurers are joining new digital exchanges to sell not only their own policies but also those of rivals, a fresh twist in an industry known for fierce competition. The powerful new platforms, including Semsee,...
Insurers Urged to Pay Prohibited Use Coverage to Ida-Displaced Louisiana Policyholders
Sep 7 2021 // As tens of thousands of Louisianians are experiencing hardship after Hurricane Ida in the face of evacuations, physical damage to their homes and businesses, power outages, a lack of drinking water and localized gas...
With Federal Legalization Expected, Cannabis Insurers Get Ready
Sep 6 2021 // Insurers are quietly gearing up for a potential ten-fold increase in sales to the booming $17.6 billion-a-year cannabis industry as Congress inches closer to legalizing pot at the federal level. While 36 U.S. states and...
White House, Big Tech, Insurers Vow to ‘Raise the Bar’ on Cybersecurity
Sep 6 2021 // The U.S. government in late August said it would work with the industry to hammer out new guidelines to improve the security of the technology supply chain, as President Joe Biden appealed to private sector executives to...
