Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Washington Commissioner Wants Insurers to Modify Claims Process for Wildfire Victims
Mar 6 2024 // Washington Insurance Commissioner Mike Kreidler on Wednesday sent a letter to insurers urging them to consider loosening personal property claim filing requirements for victims of last summer’s Spokane County...
Bulk Carrier Hit by Missile off Aden, With Fire Onboard: Ship’s Owner
Mar 6 2024 // The Barbados-flagged True Confidence bulk carrier was hit by a missile on Wednesday 50 nautical miles southwest of Yemen’s Aden, with a fire continuing onboard, the vessel’s owner and operator said. “The...
People Moves: Lerant Joins South & Western; CompSource Mutual Insurance Company Names Ingram CEO; BenefitMall Appoints Long Retention Sales Manager for Georgia and Florida
Mar 6 2024 // Lerant Joins South & Western as Business Development Specialist Lou Lerant recently joined South & Western Insurance as a business development specialist. South & Western Insurance, based in Addison, Texas, is...
Insurer CEO Warns Limits on Cancellations Will Deter Carriers From Florida Market
Mar 5 2024 // The head of two property insurance companies set to enter the Florida market this year is warning state lawmakers that bills that would limit some policy cancellations and nonrenewals after storm damage could do more harm...
UK Insurer Aviva to Enter Lloyd’s Market via Acquisition of Probitas for £242M
Mar 4 2024 // Aviva plc announced it will acquire 100% of Probitas Holdings (Bermuda) Ltd., the parent company of the Probitas Group, for a minimum fixed consideration of £242 million (US$306.2 million). The transaction includes...
War Insurers Shrug Off Rubymar Sinking in Red Sea, Rates Stable
Mar 4 2024 // The cost of war risk insurance through the Red Sea remained stable on Monday despite the sinking of the Rubymar cargo ship as underwriters had already factored in the casualty after it was first hit by a missile last...
Spike in Recent Ratings Downgrades Shows Challenges for US Insurers
Mar 4 2024 // Negative ratings actions and financial challenges are forcing carriers to explore reinsurance options offering needed capital, according to a report released last month by Gallagher Re’s Strategic and Financial...
Supreme Court Opinion on Maritime Law Solidifies Insurer’s Choice-of-Law Clause
Mar 1 2024 // A dispute between an insurer and a yacht owner went all the way to the U.S. Supreme Court with a decision recently—the first of its kind on marine insurance in about 70 years—to clarify federal maritime law and state...
Insurers Offer Tips for Residents to Navigate Texas Wildfires
Feb 29 2024 // The Smokehouse Creek Fire has grown to more than 1 million acres in the Texas Panhandle, making it the second-largest wildfire in state history. The fire is 3% contained as of Thursday morning according to officials with...
Profit Recovery Will Vary Among U.S. Personal Auto Carriers: Fitch
Feb 29 2024 // Fitch Ratings said it expects underwriting results for U.S. personal auto insurer to continue to improve this year but the pace to profitability will vary. Auto insurers Progressive and GEICO were the only two of 10...
Banks, Insurers Targeted as Climate Group Seeks EU Review of Deforestation Rule
Feb 28 2024 // Climate activists are putting pressure on the European Union to reconsider its decision to exclude banks from a landmark deforestation rule, in a move designed to preempt an official review of the regulation next...
Fitch: Homeowners Insurers’ Results to Improve In 2024
Feb 23 2024 // U.S. homeowners’ insurance is in position to improve in 2024, according Fitch Ratings. The rating agency said premium revenue growth, tied to recent substantial price increases and more diligent underwriting to...
Sotheby’s, Russians, Theft: Insurer Must Defend in High-End Miami Realty Suit
Feb 23 2024 // In the glittering world of high-end south Florida real estate, One Sotheby’s International Realty is known as one of the biggest players in the market. This month, the firm is handling the rental of NBA superstar...
Insurers’ LNG Support at Odds With Their Climate Ambition, Report Says
Feb 21 2024 // The underwriting of liquefied natural gas (LNG) capacity in the US by major global insurers is at odds with their climate ambition, according to a report from activist groups including Public Citizen and Rainforest Action...
Markets/Coverages: Connecticut Opens Door to Real Estate Insurer Honeycomb
Feb 20 2024 // The Connecticut Insurance Department has given Honeycomb Insurance approval to write policies statewide. Honeycomb offers customizable insurance coverage for apartment complexes, condominium associations, and single-family...
Uber Sues Drivers’ Insurer Alleging Its Claims Practices Have Fueled Tort Litigation
Feb 20 2024 // Uber Technologies last Friday sued its drivers’ auto insurer for defense and indemnification regarding multiple lawsuits that are seeking to hold Uber vicariously liable for accidents involving some of its drivers in...
More P/C Carriers With Less Surplus: Aon Ward Analysis
Feb 19 2024 // As we continue into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a December 2023...
New York’s High Court Backs Insurer’s Denial of COVID-19 Business Interruption Claim
Feb 16 2024 // New York state’s highest court has affirmed that there must be direct physical loss or damage, not just presence of a virus, to trigger coverage under a commercial property policy for COVID-19 business interruption...
Georgia Senate Approves End to Direct-Action Suits vs. Truck Insurers
Feb 15 2024 // ATLANTA (AP) — Georgia senators are moving to limit the ability of people to sue insurance companies directly in lawsuits over trucking accidents. The Senate voted 46-2 on Tuesday to pass Senate Bill 426, sending it the...
Banks, Insurers Ordered to Report Sexism and Bullying Cases in Britain
Feb 15 2024 // Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and...
