Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Top African Insurer Sanlam Refocuses on Home Market After 2018 Acquisition Misfires
Oct 23 2020 // Paul Hanratty, the new chief executive officer of Sanlam Ltd., is refocusing on the South African insurer’s home market and plugging holes from its largest-ever acquisition to squeeze higher returns out of its...
AM Best’s Estimates for U.S. Insurers’ Asbestos & Environmental Losses Unchanged
Oct 22 2020 // AM Best said its estimates of $100 billion in asbestos losses and $46 billion in environmental losses for the U.S. property/casualty industry remain unchanged as of year-end 2019. In a report, AM Best notes that A&E...
Talanx Acquires Italian Non-Life Insurer Amissima
Oct 22 2020 // The Talanx Group, the Hanover, Germany-based insurance group, announced it is expanding its business in Italy by making a bolt-on acquisition, via its Italian subsidiary. HDI Assicurazioni, a subsidiary of HDI...
Insurers Drop Appeal Against UK Court Ruling on 3 COVID Business Interruption Policies
Oct 22 2020 // Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims from holders of three business interruption insurance policies who have been pushed to the brink of collapse...
Applied Underwriters Sues California Over ‘Bad Faith’ Insurer Conservatorship Plan
Oct 21 2020 // Workers’ compensation specialist Applied Underwriters is suing California Insurance Department officials to halt a state plan its says would force its workers’ compensation partner California Insurance Co....
Startup Personal Lines Insurer Root Looking to Raise $604 Million in IPO
Oct 20 2020 // Automobile insurance startup Root Inc. said on Tuesday it plans to raise as much as $604.1 million in its initial public offering on the Nasdaq, the latest in a line of insurers looking to tap the current boom in U.S....
California Pledges to Protect Homeowners from Insurer Withdrawals Due to Wildfires
Oct 19 2020 // California’s insurance commissioner on Monday pledged to step up efforts to protect the state’s residents from wildfires and address a pullback of private insurers from the state’s riskiest...
Oregon Issues Wildfire Emergency Order and Bulletin for Insurers
Oct 19 2020 // The Oregon Department of Consumer and Business Services’ Division of Financial Regulation has issued a new wildfire emergency order. The order took effect after the current emergency order expired on Oct. 18. The...
U.S. Treasury Warns Cyber Liability Insurers Against Paying Ransomware Demands
Oct 19 2020 // The U.S. Treasury Department is warning that individuals or businesses that help facilitate ransomware payments may be violating anti-money laundering and sanctions regulations. The warnings came in a pair of advisories,...
Replacement Cost and the 180-Day Limitation Myth
Oct 19 2020 // What’s the best way to launch this article? Don’t know if I should say I’m itching for a fight or if it’s better to say insurance carriers are misinterpreting coverage forms and I am trying to stop...
How Many Screwdrivers Do You Need?
Oct 19 2020 // If you do not do much home or auto maintenance or build furniture, or in general, you just don’t do much with hand tools for any reason, then you probably only need two screwdrivers — a Phillips #2 and a...
10 Things to Know About Habitational Properties
Oct 19 2020 // After years of losses in the multifamily habitational market, insurers have become far more cautious for both property and casualty coverages, cutting back capacity or even leaving the market altogether. Rates and...
California Commissioner Asks Insurers to Cover Wildfire Losses Sans Home Inventory
Oct 19 2020 // California Insurance Commissioner Ricardo Lara is asking insurers to help wildfire survivors by providing up to 100% of personal property coverage limits without a detailed inventory to those who suffered a total loss of...
Should Upcoming California Commissioner’s Hearing on Wildfires Concern Insurers?
Oct 16 2020 // Insurance Commissioner Ricardo Lara will convene a “virtual investigatory hearing” on Monday to initiate a series of regulatory actions that will protect residents from the increasing risk of wildfires. Several...
Texas Windstorm Insurer: Check, Money Order Payment Process Changes Start Oct. 21
Oct 16 2020 // The Texas Windstorm Insurance Association (TWIA) has reminded agents that it will be enhancing its current payment processes and adding new online payment options for policyholders. This web post is about changes to how...
Factbox: Insurers and Banks that Have Shunned Canada’s Oil Sands
Oct 15 2020 // Canada is betting that efforts to incrementally reduce greenhouse gas emissions from its oil sands deposits will win back investors, banks and insurers who in recent years have shunned the carbon-heavy resource for...
Weighing Effects of Treasury’s Ransomware Pay Warnings on Cyber Victims and Insurers
Oct 15 2020 // Recent warnings from the U.S. Treasury about paying ransomware demands are unlikely to substantially change how cyber insurers cover or handle such situations, according to experts. However, the advisories are likely to up...
New Guy Carpenter Unit Serves Carriers, MGAs in Program Business Market
Oct 14 2020 // Global reinsurance broker Guy Carpenter & Co. has started a new dedicated unit to provide services to insurance carriers and managing general agencies (MGAs) operating in the program business market. The new unit, GC...
Insurers Remain Unfazed by Risks of Clinical Trials for COVID-19 Vaccine
Oct 12 2020 // The world is racing towards a vaccine in record time, stirring public concerns about safety to the extent that nine leading developers have felt compelled to issue a pledge to uphold scientific standards and testing...
U.S. Olympics Sues Insurers Over Stalled Nassar Sex Abuse Settlement
Oct 11 2020 // The United States Olympic and Paralympic Committee (USOPC) said on Friday it has filed a lawsuit against its insurance providers for failing to fulfill obligations in reaching a settlement with survivors of the Larry...
