Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Mega IPO Planned for India’s Biggest Insurer
Jul 14 2021 // India approved the sale of shares in state-run insurer Life Insurance Corp. of India, a key step in moving ahead with the mega-listing. The cabinet committee on economic affairs cleared the initial public offering...
Louisiana Reminds Insurers of Obligations in Commercial Policy Renewals
Jul 12 2021 // Louisiana insurance regulators have issued a new advisory letter reminding authorized property/casualty insurers writing in the state about the information they must provide in writing when they issue a renewal notice to...
Tri-State Consumer Insurance Company to Pay $500K for Compliance Failures
Jul 12 2021 // Tri-State Consumer Insurance Company will pay a $500,000 penalty to New York state for multiple violations of New York law. A New York State Department of Financial Services (DFS) investigation uncovered that Tri-State...
Eight Leading Insurers and Reinsurers Launch Net-Zero Climate Alliance
Jul 12 2021 // Eight of the world’s leading insurance and reinsurance companies on Sunday launched an alliance to help speed up a transition to a net zero emissions economy. The companies, which include Europe’s top three...
AM Best Assigns Credit Ratings to Spinnaker Specialty Insurance Company
Jul 9 2021 // AM Best has assigned a financial strength rating of A- (excellent) and a long-term issuer credit rating of “a-” (excellent) to Spinnaker Specialty Insurance Company headquartered in Bedminster, New Jersey. The...
California Insurance Company Pressing for its ‘Day in Court’
Jul 8 2021 // U.S. District Court Judge William B. Shubb granted the motion by the California Department of Insurance to dismiss the lawsuit filed by California Insurance Co. against the CDI. Shubb acted in a manner consistent with his...
Opinion: New Missouri Legislation Protects Insurers from Unreasonable Arbitration Awards and Findings
Jul 8 2021 // Missouri recently enacted legislation that prohibits a claimant, tortfeasor, or any other party from using an arbitration award against any liability insurer that did not agree to the arbitration. The new legislation also...
Washington Commissioner Wants Auto Claims, Rebate Data from Insurers
Jul 7 2021 // Washington Insurance Commissioner Mike Kreidler issued a data call of 124 auto insurance companies for recent rebates given to policyholders during the COVID-19 pandemic. Kreidler is requesting claims data for private...
Leading by Example: How Insurers Can Manage Cyber Risk Within Their Own Operations
Jul 7 2021 // Powered by InsuranceJournal.tv Insurers often advise clients on cyber resilience, however, many in the industry overlook their own risks or struggle to take their own advice to insureds, according to guests on this episode...
Louisiana Orders Insurer to Halt Non-Renewing Homeowners Policies after 2020 Hurricane Season
Jul 6 2021 // Louisiana Insurance Commissioner Jim Donelon has ordered GeoVera Specialty Insurance Co. to stop non-renewing Louisiana homeowners policies in violation of state law. In a cease and desist order issued last week, Donelon...
Michigan Reminds Insurers: ‘Zero-Dollar Claim’ Is Not a Loss
Jul 5 2021 // Michigan insurance regulators in a June 15 bulletin reminded property/casualty insurance companies that relying on a “zero-dollar claim” in their insureds’ loss history is not allowed. In Bulletin...
Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers
Jul 5 2021 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2020 data for property/casualty...
Grim California Wildfire Outlook Has Insurers Forking Over Big Bucks for Modeling
Jul 5 2021 // Severe drought and searing temperatures are not the only proof that Californians should be worried about wildfires this year. A glaring piece of evidence that there’s ample cause for concern is this: those who will...
P/C Insurers Defend Ransomware Reimbursements in New Cyber Principles
Jul 2 2021 // The nation’s largest property/casualty insurance organization is defending ransom payment reimbursements by insurers in a new set of principles stressing that the insurance industry wants to partner with government...
Insurers’ Own Infrastructure Could Be Next Targets of Cyber Criminals
Jul 2 2021 // As “the next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert. With “a lack of controls at [an] insurer, [you] could have...
Governor Signs 4 Bills Impacting Texas Windstorm Insurer
Jul 2 2021 // Numerous measures relating to the Texas Windstorm Insurance Association were filed in the Texas Legislature in 2021 and four made it to Gov. Greg Abbott’s desk. One, House Bill 769, has only two provisions. Authored...
Consumer Report Claims Insurers Overcharged California Motorists $5.5B During First Year of Pandemic
Jun 29 2021 // Most California insurance companies continued to charge pre-pandemic auto insurance rates despite a vast majority of Californians driving far less last year, according to an analysis by Consumer Watchdog on Tuesday. The...
California Workers’ Comp Insurer Losses and Expenses $12B for 2020
Jun 29 2021 // The Workers’ Compensation Insurance Rating Bureau of California has released its latest report on workers’ comp losses and expenses for 2020. Key findings in the report, 2020 California Workers’...
French Mutual Insurer Covéa Eyes Purchase of AXA XL’s Reinsurance Business: Reports
Jun 28 2021 // Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in a deal that could be valued at €5 billion, according to press reports. The news story, which originally...
Dutch Insurer NN Group Offers to Buy Part of MetLife’s European Businesses
Jun 28 2021 // NN Group NV offered to acquire part of MetLife Inc.’s businesses in Europe, saying the move is in line with its strategy to consolidate leading positions in attractive growth markets. The Dutch insurer said in a...
