Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer Impact from Sally Expected to be Moderate; Losses Estimated at $1B to $3B
Oct 5 2020 // Insured losses from Hurricane Sally could reach as much as $3 billion, according to catastrophe modelers, but ratings agency Moody’s expects a moderate impact on property and casualty insurers and...
Judges Nix Consolidating COVID Business Interruption Suits Against Big Insurers
Oct 4 2020 // A panel of federal judges has decided against consolidation of hundreds of lawsuits seeking coverage for coronavirus-related business interruption claims against major national insurers Travelers, The Hartford, Cincinnati...
California Commissioner Asks Insurers to Cover Wildfire Losses Sans Home Inventory
Oct 2 2020 // California Insurance Commissioner Ricardo Lara is asking insurance companies help wildfire survivors by providing up to 100% of personal property coverage limits without a detailed inventory to those who suffered a total...
U.S. Treasury Warns Cyber Insurers Against Paying Ransomware Demands
Oct 1 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,...
White Mountains to Buy 72% Stake in Lloyd’s Insurer Ark for Growth in Hardening Market
Oct 1 2020 // White Mountains Insurance Group, Ltd. announced it has entered into a definitive agreement to invest fresh capital in and to acquire a majority interest in Ark Insurance Holdings Ltd., the parent company of Ark Syndicate...
County in Michigan Reaches $12.5M Deal with Insurer Over Sinkhole
Oct 1 2020 // A suburban Detroit, Mich., county has reached a $12.5 million settlement over a disastrous sinkhole that ruined three homes and temporarily displaced 20 families during the 2016 holiday season, officials said Tuesday. The...
UK COVID-19 Insurance Dispute Could Be Heading to Supreme Court as Talks Falter
Oct 1 2020 // Britain’s markets regulator said on Wednesday it had failed to strike a deal with major insurers over prompt payouts to small businesses battered by the coronavirus pandemic, dashing hopes that a Supreme Court appeal...
India Weighs Sale of 25% Stake in Nation’s Biggest Life Insurer
Sep 30 2020 // India is planning to seek cabinet’s approval to sell 25% stake in the nation’s largest life insurer, people with knowledge of the matter said, as Prime Minister Narendra Modi seeks resources to plug a widening...
Health Insurer Anthem Settles States’ Cyber Breach Probe for $40 Million
Sep 30 2020 // Anthem Inc. said on Wednesday it would pay $39.5 million as part of a settlement with U.S. states attorneys general following an investigation into a massive cyber-attack at the company in 2015. The second largest U.S....
Rourke Appointed as SVP, General Manager of The Church Insurance Companies
Sep 30 2020 // The Church Pension Group (CPG), a financial services organization that serves The Episcopal Church, has appointed Christopher R. Rourke as senior vice president and general manager of The Church Insurance Companies...
The State of Surplus Lines Insurance: Busy Solving Risk Puzzles in a Complex World
Sep 30 2020 // Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly...
Florida Attorney Behind Thousands of Insurer Lawsuits Violated 14 Bar Rules: Judge
Sep 30 2020 // Embattled Florida attorney Scot Strems, who, with his firm, has filed thousands of assignment of benefit and first party lawsuits against Florida property insurers over the last several years, has been found by a...
Agents Warned of ‘Creative’ Attorneys, Virus Lawsuits
Sep 30 2020 // Agents and brokers should be on alert that plaintiffs’ attorneys in COVID-19 related business interruption claims lawsuits may be eyeing them as more cases against insurance companies begin to fail and claimants...
Update: UK Regulator Files Expedited Appeal in Business Interruption Test Case
Sep 29 2020 // Britain’s financial regulator said on Tuesday it had filed for an expedited appeal in a business interruption test case against insurers, but was seeking an agreement by Wednesday to avoid the appeals process...
American Financial Group Agrees to Sell Run-Off Lloyd’s Insurer Neon to RiverStone
Sep 28 2020 // American Financial Group Inc. announced it has reached a definitive agreement to sell GAI Holding Bermuda and its subsidiaries, comprising the legal entities that own its Lloyd’s of London insurer, Neon, to...
Even Failed Claims Against Nurses Cost Insurers $20K, Liability Study Shows
Sep 28 2020 // Liability claims that involve nurses cost an average of $210,513 if a large indemnity payment is made, but even claims that are dropped, defeated or dismissed end up costing more than $20,000, according to a report...
Insurer Ping An Taps Rising Demand for Chinese Assets with Offshore Management Arm
Sep 28 2020 // Ping An Insurance (Group) Co., China’s largest insurer by market value, is tapping growing global demand for Chinese assets to expand its offshore asset management business as competition with foreign entrants...
Opinion: Missouri Appeals Court Ruling Shrinks Insurers’ Right to Intervene
Sep 28 2020 // The Western District of the Missouri Court of Appeals has again construed the effect of the 2017 amendments to Mo. Rev. Stat. § 537.065, which gave insurers a limited right to intervene and protect their interest when...
UK Insurer LV= Says Talks Continue with Number of Parties About Possible Merger
Sep 28 2020 // UK insurance company Liverpool Victoria said it remains in talks with a “number of parties” about a possible transaction after Sky News reported it was negotiating a merger with rival Royal London. The company...
Reinsurance Demand Rises, Along with Flight to Quality, Say Industry Experts
Sep 28 2020 // Not only has reinsurance buying increased, but there also has been a flight to quality reinsurers by ceding insurance companies, according to several reinsurers and brokers in recent webinars held in lieu of what would...
