Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Lockton Re: Hypothetical Cyber Event Offers Carriers an Opportunity to Review Risks
Apr 26 2024 // A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a report released by Lockton Re. The report, “A Kaleidoscope of Possibilities:...
EU Should Revisit Bank and Insurer Capital Rules: French President Macron
Apr 26 2024 // French President Emmanuel Macron called on Thursday for a revision of how Europe applies minimum capital rules to banks and insurers so that they are not too risk-averse and Europe is put at an economic disadvantage. The...
Thames Water Debt Insurer Taps Advisers as Crisis Deepens
Apr 26 2024 // A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar...
Russia Reinsurer Backs Domestic Carriers to Get Indian Marine Insurance Permits
Apr 26 2024 // Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to...
Global Insurers’ Climate Alliance Relaunches After Member Exodus
Apr 25 2024 // A global insurance coalition intended to help curb the sector’s greenhouse gas emissions has relaunched with a new name and weaker membership requirements in response to companies fleeing over allegations of...
Viewpoint: Insurers Face Added Role in Curbing Workplace Violence With California Law
Apr 25 2024 // New legislation aimed at reducing workplace violence in California vastly increases employers’ responsibilities and hands workers’ compensation insurers an unprecedented oversight role that is likely to trigger...
Why New York’s Attorney General Objects to Trump’s Bond Insurer
Apr 22 2024 // New York’s attorney general has urged the state judge overseeing the state’s civil fraud case against Donald Trump to reject the former president’s $175 million appeal bond. Attorney General Letitia James...
GeoVera Combining Carriers with SafePort to Create GeoVera Nova Holdings
Apr 22 2024 // GeoVera Insurance Holdings entered into a definitive agreement to sell its insurance carriers and managing general agent businesses. Upon completion of the deals, a newly formed entity, GeoVera Nova Holdings Inc., will...
Auto Insurer’s $10M Fraud Claims Against Doctors Are Subject to Arbitration, Court Rules
Apr 19 2024 // A federal appeals court has sided with three chiropractors in ruling that claims under New Jersey’s personal injury protection statute concerning insurance fraud are subject to arbitration. GEICO has lost its bid to...
California Sees Two More Property Insurers Withdraw From Market
Apr 18 2024 // California’s already strained property insurance market is facing a new challenge as two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., plan to withdraw from the wildfire-prone...
Update: Nord Stream Insurers Deny Policies Covered War Risks in UK Lawsuit
Apr 18 2024 // Nord Stream’s insurers have denied that their policies provide cover for gas pipelines damaged by blasts in 2022 because the damage was caused by war, in their written defense to a lawsuit filed at London’s...
Britain’s Insurers Under Pressure Over Spike in Car Insurance Premiums
Apr 18 2024 // The rising cost of car insurance has triggered a barrage of complaints in the cost of living crisis, Britain’s financial watchdog told lawmakers on Wednesday, as the sector insisted that prices remain at 2018 levels...
Maryland Asks Insurers to Accommodate Those Hurt by Baltimore Bridge Collapse
Apr 17 2024 // Maryland’s insurance regulator is asking insurance companies to do what they can to make sure that individuals and businesses hurt by the Baltimore bridge collapse tragedy do not lose coverage due to non-payment of...
Trump’s Bond Insurer Tells Judge Shortfall Is ‘Inconceivable’
Apr 17 2024 // Donald Trump submitted evidence that the insurer providing his $175 million appeal bond in New York’s civil fraud case is financially capable of paying up if his legal challenge fails, after the state attorney...
Fitch: U.S. Cyber Insurers Saw Strong Profits, Slowdown in Premium Growth in 2023
Apr 16 2024 // The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings...
Mission Possible: Top 3 Carrier Innovations in P&C to Restabilize Homeowners Insurance
Apr 16 2024 // This post is part of a series sponsored by AgentSync. As the property and casualty market struggles to find its equilibrium, carriers and reinsurers are retooling their approach to risk and the market. As a Floridian...
Markets/Coverages: Parametric Insurer FloodFlash Adds Business Interruption
Apr 15 2024 // Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle...
BNP Paribas to Acquire Fosun’s Stake in Belgian Insurer Ageas
Apr 15 2024 // BNP Paribas, the euro zone’s biggest bank, has agreed to buy a 9% stake in Ageas from China’s Fosun Group for about 730 million euros ($780 million), making it the biggest shareholder in the Belgian...
Insurer Bowhead Specialty’s IPO Filing Shows Profit More Than Doubled in 2023
Apr 15 2024 // Bowhead Specialty Holdings disclosed on Friday that its net profit more than doubled in 2023, as the insurance underwriting company made its IPO filing public amid a rebound in fresh U.S. listings. The U.S. initial public...
Materiality Matters: D&O Insurers Seek Clarity On SEC Disclosure Rules
Apr 15 2024 // The U.S. Securities and Exchange Commission adopted final rules almost a year ago in July 2023 requiring public companies to disclose both material cybersecurity incidents and material information regarding their...
