Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Union Mutual Insurance Company Names Keysar as President and CEO
Oct 9 2020 // The Board of Directors of Union Mutual Insurance Company voted unanimously last week to elect Lisa L. Keysar to the role of President and CEO. Keysar is the 15th person to assume the role and succeeds Michael Nobles, who...
Nigerian Insurance Market Faces Challenges to Realize Its Potential: AM Best
Oct 9 2020 // Nigeria’s insurance market has great potential given its position as Africa’s largest economy, its substantial oil and gas reserves and its young and growing population. Yet Nigeria’s insurance market has...
Newfront in California Adds Alliant’s Parker to Run Carrier Partnerships
Oct 9 2020 // Newfront Insurance in San Francisco, Calif., has named Natalie Parker head of carrier partnerships. Parker will oversee carrier relationships for Newfront, and join its executive team. She joins Newfront from Alliant...
Digital E&S Insurance Broker Pathpoint Makes Its Debut
Oct 8 2020 // Pathpoint, a new brokerage for excess and surplus lines, is billing itself as an all-digital wholesale brokerage built from the ground up. Pathpoint is licensed across the U.S. and is a coverholder at Lloyd’s of...
Top 10 Reasons P/C Insurers Run Afoul of Regulators’ Market Conduct Exams
Oct 8 2020 // Claims errors continue to be the most frequent reason that property/casualty insurers are cited by regulators when responding to market conduct complaints or during routine examinations, according to a report by Wolters...
Exiting Insurers, Premium Hikes Frustrate Canada’s Struggling Hospitality Industry
Oct 8 2020 // Canadian hospitality businesses, already reeling from the downturn sparked by the coronavirus pandemic, are facing yet another existential threat as insurance companies spike premiums or exit the space, citing losses and...
Bold Penguin Acquires RiskGenius in Commercial Insurance Technology Deal
Oct 6 2020 // Insurance technology firm Bold Penguin has acquired RiskGenius in a deal that the two commercial lines insurtechs said will help grow their reach more than they have been able to thus far on their own, Carrier Management...
An Insurance Lyft: CSAA Forms Rideshare Carrier; Allstate, Liberty Mutual Offer Coverage
Oct 6 2020 // A new carrier has joined the rideshare insurance market, offering coverage to Lyft drivers in 11 states. At the same time, ridesharing firm Lyft’s drivers now also have access to coverage from Allstate and Liberty...
