Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Hollywood’s Insurer Braces for Claims Due to COVID-Related Movie, TV Shutdowns
Oct 6 2020 // Allianz SE, Europe’s largest insurer, is bracing for a flood of claims after movie and television studios were forced to curtail production during lockdown. A unit of Allianz, which says it’s the largest...
South Carolina Passes Flood Insurance Law to Boost Private Market
Oct 6 2020 // The state of South Carolina is aiming to foster new flood insurance coverage options through the enactment of the South Carolina Private Flood Insurance Act. South Carolina Gov. Henry McMaster signed the legislation,...
Personal Lines Insurtech Root Files IPO Proposal with SEC
Oct 6 2020 // Root, Inc., the parent company of Root Insurance Co., has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be...
Pandemic Economic Uncertainty Could See Insurers Buying, Partnering with Insurtechs
Oct 5 2020 // Insurance carriers could increasingly target insurtechs for acquisition and partnerships in the coming months due to pandemic-related economic uncertainty, according to a report. “As insurers move toward late 2020...
Trean Group Completes Acquisition of South Carolina-Based 7710 Insurance Co.
Oct 5 2020 // The wholly-owned subsidiary of Trean Insurance Group, Benchmark Holding Co., Inc., has completed the acquisition of South Carolina-based 7710 Insurance Company, as well as its associated program manager and agency. 7710...
Insurers Gain Early Wins in COVID-19 Business Interruption Lawsuits
Oct 5 2020 // Insurers have succeeded in dismissing COVID-19 business-interruption lawsuits in 17 out of 23 cases heard so far, with a growing number of judges finding that some tangible alteration of a property is required to trigger...
UK Insurer LV= in Exclusive Talks with Bain Capital About Possible Deal
Oct 5 2020 // UK insurance company Liverpool Victoria said it’s in exclusive talks with Bain Capital LP over a potential deal. The company, known as LV=, began a strategic review in June that included the possibility of a full or...
Hotel Sector Sees Tough Times, High Rates in Insurance Market
Oct 5 2020 // The hotel industry was one of the first industries affected when COVID-19 forced the travel industry into standstill, and many predict it will also be one of the last industries to recover. Even as travel has ticked up...
COVID-19: No One Avoids the Impact
Oct 5 2020 // Workers’ Compensation Premiums Down 8% in First Half of 2020 Prior to discussing the results of our review of aggregate workers’ compensation insurance written in the U.S. during the first half of 2020 versus...
D&O Pressured But Insurers Big Enough to Handle: Fitch
Oct 5 2020 // As claims related to the economic fallout from the pandemic emerge in the U.S. directors and officers (D&O) liability insurance segment, insurers can expect the claims to take several years to pay out and underwriting...
P/C Mutual Insurers Improved Underwriting in 2019: AM Best
Oct 5 2020 // Top 10 Hold 72% of Market: AM Best Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting...
5th Circuit Backs Plaintiffs in Insurer Interest Penalty Case
Oct 5 2020 // A Houston plaintiff’s attorney defeated State Farm Lloyd’s for the fourth time on the same issue, this time coming away with a federal appellate court ruling that policyholders don’t have to prove that...
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...
