Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
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...
