Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
UK Expands Sanctions Against Russian Oil Fleet and Its Insurers
Nov 25 2024 // The UK government expanded its sanctions against Russia’s energy industry on Monday, blacklisting dozens of tankers responsible for moving the nation’s oil as well as two insurers involved in the trade. The...
Florida Regulators Demand Data From Weiss Ratings After Recent Reports on Insurers
Nov 22 2024 // Weiss Ratings, a Palm Beach Gardens financial ratings firm, sparked some outrage from the Florida insurance industry in recent weeks after it released reports contending that some of Florida’s largest property...
Ninety One Joins Rush of Asset Managers Chasing Insurer Deals
Nov 21 2024 // South African asset manager Ninety One Ltd. has agreed to sell a stake to Sanlam Ltd., joining a raft of investment firms that have been tapping the deep pockets of insurers through such deals. Sanlam, the country’s...
Insurer, Contractors Allege Staged Injury Claims Scheme Under New York Scaffold Law
Nov 19 2024 // A construction industry captive insurer along with three construction contractors have filed a lawsuit alleging a massive New York fraud scheme involving staged workplace accidents and bogus workers’ compensation and...
The Power of BPO for Carriers, MGAs, and Wholesalers: A Comprehensive Solution with Selectsys BPO
Nov 18 2024 // This post is part of a series sponsored by Selectsys. In the fast-paced and ever-evolving insurance landscape, carriers, MGAs, and wholesalers are constantly seeking ways to improve efficiency, reduce costs, and streamline...
Rating Firm Says Florida Insurers Will Weather the Storms. Cat Fund Can Handle Payouts to Insurers
Nov 18 2024 // Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a...
Insurer Not Liable if Bank Improperly Cashes Insurance Check, Appeals Court Says
Nov 18 2024 // Insurance carriers are not responsible if a bank improperly cashes a check made out to two insureds and gives the proceeds to only one of them, a federal appeals court decided. The U.S. 11th Circuit Court of Appeals on...
Allstate Insurers Sue Hyundai, Kia to Pay for Claims From Defective Cars
Nov 14 2024 // A group of subsidiaries of Allstate have filed a subrogation suit against Hyundai and Kia to get back costs paid to insureds for damages when their cars suddenly erupted in flames. According to the lawsuit, now in U.S....
Markets/Coverages: Aviva’s Lloyd’s Insurer Probitas Launches 5 New Lines of Business
Nov 13 2024 // Aviva’s Lloyd’s business Probitas announced it began to quote for five new classes of business – marine (cargo, fine art & specie, and ports & terminals), construction, renewable energy,...
Cevian’s Baloise Move Triggers European Insurers to Study Deal
Nov 13 2024 // Baloise Holding AG has become one of the most-discussed takeover candidates in the European financial sector, after agitation by an activist investor triggered top industry players to take fresh looks at the Swiss...
UK Motor Insurer Direct Line to Cut 550 Jobs in Turnaround Bid
Nov 12 2024 // Direct Line Insurance Group Plc, the UK insurer that rejected a takeover attempt by Belgian rival Ageas SA earlier this year, is set to cut about 550 jobs as part of a turnaround plan aimed at saving £50 million ($64...
Malaysia’s Top Bank Is Said to Weigh Options for Insurer Etiqa
Nov 12 2024 // Malayan Banking Bhd. is considering options including buying out Ageas SA’s minority stake in Etiqa as Malaysia’s biggest lender seeks to boost the value of the Southeast Asian insurer, according to people with...
Spain’s Devastating Floods Will Cost Insurers Over $3.8 Billion
Nov 8 2024 // The floods that devastated the Spanish region of Valencia at the end of last month are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s said citing official...
CITA Insurance Services and Ascot Insurance Company announce nationwide real estate agents and brokers errors & omissions program
Nov 7 2024 // ORANGE, CA, November 6, 2024 – CITA Insurance Services and Ascot Insurance Company (Ascot) have partnered to deliver a new real estate agents and brokers error & omissions (E&O) program nationwide. This admitted...
Spain’s Floods to Cost Insurers More Than €1 Billion: Morningstar DBRS
Nov 4 2024 // Southern Spain’s devastating floods are expected to cost insurers well above €1 billion ($1.1 billion), given the significant damage to people, properties, vehicles and businesses as well as to the region’s...
NC Insurers Warned About Using Flood Denials in Underwriting
Nov 4 2024 // North Carolina Insurance Commissioner Mike Causey is reminding property insurers to refrain from raising homeowners’ premiums just because an insured filed a claim or inquiry in order to qualify for flood insurance...
KBRA Says Florida Insurers Will Weather the Storms; Cat Fund Can Handle Payouts
Nov 1 2024 // Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a...
Bain-Backed Motor Insurer Esure Draws Interest from Aviva, Allianz
Nov 1 2024 // Aviva Plc and Allianz SE are among potential bidders for Britain’s home and motor insurance firm Esure Group Plc, according to people familiar with the matter. Sampo Oyj, which owns British general insurer Hastings...
Insurer Not Liable if Bank Improperly Cashes Insurance Check, Appeals Court Finds
Nov 1 2024 // Insurance carriers are not responsible if a bank improperly cashes a check made out to two insureds and gives the proceeds to only one of them, a federal appeals court decided this week. The U.S. 11th Circuit Court of...
Online Insurer Waterdrop Mulls Secondary Listing in Hong Kong
Oct 31 2024 // US-listed Waterdrop Inc. is looking at a secondary listing in Hong Kong as it seeks to expand its insurance business in the financial hub, according to Chief Executive Officer Shen Peng. The online insurance broker, which...
