Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
2 Reasons COVID-19 Legislation is the Wrong Solution
Sep 23 2020 // Back in March and April, I gave two webinars on COVID-19 for the Academy of Insurance. If you haven’t had a chance to take those, click here to get the Academy of Insurance COVID-19 related classes. One of the topics...
MMG Insurance Company Hires McPherson as Senior Vice President of Operations
Sep 23 2020 // MMG Insurance Company has hired David McPherson as senior vice president of operations, effective September 1, 2020. McPherson will work closely with Matt McHatten, current executive vice president and chief operating...
Citing U.S. Sanctions, Insurers Won’t Cover Ships For Russia, Turkey Pipelines Projects
Sep 23 2020 // The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Associations belonging to...
Insurer Impact from Sally Expected to be Moderate; Losses Estimated at $1B to $3B
Sep 23 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 & casualty insurers and...
Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change
Sep 23 2020 // Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe...
New York Calls on Insurers to Address Climate-Related Financial Risks
Sep 22 2020 // New York State Department of Financial Services (DFS) Superintendent Linda Lacewell today implemented several new initiatives to address climate-related financial risks, calling on insurers to begin integrating these...
P/C Mutual Insurers Improved Underwriting in 2019; Top 10 Hold 72% of Market: AM Best
Sep 22 2020 // Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting performance in 2019 and managed to...
UK Seeks to Reform How Motor, Home Insurers Treat Loyal Customers
Sep 22 2020 // The Financial Conduct Authority has set its sights on revamping the UK motor and home insurance marketplace to help customers, especially loyal policyholders, save money. The FCA is proposing reforms of these markets that...
Banks, Insurers Await ‘Brexit Dividend’ of ‘British-Style’ Regulation
Sep 22 2020 // Britain will adopt tough but less bureaucratic financial rules after Brexit, starting with simpler regulation of small banks, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain will soon unveil new...
5th Circuit Reasserts Bad Faith Not Necessary to Win Interest Penalty Against Texas Insurers
Sep 22 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...
FCA to Insurer CEOs: Don’t Delay in Paying Valid COVID Business Interruption Claims
Sep 21 2020 // In a follow-up to the High Court’s ruling on coronavirus-related business interruption claims by businesses, the UK’s Financial Conduct Authority (FCA) is advising insurers that they must pay all valid claims...
How Insurance Industry Might Respond if a Pandemic Is an Act of Terror
Sep 21 2020 // Imagine a scenario where COVID-19 was manufactured in a lab and was released as an act of terror. Tracey Gibbons, senior vice present, Underwriting, at Third Point Re, considers this possibility during a presentation for...
The Role Insurance Plays in Civil Rights Settlements Against Law Enforcement
Sep 21 2020 // Municipalities, their insurers and risk pools should be heeding the current public re-examination of police and prosecutorial actions taking place across the country, according to an insurance policyholder attorney who...
Agents Warned of ‘Creative’ Attorneys and COVID-19 Lawsuits
Sep 21 2020 // Agents and brokers should be on alert that plaintiffs’ attorneys in COVID-19 related business interruption claims lawsuits may be eyeing them as more cases against insurance companies begin to fail and claimants...
Businesses Urge U.S. Insurers to Stop Insuring, Investing in Fossil Fuel Producers
Sep 18 2020 // A group of about 60 American businesses on Thursday urged their insurers to stop providing coverage to and investing in fossil fuel producers. In a letter, companies including outdoor-gear producer Patagonia and ice-cream...
In a First, State Farm to Acquire Texas Nonstandard Auto Insurer GAINSCO
Sep 17 2020 // State Farm Mutual Automobile Insurance Co. is acquiring Dallas-based nonstandard auto insurer, GAINSCO, in a $400 million cash transaction. It will be the first time in State Farm’s 98-year history that it has...
Moody’s Says Property/Casualty Insurers Face Significant Losses from Western Wildfires
Sep 17 2020 // Dozens of wildfires raging in California, Oregon, Washington and other Western states have resulted in loss of life, damaged or destroyed about 9,657 homes and commercial structures and burned more than 5 million acres,...
UK Businesses Wait to See if Their Insurers Will Appeal COVID-19 Insurance Ruling
Sep 16 2020 // LONDON — Murray Pulman says he is as tough as they come, but battles with his insurer have left him close to tears after a coronavirus lockdown forced his family-run cafe The Posh Partridge to close. Pulman was...
Insurers, Policyholders, Analysts React to UK’s COVID-19 Business Interruption Ruling
Sep 15 2020 // Insurers and observers are weighing in on the ruling by a London court in a test case brought by Britain’s Financial Conduct Authority (FCA) to clarify insurance coverage for COVID-19 related business interruption...
London Court Rules Some Insurers Should Not Have Denied Business Interruption Claims
Sep 15 2020 // London judges have ruled that some of the world’s biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain’s Financial Conduct Authority...
