Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
NHC: Tropical Storm Sally Strengthens to Hurricane
Sep 14 2020 // Update 4:00 pm EST: Louisiana and Mississippi residents were under evacuation orders on Monday as Hurricane Sally churned across the Gulf of Mexico, strengthening to a hurricane ahead of expected landfall on Tuesday, the...
Ex-Iowa City Development Aide Gets Prison for Theft; Must Repay Nonprofit, Insurer
Sep 14 2020 // The former office manager of the Iowa City Area Development Group was sentenced Friday to 27 months in prison for a 13-year theft scheme in which she misspent more than a half-million dollars, federal prosecutors...
NHC: Tropical Storm Sally Strengthens to Hurricane
Sep 14 2020 // Louisiana and Mississippi residents were under evacuation orders on Monday as former Tropical Storm Sally strengthened to a hurricane status and churned across the Gulf of Mexico, the U.S. National Hurricane Center...
Michigan Auto Insurer Hagerty Adds Hunter as VP, Brand
Sep 14 2020 // Hagerty, based in Traverse City, Mich., has added Laura Hunter to its Brand team as vice president of Brand Communications. Reporting to Soon Hagerty, senior vice president of Brand, Hunter oversee public relations,...
Major UK Ruling on Business Insurance for COVID-19 Claims Expected Tuesday
Sep 14 2020 // Insurers battered by coronavirus are about to find out how much worse the damage could get. A London court is set to rule Tuesday in a case involving about 370,000 policyholders, companies including Zurich Insurance Group...
Triple Threat: Carrier-Insurtech-Agency Partnerships Can Transform Commercial Lines
Sep 14 2020 // COVID-19 has changed many things in the insurance industry. Seemingly overnight everyone is working from home and the companies with the best digital customer experiences have the advantage. Yet, commercial lines insurance...
Inside Big Pharma’s Stealth War on Drug Price Watchdog: Reuters Special Report
Sep 11 2020 // As evidence grew this spring that the drug remdesivir was helping COVID-19 patients, some Wall Street investors bet on analysts’ estimates that its maker, Gilead Sciences Inc., could charge up to $10,000 for the...
Texas Reminds Insurers, Agents of Data Accuracy Responsibilities
Sep 10 2020 // The Texas Department of Insurance has issued a bulletin reminding all regulated entities, their agents, and their representatives that they are responsible for the accuracy of the data used in rating, underwriting, and...
