Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Middle East Insurers Likely to Absorb Bulk of Losses from Beirut Port Blast: Sources
Aug 14 2020 // Insurers in the Middle East are expected to absorb a large part of the losses from Beirut’s explosion last week with Lloyd’s of London and other international players expected to be less exposed, insurance...
Not Every Insurtech Is a Startup: How Swiss Re Delivers Tech Solutions
Aug 14 2020 // It’s not just insurtech startups that have an edge on innovation. Some established reinsurers have developed their own analytics and technology divisions that offer a variety of insurtech-type solutions for...
Consolidation of COVID Business Loss Suits Denied; But Grouping by Insurer Eyed
Aug 13 2020 // The legal panel on multidistrict litigation (MDL) has denied a proposal to consolidate cases brought by multiple businesses against various insurers for coronavirus-related business losses. The U.S. Judicial Panel on...
Michigan’s Accident Fund Insurance Grants $3.5M in Early Workers’ Comp Dividends
Aug 13 2020 // Lansing, Michigan-based Accident Fund Insurance Company of America, a national provider of workers’ compensation insurance, has granted $3.5 million in early dividend payments to policyholder groups that achieved...
Judge Allows Businesses’ Lawsuits Against Insurer Over Coronavirus Losses
Aug 12 2020 // A federal judge in Missouri said on Wednesday a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they say caused a...
UK Auto Insurer Admiral Reinstates Special Dividend as Claims Drop During Lockdown
Aug 12 2020 // Insurer Admiral reinstated its special dividend on Wednesday as it reported a jump in first-half earnings, the latest car insurer to benefit from a slump in claims as coronavirus lockdowns kept Britons off the road in...
California Bill Addressing Property Rates in Wildfire-Prone Areas Awaits Hearing
Aug 11 2020 // The stage has been set for a major battle over a California bill due to be heard in the next few weeks in a key committee that opponents say is a direct attack on insurance consumer protections and proponents say is the...
Ralph Lauren Suit Alleges Fraud by Insurer Refusing to Cover Coronavirus Losses
Aug 11 2020 // Fashion firm Ralph Lauren Corp. is suing its insurer to recoup what it says has been a huge drop of two-thirds of its revenues in the first quarter alone due to the pandemic. Ralph Lauren Corp. (RLC) maintains that Factory...
Texas Windstorm Insurance Company: No Rate Change for Now
Aug 11 2020 // The board of directors of Texas’ property insurer last resort for wind and hail in the state’s coastal counties has voted to file a 0% rate change with the Texas Department of Insurance. The Texas Windstorm...
Honda App Links Feedback on Drivers to Insurance Carriers via Verisk
Aug 11 2020 // Honda Motor Co. is offering an app that scores the safety of car owners’ driving habits and links with insurance carriers that can offer discounts to drivers who are deemed a good risk. The Driver Feedback app is...
Oil Leak from Cargo Ship Pollutes Mauritius Beaches as Insurers Assess Liability
Aug 11 2020 // The oil cleanup from a leaking cargo ship that ran aground off the coast of Mauritius continues while the government and insurance firms begin probing liability for the accident. The incident has befouled the white-sand...
Trust in Insurers/Finance Could Take Long-Term Battering with COVID Crisis: Opinion
Aug 10 2020 // Like the rest of us, the world’s finance industry is still wrestling with the huge uncertainty of a pandemic that doesn’t yet have an end. The sector’s reputation took a battering after the financial...
Beirut Port Explosion to Cost Insurers Approximately $3 Billion: Sources
Aug 9 2020 // Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say. The blast on...
S. Africa’s Regulator to Clarify Policyholders’ Rights in Pandemic Insurance Claims
Aug 7 2020 // South Africa’s financial watchdog is consulting with lawyers and the insurance industry on a potential test case to clarify whether insurers should pay rejected claims from firms hit by the impact of the coronavirus,...
Randall & Quilter Investment Holdings Acquires NationsBuilders Insurance Company
Aug 7 2020 // Following a previous announcement on June 5, 2020, Randall & Quilter Investment Holdings Ltd.’s (R&Q) wholly owned Vermont subsidiary, ICDC Ltd, has completed the acquisition of NationsBuilders Insurance Co....
D.C. Judge Rules For Insurer, Dismisses Restaurants’ Business Interruption Claims
Aug 7 2020 // The insurance industry has notched another victory in its defense of its commercial insurance policies against claims for business interruption due to the coronavirus. In a case brought by the owner of several restaurants...
World Insurance Associates Acquires Novak Agency Insurors of Florida
Aug 7 2020 // World Insurance Associates LLC (WIA) acquired Novak Agency Insurors of Largo, Fla., on June 1, 2020. Terms of the transaction were not disclosed. Novak Agency Insurors will be managed out of WIA’s Saint Petersburg...
Legacy Specialist DARAG Buys Luxembourg Auto and Travel Insurer, Arisa Assurances
Aug 6 2020 // DARAG Group Ltd., the Malta-based legacy acquirer, announced the acquisition of Arisa Assurances SA, an automobile and travel insurance company based in Luxembourg. The transaction will be conducted through DARAG’s...
Insurer AXA, With H1 Net Income Down 40%, Warns of Future COVID-19 Shocks
Aug 6 2020 // AXA SA’s profit sank in the first half as it booked a 1.5 billion-euro ($1.8 billion) charge for claims related to COVID-19 and warned of further shocks from the pandemic. The French insurer saw net income fall 39%...
Rideshare Insurer Buckle Raises $31 Million to Fuel Nationwide Expansion
Aug 5 2020 // Buckle, a digital seller of rideshare insurance, disclosed it has raised $31 million in new venture financing and will use the money to expand operations nationally. HSCM Bermuda and Eos Venture Partners co-led the Series...
