Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers’ $158 Billion CLO Bet Is Putting the Industry at Risk
Jul 31 2020 // They’ve been billed as a solution to the rock-bottom interest rates weighing down the returns of America’s asset managers. Collateralized loan obligations — which package and sell leveraged loans into...
Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact
Jul 31 2020 // Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines...
S. Africa Insurers’ COVID-19 Payments May Be Too Little, Too Late, for Some Businesses
Jul 31 2020 // South African small businesses fighting rejected coronavirus-related claims said insurers’ offers of relief are too little too late for many and could leave some already struggling to survive with nothing at...
COVID-19 Pandemic to Intensify Risks for Insurers: EU Regulator
Jul 30 2020 // Insurers in the European Union are confronted with risks on several fronts that are intensified by the COVID-19 pandemic, and could face lengthy legal battles from claims relating to lockdowns, the bloc’s insurance...
Insurer Canopius Promotes Pike to Head of Credit & Political Risk
Jul 30 2020 // Canopius announced it has promoted Stephen Pike as head of Credit & Political Risk (CPR) team, part of the Credit, Political & Crisis (CPC) division, effective immediately. Pike joined Canopius as an underwriter in...
Finland’s Sampo Oyj Explores Cash Offer of UK Insurer Hastings
Jul 30 2020 // Finnish insurance group Sampo Oyj is exploring an entry into the UK market with a potential bid for general insurer Hastings Group Holdings Plc. Sampo and Hastings’s biggest shareholder, Rand Merchant Investment...
The Importance of Forensic Accounting to Future Hurricane BI Claims
Jul 30 2020 // As a licensed general contractor and a certified public accountant in South Florida who has been advising clients in accounting- and construction-related issues for the past 15 years, I have seen hurricane seasons come and...
First Insurance Company of Hawaii Launches Admitted Parametric Product
Jul 29 2020 // First Insurance Company of Hawaii (FICOH) has launched a parametric product for Hawaii homeowners and renters. The FirstTrack product provides coverage for expenses that fall below most hurricane policy deductibles,...
S. African Insurers Bow to Policyholder Demands to Pay COVID Biz Interruption Relief
Jul 29 2020 // South African insurers are bowing to demands for the payment of losses that businesses suffered during the nation’s lockdown. Momentum Metropolitan Holdings Ltd.’s Guardrisk will make settlement payments to...
Celebrating Insurers Warned Michigan COVID Ruling Not Knockout Punch They Wanted
Jul 29 2020 // A recent ruling from a Michigan judge that business interruption claims payouts require tangible alteration to a property may have sounded like a knockout win for the insurance industry but a legal expert has a slightly...
Texas Issues Price Comparison Data Call to Auto/Residential Insurers
Jul 28 2020 // The Texas Department of Insurance (TDI) has issued a data call to insurance companies writing personal automobile and residential property policies in the state. The department said the information is needed for price...
Credit Scoring Battle Brewing Between Washington Commissioner and Insurer Groups
Jul 27 2020 // Insurer groups are taking issue with push by Washington Insurance Commissioner Mike Kreidler to prohibit insurers from including information from consumer credit histories in the insurance scores used to calculate premiums...
Pathfinder/LL&D Insurance Group Joins Texas’ Insurors Group
Jul 27 2020 // Insurors Group LLC, an alliance of independent insurance agents in Texas, has added Pathfinder/LL&D Insurance Group LLC located in Houston, as a member agency. Led by CEO Scott West, Pathfinder/LL&D Insurance Group...
Germany to Reform Regulation of Insurers, Banks, Payment Firms on Wirecard Scandal
Jul 27 2020 // German Finance Minister Olaf Scholz intends to unveil a reform of the government’s financial oversight, as the widening scandal over the collapse of Wirecard AG reaches the highest levels of Chancellor Angela...
South African Insurer Santam to Pay Virus Relief to Clients with Biz Interruption Cover
Jul 27 2020 // South Africa’s largest property and casualty insurer will pay as much as one billion rand ($60 million) in relief to clients with business-interruption cover hit financially by the coronavirus pandemic. Santam Ltd....
Workers’ Compensation Rates Won’t Be Adjusted for Coronavirus Experience This Year
Jul 27 2020 // The workers’ compensation line is unlikely to generate a profit this year and may not recover in 2021, an insurance industry economist said during a webcast Thursday. Steven N. Weisbart, senior vice president and...
Court Affirms Class Action Suit Against State Farm in Kentucky Claim Underpayment Case
Jul 27 2020 // A federal appellate court has cleared the way for a class-action lawsuit to proceed against State Farm Fire and Casualty Insurance Co. that may force the insurer to correct underpayments paid to some 65,000...
Tesla Invites Actuaries to Help It Create a ‘Revolutionary’ Insurance Company
Jul 24 2020 // Tesla, which has been testing an insurance product for its drivers in California, is preparing to build an insurer, one CEO Elon Musk says will be “revolutionary.” And he’s inviting actuaries to join his...
Geico Sued for Alleged ‘Woefully Inadequate’ Coronavirus Auto Insurance Discount
Jul 24 2020 // Berkshire Hathaway’s Geico, the country’s second largest auto insurer, is being targeted by a potential class action for allegedly overcharging its policyholders during the pandemic. A lawsuit filed in federal...
The Central Insurance Companies Promotes Zollner to Northeast Regional VP
Jul 24 2020 // The Central Insurance Companies has promoted Matt Zollner to vice president of the Northeast regional office. In his new role, Zollner will be relocating to the Boston area this fall. He will replace Vice President Jocelyn...
