Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Viewpoint: What’s Fair When It Comes to Paying Insurance Claims?
May 28 2020 // The ongoing COVID-19 pandemic has tragically resulted in the deaths of 100,000 Americans, changed our day-to-day lives, hampered our economy, and forced us to reexamine how we live. As the country moves to reopening, after...
Texas Windstorm Insurer Files Replacement Cost Policy Form Revisions
May 27 2020 // The Texas Windstorm Insurance Association has filed the following revised endorsements with the Texas Department of Insurance for approval: Revised Endorsement No. 164 – Replacement Cost Coverage – Coverage A...
Lawmaker Details Federal Reinsurance for Pandemic Business Interruption, Event Losses
May 27 2020 // New York Congresswoman Carolyn Maloney has introduced the Pandemic Risk Insurance Act of 2020, a federal backstop for pandemic-related business interruption insurance modeled after the Terrorism Risk Insurance...
I’m From the Government and I’m Here to Help – Part 4
May 27 2020 // This is the conclusion of my series of posts about the different bills that states have put forward to force insurance companies to provide business income coverage for losses related to COVID-19. Insurers look for other...
Openly, Premium Home Insurance Company, Rapidly Expanding into New States
May 27 2020 // Boston, MA, MAY 27, 2020— Openly Insurance, a tech-forward company that specializes in premium homeowners insurance and is backed by powerhouse investors such as Gradient Ventures, Google’s AI investment fund, is...
Judge: Ohio Hospital, Insurer Need Not Fund Doc’s Murder Case Defense
May 22 2020 // A Michigan-based health system and its insurer don’t have to cover the costs of an Ohio doctor’s defense against murder charges in the deaths of 25 hospital patients, a federal judge ruled. William Husel is...
Texas Insurer Germania Extending Auto Premium Paybacks Through June
May 22 2020 // Texas-based farm mutual insurance company, Germania Insurance, is extending its Reduced Driving Payback through June, raising its total reimbursement to policyholders to nearly $9 million in credits. Germania announced its...
Texas Agency Sleeper Sewell Insurance Joins Insurors Group
May 22 2020 // Dallas-based independent insurance agency, Sleeper Sewell Insurance, has joined Insurors Group LLC, an alliance of independent insurance agents in Texas. Sleeper Sewell Insurance was originally founded as Dwight Sleeper...
French Court Orders AXA to Pay Restaurant’s COVID-19 Business Interruption Losses; AXA Vows to Appeal
May 22 2020 // A Paris court ruled that insurer AXA must pay a restaurant owner two months’ worth of coronavirus-related revenue losses, the restaurateur’s lawyer said on Friday, potentially opening the door to a wave of...
Not All Homes in Wildfire Zones Are Uninsurable. Here’s How Insurers Can Tell.
May 22 2020 // Fire-risk scores now used by insurance underwriters can sometimes can make it challenging for homeowners to find coverage. Zesty.ai, a California insurtech start-up, is among a handful of firms working to fine-tune...
Insurers, Agents Propose Pandemic Business Relief Plan; Plaintiffs Offer BIG Compromise
May 22 2020 // Key segments of the property/casualty insurance industry, which is facing mounting claims for business interruption losses from the pandemic, have thrown their lobbying weight behind a proposed federal program to replace...
Federal Coronavirus Business Interruption Suits Now Top 100; Many More Expected
May 22 2020 // A federal court has received notice that 101 lawsuits have been filed as of Wednesday seeking coverage from insurers for business interruption losses caused by COVID-19. Plaintiffs attorneys say they expect the number to...
When UK Insurers, Banks Emerge from Lockdown, Their Employees Face New Normal
May 21 2020 // Limits on elevators, thermal imaging and temperature checks will greet a first wave of traders and bankers in Britain preparing to return to offices under new norms to tackle the coronavirus. Britain’s financial...
Journalist’s Spouse Sues Aircraft Owners, Insurers Over Deadly Louisiana Crash
May 20 2020 // The husband of a broadcast journalist who was killed in a Louisiana plane crash along with four others has filed a lawsuit against the aircraft’s owners and insurers, as well as the pilot’s estate. Steven...
I’m From the Government and I’m Here to Help – Part 3
May 20 2020 // This is third in a series of posts where I plan to respond to the bills that several states have filed to force insurance companies to pay business income claims related to COVID-19. Not reimbursing insurers means higher...
For Third Point Re, COVID-19 Crisis Hurts, but It Celebrates 1st Underwriting Profit
May 20 2020 // Third Point Re reported a net loss of $183.6 million for the first quarter of 2020 due to COVID-19-related investment volatility – but the company still had big reasons to celebrate. For the first time since its...
Insurer Beazley Raises $300M to Strengthen Balance Sheet on COVID-19 Uncertainties
May 19 2020 // Beazley, the Lloyd’s specialist insurer, announced it raised £247 million (approximately $300 million) in capital via an equity placement designed to strengthen its balance sheet as a result of the continuing...
P/C Insurers Back a Federal Pandemic Loss Fund But Not a Backstop Like TRIA
May 19 2020 // Property/casualty insurance carrier groups are developing a proposal for a federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but their program won’t be modeled after the...
When Insurers Deny Claims, Brokers Are Next in Line for Allegations of Wrongdoing
May 19 2020 // In the wake of government orders shutting down or seriously limiting the operations of businesses to deal with the COVID-19 outbreak, many affected businesses have turned to their insurers for coverage. This has led to a...
AM Best’s Stress Testing Indicates Most Insurers Can Withstand Pandemic Hit
May 18 2020 // Analysts at the AM Best ratings firm say their initial stress tests of insurance companies globally to gauge the preliminary impact from the COVID-19 pandemic on their financial strength found good news: “most...
