Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Red Skies in the Morning, Insurers Take Warning
Apr 20 2020 // Red skies at night, sailors’ delight. Red skies in the morning, sailors take warning. Just as the old adage infers, when it comes to marine risks, there will be losses. But, not every loss can be attributed to the...
D&O Insurance Coverage and Coronavirus: Avoiding Exclusions
Apr 20 2020 // Sometimes an article needs an introduction to put the subject in context for the reader. Sadly, no introduction is needed for the coronavirus. It will have affected everyone who reads this. Some will have suffered...
How to Maximize P/C Insurance Industry’s Crisis Response: Make Small Steps Part of Bigger, Long-Term Strategy
Apr 20 2020 // I’m shocked, just shocked that you’re suggesting that during a crisis that insurance companies might in fact be considered the villains. I’ve never heard that before.” That’s Richard Levick...
Texas Windstorm Insurer Implements Accommodations for Policyholders
Apr 20 2020 // Texas’ property insurer of last resort for wind and hail in counties along the state’s coastline is temporarily reducing the amount of premium due in order to issue a policy and providing 75 days to pay the...
Florida Directs Workers’ Comp Insurers to Comply with COVID-19 Treatment Order
Apr 20 2020 // The Florida Office of Insurance Regulation has issued an informational memorandum to all insurers and entities authorized to write workers’ compensation insurance providing guidance on the treatment of policyholders...
4 Ways COVID-19 Will Change Cannabis and Insurance
Apr 20 2020 // One may not need to be able to read the cannabis leaves to divine the impact of the COVID-19 pandemic on cannabis and insurance. Some good guesses from any insurance professional with their foot in the door of a...
California Supreme Court Ruling Will Enable Montrose to Tap Excess Policies
Apr 20 2020 // A decision earlier this month by the California Supreme Court gave policyholders with long-tail environmental claims a potentially big win, finding that polices within each policy period can be vertically stacked. The...
Mass. Attorney General Calls on Division of Insurance to Lower Auto Premiums
Apr 17 2020 // Massachusetts Attorney General Maura Healey’s office has called on the Massachusetts Division of Insurance (DOI) to direct all auto insurance companies doing business in the state to lower premiums during the...
Insurers’ Pause of Dividends Likely Shows Caution, Rather Than Credit Risks: S&P
Apr 17 2020 // Some global regulators are advising insurers to suspend dividend payments in response to the COVID-19 pandemic. If insurers do, they won’t have to worry about their credit quality, S&P Global Ratings said in a...
New Business Interruption Insurance Poses Risks to Chinese Insurers, Says Fitch
Apr 17 2020 // At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak, which may have unintended...
Six Things to Know About the Recent Impasse Between Regulators and Insurers in the Aftermath of California’s Devastating Wildfires
Apr 17 2020 // This post is part of a series sponsored by CoreLogic. California’s 2017 and 2018 catastrophic wildfire events hit state insurers historically hard, with record-breaking losses of over $25 billion.1 2 Three years...
Chubb CEO Greenberg Warns Retroactive Measures Would ‘Bankrupt’ Insurance Industry
Apr 16 2020 // Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some uncovered business-interruption losses. “The insurance industry is a fundamental part of the...
Insurance Department: Auto Insurers to Return Over $187M to Louisiana Drivers
Apr 16 2020 // The Louisiana Department of Insurance says collectively auto insurers will return more than $187 million in premium to drivers in the state in the form of refunds and rebates on auto insurance policies. Insurance...
Analysts See Auto Insurers’ Coronavirus Rebates As a Solid Short-Term Move
Apr 16 2020 // Auto insurers have seen something new with the coronavirus pandemic: an historic reduction in driving due to millions of customers staying home and sheltering in place. That change led to carriers issuing between $8...
UK Insurers, Banks Are Weathering Effects on Capital of COVID-19 Crisis: BoE’s Woods
Apr 16 2020 // Britain’s banks have enough funds to keep lending to the economy even under the deep recession scenario outlined by a government watchdog, Bank of England Deputy Governor Sam Woods said on Wednesday. The BoE has...
Texas Urges Insurers to Work with Commercial Customers on Premium Adjustments
Apr 15 2020 // The Texas Department of Insurance has issued a bulletin to insurers to urging them to work with commercial policyholders that have premiums based on payroll, sales, or a similar auditable exposure. TDI requests that...
Despite Insurance Industry Concerns, More States Introduce COVID-19 BI Bills
Apr 15 2020 // New Jersey was the first state to propose a bill that would mandate insurers cover COVID-19-related losses under their business interruption policies, and the insurance industry was quick to express its concern. But that...
Insurance Australia Group, AMMB Seek to Sell Their Malaysian Auto Insurer: Sources
Apr 15 2020 // The owners of AmGeneral Insurance Bhd., Malaysia’s second-biggest auto insurer, have restarted a sale process and are seeking as much as $1 billion for the company, people with knowledge of the matter said. Kuala...
North Carolina Creates Process for Insurers to Legally Offer Pandemic Premium Relief
Apr 15 2020 // The North Carolina Department of Insurance says it is working with insurers to allow them to offer financial relief to policyholders without filing for department approval or risking violating state law during the current...
How Insurance Claims Pros Are Adjusting to Pandemic Complications
Apr 15 2020 // The coronavirus pandemic has not shut down the day-to-day business of adjusting claims, but the workload is lighter and claims managers are coping with evolving government regulations and guidelines. Crawford & Co....
