Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
California Retailer Sues Travelers for Denied COVID-19 Business Interruption Claims
May 12 2020 // San Francisco-based children’s clothing boutique Mudpie Inc. has filed a class action lawsuit on behalf of California-based retail stores against an insurance provider, saying the small businesses were wrongfully...
Indiana Trucking Insurer, Protective, Looking at Contingent Sale Offer
May 12 2020 // Carmel, Indiana-based Protective Insurance Corp. (Protective) reported that a special committee of independent directors has been formed to evaluate a contingent sale agreement offered by certain Protective shareholders...
Insurers Must Re-Think Pandemic Response or Risk Reputational Damage: UK’s Airmic
May 12 2020 // Airmic, the UK association for risk and insurance professionals, has urged the insurance market to adopt a more responsible and business sensitive position on the COVID-19 pandemic or risk long-term damage to trust and...
Florida Market Study Will Evaluate Exposures, Strategies for Citizens Property Insurance
May 12 2020 // Citizens Property Insurance Corp., Florida’s insurer of last resort, has moved forward with an independent study that will evaluate the insurer’s potential exposures from the state’s troubled property...
For Global Insurers, Pandemic Likely to Erase Profits Until 2021 Second Half: Fitch
May 11 2020 // While insurance rates have risen for nine consecutive quarters due to large catastrophe losses and accelerating claims inflation, Fitch Ratings expects that technical profits won’t be seen until the second half of...
Tokio Marine Uses Tractable’s Artificial Intelligence Solution for Auto Claims in Japan
May 11 2020 // Tokio Marine, the Tokyo-based property and casualty insurer, will use an artificial intelligence (AI) solution to process auto damage across its insurance operations in Japan, accelerating claims processing for...
COVID-19 Hits Already-Troubled Nursing Home Insurance Market; Brokers Try to Help
May 10 2020 // Nursing homes are right in the middle of the deadly coronavirus pandemic hitting the U.S, with more than 28%, or nearly 20,000, of the nation’s COVID-19 deaths happening in these long term care facilities, according...
April’s Killer Tornadoes Cost Insurers Billions in Claims: Aon Report
May 8 2020 // Extensive severe weather events in the United States during April cost insurers billions of dollars, according to the latest edition of Aon’s Global Catastrophe Recap report. There were 14 killer tornadoes in the...
Split Okla. Supreme Court Sides with Plaintiffs in Attorney Fee Dispute
May 8 2020 // An insurer that failed to pay a claim within 60 days cannot be considered the prevailing party even if a claimant is eventually awarded less than the carrier’s settlement offer, a divided Oklahoma Supreme Court...
Willis’ Podmore to Head AF Specialty Captive Operations in North Carolina
May 7 2020 // AF Group has named Ian Podmore as director of Captive Operations at AF Specialty. Podmore will focus on business growth and profitability for new markets and business opportunity development through the use of insurance...
Progressive Q1 Results Reflect ‘Significant Impact’ from Coronavirus, Restrictions
May 7 2020 // The Progressive Corp. said its results for the first quarter were “significantly impacted” by the spread of the coronavirus and social distancing and shelter-in-place restrictions. Despite a 30% increase in...
Forced Payouts of Pandemic Claims Risk Insurers’ Financial Stability: Regulators
May 7 2020 // Forcing retroactive payouts to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk, global insurance regulators said. Disputes over cover for businesses...
New York’s Preferred Mutual Insurance Company Appoints Two to Board of Directors
May 7 2020 // Preferred Mutual Insurance Company has appointed two new members to the company’s board of directors. Joining the board are Heidi Hoeller, retired partner at PricewaterhouseCoopers (PwC), and Dr. Michael Hayduk,...
Viewpoint: Insurance Denials, Proposed Legislation Raise Concerns
May 6 2020 // The arrival and spread of COVID-19 has had significant and far-reaching social and economic impacts upon individuals and businesses throughout the United States. In an effort to curtail the spread of the virus, local and...
Business Income, COVID-19, and Plaintiff Attorneys: They Keep Trying
May 6 2020 // “I think there was an attempt to dissuade the public from filing these claims and to shape the public opinion that this was not property damage,” said Steven C. Marks, managing partner at Miami-based Podhurst...
Louisiana’s Donelon Asks Commercial Auto Insurers to Offer COVID-19 Relief
May 6 2020 // Louisiana’s chief insurance regulator wants insurers to consider offering premium relief to their commercial auto insurance customers due to the impact of the Coronavirus pandemic. Insurance Commissioner Jim Donelon...
Legal Sea Foods Restaurant Sues Over Business Losses Under Policy Issued March 1
May 6 2020 // A popular seafood restaurant chain that has been shuttered by the coronavirus and restrictions on dining has gone to court to get its insurer to pay for its business interruption losses. It believes its insurer is...
Supreme Court Agrees to Hear Micro-Captive Insurer Tax Case
May 5 2020 // The U.S. Supreme Court agreed to review a ruling that critics say would give the Treasury Department and Internal Revenue Service a sweeping shield from challenges to their regulations. The justices said Monday they will...
AIG Takes Hit from Coronavirus in Q1; Sees Industry’s ‘Biggest CAT Loss Ever’ Ahead
May 5 2020 // Insurer American International Group Inc. on Monday posted a 93% drop in quarterly adjusted profit, as it set aside money to cover claims related to the COVID-19 outbreak, which it called the single largest catastrophe...
Insurers’ Loss Estimates Linked to Coronavirus Range Widely: Analysis
May 5 2020 // Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment...
