Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Does Prop 103 Allow Auto Insurers to Provide COVID-19 Rebates? Maybe Not
Apr 9 2020 // As is by now obvious to everyone, Americans are driving less these days amid the COVID-19 pandemic. Across the country, schools and businesses are shut down. Many areas have curfews and stay-at-home orders that ask...
4 Ways COVID-19 Will Change Cannabis and Insurance
Apr 9 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...
Florida Directs Workers’ Comp Insurers to Comply with COVID-19 Treatment Order
Apr 9 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...
Anticipated Coronavirus Claims Scenarios Across Major Coverage Lines: Viewpoint
Apr 9 2020 // As the COVID-19 pandemic has progressed over the past several months, participants in the insurance industry have recognized the likelihood of a resulting increase in claims volume. Much of the early focus has been on the...
China Plans to Relax Rules on Foreign Ownership of Domestic Life Insurers: Sources
Apr 9 2020 // China plans to make it easier for foreign life insurers to make controlling acquisitions and large equity investments in domestic peers, five people with knowledge of the matter said, as the country pushes ahead in opening...
Canada’s Insurers to Cut Auto Premiums as Drivers Stay Home During COVID-19 Crisis
Apr 9 2020 // Insurance Bureau of Canada (IBC), an industry association for Canada’s home, auto and business insurers, on Wednesday said its members would lower costs for auto insurance to reflect reduced driving during the...
Progressive, Travelers, USAA Latest to Offer Insureds Discounts, Other Accommodations
Apr 9 2020 // More insurers are coming forward every day with discounts, extended coverage and relaxed payment terms for insureds affected by shelter-in-place and other conditions required during the coronavirus crisis. Progressive...
Litigation Builds Against Insurers Over Coronavirus Business Interruption
Apr 8 2020 // Barbara Snowden dreamed of opening a wig shop to help women who’d lost their hair during chemotherapy feel better as they battled cancer. In November, she beamed at the grand opening of Hair Goals Club in the Houston...
Growing Number of UK Insurers Cancel Dividends Amid COVID-19 Concerns
Apr 8 2020 // British insurers canceled more than 1 billion pounds ($1.2 billion) of dividends on Wednesday, in moves welcomed by the Bank of England which had cautioned the sector about the risk of heavy costs from the spread of the...
Australia Insurer IAG Announces CEO Harmer to Retire; Hawkins Named Deputy CEO
Apr 8 2020 // Australian insurer IAG announced that Peter Harmer, managing director and chief executive officer, plans to retire by the end of 2020. A flexible nine-month period of transition has been agreed with Harmer to ensure a...
GEICO, Farmers, Liberty Mutual Join Insurers Giving Breaks to Drivers, Businesses
Apr 7 2020 // More auto insureds and small businesses are getting a break on their insurance premiums to help them through the coronavirus crisis. Auto insurer GEICO said it will give back approximately $2.5 billion in the form of a 15...
California Supreme Court Ruling Will Enable Montrose to Tap Excess Policies
Apr 7 2020 // A decision this week 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 decision was...
Texas Windstorm Insurer Lowers Initial Premium Amount Due; Extends Payment Deadline
Apr 7 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...
Delaware Auto Insurers Take Actions to Help Consumers During COVID-19 Pandemic
Apr 7 2020 // Automobile insurers in Delaware are taking a number of actions in light of COVID-19, the Delaware Department of Insurance (DOI) announced. On Monday, Allstate announced it would embark on a premium payback program...
Stresses of COVID-19 Hit Businesses, Their Insurers, so Partnership Is Needed: FERMA
Apr 7 2020 // The Federation of European Risk Management Associations (FERMA) has called for enhanced understanding of the insurance needs of European businesses to help them get through the pandemic and recover afterwards. “Many...
European Watchdog Urges Re/insurers to Suspend Dividends During Pandemic
Apr 7 2020 // The European regulator has urged re/insurers to temporarily suspect dividend distributions and share buybacks aimed at remunerating shareholders, given the level of uncertainties connected to the impact of the COVID-19...
Australia Regulator Urges Insurers, Banks to Defer Dividends Amid Coronavirus Crisis
Apr 7 2020 // Australia’s prudential regulator on Tuesday asked banks and insurers to consider deferring dividend payouts or use buffers like dividend reinvestment plans until the impact of the coronavirus pandemic is better...
Canadian Insurers Hit with Lawsuit on Refusal to Pay COVID-19 Biz Income Claims
Apr 6 2020 // A class action lawsuit has been filed against Canada’s top indemnity insurers for breach of contract in their refusal to pay business interruption claims from the COVID-19 crisis. “Indemnity insurers are...
Chubb Vows No Layoffs During Coronavirus Crisis; Pledges $10 Million to Relief Efforts
Apr 6 2020 // Global insurer Chubb announced that it will not conduct any layoffs among its 33,000 employees while in the midst of the COVID-19 pandemic health crisis. The insurer has also pledged to give $10 million to pandemic relief...
Insurers Say Forced Payouts for Excluded Virus Losses Risk Destabilizing Industry
Apr 6 2020 // World insurers told governments on Monday that making them pay out on losses suffered due to the coronavirus that were not covered by policies risked destabilizing the insurance industry. With the global economy hammered...
