Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Face Business Interruption Claims After Global Tech Outage
Jul 22 2024 // Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm...
People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO
Jul 19 2024 // Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO. Tribble has held a variety of positions during the past eight years with...
Angola to Sell Stakes in Biggest Insurer, Standard Bank Unit
Jul 19 2024 // Angola will sell stakes in its largest insurer and in the local unit of Standard Bank Group Ltd. this year, as the oil-producing nation moves ahead with a privatization program to raise cash and diversify the economy. The...
Insurers Settle With Hotel in Case of Woman Videotaped in the Shower
Jul 19 2024 // Four insurance companies, unable to escape a duty to defend a New York hotel where a young woman was secretly videotaped in the shower in 2015, have reached a settlement in the case that made headlines around the...
Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond
Jul 17 2024 // It is interesting—and telling—that one of the concerns around generative artificial intelligence has to this point largely revolved around copyright infringement. The most high-profile lawsuits around GenAI have so far...
Insurers Tied to Apollo, KKR Buy Mortgages Outright in New Twist
Jul 17 2024 // Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright. It’s a trend that’s picked up pace over the...
Lloyd’s Insurer AEGIS London Launches Data Science and Analytics Team
Jul 15 2024 // AEGIS London, the London-based Lloyd’s syndicate, has established a new Data Science and Analytics team to enhance underwriting capabilities and data-driven initiatives. Led by Giuseppe D’Angelo, head of Data...
US P/C Insurers Post Best Q1 Underwriting Result in 17 Years
Jul 15 2024 // Even though direct loss ratios for commercial auto and other liability lines rose in first-quarter 2024, across all lines U.S. property/casualty insurers posted a net combined ratio of 94 — the best since...
Insurers Seek Subrogation Over Ohio Train Derailment
Jul 15 2024 // Four insurance companies filed a subrogation lawsuit against Norfolk Southern in federal court, alleging the rail carrier’s negligence led to the 2023 East Palestine, Ohio train derailment and subsequent fire,...
Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season
Jul 12 2024 // Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the property/casualty and reinsurance sectors, Moody’s Ratings...
Insurers Hike Rates as Extreme Storms Like Beryl Proliferate
Jul 12 2024 // Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response. That could mean big profits...
Markets/Coverages: Captive Insurer Targets New York Affordable Housing Market
Jul 12 2024 // A new Vermont-based captive insurer is promising to provide insurance for New York affordable rental housing buildings at a time when advocates say coverage is difficult to afford or obtain. The Milford Street Association...
Insurers Entitled to Second Injury Fund Payments Even If No Longer Writing in State
Jul 12 2024 // A workers’ compensation insurer is entitled to continue to receive reimbursements from the Massachusetts second injury fund even after it stops writing business in the state, the state’s high court has ruled in...
Collector Vehicle Insurer OpenRoad to Launch in Four Midwest States
Jul 11 2024 // New classic and modern collector vehicle insurer, OpenRoad, has announced it will begin offering coverage across select U.S. states on Monday, July 15, 2024. OpenRoad will be centered around Midwest states with coverage...
Damage From Hurricane Beryl May Cost Insurers $2.7B in US, $510M in Caribbean: KCC
Jul 11 2024 // Insurers in the United States may take a hit of about $2.7 billion from damage caused by Hurricane Beryl, catastrophe modeling company Karen Clark & Co (KCC) said on Thursday. About 1.5 million customers remained...
Hurricane Beryl Triggers Record Payout for Caribbean Insurer
Jul 11 2024 // Hurricane Beryl’s path of destruction through the Caribbean last week triggered a record $44 million payout to the nation of Grenada from a regional catastrophe insurance fund. The Caribbean Catastrophe Risk...
Markets/Coverages: High-End Home Insurer Openly Enters Virginia
Jul 10 2024 // Home insurer Openly has begun offering its coverage options to independent insurance agents and their policyholders in Virginia. Already active in 23 states, the upmarket home insurer said it is launching in Virginia with...
Canada Insurers Investing in Fossil Fuels as Climate Risks Grow: Shareholder Group
Jul 10 2024 // Canada’s top property and casualty insurers have invested more than C$19.5 billion ($14.30 billion) in fossil fuels production at a time when climate change is driving up risks for the industry, according to a report...
Viewpoint: Premium Audits Help Insurers Navigate Regulatory Compliance
Jul 10 2024 // Leading carriers and managing general agents (MGAs) are increasingly seeking to assess their premium income via audits to ensure exposures are reported accurately, while tackling potential premium leakage and addressing...
Can Insurers Sue School Boards for PIP Claim Reimbursement? Florida Courts Differ
Jul 9 2024 // In 1997, Florida lawmakers tweaked the state’s personal injury protection or “no-fault” auto insurance law. The idea was to allow school kids injured in a school bus accident to have some of their medical...
