Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Insurance 101: All About Insurance Carrier Appointments
Jul 9 2024 // This post is part of a series sponsored by AgentSync. Picture this: You’ve taken all the necessary steps to become a licensed insurance producer. You’ve completed all of your state’s pre-licensing...
Insurers Fret Over Risk of Militant Attacks, AI Hacks at Paris Olympics
Jul 5 2024 // Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics...
Coverys Launches London Market Insurer, Approved to Write US E&S Business
Jul 2 2024 // Coverys Ltd., a UK entity in the Coverys Group of Companies, has received regulatory authority to launch a London company market insurer, effective June 26. Coverys Ltd. is part of Coverys’ dedicated London platforms...
Japan Insurers Plan to Sell $3.1 Billion Worth of Honda Shares, Reuters Reports
Jul 2 2024 // Japan’s four top property and casualty insurers, along with other financial firms, are planning to sell around ¥500 billion ($3.1 billion) worth of shares in Honda Motor Co., Reuters reported. Tokio Marine Holdings...
Insurer Can’t Rescind Workers’ Comp Policy, Even With Misrep, MS High Court Says
Jul 1 2024 // An insurer cannot rescind a workers’ compensation policy, even in the case of a material misrepresentation that could led to millions of dollars in benefits payments, the Mississippi Supreme Court decided last...
D.A. in California Sues Farmers, Other Home Insurers Alleging Scheme to Underinsure
Jul 1 2024 // Alameda County District Attorney Pamela Price’s Consumer Justice Bureau has sued multiple home insurance carriers in California, including Farmers Insurance Exchange, alleging they’re operating a scheme that...
Rhode Island Bars Auto Insurers From Charging ‘Widow’s Penalty’
Jul 1 2024 // A new Rhode Island law prohibits auto insurers from charging policyholders more solely because they have been widowed. The new law bans insurers from treating widows or widowers any differently than married people in terms...
Insurers Seek Subrogation Against Norfolk Southern Over Ohio Train Derailment
Jun 28 2024 // Four insurance companies filed a subrogation lawsuit against Norfolk Southern in federal court last week, alleging the rail carrier’s negligence led to the 2023 East Palestine, Ohio train derailment and subsequent...
