Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Hong Kong Insurer FWD Group Eyes Singapore Listing
Jul 31 2018 // Hong Kong billionaire Richard Li’s FWD Group is considering listing in Singapore with a dual-class structure, as the insurer moves ahead with its initial public offering preparations, people with knowledge of the...
Insurer Settles Suit Over Toddler Death in Hot Oregon Apartment for $100K
Jul 30 2018 // An insurance company for a Portland apartment complex has agreed to pay $100,000 to settle a lawsuit filed by the mother of a 2-year-old girl who died in her bedroom after a heater malfunctioned. In a lawsuit that had...
Michigan State Sues Insurers Over Nassar Claims Coverage; Stops Victim Payments
Jul 30 2018 // Michigan State University has filed suit against 13 insurance carriers over coverage of sexual assault claims by victims of now-imprisoned former sports doctor Larry Nassar. The lawsuit against the insurers was filed July...
French Insurer CNP Declines to Comment About Merger Speculation
Jul 30 2018 // French insurer CNP, which has been the subject of merger speculation, reiterated its annual earnings growth targets as it posted higher interim net profits. CNP’s first-half net profits rose 2.3 percent to 672...
Security First Insurance Co. Enters Florida’s Growing Private Flood Market
Jul 30 2018 // A new carrier has entered the Florida flood insurance market with a policy it says will provide better coverage than what is available from the National Flood Insurance Program. Ormond Beach, Fla.-based Security First...
Texas Seeks Input on Draft of Revisions to Catastrophe Data Call Standards
Jul 27 2018 // Texas insurance regulators have responded to insurer requests for revisions to its standards for catastrophe data calls and is seeking input on the proposed changes. The Texas Department of Insurance said following...
Markel’s New German Insurer Rated ‘A’ by A.M. Best
Jul 27 2018 // Markel Corp. announced that its newly licensed German insurance company, Markel Insurance SE (MISE), has been given an “A” financial strength rating by A.M. Best. MISE has been established to meet the insurance...
Nigerian Regulator Triples Insurers’ Minimum Capital Requirement
Jul 27 2018 // Nigeria increased the minimum capital requirement for insurers by threefold, in a bid to expand their capacity to handle risk in Africa’s biggest oil producer. The National Insurance Commission requires the new...
XL Catlin to Build On-Demand Cyber Insurance Product With Slice Labs
Jul 26 2018 // Slice Labs Inc., a U.S. company offering cloud-based on-demand insurance, has partnered with XL Catlin to offer an on-demand cyber insurance product for U.S. small and medium-sized business (SMBs) built on the Slice...
South Dakota Moves to Liquidate Surety Insurer ReliaMax
Jul 26 2018 // ReliaMax Surety Co. has been placed into liquidation by the South Dakota Division of Insurance. The South Dakota DOI petitioned the Hughes County Circuit Court on June 12, 2018, to place ReliaMax into liquidation due to...
Pennsylvania Warns Consumers, Insurers About Rising National Auto Theft Rates
Jul 26 2018 // Pennsylvania Insurance Commissioner Jessica Altman has reminded drivers to take precautions to prevent auto theft, as a recent report shows the rate of car theft nationally rising by more than four percent in the first...
India’s HPCL Cancels Iran Oil Purchase After Insurer Refuses to Provide Cover: Sources
Jul 26 2018 // India’s Hindustan Petroleum Corp. (HPCL) canceled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources...
Insurers, Banks Warned to Prepare for Market Turmoil on Brexit Day
Jul 26 2018 // The Bank of England is war-gaming with lenders and insurers for potential market turmoil on Brexit day. Sam Woods, the central bank’s top supervisor, said contingency planning for Britain’s withdrawal from the...
Canadian Insurer Backs Autonomous Car Startup in Florida Retirement Community
Jul 26 2018 // There’s a village in Florida where self-driving cars rule the road, and a Canadian insurance firm wants to come along for the ride. Toronto-based Intact Financial Corp. is investing $3 million in startup Voyage as...
San Francisco May Screen Insurers for Their Fossil Fuels Investments
Jul 26 2018 // The San Francisco Board of Supervisors has become what is believed to be the first U.S. municipal body to try to force insurance companies to stop insuring and investing in fossil fuels. The board on Tuesday voted...
Auto Insurer Loses Appeal for Dismissal of Complaints in Louisiana Claims Dispute
Jul 25 2018 // In late June, the Louisiana Supreme Court ruled against an insurer and its insureds seeking summary judgement dismissing complaints against them in a case involving auto insurance claims. At issue was whether or not the...
A.M. Best Assigns Credit Ratings to Clearwater Select Insurance Company
Jul 25 2018 // A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a+ to Clearwater Select Insurance Company, an insurance company based in Stamford, Conn., that specializes in...
China’s Fosun Weighs Acquisition of Belgian Insurer Ageas
Jul 25 2018 // Fosun International Ltd., the Chinese group backed by billionaire Guo Guangchang, is considering an offer for all or parts of Belgian insurer Ageas in what could be its boldest move to expand its international footprint,...
U.S. Flood Models Still in Infancy, So Underwriters Must Be ‘Cautious Consumers’
Jul 24 2018 // The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among...
Ratings Agency Ignites Controversy Over Financial Strength of Florida Insurers
Jul 24 2018 // With Florida about to enter peak hurricane season, a state insurance association representing 15 insurers in Florida is hitting back against a recent report from ratings agency Weiss Ratings that identified 10...
