Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Hedge Fund Manager Loeb Drops Buyout of $1.5B Re/insurer SiriusPoint
May 15 2023 // Hedge fund manager Dan Loeb said he’s no longer exploring an acquisition of specialist insurance underwriter SiriusPoint Ltd. Loeb held exploratory discussions with Bermuda-based SiriusPoint about a potential deal to...
7th Circuit: D&O Insurer Must Pay Settlement for Drugmaker’s Kickback Case
May 9 2023 // Federal Insurance Co. must pay the $10 million policy limit in a directors and officers policy issued to Astellas Pharma, despite the carrier’s assertion that Illinois public policy forbids it from reimbursing the...
South Africa’s State-Owned Insurer Won’t Pay Claims for Grid Collapse
May 8 2023 // South Africa Special Risk Insurance Association told clients it won’t pay claims for damage related to a collapse of the national electricity grid, Business Day reported, citing a circular from the company. The...
Dog-Related Injuries Cost Insurers More Than $1 Billion in 2022
May 8 2023 // Insurers paid out more than $1 billion in dog-related injury claims in 2022, a 28% increase over 2021 even though the number of claims decreased last year, according to the Insurance Information Institute (Triple-I) and...
W.R. Berkley CEO Says Insurer Isn’t Going to Chase D&O Market ‘Down the Drain’
May 8 2023 // W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.” During a call with analysts to discuss first quarter earnings,...
Texas Court: Exxon Covered by Contractor’s Excess Insurers
May 8 2023 // Two excess insurers may be liable for the more than $20 million that ExxonMobil Corp. paid to settle lawsuits filed by a contractor’s employees who were badly burned while working at an Exxon refinery, the Texas...
Alabama DOI Needs Insurers to Light Up the Nascent Medical Pot Business in the State
May 5 2023 // Alabama lawmakers legalized medical marijuana two years ago this month. But it came with a high hurdle: Dispensaries, growers, processors and other license applicants must have at least $2 million of liability and casualty...
More Insurers Weigh Joint Strategy to Climate Change as They Assess Antitrust Risk
May 5 2023 // Insurers are being forced to rethink their approach to climate change as they assess the risk of being sued for antitrust violations. Munich Re, the world’s biggest reinsurer, recently backed out of the Net Zero...
Insurer Group Concerned Over FIO Climate-Related Data Collection Effort
May 4 2023 // The National Association of Mutual Insurance Companies is airing concerns over what the group calls a “duplicative data call” issued by the Federal Insurance Office on climate change. The concerns are being...
Banks and Insurers Increasingly Move Away From Coal: Report
May 4 2023 // Banks and insurers are more frequently adding coal exclusion policies to their investments while those with existing policies are toughening them up despite record profits in the sector, according to a report on...
Markets/Coverages: WTW Launches End-to-End Trading Platform to Connect Broker, Insurer Systems
May 2 2023 // WTW, the global advisory, broking and solutions company, announced the global launch of Neuron, a sophisticated digital insurance platform. Neuron uses cutting-edge technology to help underwriters and brokers connect and...
Specialty Re/Insurer Canopius Has Management Shake-up With 3 Execs Exiting
Apr 28 2023 // Canopius Group, the London-based global specialty re/insurer, has had a management shake-up, with three executives exiting the company. “Over the last 18 months, Canopius has reorganised our global underwriting...
Florida Senate Approves Amended Insurer Accountability Act, Removes Some Reporting
Apr 28 2023 // The Florida Senate has unanimously approved an amended version of the Insurer Accountability Act, removing some reporting requirements for property insurers. The amended bill would continue to bar insurers from altering...
Rising Oil Prices Complicate Russian Price Cap Checks for Insurers
Apr 28 2023 // Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes. Since December, buyers of Russian crude oil have only been allowed to...
Ship Insurers Warn of Russian Oil Price Cap Evasion, Risks of Growing ‘Dark Fleet’
Apr 27 2023 // A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track the...
Iowa Agent Charged With Defrauding Elderly Individuals and Insurance Companies
Apr 24 2023 // A federal grand jury in Des Moines, Iowa returned an indictment on April 19, 2023, charging a Clive man with seventeen counts of mail and wire fraud, one count of conspiracy to commit mail and wire fraud, and two counts of...
W.R. Berkley CEO Says Insurer Isn’t Going to Chase D&O Market ‘Down the Drain’
Apr 24 2023 // W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.” During a call with analysts to discuss first quarter earnings,...
ePayPolicy announces Finance Connect, integrating premium financing with online checkout for insurance companies
Apr 24 2023 // AUSTIN, Texas. April 24, 2023 – Today ePayPolicy announced the addition of Finance Connect to their suite of insurance payments and reconciliation products for insurance companies. Finance Connect enables insurance...
World Insurance Company Pensionmark Acquiring Xponential in California
Apr 21 2023 // Pensionmark acquired Xponential Growth Solutions in San Diego, California. Terms of the deal were not disclosed. XGS is a retirement benefits consultant. Pensionmark is a World Insurance Associates LLC company. Pensionmark...
Japanese Banks (and Insurers) Face Spotlight for ‘Gender Washing’ Women Managers
Apr 19 2023 // Some Japanese banks may soon come under the spotlight for potential “gender washing” over the way they count the number of women in management positions. Japan’s Financial Services Agency found a big...