Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
London Market Insurers Publish Guidelines for Marine Casualty Claims
Mar 17 2023 // New guidelines have been agreed by marine insurers in the London Market to help improve collaboration in the handling of shipping casualties. A protocol document seeks to promote more effective communication between...
Specialist Insurer Hiscox Launches Underwriting Academy in UK
Mar 17 2023 // Specialist insurer Hiscox UK has officially launched its underwriting academy following a successful pilot in Q4 2022. The Hiscox Underwriting Academy provides hands-on technical and professional development for high...
Citgo’s Lawsuit Against Lloyd’s Insurer Over Seized Venezuelan Oil Gets Go-Ahead
Mar 16 2023 // Citgo Petroleum Corp. may move forward with an attempt to collect more than $40 million it claimed from insurers after Venezuelan authorities in 2020 seized almost a million barrels of its oil. US District Judge Gregory...
Court Affirms Insurer, Agent Have Duty of Care But Not Fiduciary Duty in GEICO Case
Mar 16 2023 // A licensed insurance agent, and the insurer she represents, owe a duty of care to a customer to explain coverages but neither the agent nor the insurer has a fiduciary duty to an insured under Connecticut law. U.S....
California Workers’ Comp Committee to Discuss Insurer Experience
Mar 16 2023 // The Workers’ Compensation Insurance Rating Bureau of California’s Actuarial Committee is set to talk about insurer experience, and the impact of the economic slowdown on the pure premium. The committee is set...
Assisting Insurers with Compliance Under California’s New Wildfire Insurance Regulations
Mar 15 2023 // This post is part of a series sponsored by CoreLogic. Over the past five years, wildfires have been particularly devastating across California, leading insurers, homeowners, and regulators to reconsider how they manage and...
Government’s SVB Intervention Saved Insurers From Significant D&O Claims
Mar 15 2023 // Had the federal government not stepped in to make Silicon Valley Bank (SVB) depositors whole, providers of directors and officers insurance for startups and venture capitalists – as well as financial institutions...
EU Prepares for Climate Stress Test That Includes Insurers
Mar 14 2023 // The European Union is starting to prepare the region’s next stress test to measure the financial sector’s readiness for climate change, with the exercise set to involve the insurance industry for the first...
Ex-Goldman Banker Faces Insider Trading Trial After Being Cut Off by Bank’s Insurer
Mar 14 2023 // A former Goldman Sachs Group Inc. vice president who goes on trial for insider trading in June is scrambling to pay for his legal defense after he was cut off by the bank’s insurers. Brijesh Goel, who has pleaded not...
Insurers Successfully Merge Lawsuits Brought by Lessors for Jets Confiscated in Russia
Mar 13 2023 // Insurers led by AIG succeeded in their attempt to merge several lawsuits brought by aircraft lessors over outstanding claims for jets that have been left out of reach in Russia. Judge Christopher John Butcher at...
Update: Swiss Regulator Monitors Banks, Insurers for Contagion After SVB Collapse
Mar 13 2023 // Swiss financial regulator FINMA on Monday said it was closely monitoring the banks and insurers it oversees after the U.S. moved to guarantee the deposits of two failing lenders in an effort to stem contagion. Credit...
Markets/Coverages: Specialist Re/insurer Apollo Announces Partnership With Praedicat to Harness Emerging Risk Insights
Mar 10 2023 // Apollo, the London-based independent specialist insurer and reinsurer, announced a three-year agreement with Praedicat, the California-based emerging risk analytics and modeling company, that will deploy Praedicat’s...
Canada Financial Watchdog Sets Rules for Insurers, Banks on Climate Risk Disclosure
Mar 8 2023 // Canada’s financial industry regulator published a set of guidelines for banks, insurance companies and other regulated firms to assess and disclose climate risks. Financial firms will need to release climate-related...
Connecting and Expanding the Carrier Ecosystem
Mar 8 2023 // This post is part of a series sponsored by CoreLogic. The increased frequency of severe storms and climate change-fueled catastrophes is driving the need for insurance carriers to prepare themselves to handle more and more...
Should a State Surcharge Insurers That Underwrite Fossil Fuel Risks?
Mar 7 2023 // Connecticut lawmakers are considering imposing a surcharge on insurers’ premiums from the fossil fuel industry. The proposal (SB-1115) calls for a tax of 5% of any premiums any insurer licensed in the state receives...
Louisiana Commissioner Giving Incentive to Insurers Taking UPC Policies
Mar 6 2023 // Louisiana Commissioner Jim Donelon is notifying property/casualty insurers that they will receive credit toward the Insure Louisiana Incentive Program’s grant requirements for assuming United Property & Casualty...
Texas Anti-ESG Push Is Coming for Insurers and Pensions in New Bills
Mar 6 2023 // A Texas lawmaker is seeking to broaden the fight against ESG (environmental social governance) policies by imposing further limits on the types of investments state pension managers can make and restricting shareholder...
P/C Carriers Losing Ground to MGAs in Talent War
Mar 6 2023 // During a webinar about an insurance industry labor market survey last month, an industry recruiter said that insurance carriers are losing ground to managing general agents in the war for talent. “On the property and...
Insurer Faces Class Action for Depreciating Labor in Actual Cash Value Payments
Mar 6 2023 // Two Trumbull Insurance customers who believe they were short-changed on claims payments have filed a proposed class action suit against the insurer, alleging Trumbull has been incorrectly calculating some property claim...
Used-Vehicle Prices May Be Cresting but Insurers Still Underwater
Mar 6 2023 // It was the best of times, it was the worst of times” would be an apt description of the last few years for auto insurers. Immediately after a nationwide, months-long driving hiatus caused collisions to plummet and...
