Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Lloyd’s Insurer Ascot, Marsh Provide Coverage for Grain Ship Sailing From Ukraine
Aug 23 2022 // Broker Marsh and Lloyd’s of London insurer Ascot said on Tuesday they have provided coverage for a vessel carrying grain and food products from Ukraine’s Black Sea ports under its new marine cargo and war...
Insurers Anticipate Staffing Increase Over the Next Year Despite Recruiting Difficulty: The Jacobson Group
Aug 22 2022 // Most insurers (68 percent) plan to increase staff during the next 12 months, while only 5 percent anticipate a reduction in the number of employees, according to the Semi-Annual U.S. Insurance Labor Market Study by The...
Lloyd’s Insurers Must Exclude Catastrophic State-Backed Cyber-Attacks
Aug 19 2022 // Lloyd’s insurers must exclude state-backed cyber-attacks in standalone (or affirmative) cyber policies if they reach a catastrophic threshold, according to a Lloyd’s market bulletin issued this week. However,...
California Announces $1.9M Settlement with Health Insurer
Aug 18 2022 // California Insurance Commissioner Ricardo Lara announced a major settlement with National Health Insurance Co. The California Department of Insurance alleged that the company continuously violated California law since 2015...
Costa Rica Weighs Raising $2.7 Billion via Sale of State-Owned Insurer, Banks’ Assets
Aug 18 2022 // Costa Rica’s President Rodrigo Chaves said on Tuesday he plans to present a bill to sell state-owned banks Banco de Costa Rica and Banco Internacional de Costa Rica, as well as 49% of the state-owned INS insurance...
What the COVID-19 Digital Threat Landscape is Teaching Insurers Post-Roe
Aug 17 2022 // The digital threat landscape of the COVID-19 pandemic is teaching insurers and other companies some valuable lessons about digital privacy in the wake of the U.S. Supreme Court’s overturning of the 1973 Roe v. Wade...
New Jersey High Court Backs Insurer’s New York Exclusion in Home Depot Injury Case
Aug 16 2022 // Clearly, Admiral Insurance Co. did not want to assume any risk in the New York City area. The insurance policy Admiral issued to Richfield Window Coverings excluded coverage “in any way connected with”...
Public Adjusting Firm Accused of Pocketing Insurer Payouts in Texas, Louisiana
Aug 15 2022 // The Texas Department of Insurance says a public adjusting firm that was sanctioned last month by Louisiana regulators has pocketed more than $300,000 in insurer payouts intended for Texas property owners. TDI is asking the...
Scope of EU Ban on Russian Coal and Fertilizers Jolts Insurers
Aug 15 2022 // The European Union jolted insurers and shippers by clarifying that a ban on EU entities servicing exports of Russian coal and some fertilizers applies to shipments anywhere in the world. An EU ban on imports of Russian...
The Continued Importance of Trust Monies, Correct Accounting, and Doing Business with Stable Insurance Companies
Aug 15 2022 // There was some recent news that the Florida Department of Insurance (DOI) is requiring all agencies to return to the state all of their unearned commissions if they did business with a particular carrier that the DOI had...
Louisiana Insurers Have Paid $13.1B on Ida Claims
Aug 15 2022 // Louisiana insurers have paid or reserved to pay $13.1 billion on Hurricane Ida claims through June 30, 2022, the state’s department of insurance announced in early August. Policyholders had filed 460,709 claims of...
Dutch Insurer NN Group’s H1 Profit Slips on Impact of Storm Claims
Aug 12 2022 // NN Group’s core profit fell 12.1% year-on-year in the first half of 2022, the Dutch insurer said on Thursday, citing the impact of weather events and the sale of its asset management arm. Operating profit came in at...
Flexibility Is Key for Insurers Managing Inflationary Challenges
Aug 12 2022 // Inflation likely won’t subside anytime soon, and insurers will need to be proactive and flexible if they want to stay on top of the challenges, said Keith Buckley, managing director of Fitch Ratings’ global...
Officers Exempt from Workers’ Comp But Some Carriers Charging Anyway?
Aug 12 2022 // Tradespeople who call themselves and their workers “independent contractors” have long been an issue for the workers’ compensation industry, often cutting carriers out of premium and leaving injured...
Dissatisfied Claimants Put Carriers at Risk of Losing $170B in Premiums: Accenture
Aug 11 2022 // A research report published last week found that one-third of claimants were not fully satisfied with their most recent insurance claims experience, adding that speed of settlement is a clear pain point for...
Runoff Specialist RiverStone Buying Vermont Captive Insurer Western P&C
Aug 11 2022 // RiverStone, the U.S. insurance runoff specialist of the Fairfax insurance group, announced a tentative agreement to acquire Western Property & Casualty Insurance Co. to be effective this month. The shareholders of...
UK Insurer Aviva Posts 14% Rise in H1 Operating Profit
Aug 11 2022 // Aviva plans to return more cash to shareholders, the British insurer said as it posted a better-than-expected 14% rise in first-half operating profit, sending its shares to the top of the FTSE 100 gainers on...
Tennessee Launches its Own Captive Insurance Company for Cyber, Property
Aug 10 2022 // Tennessee regulators, who for years have touted the state as a comfortable home for captive insurance companies, have announced that the state government has created its own captive. The state is self-insured for property...
Insurers Get Safety Assurances for Ships Exporting Ukraine Grain Through Black Sea
Aug 9 2022 // Ships exporting Ukraine grain through the Black Sea will be protected by a 10 nautical mile buffer zone, according to long-awaited procedures agreed by Russia, Ukraine, Turkey and the United Nations on Monday and seen by...
Phone Call With Insurer Does Not Void Insured’s Prior Rejection of Coverage
Aug 8 2022 // A motorcycle driver’s signed waiver of underinsured motorists coverage in 2004 was still in effect 15 years later when he was in a tragic crash despite a phone conversation he had in 2014 with a representative for...
