Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
North Carolina Appeals Court Overturns COVID Coverage Ruling Against Insurer
Jul 7 2022 // A North Carolina appellate court has overturned a rare win by businesses seeking to compel insurance coverage for their COVID-19 shutdown losses. In North State Deli et al vs. The Cincinnati Insurance Co., a three-judge...
Markets/Coverages: Lloyd’s Insurer Probitas Starts Underwriting Cyber
Jul 7 2022 // Probitas 1492, the Lloyd’s insurer, has started underwriting cyber insurance with Richard Taylor, head of Cyber & Technology, focusing the book of business on complex small-and-medium-sized enterprises (SME), up...
Insurer’s Good Deed Restarts the Clock on Benefits, Carolina Appeals Court Finds
Jul 5 2022 // Insurers might say this one falls in the category of “no good deed goes unpunished.” In a workers’ compensation decision published July 5, the North Carolina Court of Appeals held that the re-issuance of...
Stricken Bulk Carrier Remains Stranded Near Sydney as Rescue Efforts Fail for 21 Crew
Jul 5 2022 // Twenty-one crew members remain aboard a bulk carrier which lost power in turbulent waters near Sydney, after overnight rescue attempts failed. The MV Portland Bay, which has been without power since early Monday, has been...
5th Circuit Allows Insurer to Recoup Payment for Damage to Docking Facility
Jul 4 2022 // A doctrine that prevents parties from seeking reimbursement for intangible economic losses caused by maritime negligence doesn’t prevent an insurer from recouping $1.7 million it paid to a policyholder for damage to...
2022 Super Regional P/C Insurers™; Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers
Jul 4 2022 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2021 data for property/casualty...
Cyber Insurtechs and Insurers ‘In This Together,’ Not in Competition
Jul 4 2022 // Insurtechs and insurance companies are “breaking down the wall” that stood between them as competitors in favor of working together to tackle dynamic cyber risk. Lori Bailey “We’re all trying to...
Governor, Florida Cat Fund Board Agree to Raise Premiums for Insurers
Jul 1 2022 // Florida property insurers have another cost increase to manage after the Florida Hurricane Catastrophe Fund was approved for a premium increase. The fund’s governing body, the State Board of Administration, this...
More Insurers to Offer Better D&O Coverage to Businesses With Robust ESG Frameworks: Marsh
Jun 30 2022 // Marsh announced today several enhancements to directors and officers liability (D&O) insurance offerings that could enable more clients to benefit from superior environmental, social, and governance (ESG)...
Report: California Workers’ Comp Insurer Losses Were up in 2021
Jun 30 2022 // Total insurer combined losses and expenses incurred in 2021 were $13.1 billion, or 96% of calendar year premium, compared with $12 billion in 2020, according to a report released today. The Workers’ Compensation...
Rochester Diocese, Insurers Plan for January Hearing on $147M Sexual Abuse Settlement
Jun 30 2022 // Insurers and the Roman Catholic Diocese of Rochester have agreed on a schedule for discovery and a bankruptcy court trial regarding a proposed $147 million settlement to cover sex abuse claims against the church. The...
EU Antitrust Enforcers Accept Offer From Irish Insurers’ Association
Jun 30 2022 // EU antitrust enforcers accepted on Thursday an offer from Irish insurers’ association Insurance Ireland to open up its data sharing platform to non-members and apply fair criteria to access it aimed at averting a...
Turkish Insurers Seek Bond Issue to Protect Capital From Soaring Inflation
Jun 30 2022 // Turkey’s insurance association is in talks with the country’s Treasury on a potential inflation-indexed bond issue, the group’s head told Reuters, as insurers seek a new mechanism to protect their capital...
New Mexico Superintendent of Insurance, Insurer Group Urge Passage of Hermit’s Peak Fire Assistance Act
Jun 30 2022 // New Mexico Superintendent of Insurance Russell Toal and American Property Casualty Insurance Association President and CEO David A. Sampson are urging Congress to act quickly to pass the Hermit’s Peak Fire Assistance...
California Insurer’s Efforts to Keep Workers and Help During Pandemic Led to Viable New Business
Jun 29 2022 // In the annals of how the pandemic changed things, toss in a positive tale from insurer CSAA Insurance Group. Walnut Creek, California-based CSAA, a AAA Insurer, offers automobile, homeowners and other personal lines of...
Florida Driver Could Get $12M After Insurer Did Not Respond to Settlement Offer
Jun 29 2022 // A Florida accident victim gets a second chance to compel an auto insurer to pay a $12.7 million judgment after the insurer failed to respond to a $10,000 settlement offer, a federal appellate court ruled Tuesday. A divided...
Carlyle Unit Assumes Full Risks of Operating Gas Field as Insurers Shun Black Sea
Jun 29 2022 // A unit of Carlyle International Energy Partners LP has assumed the full risks of operating a new gas field in the Romanian waters of the Black Sea as insurers shun the zone because of its proximity to the war in...
Don’t Count Out Insurtech Disrupters, Carrier CEOs Say
Jun 29 2022 // Insurtechs bent on disrupting the insurance industry haven’t succeeded so far, but a future wave of insurtechs might emerge to accomplish a similar goal, carrier executives said recently. Speaking at the 38th Annual...
Court Ruling Provides Ammo for Insurers in Florida AOB Cases
Jun 29 2022 // Florida insurers may have another weapon in the war over assignments of benefits in insurance claims, thanks to an appeals court ruling that went against one of the insurance industry’s most visible and active...
AM Best Downgrades Members of NLC Insurance Companies Pool
Jun 28 2022 // AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+” (Good) from “a-” (Excellent) of the insurers that operate...
