Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Law Requires Post-Mortem on Insolvent Insurers, But Few Reports Available
May 17 2022 // Florida regulators are required to perform post-mortem analyses on failed insurance companies, but few of the reports have been completed or released in recent years, and few people appear to be aware that they exist, the...
Activist Group Says U.S. Insurers Trying to Weaken Climate-Related Regulations
May 12 2022 // A number of businesses within the U.S. insurance sector are trying to weaken or delay emerging climate-related insurance regulation at federal and state levels, according to climate think tank InfluenceMap. Research from...
Florida’s Failing Insurers – Who’s Next?
May 12 2022 // Florida’s homeowners insurance market is in a perilous, precarious position. Florida has not been struck by a hurricane since 2018, yet there have been seven Florida insurer insolvencies in the recent hurricane-free...
Surfside Condo Families and Survivors Reach $1B Settlement with Insurers, Others
May 12 2022 // Families of the 98 victims of the 2021 condominium collapse near Miami Beach, along with injured survivors, could split hundreds of millions of dollars in payouts under a preliminary settlement agreement announced...
Obtaining a Carrier Appointment as a New Insurance Agency
May 12 2022 // This post is part of a series sponsored by AgentSync. If you’re just starting out as a small agency, as a firm or IMO, you may at first struggle with getting carrier appointments, but persistence is key to your...
UK’s Terrorism Reinsurer Pool Re to Reduce Reinsurance Pricing for Insurers
May 10 2022 // Pool Re, Britain’s leading terrorism reinsurer, announced the most significant reduction in its reinsurance pricing in 20 years. The reduction, which will come into effect in October 2022, will vary according to...
S&P Global Heeds Warnings, Withdraws Proposal for Insurer-Rating Changes
May 9 2022 // S&P Global Ratings said it is withdrawing a proposal to change the way it assesses risk-based capital adequacy for insurers and reinsurers. For the first time in more than 10 years S&P looked to change the manner...
Another Florida Insurer Adds Binding Arbitration Endorsement Amid Losses
May 9 2022 // Heritage Property & Casualty Insurance Co. reported more losses for the first quarter of 2022 and a spike in its combined ratio. But company officials said Friday they are taking aggressive steps, including rate...
Insurer Aviva Urges UK Government to Detail How It Will Reach Net Zero Emissions
May 6 2022 // The British government should practice what it preaches on net-zero emissions, according to insurer Aviva Plc and conservation group WWF. Having said last year that UK-based companies must detail how they will deliver on...
DOJ Antitrust Chief Warns S&P Global Over Insurer Ratings Tweak
May 5 2022 // S&P Global Inc. should “carefully consider” a proposed tweak to how it assesses the creditworthiness of bonds owned by insurance companies, the Justice Department said, warning that such a change...
AgentSync Launches Contracting Solution to Simplify the Carrier Contracting Experience Following the Acquisition of eContractPro
May 5 2022 // Insurance technology leader unveils the most efficient solution to streamline all carrier contracting needs, from managing carrier requirements to tracking producer status. Denver, CO, May 5, 2022 –– AgentSync, the...
Western Ship Insurers Terminate Cover for Russia’s Sovcomflot as Sanctions Expand
May 4 2022 // Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company...
Africa’s Largest Insurer, Samlam, Partners With Allianz on $2.1 Billion Deal
May 4 2022 // Sanlam Ltd., Africa’s largest insurer, agreed to form a joint venture with Germany’s Allianz SE that will combine their assets on the continent valued at 2 billion euros ($2.1 billion) and help the partnership...
Kentucky Becomes 21st State to Adopt Model Cyber Security Law for Insurers
May 2 2022 // Kentucky has become the 21st state to adopt a data security law that will require insurers and larger agencies to beef up measures designed to help prevent cyber attacks and data breaches. Gov. Andy Beshear in April signed...
Dog-Related Claims Cost U.S. Home Insurers Nearly $900M in 2021
May 2 2022 // Dog bites and other dog-related injuries accounted for more than one-third of all homeowners liability claim dollars paid out in 2021, costing $881 million, according to an analysis by the Insurance Information Institute...
Why Carriers Partner with Agency Networks
May 2 2022 // If you’re an independent agent who is thinking about joining a network, you probably want to know what networks can offer you. Access to the top 10 carriers is often the highest priority on an agency’s wish...
Aspen Becomes 17th Insurer to Stop Insuring Canada’s Trans Mountain Pipeline
May 2 2022 // Lloyd’s of London syndicate Aspen Insurance has decided to cut ties with the existing Trans Mountain pipeline when its current insurance policy expires this summer, according to the climate activist group, Coal...
Louisiana Insurers Have Paid or Reserved $12.1B on Ida Claims
Apr 29 2022 // Louisiana Insurance Commissioner announced insurers have paid or reserved $12.1 billion on all types of Hurricane Ida-related claims in Louisiana through March 31. This data is the second measure of damage from Hurricane...
Markets/Coverages: Home Insurer Hippo Expands to New York State
Apr 29 2022 // Hippo Insurance Services announced it will offer home insurance products in New York State. With New York, Hippo products are now in 38 states. New Yorkers will have access to Hippo’s offerings, including home...
Lloyd’s Insurer Lancashire Sees Manageable Russia-Ukraine Losses
Apr 28 2022 // Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk...
