Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
March 2021 Floods in New South Wales, Queensland Cost Insurers A$688M: PERILS
Mar 28 2022 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has disclosed its fourth and final industry loss estimate for the New South Wales and Queensland floods, which...
Trade Credit Insurer Euler Hermes Rebrands as Allianz Trade
Mar 28 2022 // Euler Hermes, the world leader in trade credit insurance, has rebranded as Allianz Trade. The company described the name change as a natural move because it has been “fully part of the Allianz Group since...
France’s AXA Stops Re/insuring Russian Insurers, Assets
Mar 28 2022 // French insurer AXA said on Friday that it has stopped all new investments in Russian assets and would no longer underwrite reinsurance of the country’s insurance companies. It said it had stopped underwriting new...
Sick Montana Workers Allege Insurer Delaying Medical Payments
Mar 25 2022 // Attorneys for Montana mine workers sickened and killed by toxic asbestos exposure filed a lawsuit against Zurich American Insurance this week for allegedly stalling legal settlements and medical payments after transferring...
Kentucky Lawmakers Approve Bill to Give Insurers Lower Rates From Home Loan Bank
Mar 25 2022 // Kentucky’s General Assembly has become the only legislature so far this year to adopt a bill that could give insurers lower rates on commercial loans from the Federal Home Loan Bank system. The Kentucky Senate this...
UK’s Asset Freeze of Russian Shipping Firm Sovcomflot Causes Problems for Re/Insurers
Mar 25 2022 // Russia’s top shipping company Sovcomflot (SCF), already struggling to find berths to discharge cargoes, is facing fresh pressure after the UK on Thursday joined countries that have slapped sanctions on it, with...
Generali Investor Wants Insurer to Be Multinational ‘With Italian Sovereignty’: Report
Mar 25 2022 // Francesco Gaetano Caltagirone, a leading investor in Generali, wants Italy’s top insurer to grow into a big multinational “with Italian sovereignty,” the business tycoon was quoted as saying on...
Japan’s Powerful Earthquake Estimated to Cost Insurers $2 Billion-$4 Billion: Verisk
Mar 24 2022 // The powerful earthquake that jolted Japan’s northeast coast last week is expected to cause insured property losses between $2 billion and $4 billion, modeling firm Verisk said on Thursday. About $400 million to $820...
Court Denies Insurer Use of Multiple Exclusions to Dodge Defending Insured
Mar 24 2022 // Everest Indemnity Insurance Co. is on the hook to defend an insured alleged to have improperly installed a fire suppression system under its errors and omissions policy because its various exclusions were, at best,...
New York Medical Malpractice Insurer EmPRO to Enter New Jersey
Mar 23 2022 // New York medical malpractice insurer EmPRO Insurance Co., a subsidiary of Physicians’ Reciprocal Insurers, said it is expanding into New Jersey. It has filed to become an admitted insurer in New Jersey and plans to...
Insurers, Brokers Among Those Named World’s Most Ethical Companies
Mar 22 2022 // Two property and casualty insurers and two brokers were included within a list compiled by Ethisphere of the most ethical companies in the world. The 16th annual report from Ethisphere, a company that defines and measures...
Aviation Re/insurers Face Claims as High as $10B From Planes Grounded in Russia
Mar 22 2022 // Insurers and reinsurers could face claims as high as US$10 billion in a worst-case scenario due to the grounding of planes in Russia, Fitch Ratings said. More than 500 planes that are financed or owned by non-Russian...
Financial Market Volatility From Russia-Ukraine War Likely to Affect European Insurers
Mar 22 2022 // The Russia-Ukraine war is more likely to affect the European insurance sector through second-order financial market volatility than through direct effects from sanctions, according to Fitch Ratings. The rating agency...
Florida Insurers Cry Foul Over Slide’s ‘Favored’ Treatment in St. Johns Insolvency
Mar 21 2022 // The news that a startup Florida insurance company will assume $400 million in policies from the now-insolvent St. Johns Insurance Co. – without input from other carriers – has set tongues wagging and emails...
Georgia Insurance Commissioner Urges Insurers to Divest Their Russian Assets
Mar 18 2022 // King The Georgia insurance commissioner has joined his California counterpart in calling on insurers to divest their Russian business interests in the midst of the bloody Russian invasion of Ukraine. “The fact that...
Aircraft Insurers Brace for Barrage of Russia Claims in Possibly Biggest Aviation Loss
Mar 18 2022 // Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of...
6th Circuit: Insurer’s Hefty Penalty on Employer’s Audit Non-Compliance Will Stand
Mar 17 2022 // A workers’ compensation insurance company’s hefty penalty against its non-compliant insured will likely stand, after a federal appeals court found that the matter was governed by state insurance regulators, not...
Thailand Regulator Orders 2 Non-Life Insurers to Stop Accepting New Clients
Mar 17 2022 // Thailand’s insurance regulator ordered Southeast Insurance Pcl and Thai Insurance Pcl to stop taking new clients and sell some assets after their capital fell below the legally required levels. The non-life units of...
Burn the Client or Burn the Carbon? Insurer AXA Grapples With Clean Energy Transition.
Mar 17 2022 // The glass tower in Paris where AXA SA, one of the world’s largest insurers, has its temporary headquarters looks as if a giant feral cat has ripped chunks out of it. In recent months that jagged feeling extends...
Prime Insurance Company Announces Underwriting Leadership Promotions
Mar 16 2022 // Chicago, IL USA, March 16, 2022 — Rick J. Lindsey, President, CEO and Chairman of Prime Insurance Company recently announced Richard Bryant to the position as President of Underwriting. Richard joined Prime Insurance...
