Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
UK Insurer Beazley Sees Opportunity (and Risk) in Cyber Market
Feb 10 2022 // UK insurer Beazley Plc returned to profit last year, helped by what it sees as “encouraging” trends in the cyber market. With ransomware attacks becoming more prevalent, the company sees still more opportunity...
Three Vie for Georgia Insurance Post: Trial Attorney, Insurance Agent, Former Cop
Feb 10 2022 // Although the election is still months away, the race for Georgia insurance commissioner already is a campaign of firsts — and some strong rhetoric aimed at insurance companies and regulators. Janice Laws Robinson, an...
Pan-Nordic Insurer Sampo Reports Stronger Than Expected Q4 Earnings
Feb 9 2022 // Finnish financial group Sampo reported stronger than expected fourth quarter earnings on Wednesday boosted by its core insurance operations, sending its share up more than 2%. The pan-Nordic insurer reported a pretax...
Another Big Insurer Stops Writing Homeowners Policies in Florida
Feb 8 2022 // The Florida property insurance market is showing more signs of trouble, with one of the state’s largest carriers deciding to stop writing new homeowner business in the state – while also asking for a rate increase...
New Auto Insurer Sensa’s Device Analyzes Accident, Triggers Emergency Services
Feb 8 2022 // A new auto insurer is turning the tables on car manufacturers that offer insurance with their roadside and emergency services by including these accident services with its auto insurance policy. Austin, Texas-based Sensa...
Insurance Technology: Betterview Features Defensible Space; Clara Analytics Tackles Commercial Auto; Ascend Raises $30M for Premium Finance
Feb 8 2022 // Betterview, an insurtech provider of property intelligence to property/casualty insurance companies, now has available what it calls its Defensible Space feature that enables insurers using the company’s Remote...
Commercial Auto Among Lines With Flattening Rates in 2022, USI Forecast Predicts
Feb 7 2022 // Although it wasn’t the headline of a commercial insurance broker’s market pricing report last month, the report’s observation that “commercial auto liability coverage rates are starting to...
Insurers Deploy Predictive Analytics, Artificial Intelligence in Fraud Fight
Feb 7 2022 // Insurers are getting a larger share of suspicious claim referrals from fraud-detection technology and are increasingly using artificial intelligence to sift through data, according to a new study by the Coalition Against...
All Additional Insureds Aren’t the Same
Feb 7 2022 // For at least the past couple of decades, it seems that in just about every contract, the upstream party wants to be an additional insured (AI) on the downstream party’s insurance. Most commonly, the request is for AI...
World’s First Crypto Mortgage? Homeowners’ Insurers Don’t Hate It
Feb 7 2022 // If homeowners’ insurance carriers weren’t facing enough issues this year, here’s one more to think about: A Miami company is now offering cryptocurrency-based mortgages. Some insurance representatives are...
NBA Team Owner Buys National Security, Alabama-based Insurer
Feb 4 2022 // A holding company formed by the owner of the Sacramento Kings basketball team has agreed to purchase National Security Group Inc., an Alabama-based specialty underwriter of property, casualty and life insurance, for $41...
Natural Disasters Cost Insurers $116B in 2021, or 63% Higher Than Average: Gallagher Re
Feb 4 2022 // Insured losses from major natural catastrophes in 2021 – excluding COVID-related losses – have so far reached an estimated US$116 billion, the third largest total since 2011, and about 63% higher than the average loss...
Threat of War in Ukraine Biggest Risk for Insurers of Beijing Winter Olympics
Feb 4 2022 // The threat of war between Russia and Ukraine is the biggest risk for insurers offering coverage during the Beijing Winter Olympics as an outbreak of hostilities could force team withdrawals or appearance cancellations,...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Feb 4 2022 // Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber attack known as...
Insurer Groups Sue to Stop Washington Credit Scoring Regulations
Feb 3 2022 // The American Property Casualty Insurance Association, the Professional Insurance Agents of Washington, and the Independent Insurance Agents and Brokers of Washington jointly filed two legal actions to halt the enforcement...
Kemper Eyes Rate Hikes, Agency Cancellations to Regain Footing After Q4 Fall
Feb 3 2022 // Kemper Corp. said it is taking rating and other actions, including canceling some agents, as it seeks to recover from inflation-riddled fourth quarter financial results. Kemper Corp. reported a net loss of $105.8 million...
Eighth Circuit: Insurer Has No Duty to Defend Janitorial Service Workplace Discrimination Suit
Feb 3 2022 // The United States Court of Appeals for the Eighth Circuit said that an insurer does not have to provide coverage to a St. Louis, Missouri janitorial service company for a workplace discrimination lawsuit, affirming a...
Louisiana Department of Insurance Fines Auto Insurer $350,000 Over Improper Activity
Feb 2 2022 // Auto insurer Lyndon Southern Insurance Company has paid a maximum $350,000 fine after the Louisiana Department of Insurance performed a comprehensive market conduct examination of the company and found 32 instances of...
Florida Senate Committee Approves Actual-Cash-Value Roof Bill
Feb 2 2022 // It came later than some had expected, but Florida’s Senate Banking and Insurance Committee on Wednesday passed a much-anticipated bill that aims to close gaps left by last year’s insurance reform...
Insurers Grapple With Uncertainty Around Catastrophic Cyber Risk
Feb 2 2022 // Powered by InsuranceJournal.tv Much uncertainty exists around catastrophic cyber threats, and for an industry so focused on analyzing risk, that’s a big challenge, experts say. Some of the recent cyber attacks on...
