Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Appeal Courts Side with Insurers in Attorney Fees, AOB and PIP Cases
Feb 23 2022 // From attorneys’ fees to water damage to reimbursement limits in no-fault auto insurance, Florida appeals courts have sided with insurers in several cases in recent days. Here’s a look: Attorney Fees and Another...
Prospective Investors in Giant LIC IPO Worried About Gov’t Control of Insurer: Sources
Feb 22 2022 // Prospective investors in Life Insurance Corp. of India’s (LIC) $8 billion IPO are seeking assurances from company management that it will not sacrifice their interests to meet the goals set out by the government, its...
UK to Ease Solvency II Insurance Capital Rules to Unlock ‘Billions of Pounds’
Feb 22 2022 // Britain will unlock “tens of billions of pounds” of insurance sector capital that should boost the economy through infrastructure investment, financial services minister John Glen said on Monday. The...
Another Big Insurer Stops Writing Homeowners Policies in Florida
Feb 21 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...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Feb 21 2022 // In January, 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...
How Car, Home Inflation Is Driving Up Loss Costs for Insurers
Feb 21 2022 // The two possessions that most concern insurers — homes and motor vehicles — happen to be the largest contributors to the historic 7.5% inflation rate. Perhaps that should be no surprise. “It’s the...
How Do You Know When It’s the Right Time to Partner With a Network?
Feb 21 2022 // Worried about what could be next for your agency? It has been a chaotic couple of years — and many forward-thinking businesses are focused on improving revenue, expanding their client base and future-proofing their...
Insurers Could Get Lower Rates on Liquidity with Bills in States
Feb 21 2022 // Many in the insurance industry may think of the Federal Home Loan Bank as an agency that facilitates affordable mortgages for homes. The system, founded in the waning days of the Herbert Hoover administration to support...
New Auto Insurer Sensa’s Device Analyzes Accident, Triggers Emergency Services
Feb 21 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...
Insurtech Startup Slide Agrees to Take On Troubled St. Johns HO Business
Feb 18 2022 // Things are moving fast in Florida’s distressed property insurance market. Just days after St. Johns Insurance Co. announced it would stop writing new homeowner business in Florida, the Demotech rating agency withdrew...
India’s State-Run Insurer LIC Set to Launch Record $8 Billion IPO on March 11: Sources
Feb 18 2022 // A public offering of shares by India’s state-run Life Insurance Corp (LIC), set to be the country’s biggest yet at $8 billion, is expected to open for anchor investors on March 11, three sources with direct...
Canada’s Crackdown on Trucker-Protest Funding May Be Challenge for Insurers, Banks
Feb 18 2022 // Canada roped in banks to help cut funding to protesters against COVID-19 mandates this week, but the requested speed and broad scope of the measures leaves financial institutions to their own devices in enforcing most of...
Appeals Court Finds GEICO Did Not Act in Bad Faith in Fatal Florida Crash Claim
Feb 18 2022 // In a case that went all the way to the federal appeals court level, a panel of judges has found that GEICO General Insurance adequately investigated a Florida claim after an insured motorist killed a cyclist, and did not...
Insurers Taking Battle with Commissioner to Washington Supreme Court
Feb 17 2022 // Insurer groups this week sought to take their battle with Washington Insurance Commissioner Mike Kreidler to the Supreme Court of Washington. The American Property Casualty Insurance Association, the Professional Insurance...
4 Insurers, 5 Policies to Pay $73M Sandy Hook Settlement Against Gunmaker Remington
Feb 17 2022 // A federal bankruptcy court in Alabama has approved insurance payments totaling $73 million by four insurers to the families of the victims of the Sandy Hook massacre. The settlement with gunmaker Remington Arms and its...
French Insurer CNP to Stop Financing New Oil/Gas Projects to Help Limit Global Warming
Feb 17 2022 // France’s CNP Assurances CNPP.PA will no longer finance new oil and gas projects or invest more money in companies planning to do so, joining the growing ranks of insurers taking a more pro-active approach to tackling...
Wisconsin High Court Limits Bodily Injury Coverage to Insured Persons
Feb 17 2022 // An auto insurer is not required to pay underinsured motorist benefits to the son of man who was killed in an auto crash because the father was not insured by its policy, the Wisconsin Supreme Court ruled Tuesday in an...
Six Years After Deadly Police Chase, Georgia High Court Limits Insurer’s Obligation
Feb 17 2022 // The headlines in 2016 provoked an outcry across Georgia: A man stole a car near the Atlanta airport, fled from police in a high-speed chase, then crashed into another vehicle, killing a woman and her two grandchildren. Six...
Florida Insurance Rescue Bills Move Closer to Becoming Law
Feb 17 2022 // Two bills that many in the insurance industry hope will solve some of Florida’s worsening property insurance problems moved a step closer to becoming law Wednesday when they passed a key Senate subcommittee. The...
Rating Upgrades Increase for U.S. P/C Insurers in 2021
Feb 16 2022 // Ratings for the U.S. property/casualty industry returned to pre-pandemic levels with some companies strengthening balance sheets and improving operating results, said financial strength rating agency AM Best. In 2021 the...
