Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. Pet Insurer Trupanion Plans Overseas Growth, Hiring Agria’s Wheeler to Lead Expansion
Jun 17 2021 // Trupanion, the Seattle-based medical insurer for cats and dogs, announced it has hired Simon Wheeler as its executive vice president of International Business. A 30-year veteran of the animal health industry, Wheeler will...
How to pick an E&S carrier: Four characteristics to look for
Jun 16 2021 // This post is part of a series sponsored by The Hanover Insurance Group. The excess and surplus market is growing rapidly. Business is being driven from the admitted market due to actions taken in response to significant...
Michigan to Insurers: Zero-Dollar Claim Is Not a Loss
Jun 16 2021 // Michigan insurance regulators are reminding property/casualty insurers that relying on “zero-dollar claim” in their insureds’ loss history is not allowed. In Bulletin 2021-27-INS, issued by Michigan...
New Mexico AG Opposes California’s Blocking of California Insurance Company’s Redomestication
Jun 15 2021 // New Mexico’s Attorney General has moved to intervene in a lawsuit in which the California Insurance Co.’s is fighting actions by the California Department of Insurance to block CIC’s redomestication to...
Insurors Indemnity to Buy Colonial Lloyds, Expanding Residential Coverage
Jun 15 2021 // Waco, Texas-based Insurors Indemnity has signed a definitive agreement to purchase insurance carrier Colonial Lloyds, headquartered in Fort Worth, pending regulatory approval. Colonial Lloyds has been serving the Texas...
Major UK Asset Manager Divests from Insurer AIG over Climate Policies
Jun 15 2021 // Legal & General Investment Management will sell holdings in four companies including U.S insurer American International Group Inc. after deeming they’re making insufficient progress on addressing climate change...
New Jersey USPS Mail Carrier Charged with Workers’ Compensation Fraud
Jun 10 2021 // A New Jersey U.S. Postal Service (USPS) mail carrier has been charged with making false statements to obtain federal workers’ compensation benefits. Aida Perez, of Roselle Park, New Jersey, has been charged by...
Volkswagen’s D&O Liability Insurers Agree to Pay €270M of Diesel Emissions Payout
Jun 10 2021 // FRANKFURT — Volkswagen said on Wednesday it had agreed to settle claims against four former executives, including long-time CEO Martin Winterkorn, that will see the carmaker receive 288 million euros ($351 million)...
China Regulator Orders Large Insurers, Banks to Prepare ‘Living Wills’ to Handle Risks
Jun 10 2021 // BEIJING — China’s banking and insurance watchdog issued rules on Wednesday requiring sizable banks and insurers to prepare recovery plans in the unlikely event that they run into financial trouble, as the regulator...
Embroker, with Plan to Become Full-Stack Insurance Carrier, Raises $100M
Jun 9 2021 // Embroker, a digital broker focused on business insurance, aims to become a full-stack insurance carrier – an expansion of its strategy enabled by $100 million in new venture capital financing. The money infusion will...
Swedish Activist Investor Cevian Buys 4.95% Stake in UK Insurer Aviva
Jun 9 2021 // Swedish activist investor Cevian Capital AB has bought almost 5% of Aviva Plc, placing it among the insurer’s top three holders. Christer Gardell, managing partner at Cevian, said the Stockholm-based investor now...
Forgotten Your Passwords? They Soon May Be Lost Altogether – with Insurers’ Help
Jun 9 2021 // The most popular password in 2020 was exposed almost 24 million times and took less than a second to crack. While a shocking statistic, when you learn that the most popular password of 2020 was “123456,” this...
Washington, California Urge Insurers to Adopt Task Force Climate Reporting Guidelines
Jun 8 2021 // Washington Insurance Commissioner Mike Kreidler and California Insurance Commissioner Ricardo Lara are askikng all insurers that are currently required to report to them annually on climate change to start reporting their...
Global Insurers Face Hefty Costs of $15B-$20B to Implement IFRS 17: WTW
Jun 8 2021 // The total cost faced by the global insurance industry to implement IFRS 17 is estimated to be in the range of US$15 billion-$20 billion, according to a new global survey by Willis Towers Watson. While the estimated costs...
Bank of England Launches Climate Change Stress Test for Insurers, Banks
Jun 8 2021 // The Bank of England on Tuesday set out its first comprehensive stress test of the ability of the British financial system to cope with climate change, saying the results will not be used to determine capital requirements...
Florida Top Court Says Insurer Can Pursue Malpractice Claim Against Defense Law Firm
Jun 8 2021 // Attorneys who are hired by insurance carriers to defend policyholders from lawsuits have a duty to represent the insured, but the insurer is paying their fees. Obviously, the insurer has a financial interest in the outcome...
Italian Insurer Cattolica Delays €200M Cash Call due to Generali’s Recent Takeover Offer
Jun 8 2021 // MILAN – Italian insurer Cattolica said on Monday it had decided to delay a planned 200 million euro ($244 million) cash call to give its shareholders the chance to take up a buyout offer by bigger peer Assicurazioni...
Law Firms and Their Insurers Feel the Pain of Bigger Malpractice Claims
Jun 7 2021 // Even as law firms made adjustments to sustain their operations through the COVID-19 pandemic, they were unable to avoid the rising costs of malpractice claims. Indeed, the time period beginning in 2019 through mid-2020...
Arkansas Commissioner: Insurers Can’t Mandate Use of Designated Auto Repair Shop
Jun 4 2021 // Arkansas Insurance Commissioner Alan McClain is reminding insured Arkansans seeking automobile repairs that insurance companies cannot require automobile repairs be done at a specific repair shop. “If an insurer...
Insurers Must Totally Reassess Approach to ‘Grim’ Cyber Insurance Market: AM Best
Jun 4 2021 // With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, “prospects for the U.S. cyber insurance market are grim,” according to an AM Best...
