Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Outlooks Revised to Positive for Workers’ Comp Insurer Stonetrust
May 20 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Stonetrust Commercial Insurance Co....
Insurer Aviva Will Close 3 UK Property Funds Hit by Pandemic Economic Turmoil
May 20 2021 // Insurer Aviva said it will close three UK property funds in July that have been suspended since March last year due to market uncertainty as the pandemic hit Britain’s economy. “During this period of economic...
March Storm in Eastern Canada Cost Insurers C$50 Million
May 19 2021 // A storm that moved across eastern Canada from March 26-29 brought heavy rain and strong winds, causing C$50 million (US$41.5 million) in insured damage, according to initial estimates from Catastrophe Indices and...
The Potential Liabilities for Cities, Insurers from Florida’s New ‘Anti-Riot’ Law
May 18 2021 // The right to protest in America is a fundamental right guaranteed by the First Amendment to the United States Constitution, which protects both the “freedom of speech” and the “right of the people...
Law Firms and Their Insurers Feel the Pain of Bigger Malpractice Claims
May 17 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...
COVID Is Far From the Only Risk Facing Insurers and Financial Sector Firms: Allianz
May 17 2021 // COVID-19 may drive market corrections and insolvencies that could impact financial institutions’ balance sheets, increase exposures for directors and result in litigation. However, financial institutions are also...
$6M Settlement for Men Abused at Washington Boys Home Being Paid by Insurers
May 17 2021 // Insurance companies are paying $6 million to settle a lawsuit brought against Kiwanis International and local Kiwanis clubs by seven men who were sexually abused at a Centralia group home for boys in Washington decades...
50-Plus Insurers Met Deadline to Comply With Washington’s Credit Rule
May 17 2021 // Washington Insurance Commissioner Mike Kreidler announced that more than 50 insurance companies met the May 6 deadline to file rating plans that comply with his emergency rule to temporarily prohibit the use of...
How Auto Insurers, Consumers Rode the Bumpy Year of Pandemic
May 17 2021 // The U.S. auto insurance market experienced market disruption due to pandemic-related shopping volatility, an uptick in dangerous driving, policy renewal delays and fewer claims. But by the end of 2020, shopping volumes...
California Commissioner Calls on Insurers to Do More to Boost Wildfire Prep
May 13 2021 // California Insurance Commissioner Ricardo Lara called for property insurers in the state to step up and do more to help residents and businesses deal with wildfires. Lara on Thursday gave an update on the actions and...
Arkansas Insurer to Settle Retaliation Discrimination Suit for $90K
May 13 2021 // A life insurance company based in Little Rock, Arkansas, will pay $90,000 to settle a retaliation discrimination lawsuit, federal officials say. According to the U.S. Equal Employment Opportunity Commission (EEOC), USAble...
Colonial Pipeline’s Cyber Insurers Include AXA XL, Beazley
May 13 2021 // Colonial Pipeline has cyber insurance arranged by broker Aon, with Lloyd’s of London insurers AXA XL and Beazley among the underwriters, three sources told Reuters on Thursday. Colonial Pipeline has begun to restart...
What Cyber Insurers Should Know About the Federal Ransomware Advisories
May 13 2021 // As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various methods cyber attackers are using, ransomware has continued to steal the spotlight. Ransomware is a...
Washington Commissioner’s Captive Insurer Bill Signed into Law
May 13 2021 // A bill to provide a framework to captive insurers doing business in Washington became law after Gov. Jay Inslee signed the legislation on Wednesday. Second Substitute SB 5315, which was requested by Insurance Commissioner...
U.S. Hailstorms that Cost Insurers Billions – and Other April Natural Disasters: Aon
May 12 2021 // Insurers face multi-billion-dollar losses from U.S. hailstorms during April, according to Aon’s Global Catastrophe Recap report, which each month analyzes the impact of natural disaster events worldwide. The report...
eMaxx Platform Eases Insurer Entry Into Captive Market
May 12 2021 // Commercial managing general agent eMaxx has expanded its turnkey platform for insurance companies to make it easier for them to enter the fast-growing captive market. The alternative risk specialist’s platform...
Amazon-Backed India Insurer Startup Eyes Funding Round that Could Create $1B Value
May 12 2021 // Acko General Insurance Ltd. is weighing a new funding round that could value the Indian online insurer at more than $1 billion, according to people familiar with matter. The Amazon.com Inc.-backed startup is looking to...
3 Florida Insurers to Drop Thousands of Policies, Make Moves to Stay Afloat
May 12 2021 // More than 50,000 Florida policyholders will soon be looking for a new carrier for their homeowners insurance after three Florida-based companies were approved by the state regulator to drop the policies. The moves come...
Insurer American National Group Exploring Options Including Possible Sale -Reuters
May 11 2021 // U.S. insurer American National Group Inc. is exploring options that could include a sale of the company, people familiar with the matter told Reuters on Tuesday. The news sent shares of American National spiking to their...
Carriers Struggle To Transform Innovation Efforts Into Results: AM Best
May 11 2021 // Although COVID-19 forced many insurers to seek out innovative solutions, most companies still have room for improvement, according to rating agency AM Best. In a recent analysis of innovation assessment scores, which the...
