Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer UK Club Says Suez Canal Ship’s Reduced Claim Is Still Too Big
May 10 2021 // CAIRO – UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600 million to free the vessel and...
How Auto Insurers, Consumers Rode the Bumpy Year of Pandemic
May 10 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...
Insurers Seek to Find Ways to Make Pandemics Insurable
May 10 2021 // LONDON – When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business...
Insurer Sues West Virginia Gov.’s Company for Failure to Pay Deductibles
May 10 2021 // An insurance company alleges in a federal lawsuit that a company run by West Virginia Gov. Jim Justice and his adult children owes $166,000 for workers’ compensation and employers’ liability coverage...
Insurer AXA to Stop Paying for Ransomware Crime Payments in France
May 9 2021 // In an apparent industry first, the global insurance company AXA said Thursday it will stop writing cyber-insurance policies in France that reimburse customers for extortion payments made to ransomware criminals. AXA, among...
50-Plus Insurers Met Deadline to Comply With Washington’s Credit Rule
May 7 2021 // Washington Insurance Commissioner Mike Kreidler announced today 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...
COVID Is Far From the Only Risk Facing Insurers and Financial Sector Firms: Allianz
May 6 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...
Insurer Disappointed After Egyptian Court Upholds Detention of Tanker Ever Given
May 6 2021 // CAIRO – An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its detention, a...
Insurers Warn Canada’s Moving Too Slowly on Flood Mapping
May 6 2021 // OTTAWA – Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of...
$6M Settlement for Men Abused at Washington Boys Home Being Paid by Insurers
May 5 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...
‘A-‘ Rating Assigned to Texas Insurers, Southlake Specialty and Westlake Specialty
May 5 2021 // AM Best has assigned a financial strength rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Southlake Specialty Insurance Co. (SSIC) and its subsidiary, Westlake Specialty Insurance Co.,...
Bill in Colorado Would Prohibit Insurer Use of ‘Discriminatory’ Data
May 5 2021 // Colorado lawmakers are considering a bill that would prohibit insurance companies from using consumer information collected from outside sources such as social media and court and home ownership records to determine...
French Regulator Urges Insurers, Banks to Speed Climate Change Response
May 5 2021 // French banks and insurers should speed up their response to climate change, France’s banking regulator said on Tuesday, after publishing what it called the world’s first climate-related stress test of...
Employers, Insurers See Virtual First-Care Medical Visits Becoming Routine
May 4 2021 // Make telemedicine your first choice for most doctor visits. That’s the message some U.S. employers and insurers are sending with a new wave of care options. Amazon and several insurers have started or expanded...
Insurers Expected to Expand Use of Drones to Survey Damage With Rule Change
May 3 2021 // New Federal Aviation Administration (FAA) rules are expected to clear the way for expanded commercial use of drones, which are increasingly being used by insurers to assess property damage. The updated Operations Over...
Insuring Cannabis Webinar Take Home: Carriers, Brokers Waiting on Sidelines
May 3 2021 // There may be many more carriers and brokers waiting on the sidelines of the insuring cannabis sector to get in than most may realize. That was among the messages delivered by experts during Insurance Journal’s...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
May 3 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
Pennsylvania Regulator Asks Insurers To Assess Pandemic’s Impact in Rate Filings
Apr 30 2021 // The Pennsylvania Insurance Department has issued guidance for property/casualty insurers in the state to continue to assess the impact of the COVID-19 pandemic in rate filings. “Much has changed since the start of...
HG Holdings to Acquire National Consumer Title Insurer From Southern Fidelity
Apr 30 2021 // North Carolina-based HG Holdings said it has agreed to acquire 100% of the equity of Florida-based National Consumer Title Insurance Co. from Southern Fidelity for for $5.5 million. The deal also includes 100% of the...
U.S. Supreme Court Hands Texas Insurers a Win in Air Ambulance Billing Battle
Apr 28 2021 // A 2020 decision by the Supreme Court of Texas that limits workers’ compensation air ambulance payments to what is “fair and reasonable,” has been allowed to stand by the U.S. Supreme Court, according to...
