Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
IVANS Survey Finds Agencies and Insurers Seek Greater Connectivity
Feb 17 2021 // Both agents and insurers express strong support for agent-insurer connectivity and digital collaboration in distribution and servicing. On agency demand for connectivity, 71% of agencies rank the availability of digital...
Progressive to Buy Transportation Insurer Protective for $338 Million
Feb 16 2021 // The Progressive Corp. is acquiring Indiana-based trucking industry insurer Protective Insurance Corp. in a move that will increase its stake in the commercial lines insurance market. Progressive has agreed to pay $23.30...
Insurors of Tennessee Promotes Layman, Smith
Feb 16 2021 // Insurors of Tennessee has promoted Jim Layman to general counsel and appointed Daniel Smith as chief operating officer. The two will continue in their efforts to help grow the association – which represents independent...
Irish Regulator Presses Insurers to Pay COVID-19 Claims Following Court Ruling
Feb 12 2021 // Ireland’s central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action by the...
Finnish Insurer Sampo Books Q4 Loss on Banking Group Stake
Feb 12 2021 // Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro ($1.09 billion) impairment charge due to a revaluation of its shares in banking group Nordea. The unexpected...
Bond Insurer MBIA Agrees to Settle Mortgage Claims Against Credit Suisse
Feb 12 2021 // New York-based municipal bond insurer MBIA Inc.’s unit MBIA Insurance Corp. entered an agreement to settle a litigation it filed in 2009 against lender Credit Suisse and certain affiliated entities over property debt...
UK Insurers Not Likely to See Cuts in Capital Requirements After Brexit: Bank of England
Feb 10 2021 // The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill...
AI Startup that Uses AI and Partners with Re/insurers, Now Is Seeking Canadian IPO
Feb 10 2021 // Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its finances and repay...
Insurers Overwhelmed by Demand for D&O Coverage for Blank Check Companies
Feb 10 2021 // The SPAC boom is overwhelming a key player in the creation of a blank-check companies: insurers. Firms selling directors-and-officers liability policies for special purpose acquisition companies have been flooded by the...
P/C Insurers’ Net Income for 9 Months Fell 27% on Effects of Catastrophes
Feb 9 2021 // In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the...
N. Zealand Stock Exchange Cyber Attack also Targeted Insurers, Banks, Financial Firms
Feb 9 2021 // More than 100 banks, exchanges, insurers and other financial firms worldwide were targets of the same type of cyber attack that crippled the New Zealand Stock Exchange in August, though they didn’t suffer the same...
Applied Underwriters Closes on Acquisition of Centauri Insurance Companies
Feb 8 2021 // Applied Underwriters has completed its acquisition of Centauri Specialty Insurance Co. and Centauri National Insurance Co., based in Sarasota, Florida. Florida, Louisiana and Texas regulators have approved the transaction....
Consumers and Insurers’ Use of Personal Data
Feb 8 2021 // If it means reduced premiums, consumers are willing to share their personal information with insurers but they question whether insurers can protect their data. The number of consumers willing to share significant data on...
Study: 40 Out of 120 Texas Workers’ Comp Insurers Are ‘High Performers’
Feb 5 2021 // Forty workers’ compensation insurance carriers out of 120 assessed in Texas scored high enough to be placed in the “high performer” tier in a study recently released by state workers’ comp...
Australian Insurers Declare Catastrophe for Perth Hills Bushfires
Feb 5 2021 // The Insurance Council of Australia (ICA) has declared a catastrophe for the Perth Hills bushfires which continue to burn north-east of Perth. Insurers have received more than 270 claims and estimated loss value is over...
Mosaic Launches Bermuda-Based Specialty Insurer, Along with Lloyd’s Syndicate 1609
Feb 4 2021 // Mosaic, a Bermuda-based global specialty insurer, has launched operations in Bermuda, London, the United States and Asia, along with a newly formed Lloyd’s syndicate. Operating with initial capitalization of $185...
New York Regulator Issues Guidance for Insurers Writing Cyber Policies in the State
Feb 4 2021 // The New York State Department of Financial Services (DFS) has issued new guidance spelling out best practices for New York-regulated property/casualty insurers that write cyber insurance. This serves as the first guidance...
‘A-‘ Rating Assigned to Illinois Workers’ Comp Carrier Pekin Select Insurance
Feb 3 2021 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Pekin Select Insurance Co. (PSIC), headquartered in Pekin, Ill., a subsidiary of Pekin...
North Carolina Tops 1K Captive Insurers in 7 Years
Feb 2 2021 // The North Carolina Department of Insurance has approved or licensed more than 1,000 risk-bearing captive entities (including conditional licenses and approvals) since its captive program inception in 2013 through year-end...
Homeowners Insurer, Openly, Expands Into Wisconsin
Feb 2 2021 // Openly, based in Boston, is now offering its homeowners insurance products and services in Wisconsin. More than 500 independent agents across the state can now access Openly’s technology that simplifies the...
