Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Auto Insurer’s Online System Breach Tied to Unemployment Fraud
Dec 20 2024 // Noblr, a USAA Insurance subsidiary offering insurance through an online quoting application, will pay $500,000 following a data breach that New York officials say affected 80,000 people and led to fraudulent unemployment...
European Insurers’ Fundamentals Resilient to Moderating Premium Rates, Falling Yields
Dec 19 2024 // European insurers approached the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to present more challenges, with...
AM Best Report Cites MGA’s Role in Insurer Insolvencies
Dec 18 2024 // This story has been edited for clarity. In May of 2022, as Florida lawmakers debated solutions to the Florida property insurance crisis, a number of Democrats in the state Senate argued litigation and roof claims were not...
Troubled New York Taxi Insurer Sues 180 Providers in Huge No-Fault Fraud Case
Dec 17 2024 // New York’s largest taxi insurer that is facing serious financial and regulatory challenges has filed a lawsuit seeking more than $450 million against medical providers it alleges have been part of a huge fraud scheme...
International, Domestic Insurers Push Into Catastrophe-Hit US Property Markets
Dec 16 2024 // International and domestic insurers are pushing into the U.S. market for hard-to-protect homes, charging high premiums and enjoying strong profits after some U.S. firms pulled out. Rising losses from storms, hurricanes and...
Swiss Insurer Helvetia’s Cost-Saving Plans Will Impact About 500 Jobs: CEO
Dec 16 2024 // Swiss insurer Helvetia plans to cut jobs and relocate some workers as part of an efficiency program aimed at saving about 200 million francs ($224 million) over the next three years. The measures will affect around 500...
Offshore Driller Asks Judge to Block Insurers’ Demands for $250M Collateral
Dec 13 2024 // W&T Offshore, an independent driller operating in the U.S. Gulf of Mexico, has asked a federal judge to block insurance companies’ demands for $250 million in additional collateral for taking apart old oil...
New York Considers Making Property Insurers Cover Taxi Claims Losses
Dec 12 2024 // New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans. That measure is one of several...
Top Carriers Connecting: How Agents Rank Insurers On Digital Experience
Dec 12 2024 // Carriers are on the hunt for quality agencies to make new appointments, according to a new report, which also found that the top way they’re finding them is at industry tradeshows and events. While face-to-face...
Hermes Family in Talks to Invest in French Insurer Albingia
Dec 12 2024 // A family office backed by members of the Hermes fortune are among the likely buyers of French insurer Albingia, in an investment that signals a goal to diversify their wealth away from luxury. Krefeld Invest, the family...
Fitch: US P/C Insurers Hold at Neutral for 2025
Dec 12 2024 // U.S. property/casualty insurers are positioned favorably heading into 2025, Fitch Ratings forecasted in its annual outlook report. Citing “a strong personal lines turnaround” and “resiliency following an...
Uber Warns NYC Response to Insolvent Taxi Insurer Exposes Drivers
Dec 11 2024 // Uber Technologies Inc. is asking New York City’s taxi regulator to reconsider proposed changes to commercial auto insurance requirements, saying they may unintentionally leave thousands of drivers in one of the...
Large UK Insurers to Report Daily Cash Positions During Crises Under New Proposals
Dec 11 2024 // Large British life insurers would need to report their liquidity positions daily during market crises under new rules proposed on Wednesday by the Prudential Regulation Authority, after it identified information gaps...
Insurers’ Climate Losses Almost Match Premiums From Fossil Fuels
Dec 10 2024 // Top insurance companies suffered $10.6 billion of climate-attributed losses this year, just shy of the $11.3 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our...
Failure to Produce Proof of Purchase Dooms Insurer’s Product Liability Case
Dec 6 2024 // A federal court in Pennsylvania recently affirmed that plaintiffs seeking to hold a seller or distributor liable for a faulty product must provide clear evidence of where they purchased their product. In a homeowners...
UK Insurer Aviva Said to Boost Direct Line Takeover Bid to £3.4 Billion
Dec 5 2024 // Aviva Plc has increased its offer for Direct Line Insurance Group Plc to about £3.4 billion ($4.4 billion), days after its initial proposal to buy the UK motor insurer was rejected, people with knowledge of the matter...
Insurer Fortegra Launches Subsidiary in UK
Dec 4 2024 // The Fortegra Group Inc., the Jacksonville, Florida-based specialty insurer and subsidiary of Tiptree Inc., announced it has received regulatory approval to launch a UK subsidiary, called Fortegra Insurance Company UK. The...
Inigo Owners Said to Weigh Options for Lloyd’s of London Insurer
Dec 4 2024 // The owners of Inigo Ltd. are exploring options for the British specialist insurance group including a potential sale, according to people familiar with the matter. The shareholders, which include buyout firm JC Flowers...
Private Equity Tie-Ups With Insurers Create Risks, BOE Says
Dec 2 2024 // Private equity’s advance into the insurance sector exacerbates the risk of “fire sales” that disrupt the functioning of financial markets, the Bank of England warned. A growing number of PE firms in the...
Insurer Says Pollution Exclusion Sinks Coverage for Pool Chemical Injuries
Nov 26 2024 // A commercial general liability policy with a pollution exclusion does not protect a Virginia homeowners association from lawsuits filed by swimmers alleging they were injured by chemicals discharged into the community...
