Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Homeowners Insurer Openly Enters Ohio
Nov 13 2020 // Boston-based Openly is now selling homeowners insurance in Ohio. Ohio homeowners and independent agents can now buy Openly’s premium insurance, obtaining quotes in 15 seconds, according to the company’s media...
Louisiana Court Schedules Trial on First Coronavirus Business Interruption Lawsuit
Nov 12 2020 // A trial will begin Monday in what is thought to be the first lawsuit to be filed against an insurer for denying coverage for business-interruption losses caused by COVID-19 shutdown orders. Judge Paulette R. Irons ruled...
Texas Seeks Comments on Windstorm Insurer Rules, Classification for Oil, Gas
Nov 12 2020 // The Texas Department of Insurance (TDI) seeks comments on an informal draft to improve the structure of Texas Windstorm Insurance Association (TWIA) rules. These updates do not include revisions to the rule text. Visit the...
U.S. Sanctions to Target Insurers In Fight Against Russia-to-Germany Nord Stream 2
Nov 12 2020 // The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that’s been halted almost...
How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment
Nov 12 2020 // While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may...
Florida Regulator Calls for Further Workers’ Comp Rate Decrease
Nov 10 2020 // Florida’s insurance regulator has called for a further decrease to proposed workers’ compensation insurance rates in response to a filing by the National Council on Compensation Insurance (NCCI). In an order...
Philippine Insurers Under Pressure to Meet New Capital Requirement Amid Pandemic
Nov 10 2020 // AM Best believes local companies in the Philippine insurance industry will still face significant pressure on underwriting growth and profitability amid the ongoing COVID-19 pandemic with the recent rejection of a proposal...
P/C Insurers Face Workforce, Risk, Policy Challenges as Pandemic Continues
Nov 9 2020 // Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face challenges related to virus-related insurance losses and premium volume...
Insurors of Tennessee Appoints Representative Ron Travis as CEO
Nov 6 2020 // Insurors of Tennessee has named Representative Ron Travis as the new CEO for the organization, effective Nov. 16, 2020. Ron Travis Travis (R-Dayton) is a state representative for District 31 (Bledsoe, Rhea, Sequatchie and...
California Issues Moratorium on Insurers Non-Renewing or Cancelling Following Wildfires
Nov 5 2020 // California Insurance Commissioner Ricardo Lara on Thursday announced a mandatory one-year moratorium on insurance companies non-renewing or cancelling residential property insurance policies, a move he says is aimed at...
Update: UK Insurer RSA Receives $9.4B Takeover Offer From Intact Financial, Tryg
Nov 5 2020 // RSA is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that values the British firm at about 7.2 billion pounds ($9.46 billion). RSA said its board...
U.S. P/C Insurer Impairments Rise Slightly in 2019: AM Best
Nov 5 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Insurer RSA Says Pandemic Exclusions Will Limit Impact of England’s 2nd Lockdown
Nov 5 2020 // England’s second national lockdown is unlikely to have much impact on insurer RSA as many policies now have pandemic-related exclusions, its CEO said on Thursday as it reported a rise in underwriting profit in the...
Threat of U.S. Insurance Regulatory Crackdown Fades Without Democratic ‘Blue Wave’
Nov 5 2020 // Insurers appear to have dodged a revival of strict regulations and policy upheavals after an anticipated Democratic “Blue Wave,” which would have allowed progressives to push for broad reforms, failed to...
Swedish Insurer Folksam Accidentally Leaks Private Data on 1 Million Customers
Nov 3 2020 // Sweden’s largest insurer, Folksam, accidentally leaked private data on about one million of its customers to a handful of the world’s largest technology companies, it said on Tuesday. Folksam, which insures 50%...
Nigerian Insurers Expect Record Claims from Police Brutality Protests
Nov 3 2020 // Nigerian insurers are facing their biggest claims on record after protests against police brutality turned violent, leading to large-scale looting and destruction. Risk underwriters all over the country are inspecting...
UK Supreme Court to Hear Appeal of COVID Business Interruption Test Case on Nov. 16
Nov 3 2020 // The UK Supreme Court will hear an appeal on Nov. 16 of the Financial Conduct Authority’s (FCA) test case over which insurance companies should offer payouts to small businesses battered by the coronavirus...
Candidates in Hotly Contested North Carolina Insurance Race Talk Scandal, Priorities
Nov 2 2020 // The race for the next North Carolina Insurance Commissioner features two familiar faces to state voters in what is a three-peat showdown featuring Republican Mike Causey and Democrat Wayne Goodwin. Causey, the incumbent,...
Texas Nonstandard Auto Insurer, ACCC, Placed into Receivership
Nov 2 2020 // A Travis County, Texas, judge has approved an order placing a Houston-based nonstandard auto insurer into receivership. On Oct. 21, Travis County District Judge Tim Sulak signed the application by the Texas Department of...
California Pledges to Protect Homeowners from Insurer Withdrawals Due to Wildfires
Nov 2 2020 // California’s insurance commissioner in late October pledged to step up efforts to protect the state’s residents from wildfires and address a pullback of private insurers from the state’s riskiest...
