Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Exploring ‘New World’ of Police Officer Professional Liability
Jul 24 2020 // U.S. insurers and brokers are starting to craft professional liability coverage for police officers, spurred on by signs that policymakers in some cities and states want to use a financial stick to curb police...
Lloyd’s Insurer Beazley Reports 1st Half Loss of $13.8M on Mounting COVID-19 Claims
Jul 23 2020 // British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural...
Zurich Insurance Decides Not to Renew Cover for Canada’s Trans Mountain Oil Pipeline
Jul 23 2020 // Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous...
Northeast Insurer Plymouth Rock Assurance Launches Umbrella Coverage
Jul 23 2020 // Plymouth Rock Assurance, an auto and home insurance provider in the Northeast, has launched a new umbrella insurance product for customers across the six states in which it does business. Plymouth Rock’s new umbrella...
Committee Recommends No Rate Hike for Texas Windstorm Insurer
Jul 23 2020 // The Actuarial and Underwriting Committee of Texas’ insurer of last resort for wind and hail coverage for properties in the state’s coastal counties voted on July 21 to recommend a 0% rate increase to its board...
U.S. Cyber Insurers Face Changing Landscape; Top 20 Cyber Insurers
Jul 22 2020 // Cyber insurers have been enjoying a profitable run for several years but are now facing a changed risk landscape with data breaches, ransomware attacks, insurance claims and overall threat awareness increasing. In a...
Inconsistent Data Hinders Climate Risk Comparisons for Insurers, Banks: Regulator
Jul 22 2020 // Comparing how banks and insurers from different countries cope with climate change is being hampered by a lack of consistent data, the Financial Stability Board said on Wednesday. Regulators are asking financial firms to...
Liberty Mutual Loses Bid to Charge Employer for Claims Paid from Exempt Workers
Jul 22 2020 // A workers’ compensation insurer cannot charge an employer an extra $1.7 million in premiums for the risk presented by employees who were exempt from coverage under Iowa’s workers’ compensation law, a...
Insurer Beazley Launches Cyber and Financial Lines Insurance in Colombia
Jul 22 2020 // Specialist insurer Beazley has launched a suite of cyber and financial lines insurance products to protect against the risks facing businesses and senior executives in Colombia. Beazley has tailored an information security...
Appeals Court Rejects Florida Hotel’s Coverage Interpretation in Suit Against Insurer
Jul 22 2020 // A recent opinion by the Eleventh Circuit Court of Appeals involving a case against the insurer of a Florida hotel could clarify an issue of sublimits and have a significant impact on how policies are written in the future,...
Indiana Court: Insurers Off the Hook for Covering NCAA Athlete Aid Suit
Jul 21 2020 // An Indiana appeals court has sided with a group of insurers, saying they are not required to provide $25 million in excess coverage for an underlying lawsuit against the National Collegiate Athletic Association (NCAA) over...
January’s Hailstorms in Australia Cost Insurers an Estimated A$1.8B (US$1.3B): PERILS
Jul 21 2020 // The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that...
Mintz Adds Five to Insurance and Reinsurance Practice in Washington D.C., New York
Jul 20 2020 // Law firm Mintz has added a group of five practitioners to its Insurance and Reinsurance Practice. Deirdre G. Johnson, Paul W. Kalish, Suman Chakraborty and Ellen MacDonald Farrell joined as members, and Elaine Panagakos...
Update: COVID-19 Business Interruption Claims Take Center Stage in London Court Case
Jul 20 2020 // UK financial regulators took aim at insurers’ attempts to compare the coronavirus lockdown to government warnings on cigarettes and alcohol, telling a London court that businesses had no choice but to shut down...
China Regulator Raises Cap on Equity Investments Made by Domestic Insurers to 45%
Jul 20 2020 // China’s banking and insurance regulator said it was raising the cap on how much the country’s insurers can invest in equity assets, an effort trying to bring more long-term funds into the capital market. The...
Canadian Insurer Manulife Plans to Increase Diversity by 30% Within 5 Years
Jul 20 2020 // Manulife Financial Corp said on Friday it was making a push to increase the representation of minorities across its North American businesses, joining a host of companies that have pledged to improve racial diversity at...
Personal Lines Insurance Poised to Turn Profit in 2020 As Auto Claims Fall: Fitch
Jul 20 2020 // After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from...
China Takes Over Insurers, Other Firms Linked to Financier Missing Since 2017
Jul 17 2020 // Chinese regulators will assume control of nine financial firms that are linked to a financier who was taken from a hotel in Hong Kong by Chinese authorities in 2017 and hasn’t been seen in public since. Among the...
Coronavirus Claims of Estimated €80B Are ‘Manageable’ for Europe’s Insurers: Moody’s
Jul 17 2020 // The coronavirus outbreak has had an adverse, but manageable, impact on the European insurance sector, leading to a drop in company earnings rather than capital erosion, says Moody’s Investors Service in a...
Investors, Insurers Warned of Risk of U.S. Sanctions for Russian Pipeline Ties
Jul 17 2020 // U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage...
