Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Allstate to Buy National General for $4 Billion, Growing Auto, Independent Agent Business
Jul 8 2020 // U.S. Insurer Allstate Corp. said on Tuesday it will buy National General Holdings Corp. for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and...
What ‘Follow the Fortunes’ Means for COVID-19 Reinsurance Claims
Jul 8 2020 // How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already...
New Ventures Seize Opportunities as Insurers Cope with Coronavirus Losses
Jul 8 2020 // Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums – tempting companies and industry veterans to raise capital, launch new businesses or expand into new...
Losses From Civil Protests May Cause Insurers to Rethink Property Coverage
Jul 8 2020 // The civil disturbance that started in Minneapolis after the killing by police of George Floyd spread to 20 other states, leading to an unprecedented property insurance catastrophe. The experience will likely impact policy...
Insurance Fraud Investigators Ramp Up During Reopening, Even as Claims Volumes Drop
Jul 7 2020 // Fraud inevitably rises after natural disasters and during economic downturns. The COVID-19 pandemic has brought both conditions to the entire globe at once. Fraud-prevention advocates have long been warning about the...
Argo’s CFO to Depart as Insurer Updates Executive Leadership Team
Jul 7 2020 // Argo Group International Holdings Ltd., the Bermuda-based specialty re/insurer, announced an update to senior leadership team responsibilities and the launch of an outside search for a chief financial officer to succeed...
Health Insurer Centene to Develop $1B North Carolina Regional Hub, Create 3,200 Jobs
Jul 7 2020 // Government health insurance provider Centene Corp. said on Wednesday it will build an East Coast campus in Charlotte, North Carolina, developing a $1 billion construction project that’s expected to create more than...
COVID-19 Treatment Remdesivir to Cost Private Insurers $3,120
Jul 6 2020 // The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and...
2020 Super Regional P/C Insurers
Jul 6 2020 // Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of...
Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jul 6 2020 // The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
Florida’s Citizens Accuses Embattled Law Firm, Others of Sham Lawsuits, Racketeering
Jul 6 2020 // Florida’s state-run Citizens Property Insurance Corp. has joined a chorus of insurance companies accusing the Strems Law Firm of lawsuit abuse. Citizens says it has lost millions of dollars due to an alleged scheme...
Washington Insurance Commissioner Wants to Ban Credit Scoring
Jul 6 2020 // Washington Insurance Commissioner Mike Kreidler is calling on the insurance industry to end its use of credit scoring in auto, property, renters and life insurance, citing the economic impact of the COVID-19 pandemic and...
Insurer Group Warns About California Bill Mandating Business Interruption Coverage
Jul 2 2020 // The American Property Casualty Insurance Association is opposing legislation that would create a rebuttable presumption that the COVID-19 virus caused property damage triggering business interruption coverage in commercial...
Update: Online Insurer Lemonade Raises $319M During U.S. Stock Market Debut
Jul 2 2020 // Lemonade Inc., the online home insurance provider backed by SoftBank Group Corp., jumped as much as 86% after raising $319 million in its U.S. initial public offering. [inline-ad-1] Shares of the company opened at $50.06...
S. African Insurers Are Pushed to Pay COVID-19 Business Interruption Claims
Jul 2 2020 // Virus-related claims from just over 500 small South African firms battling insurers who have rejected them are worth up to 4 billion rand ($232 million), the firm representing the businesses has calculated. Loss adjustment...
Fort Worth P/C Insurer, Hallmark Financial, Reports $34M Loss
Jul 1 2020 // Hallmark Financial Services Inc. (HALL) has reported a loss of $34 million in its fourth quarter. The Fort Worth, Texas-based company said it had a loss of $1.87 per share. Losses, adjusted for investment gains, were $2.01...
UK Insurers, Banks Must Be Ready to Manage Climate Risks by End of 2021: BoE
Jul 1 2020 // Banks and insurers in Britain must implement by the end of 2021 plans they have drawn up to deal with risks to their businesses from climate change, the Bank of England (BoE) said on Wednesday. The BoE previously told...
N.H. Woman Sentenced for Fraud Scheme Targeting Restaurants, Insurance Companies
Jul 1 2020 // A New Hampshire woman has been sentenced to 18 months in federal prison for participating in a mail fraud scheme targeting restaurants and insurance companies. According to court documents and statements made in court, for...
U.S. Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jun 30 2020 // The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
New York Insurance Broker Arrested, Charged in $1M Fraud Scheme
Jun 30 2020 // A New York state insurance broker has been arrested and charged with wire fraud, attempted wire fraud and aggravated identity theft and is facing a maximum penalty of 20 years in prison. U.S. Attorney James P. Kennedy Jr....
