Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
How Florida’s Strained Insurance Market is Facing COVID-19, Hurricane Season
Jun 3 2020 // From the threat of insurer ratings downgrades to mounting carrier losses because of excessive litigation to increasing insurance rates, Florida’s insurance market got off to a rocky start in 2020. Then came the...
Riots in Wake of Floyd’s Death Could Become Most Costly Civil Disorder for Insurers
Jun 3 2020 // Rioting that erupted in cities across the country after peaceful protests mourning the death of George Floyd in Minneapolis may rival the 1992 Los Angeles riots to become the most costly civil disorder for insurers in...
Texas Workers’ Comp Division Issues Data Call for COVID-19 Injuries
Jun 2 2020 // The Texas Department of Insurance, Division of Workers’ Compensation (DWC) has issued a mandatory data call for certain information related to COVID-19 injuries reported to selected insurance carriers on or after...
Michigan Orders Auto Insurers to Issue COVID-19 Refunds or Waivers
Jun 2 2020 // Auto insurers in Michigan have been ordered to issue refunds or premium waivers to policyholders due to reduced driving and resulting decrease in risk to insurers brought on by the stay at home orders related to the...
How COVID-19 Court Lockdowns May Turn the Social Inflation Tide
Jun 2 2020 // Defense attorney Ellen Greiper reported receiving more than the usual number of phone calls from plaintiffs attorneys earlier this month, suggesting that the call dynamics could be signaling a COVID-driven change in social...
Pandemic Stay-at-Home Experience Raises P/C Insurers’ Bar for Delivering Digitally
Jun 2 2020 // Significant investments in direct-to-consumer website and mobile design have helped property/casualty insurance companies improve their digital service and shopping experiences. Consultants at J.D. Power say insurers have...
Italy’s Regulator Asks Insurer Cattolica to Boost Its Capital by $557M on COVID-19 Impact
Jun 1 2020 // Cattolica Assicurazioni said on Monday that Italy’s insurance regulator had told it to raise 500 million euros ($557 million) after the coronavirus crisis knocked its solvency ratio, a measure of financial...
Pandemic-Hit Re/insurers Expect a Costly Hurricane Season – and Rates Are Rising
Jun 1 2020 // The official start of the Atlantic hurricane season on Monday could signal more steep losses for insurers and reinsurers, already battered by the impact of the coronavirus pandemic on their underwriting and investment...
British Regulator Enlists 8 Insurers in Pandemic Test Case of Business Interruption Cover
Jun 1 2020 // Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should pay out millions of pounds to companies hit by the coronavirus pandemic, the industry regulator said on...
Coronavirus Business Interruption Suits Top 100; More Expected
Jun 1 2020 // A federal court has received notice that 101 lawsuits have been filed as of late May seeking coverage from insurers for business interruption losses caused by COVID-19. Plaintiffs attorneys say they expect the number to...
Texas Windstorm Insurer Lays Out Funding Plan for 2020 Hurricane Season
Jun 1 2020 // The board of directors of Texas’ property insurer of last resort for wind and hail in the state’s coastal counties in February set a goal of $4.2 billion in catastrophe funding for 2020. At a meeting of the...
When Insurers Deny Claims, Brokers Are Next in Line for Allegations of Wrongdoing
Jun 1 2020 // In the wake of government orders shutting down or seriously limiting the operations of businesses to deal with the COVID-19 outbreak, many affected businesses have turned to their insurers for coverage. This has led to a...
Stress Testing Shows Most Insurers to Withstand Pandemic Hit
Jun 1 2020 // Analysts at the AM Best ratings firm say their initial stress tests of insurance companies globally to gauge the preliminary impact from the COVID-19 pandemic on their financial strength found good news: “most...
Insurer Group Has Issue with Colorado Insurance Department’s COVID-19 Memo
May 29 2020 // The American Property Casualty Insurance Association is taking issue with tentative plans by the Colorado Department of Insurance to halt the use of credit information in Colorado during the pandemic. A recent draft...
Texas Windstorm Insurer Outlines Funding for 2020 Hurricane Season
May 29 2020 // The board of directors of Texas’ property insurer of last resort for wind and hail in the state’s coastal counties in February set a goal of $4.2 billion in catastrophe funding for 2020. At a meeting of the...
California Lawmakers Move Toward Risk-Based Rates
May 28 2020 // As the Soviet Union ultimately learned the hard way, price controls are a guaranteed way to prolong shortages. It has taken a few years, but there are promising signs California lawmakers may finally be ready to learn the...
Australia’s 4 Summer Natural Disasters Cost Insurers More Than US$3.44 Billion
May 28 2020 // The cost of insurance claims from four natural catastrophes during Australia’s 2019-2020 summer has passed A$5.19 billion (US$3.44 billion), said the Insurance Council of Australia (ICA). Thousands of new claims and...
Massachusetts Division of Insurance Urges Carrier Flexibility with Vacancy Provisions
May 28 2020 // The Massachusetts Division of Insurance has notified all property and casualty insurance carriers in the state that they are expected to take steps to preserve insurance coverage for businesses ordered to shut down due to...
Workers’ Compensation Insurtech Pie Raises $127 Million With Plan to Acquire Carriers
May 28 2020 // Workers’ compensation provider Pie Insurance announced the closing of $127 million in new financing and capital commitments. Gallatin Point Capital joined the insurtech’s current investors in the capital raise,...
Insurtech Trov Partners with LatAm Insurer Sura to Bring On-Demand Insurance to Brazil
May 28 2020 // Trov, the San Francisco-based insurtech company, is partnering with Latin American insurer Seguros Sura to bring on-demand insurance products to the Brazilian market. Recent regulatory changes in Brazil have enabled...