Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
New Business Interruption Insurance Poses Risks to Chinese Insurers, Says Fitch
Apr 17 2020 // At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak, which may have unintended...
Six Things to Know About the Recent Impasse Between Regulators and Insurers in the Aftermath of California’s Devastating Wildfires
Apr 17 2020 // This post is part of a series sponsored by CoreLogic. California’s 2017 and 2018 catastrophic wildfire events hit state insurers historically hard, with record-breaking losses of over $25 billion.1 2 Three years...
Chubb CEO Greenberg Warns Retroactive Measures Would ‘Bankrupt’ Insurance Industry
Apr 16 2020 // Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some uncovered business-interruption losses. “The insurance industry is a fundamental part of the...
Insurance Department: Auto Insurers to Return Over $187M to Louisiana Drivers
Apr 16 2020 // The Louisiana Department of Insurance says collectively auto insurers will return more than $187 million in premium to drivers in the state in the form of refunds and rebates on auto insurance policies. Insurance...
Analysts See Auto Insurers’ Coronavirus Rebates As a Solid Short-Term Move
Apr 16 2020 // Auto insurers have seen something new with the coronavirus pandemic: an historic reduction in driving due to millions of customers staying home and sheltering in place. That change led to carriers issuing between $8...
UK Insurers, Banks Are Weathering Effects on Capital of COVID-19 Crisis: BoE’s Woods
Apr 16 2020 // Britain’s banks have enough funds to keep lending to the economy even under the deep recession scenario outlined by a government watchdog, Bank of England Deputy Governor Sam Woods said on Wednesday. The BoE has...
Texas Urges Insurers to Work with Commercial Customers on Premium Adjustments
Apr 15 2020 // The Texas Department of Insurance has issued a bulletin to insurers to urging them to work with commercial policyholders that have premiums based on payroll, sales, or a similar auditable exposure. TDI requests that...
Despite Insurance Industry Concerns, More States Introduce COVID-19 BI Bills
Apr 15 2020 // New Jersey was the first state to propose a bill that would mandate insurers cover COVID-19-related losses under their business interruption policies, and the insurance industry was quick to express its concern. But that...
Insurance Australia Group, AMMB Seek to Sell Their Malaysian Auto Insurer: Sources
Apr 15 2020 // The owners of AmGeneral Insurance Bhd., Malaysia’s second-biggest auto insurer, have restarted a sale process and are seeking as much as $1 billion for the company, people with knowledge of the matter said. Kuala...
North Carolina Creates Process for Insurers to Legally Offer Pandemic Premium Relief
Apr 15 2020 // The North Carolina Department of Insurance says it is working with insurers to allow them to offer financial relief to policyholders without filing for department approval or risking violating state law during the current...
How Insurance Claims Pros Are Adjusting to Pandemic Complications
Apr 15 2020 // The coronavirus pandemic has not shut down the day-to-day business of adjusting claims, but the workload is lighter and claims managers are coping with evolving government regulations and guidelines. Crawford & Co....
California Tells Insurers to Investigate All COVID-19 Business Interruption Claims
Apr 14 2020 // California Insurance Commissioner Ricardo Lara on Tuesday issued a notice requiring insurance companies and other California Department of Insurance licensees to comply with their obligations to fairly investigate all...
Trump Tells Insurers to Pay Virus Claims If Pandemics Not Excluded
Apr 14 2020 // President Donald Trump has staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics, insurers should pay. Trump spoke about the issue for a minute and a half during...
Alabama Regulator Eases Process for Auto Insurers to Reduce Policyholder Premiums
Apr 14 2020 // The Alabama Department of Insurance says it will waive filing fees and allow for immediate implementation of premium reductions by insurers in an effort to provide some relief to Alabama consumers. In a bulletin issued...
Texas Delays FAIR Plan Rate Changes; OKs Windstorm Insurer Policy Forms
Apr 13 2020 // The Texas Department of Insurance has moved the effective date of approved rate changes for the state’s FAIR Plan from May 1, 2020, to Aug. 1, 2020. TDI said the date change was due to the impact of the coronavirus...
Cincinnati Insurance Companies Offering 15% Discount to Personal Auto Policyholders
Apr 13 2020 // Two property/casualty insurance subsidiaries of Cincinnati Financial Corp., The Cincinnati Insurance Co. and The Cincinnati Casualty Co., are offering a 15% personal lines auto credit for current policyholders. Personal...
New Jersey Directs Insurers to Provide Emergency Grace Period Amid COVID-19
Apr 13 2020 // The New Jersey Department of Banking and Insurance has directed insurers to provide financial relief to residents and businesses, as they continue to suffer financial hardship due to the COVID-19 pandemic. The guidance...
California Orders Insurers to Refund Premiums to Drivers, Businesses Hit by COVID-19
Apr 13 2020 // California Insurance Commissioner Ricardo Lara on Monday ordered insurance companies to return insurance premiums to consumers and businesses and provide financial relief during the COVID-19 emergency. The...
How P/C Insurance Industry Can Maximize Its Response to Coronavirus: Crisis Manager
Apr 13 2020 // “I’m shocked, just shocked that you’re suggesting that during a crisis that insurance companies might in fact be considered the villains. I’ve never heard that before.” That’s Richard...
Auto Insurers Offering $8-$10B in Discounts in Coronavirus Relief Effort; Updated List
Apr 13 2020 // The group of property/casualty insurers offering auto insurance premium discounts to recognize that insureds are driving less during the coronavirus crisis continues to grow, and now includes all major auto insurers. State...
