Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Labor Market Study: 14% of Carriers Plan to Reduce Headcounts
Aug 12 2024 // Fourteen percent of insurance companies plan to reduce employee headcounts in the next year, according to numbers from Aon and The Jacobson Group’s latest insurance labor market study. Jeff Rieder, partner at Aon and...
Taylor Swift Cancellations Deal Blow to Insurers: Sources
Aug 9 2024 // Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be canceled, though several providers will share out the hit, two people involved in insurance for her tour...
Hurricane/Tropical Storm Debby Should be Manageable for Insurers, Early Data Show
Aug 9 2024 // Reports from Gallagher Re and the Florida Office of Insurance Regulation suggest that Tropical Storm Debby will not be a heavy lift for property insurers and reinsurers. “Early assessments suggest wind-related...
European Insurers Enjoy Big Profits After Premium Hikes
Aug 8 2024 // Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher...
UK Insurers Pull Back From Offering Cover as Flood Threats Rise
Aug 8 2024 // Increased flooding in Britain from overflowing rivers and blocked drains is leading insurers to pull back from offering cover, particularly for commercial properties and residential landlords, industry representatives...
UK Insurer Beazley Upgrades 2024 Forecast After H1 Profit Nearly Doubles
Aug 8 2024 // British insurer Beazley upgraded its combined ratio forecast for 2024 on Thursday after first-half pretax profit nearly doubled, boosted by growth in its property risks premiums and fewer catastrophe losses, sending its...
Western Insurers Provide Cover for Russian Oil Despite Price Cap Concerns
Aug 8 2024 // A group of Western insurers have provided cover for tankers carrying Russian crude, keeping its oil flowing after many in the trade sector withdrew for fear of breaching the rules of a G7 price cap, data from traders and...
Florida Insurer Can’t Object to Appraiser After the Award Is Decided, 11th Circuit Says
Aug 8 2024 // If a property insurer is going to object to an appraisal panel member’s fee arrangement, it must do so early in the process – not after the panel provides an unfavorable, multimillion-dollar appraisal award. That...
Insurance 101: Understanding Insurance Carrier Terminations
Aug 6 2024 // This post is part of a series sponsored by AgentSync. In the insurance industry, the term “termination” can refer to a few different things. First, there are policy terminations. These occur when an insurance...
A Gas Carrier Faking Its Location Helps Russia Avoid Sanctions
Aug 5 2024 // A liquefied natural gas tanker that’s docked at a sanctioned Russian gas facility has no known insurer, is managed by a little-known Indian company and is pretending to be somewhere else. Samir Madani, co-founder of...
Insurer’s Lack of Repairs Caused Woman’s Death After Ian, Florida Lawsuit Says
Aug 5 2024 // Just as another hurricane hit Florida, the child of a central Florida woman is litigating a claim from a previous storm – Hurricane Ian in 2022. This time, though, the plaintiff claims not only breach of contract by a...
Captive Insurer Targets New York Affordable Housing Market
Aug 5 2024 // A new Vermont-based captive insurer is promising to provide insurance for New York affordable rental housing buildings at a time when advocates say coverage is difficult to afford or obtain. The Milford Street Association...
Insurers’ Losses from Hurricane Beryl Will be ‘Readily’ Absorbed
Aug 5 2024 // Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the property/casualty and reinsurance sectors, Moody’s...
Personal Lines Insurer Adirondack Exchange Withdrawing From New York
Jul 31 2024 // The New York personal lines carrier Adirondack Insurance Exchange (AIE) is facing financial difficulties and has told its agents and customers that it is working on a transition plan for all existing policies. The insurer...
Outlooks Revised to Positive for Louisiana Workers’ Comp Insurer Stonetrust
Jul 31 2024 // AM Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Stonetrust Commercial Insurance...
Cannabis Firm Fights Insurer’s Denial of Business Income Loss Claim Following Fire
Jul 29 2024 // A Berkshire Hathaway insurer is insisting it does not owe $1.3 million in claimed business income losses to a cannabis growing company after a building fire shuttered one of its “flowering” rooms for 68...
Niagara Falls Hopes Insurer Can Solve Mystery of Last Year’s Car Crash, Explosion
Jul 26 2024 // A police investigation into the crash and explosion that killed two people in a high-powered luxury car at a Niagara Falls border crossing last year has concluded with the crash’s cause still a mystery, authorities...
Personal Auto Driving P/C Insurers to 2024 Underwriting Profit
Jul 23 2024 // S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to...
British Insurers Propose Green Infrastructure Funding Model
Jul 23 2024 // Britain’s insurers set out plans on Monday on how to channel billions of pounds freed up from their safety buffers into infrastructure such as EV charging stations to boost growth. The new Labour government in...
Pennsylvania Shaved $98 Million Off Insurer Rate Requests in First Half of Year
Jul 22 2024 // The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of...
