Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
USAA Becomes 3rd Insurer to Report $1B-Plus in Claims So Far for LA Wildfires
Feb 5 2025 // USAA has paid out more than $1 billion for the Los Angeles wildfires, making it the third insurer to report $1 billion or more in payouts for the destructive blazes that burned thousands of properties. The company, which...
Allianz, IAG Said to Mull Bids for Top Western Australia Insurer
Feb 5 2025 // Insurance firms Allianz SE and Insurance Australia Group Ltd. are among parties considering bidding for Western Australia’s top insurer, according to people familiar with the matter. Allianz and IAG are mulling the...
Viewpoint: Delegated Underwriting Authority Enterprises Offer Insurers Competitive Edge
Feb 4 2025 // The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a...
Insurer Seeks to Exit $30 Million Wrongful Death Lawsuit Over Boy’s Fatal Shooting
Feb 4 2025 // An insurance company says it is not obligated to defend or indemnify the owners and managers of a Memphis apartment complex who are facing a $30 million wrongful death lawsuit stemming from the fatal shooting of a 14-year...
Mangrove, Florida’s Newest Home Insurer, Receives Demotech Rating
Feb 3 2025 // Brand new Florida home insurer Mangrove Property Insurance Co. has received a Financial Stability Rating (FSR) of “A, Exceptional” from Demotech, Inc., a financial analysis firm that specializes in rating...
Brazil Insurer Porto Seguro Eyes Partners for Health Business, Sources Say
Jan 31 2025 // Brazilian insurance group Porto Seguro is in talks with private equity funds to possibly sell a minority stake in its health business, with discussions focusing on the strategic advantages of potential partners and...
Europe’s Insurers May Face New Capital Rules for Climate Risk
Jan 31 2025 // Europe’s insurance watchdog has called for a recalibration of capital requirements to reflect rising climate-driven disasters across the continent. The European Insurance and Occupational Pensions Authority is...
AIG’s Hancock to Lead Global Personal Lines as Insurer Restructures Businesses
Jan 28 2025 // American International Group (AIG) said it is organizing into three segments and Jon Hancock will lead two of them. Jon Hancock Hancock will continue to lead AIG’s international commercial business and will also take...
Mangrove, Another New Property Insurer, Enters Florida Market
Jan 27 2025 // Itasca Re chairman Stephen Weinstein has launched a new Florida-domiciled insurance carrier, known as Mangrove Property Insurance, with plans to assume thousands of policies from Citizens Property Insurance Corp. Mangrove,...
‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association
Jan 24 2025 // A January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic...
Banks Have Unfair Edge Over Insurers in M&A Race: NN CEO Says
Jan 23 2025 // A top European insurance executive slammed a piece of regulation that has emerged as key driver behind a recent slate of asset management acquisitions by banks. The rule known as Danish Compromise gives the region’s...
People Moves: Scully Appointed President of Automobile Insurers Bureau
Jan 23 2025 // William H. Scully The governing committee of the Automobile Insurers Bureau of Massachusetts (AIB) appointed William H. Scully as president. Scully served as interim president succeeding Kim A. Barber who retired in April...
China Guides Mutual Funds, Insurers to Invest More in Stocks
Jan 23 2025 // China is guiding local mutual funds and insurers to boost their stock purchases in the government’s latest initiative to shore up its ailing equity market as it confronts the threat of higher tariffs. Mutual funds...
Dutch Willing to Help Insurers Invest in Defense, Minister Says
Jan 23 2025 // Dutch insurance companies and other financial institutions that want to invest in the defense industry can expect guidance from the government, said Defense Minister Ruben Brekelmans. “What I’ve experienced so...
India Widens Approvals for Russian Insurers After Oil Sanctions
Jan 23 2025 // India widened backing for Russian insurers as the largest buyer of Moscow’s seaborne crude strives to keep discounted barrels flowing, after the US imposed fresh sanctions earlier this month. As well as extending...
The Difference Between Direct Carrier Appointments and Producer Sub-Codes
Jan 23 2025 // This post is part of a series sponsored by Darkhorse Insurance. In the complex world of insurance, as an insurance agent, you often face a crucial decision between Direct Carrier Appointments and Producer Sub-Codes. Each...
Seibels Bruce, One of the South’s Oldest Insurance Companies, Closes its Doors
Jan 17 2025 // Two decades after its subsidiaries were deemed insolvent and 155 years after it was founded, one of the oldest insurance companies in the South has officially gone out of business. Seibels Bruce & Company’s...
Will California’s FAIR Plan Have Enough Cash for Its Wildfire Claims?
Jan 16 2025 // There has been some question about whether California’s insurer of last resort – the FAIR Plan – has enough cash on hand to pay for its share of wildfire claims. As surplus is inadequate and reinsurance has a...
Florida Appeals Court Upsets Applecart on Workers’ Comp Statute of Limitations
Jan 16 2025 // A recent decision and concurring opinion by a Florida appeals court may have upset years of practice and could raise costs for workers’ compensation insurers. Some claims that carriers were once ready to close out of...
Russian Insurer Says US Sanctions Against it Increase Risk of Environmental Disaster
Jan 14 2025 // Russian insurance company Ingosstrakh said on Friday [Jan. 10] that U.S. sanctions against it would increase the risk of environmental disasters. The Biden administration on Friday imposed its broadest package of sanctions...
