Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Wine ‘Smoke Taint’ Disputes Linger 2 Years After California Wildfires
Feb 7 2020 // Recent wildfires in California Wine Country, particularly those that devastated parts of Napa and Sonoma counties in October 2017, have focused attention on whether insurance covers smoke taint damage to grapes and...
Hong Kong Insurers Say Sales Have Fallen to ‘Almost Nothing’ Due to Coronavirus
Feb 6 2020 // For Hong Kong insurers, the coronavirus outbreak is a second blow. Already reeling from at-times violent demonstrations that slowed the flood of Chinese travelers — one of the biggest sources of new policyholders...
A Tale of Two Californias: Managing Wildfire Risk in the Year 2030
Feb 6 2020 // For most of the 20th century, the insurance industry considered wildfires to be little more than a benign nuisance. They occurred frequently but rarely resulted in more than a handful of claims, and underwriters priced for...
Update: Airline Flight Cancellations Due to Coronavirus
Feb 4 2020 // Feb 4 – Airlines are suspending flights to China in the wake of the new coronavirus outbreak. Here is the latest on their plans (in alphabetical order): AIR CANADA Air Canada said on Jan. 28 it was canceling select...
Judge Rejects Argument That Insurer Acted in Bad Faith by Using Automated Bill Pay
Feb 4 2020 // For the second time in a year, a federal judge rejected a plaintiff attorney’s argument that an insurance carrier acted in bad faith by using the Mitchell Decision Point program when calculating the value of a...
Top 5 Trends in Changing Personal Umbrella Market That Agents Need to Know
Feb 3 2020 // The personal umbrella market had been steady for many years, with lots of choices available in the market when it came to finding the right coverage for customers. However, recent changes are turning the market upside down...
Data Driven Business Models to Affect Entire Insurance Value Chain: Swiss Re Report
Feb 3 2020 // Digital transformation empowers consumers to be more informed and independent, and equips insurers with the tools to develop new tailored products and services and refine existing ones, said the latest sigma report...
Airlines Under Pressure to Halt Flights to China; Update on Cancellations
Jan 31 2020 // Pilots and flight attendants are demanding airlines stop flights to China as health officials declare a global emergency over the rapidly spreading coronavirus, with American Airlines’ pilots filing a lawsuit seeking...
Most UK Insurers, Banks Unprepared for Risks of Climate Change
Jan 31 2020 // The Bank of England faces an uphill climb to get the finance industry ready for one of its biggest threats: the climate. About 80% of senior finance executives believe their firms “lack well-developed strategies to...
With Premiums Up Due to Accidents, Chemical, Refinery Plants Cut Back on Insurance
Jan 30 2020 // U.S. refineries and petrochemical plants are cutting back on insurance because several years of severe accidents have driven up the cost of coverage, industry and insurance sources said. With less insurance coverage for...
California’s Topa Insurance Company Promotes Yates, Tillinghast
Jan 30 2020 // Topa Insurance Company, one of the wholly owned subsidiaries of Topa Insurance Group – a boutique insurance holding company based in Calabasas, Calif. – has promoted Kelly Yates to vice president of Claims and...
Brexit Impact on UK Insurers Dictated by Trade Talks, Possible Economic Hit: AM Best
Jan 30 2020 // From an operational point of view, the United Kingdom’s departure from the European Union on Jan. 31, 2020 will have little immediate impact on AM Best-rated insurers in the UK or EU, according to the ratings agency...
Insurer Loss Control Oversight Moving to Market Conduct Unit at TDI
Jan 30 2020 // The Texas Department of Insurance is moving oversight of insurer loss control inspections to Market Conduct Examinations in the Financial Regulation Division. This is part of the agency’s efforts to strategically...
European Insurers Balk at EU Raising Capital Requirements Due to Cyber, Climate Risks
Jan 30 2020 // Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer bailouts, a top EU...
How should insurance commissioners get the job?
Jan 29 2020 // WARNING: This is a long one. Buckle in. Insurance Journal recently published an article detailing what action the Florida legislature is planning to take this year related to insurance. One item in particular caught my...
R&Q Acquires Montana Captive Insurer Vigneron
Jan 29 2020 // R&Q is pleased to announce it has acquired the Montana captive insurer, Vigneron Insurance Company Inc. from a wholly owned private investment holding company. Terms of the deal were not disclosed. VICI underwrote...
Insurers Say Proposed California Regs Could Axe Discounts for Millions
Jan 28 2020 // The American Property Casualty Insurance Association testified today in opposition to draft regulations they say could eliminate many affinity group insurance discount programs during a pre-notice workshop held by the...
Indonesia Forms Rescue Plan for Troubled State Insurer
Jan 28 2020 // Indonesian authorities are weighing the induction of a strategic investor into a unit of the nation’s oldest insurer that’s on the brink of collapse after alleged fund mismanagement left a $2 billion hole in...
TDI to Insurers: Compliance with Temporary Vehicle Coverage Provisions Required
Jan 28 2020 // The Texas Department of Insurance has reminded carriers that provide personal auto insurance in the state about the need to comply with new temporary vehicle coverage provisions contained in House Bill 3420. HB 3420,...
Australian Insurers Should Be Able to Withstand Mounting Bushfire Claims: AM Best
Jan 27 2020 // Australian insurers are well-capitalized and should be able to withstand losses from the 2019/2020 bushfire season, aided by strong capital positions and support from reinsurance partners, said AM Best. The ratings agency...
