Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Issuer Credit Rating Outlook Revised to Stable for Church Mutual Insurance Group
May 28 2019 // AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” of...
Insurers Gaining, Banks Losing Ground in Finance, Says European Central Bank Governor
May 28 2019 // The role of banks as providers of finance has started to erode in Europe and some other parts of the world, the Bank of Finland’s governor Olli Rehn said on Friday, calling for new central bank tools to safeguard...
Rochester Property Owner Indicted for Defrauding Banks, Insurance Companies
May 24 2019 // Prominent upstate New York landlord Robert Morgan is charged in a 114-count federal indictment with defrauding banks and insurance companies out of millions of dollars by inflating property values and insurance claims...
Alaska Air Carrier Suspends Operations After 2nd Crash
May 23 2019 // An Alaska air carrier involved in two deadly floatplane crashes in a week has voluntarily suspended operations, federal officials said. The halt of flightseeing and commuter flights is in place indefinitely, according to...
Nevada Reaches Tentative Settlement Homeowners and Insurers in Wildfire Suit
May 21 2019 // The state of Nevada has reached a tentative settlement with dozens of homeowners and insurance companies that filed an $80 million negligence lawsuit after a fire destroyed 24 homes when strong winds reignited a smoldering...
Nigeria Raises Insurers’ Minimum Capital Requirement
May 21 2019 // Nigeria increased the minimum capital requirement for insurers more than threefold as the industry regulator seeks to to improve the sector’s risk management. Existing companies must comply by June next year, while...
Connecting the Dots in Agency Technology
May 20 2019 // To say the agency technology space is robust is an understatement. Right now, the industry is seeing an “onslaught of technology available to enable agents and brokers to better manage, not only their business, but...
The Impact Of State-Level Legalization of Marijuana on the Insurance Industry
May 20 2019 // The changing legal status of marijuana in the U.S. is prompting insurers to begin offering coverages, despite having extremely limited loss data to inform them. While marijuana remains illegal at the federal level, action...
London Marine Insurers Expand Middle East Threat Zone After Saudi Ship Attacks
May 17 2019 // London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could...
Insurer Says Iran’s Guards Likely Facilitated Saudi Tanker Attacks: Reuters
May 17 2019 // Iran’s elite Revolutionary Guards (IRGC) are “highly likely” to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a...
Bank of England Warns Against Weakening Rules for Insurers, Banks After Brexit
May 17 2019 // Weakening rules for banks and insurers after Brexit would be “anathema,” but Britain could change its style of regulating to respond faster to change, Bank of England Deputy Governor Sam Woods said on...
Boeing 737 Max Crashes Could Cost European Insurers $450 Million
May 17 2019 // Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving Boeing Co. 737 Max planes. Munich Re reckons it could pay 150 million euros ($168 million), an estimate...
Missouri Statute Update Shields Insurers from Certain Bad Faith Litigation
May 17 2019 // In Missouri, insurance companies owe a contractual duty to defend civil actions that allege liability of their insureds that is potentially covered under the terms of the subject insurance policy. As part of that duty, the...
California’s New Climate and Sustainability Chief in Talks with Insurers
May 16 2019 // Powered by InsuranceJournal.tv Michael Peterson has had about five months to come in and tackle what promises to be unique job. Peterson is California’s deputy commissioner for climate and sustainability. After...
London’s Marine Insurers to Assess Risk Level After Ship Attacks in Middle East
May 16 2019 // London’s marine insurance market will meet on Thursday to assess whether it needs to change the risk level for vessels in the Gulf after an attack on ships off the United Arab Emirates earlier this week, a senior...
Insurers Face Higher Claims from Severe Convective Storms in Germany
May 16 2019 // Swimmers at the Lusshardtsee lake about 60 miles south of Frankfurt in Germany thought they’d found respite from the blazing sun one Sunday afternoon last summer. Unknown to them, however, sweltering ground...
Milliman: Hurricane Katrina Litigation Could Hike Mississippi Homeowners Rates
May 16 2019 // Mississippi homeowners could see premiums rise up to 25 percent thanks to Hurricane Katrina-related subrogation litigation being brought by the Mississippi attorney general, according to a recent report by Milliman. The...
Georgia Insurance Regulator Faces 38 Count Indictment for Defrauding Insurer; Claims Innocence
May 14 2019 // A federal grand jury has indicted Georgia Insurance Commissioner Jim Beck on 38 counts of wire fraud, money laundering and mail fraud in an alleged $2 million scheme to defraud the Georgia Underwriting Association (GUA),...
Lloyd’s Insurers Surpass Target for Electronic Risk Placements: Report
May 14 2019 // Insurers in the Lloyd’s of London market have switched 45% of their business to an electronic platform, ahead of target, the platform said on Monday. The insurance industry has been slower to move to electronic...
Crash Victims’ Final Minutes Will Influence Financial Liability for Boeing, Insurers
May 13 2019 // The amount of money Boeing Co. and its insurers will pay to the families of those who perished aboard two doomed jets will be dictated in part by one particularly grim calculation: How long did the victims know they were...
