Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
A Fresh Take on Commission: Envisioning a System That Supports the Agent, Carrier and Consumer
Sep 16 2024 // I confess that for a guy who has made his living largely on commissions for decades, I don’t like the concept. It’s not that I don’t like getting paid — I do — but I find the commission system...
Swiss Insurer Baloise Eyes Changes in Board of Directors, Chairman Says
Sep 13 2024 // Swiss insurer Baloise is considering changes in its board of directors, Chairman Thomas von Planta said on Thursday after the company revealed plans to boost returns to shareholders. “We want to strengthen the...
Sentry Buys Nonstandard Auto Insurer The General From American Family for $1.7B
Sep 12 2024 // Sentry Insurance said it is buying nonstandard auto insurer The General from American Family Insurance for about $1.7 billion to mark the largest acquisition in the company’s 120-year history. Sentry will pay $1.1...
Swiss Insurer Baloise Targets Higher Returns for Shareholders After Cevian Move
Sep 12 2024 // Swiss insurer Baloise said on Thursday it plans to boost return on equity and will consider share buybacks after activist-investor Cevian Capital this week revealed it held more than 9% of the company’s stock,...
Finland’s Sampo Secures Deal for Danish Insurer Topdanmark
Sep 11 2024 // Finland’s Sampo Oyj succeeded in pushing through an offer for Topdanmark A/S in its second attempt to gain control of the Danish insurer. The Finnish insurance company raised its holding in Topdanmark to about 92.6%...
Moody’s: Insurers and Asset Managers Bolstering Cyber Defenses
Sep 10 2024 // Insurers and asset managers worldwide continue to focus on cybersecurity amid growing risks, according to findings from a Moody’s Ratings survey that polled 110 companies operating across both...
Arrowhead announces new carrier partnership for New Jersey homeowners
Sep 10 2024 // SAN DIEGO, CA., September 10, 2024 – Arrowhead General Insurance Agency, Inc. is pleased to announce its new carrier relationship with DB Insurance Company. Together we have introduced a new admitted homeowner’s...
Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment
Sep 10 2024 // The landlord for a fire-damaged building leased to a Red Lobster restaurant is blaming the restaurant’s insurer for causing it to lose out on $1.2 million in fire insurance claims payments to repair the property. RL...
New Georgia Direct-Action Changes Aren’t Perfect: What Insurers Need to Know
Sep 9 2024 // On July 1, 2024, changes to the Georgia Direct Action Statutes, O.C.G.A. § 40-1-112 and O.C.G.A. § 40-2-140, went into effect and limited the circumstances under which a plaintiff can assert a direct-action claim against...
Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses
Sep 6 2024 // New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of...
New York Regulator Orders Taxi Insurer to Weigh Sale After Losses
Sep 5 2024 // New York’s insurance regulator issued a damning report laying out the severely flawed financial condition of New York’s largest insurer of taxis and for-hire vehicles, as well as dozens of potential financial...
Climate Losses Batter Insurers While Reinsurers Step Back
Sep 5 2024 // As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 billion. The trend continues...
New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown
Sep 4 2024 // In an unassuming white and blue office building in Freeport, a few miles into Nassau County, sits the headquarters of American Transit Insurance Co. The 52-year-old, family-owned firm is hardly a household name, but...
Risks Too Big for Insurers Just Fed a $200 Billion Market Boom in Captives
Sep 4 2024 // As the market for in-house insurance surpasses a record $200 billion, the underlying reasons for that boom show how a hotter, less stable planet is redrawing the risk map for corporations. Captive insurance, where...
Polish Insurer PZU Needs Strategy for Ownership of Stakes in 2 Banks, Minister Says
Sep 4 2024 // Poland’s biggest insurer PZU needs a strategy to tackle its ownership of stakes in two banks, which is complicating its valuation, the state assets minister said. Globally, insurers are focusing on core business and...
Natural Disasters to Cause $151 Billion in Annual Insurer Losses
Sep 4 2024 // Urban expansion, property exposure and climate change could fuel a 40% increase in annual natural-catastrophe losses for the global insurance industry, according to a new report. The annual loss could rise to $151 billion...
Insurers Say Honda and Local Dealer Should Pay for Damages Caused by Car Fire
Sep 4 2024 // Three insurers that paid more than $1 million in auto and property damage claims to a New York couple and their homeowners association are attempting to recover the payments from the giant car maker and local...
Labor Market Study: 14% of Carriers Plan to Reduce Headcounts
Sep 2 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...
Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say
Aug 30 2024 // Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. The...
South Africa Insurer Santam Plans Asia Expansion, Following Success of Parent Sanlam
Aug 30 2024 // South Africa-based general insurer Santam Ltd. plans to expand in Asia to diversify its premiums and counter tepid growth at home. The insurer, a subsidiary of financial services group Sanlam Ltd., generates 82% of its...
