Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Are Still Backing Oil and Gas Industry Despite Rising Climate Threat: Report
Nov 9 2023 // Insurers are continuing to provide cover for increased oil and gas production even as they face large losses fueled by climate change, according to a new report. About 80% of the insurance market and 53% of the reinsurance...
Fed Judges Ask Florida Supreme Court to Decide if Insurers Can Sue Auto-Glass Shops
Nov 9 2023 // The Florida Legislature earlier this year struck a mighty blow for auto insurers in their years-long fight against windshield repair shops, ending assignment-of-benefits and the practice of offering gifts to insureds. Now,...
Insurers Review Middle East Events Policies After War Leads to Cancellations
Nov 8 2023 // Some insurers are excluding Israel, Lebanon and other Middle Eastern countries from their event cancellation policies after the Israel-Hamas war resulted in some activities being pulled. European Aquatics last week called...
Kentucky Clarifies Matching Law While Florida Insurers Use Endorsements to Limit Replacement Costs
Nov 6 2023 // Matching requirements for roofs and interior furnishings have been a tough issue in the property insurance industry for years. Recent developments show how insurers and regulators in different Southeast states are managing...
New Swiss Capital Rules Set to Spur $20 Billion Bond Overhaul for Re/Insurers
Nov 3 2023 // Insurance companies in Switzerland are set to repay billions in mostly discounted old-style bonds over the next decade as changes to the country’s capital rules take effect next year. There are nearly $20 billion of...
New York Secures $13.75M From Title Insurer for Illegal No-Poach Agreements
Nov 2 2023 // New York Attorney General Letitia James announced an agreement with one of the nation’s largest title insurance companies to end its poaching agreements with competitors. The insurer, First American Financial Corp.,...
Why Fleet Carriers Should Create Their Own Accident Tracking and Analysis Tool
Nov 2 2023 // This post is part of a series sponsored by IAT Insurance Group. The Federal Motor Carrier Safety Administration (FMCSA) is bringing Accident Recordkeeping Requirements back to the future. Retired after the Compliance,...
Verisk Tops Q3 Expectations on Resilient Demand From Insurers
Nov 1 2023 // Verisk Analytics beat market expectations for third-quarter revenue and profit on Wednesday, as more insurance companies used its products to assess risk. The data analytics company’s products cater to insurers...
China Eases Investment Rules for Insurers in Bid to Boost Flows Into Stocks
Nov 1 2023 // China has taken a move that effectively allows insurance firms to make longer-term investment in shares, adding to a drumbeat of support measures to revitalize the country’s stock market. The Ministry of Finance will...
Florida Senator Raising Eyebrows with Pitch for Investment in New Insurance Company
Oct 31 2023 // Florida state Sen. Joe Gruters, R-Sarasota, has sparked some controversy by pitching investment opportunities in a startup property insurance company in Florida. This may be a good time for a new business venture by an...
Chinese Online Insurer Shouhui Weighs Hong Kong IPO in 2024
Oct 30 2023 // Shenzhen Shouhui Technology Group Ltd., a Chinese online insurance platform, is considering an initial public offering in Hong Kong as soon as next year, according to people familiar with the matter. China International...
Re/insurer SiriusPoint and MGA Banyan Risk Extend Capacity Relationship
Oct 27 2023 // SiriusPoint Ltd., the specialty insurer and reinsurer, and managing general agent Banyan Risk Ltd. announced an extension of their capacity partnership. The deal extends for three years the Bermuda-based companies’...
Appeals Court Upholds $12M Verdict in Fatal Keys Crash; Insurer Facing Bad-Faith Claim
Oct 27 2023 // A federal appeals court this week upheld a $12 million jury award against a gravel and waste-hauling company in a horrific highway accident that killed four Spanish women who were on vacation in the Florida Keys in...
AgentSync Raises $50M in Funding to Drive Operational Efficiencies For Insurers and Distributors
Oct 26 2023 // AgentSync doubles down on building the most modern and connected producer management and compliance solutions to provide flexibility in distribution channels for carriers, agencies, and MGAs DENVER, CO, October 26, 2023...
Kentucky Clarifies Matching Law While Florida Insurers Get Limits on Replacement
Oct 24 2023 // Matching requirements for roofs and interior furnishings have been a tough issue in the property insurance industry for years. Recent developments show how insurers and regulators in different Southeast states are managing...
Badger Mutual Insurance Company Downgraded by AM Best
Oct 23 2023 // AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b+” (Marginal) from “bbb-” (Good) of Badger Mutual...
Oklahoma Captive Program Reports 25% Net Gain of Captive Insurers in 2023
Oct 20 2023 // The Oklahoma Insurance Department’s Captive Insurance Division reported a 25% net gain in captive insurers for 2023. As of September 30, the state has licensed 11 new captive insurers for the year. There are 55...
Aviation War Insurers Cancel Cover for Airlines Domiciled in Israel, Lebanon: Sources
Oct 19 2023 // Aviation war insurers have given notice to cancel cover for some airlines domiciled in Israel and Lebanon because of the conflict in the region, with some cancellations already taking effect, three industry sources with...
Artificial Intelligence Startup Helps Insurers Spot Cognitive Decline in Older Drivers
Oct 17 2023 // Mind Foundry Ltd., an artificial intelligence startup vying to help insurers decide which drivers should be covered, has raised $22 million in funding, the latest sign of growing demand to deploy AI in critical sectors...
Filing a Day Late Leaves Insurer Short Under Mississippi’s Statute of Limitations
Oct 17 2023 // The Mississippi Supreme Court has ruled that an insurer misunderstood when a three-year statute of limitations begins in dismissing the insurer’s claims relating to a fire on an insured’s property. The high...
