Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Association of British Insurers Pushes Members to Act on Biodiversity Loss
Jul 6 2023 // A British insurance group is pushing its members, which include Allianz SE, Aviva Plc and Chubb Ltd., to step up their efforts to fight biodiversity loss as part of their broader climate-related goals. In a guide published...
Insurers Look to Loosen UN Climate Alliance Rules After Member Exodus: Sources
Jul 5 2023 // The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance’s membership requirements, after a recent exodus of members, according to two people...
French Insurers Say Cost of Riots Totals $305 Million, So Far
Jul 5 2023 // French insurers have so far received around 5,900 claims worth a total of some €280 million ($305 million) resulting from damage caused during a week of riots following the police shooting of a teenager. This compares...
U.S. Insurers Hit Hardest by Inflation: Triple-I Study
Jul 3 2023 // U.S. insurers have paid more than their counterparts worldwide to repair and rebuild damaged properties and vehicles due to inflation since 2018, according to an executive briefing conducted on behalf of the International...
Italy Prosecutors Probe False Accounting Allegations Related to Insurer Eurovita: Source
Jun 30 2023 // Prosecutors in Milan are probing allegations of false accounting in relation to the crisis of Italian life insurer Eurovita, a person with knowledge of the matter said on Friday. Owned by Cinven, Eurovita this year became...
Starting July 1, Florida Insurers Face New Guardrails on Force-Placed Insurance
Jun 30 2023 // Starting Saturday, insurers and mortgage lenders for Florida homeowners will face some new restrictions on lender-placed insurance policies, thanks to a bill approved by state lawmakers this year. House Bill 793 takes...
California Workers’ Comp Insurer Combined Losses and Expenses in 2022 Were $15B
Jun 29 2023 // The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2022. Key findings in the report include: Medical losses paid in 2022 were...
HK-Based Virtual Insurer OneDegree Raises $27M in Fresh Funding Round
Jun 29 2023 // OneDegree Hong Kong Ltd., a virtual insurance firm, raised $27 million in a fresh funding round to fuel an Asia expansion and investments in artificial intelligence. The company attracted fresh cash from global financial...
Bank of England Proposes Further Reforms to Insurers’ Capital Rules to Cut Red Tape
Jun 29 2023 // The Bank of England on Thursday proposed further reforms to capital rules for insurers in a step it said would cut red tape without lowering solvency standards. The Solvency II rules were inherited from the European Union...
State Regulators Need to Improve ‘Fragmented’ Efforts to Assess Insurers’ Climate Risks: FIO
Jun 28 2023 // The Federal Insurance Office (FIO) has released a new report analyzing climate-related issues and gaps in U.S. insurance supervision and regulation, saying state regulatory efforts are fragmented and limited. FIO, part of...
FIGA Sells Muni Bonds to Keep Up with Insolvent Insurer Claims
Jun 27 2023 // The Florida Insurance Guaranty Association, which handles the claims of insolvent insurers, plans to borrow $600 million by selling municipal bonds, according to preliminary offering documents. It is the first time in...
Washington Rule Requires Insurers to Tell Policyholders Why Their Premium is Going up
Jun 22 2023 // Washington Insurance Commissioner Mike Kreidler adopted a rule requiring insurers to explain premium increases to their policyholders “in language they can understand.” “If your insurance company is going...
Insurer Capital Rule Changes in UK to Start by End of 2023, Finance Ministry Says
Jun 22 2023 // Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to “Solvency II” capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be...
7th Circuit: Insurer Must Defend Firm Sued for Selling Facial Recognition Program to Chicago Police
Jun 20 2023 // An ambiguous coverage exclusion prevents a liability insurer from dodging the cost of defending a data broker that was sued after selling the Chicago Police Department access to a facial recognition database that...
Takeaways from Our Conversation on Carrier-Broker Relations
Jun 20 2023 // Powered by InsuranceJournal.tv Insurance professionals specializing in cannabis across the nation in the last few years have gone from few and far in between to too many to count as cannabis evolves into a mature industry...
Cyber Insurance: A Growth Market for Insurers With Some Caveats
Jun 19 2023 // As demand for cyber insurance continues to grow, insurers must remain vigilant in managing the changing risk associated with the line of coverage. According to DBRS Morningstar, while cyber insurance is a market...
How Carriers and MGAs Can ‘Kick the Tires’ and Stay On Point with Their Tech Investments
Jun 19 2023 // Car enthusiasts know there’s nothing quite as exhilarating as driving off the lot with a brand-new automobile. That moment when you hit the open road for the first time marks the culmination of an exciting and...
Insurer Must Defend Firm Sued for Selling Facial Recognition Program to Police
Jun 16 2023 // An ambiguous coverage exclusion prevents a liability insurer from dodging the cost of defending a data broker that was sued after selling the Chicago Police Department access to a facial recognition database that...
US Insurers Hit Hardest by Inflation: Triple-I Study
Jun 16 2023 // US insurers have paid more than their counterparts worldwide to repair and rebuild damaged properties and vehicles due to inflation since 2018, according to an executive briefing conducted on behalf of the International...
Insurer Avoids Dog Bite Claim Brought by Homeowner Selling Firearms Out of Garage
Jun 15 2023 // Nationwide General Insurance has avoided payment of a dog bite claim filed by a homeowner it insured who ran a firearms business out of his garage. A federal district court for Alabama ruled that the business exclusions in...
