Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Japan Urges Its Insurers to Retain Marine War Cover for LNG Shippers in Russian Waters
Dec 27 2022 // The Japanese government has asked insurers to take on additional risks to continue providing marine war insurance for liquefied natural gas (LNG) shippers in Russian waters, a senior official at the industry ministry...
Title Insurer Stewart Agrees to $2.5M ‘No-Poaching’ Settlement With New York
Dec 23 2022 // New York Attorney General Letitia James announced a settlement with one of the largest title insurance underwriters, Stewart Title Guaranty Corp., ending non-competitive no-poach agreements between Stewart and its...
ACORD Study Highlights Drivers of High Performance Among Top U.S. Insurers
Dec 22 2022 // ACORD recently conducted the U.S. Value Creators Study focused on the 100 largest property/casualty insurance groups in the U.S., representing nearly 90% of premiums written and almost 100% of the industry’s market...
UK Insurers, Banks Hope for Substantive Financial Services Reforms in 2023
Dec 22 2022 // After a jarring six months marked by sweeping policy promises, U-turns and four Chancellors of the Exchequer, UK financiers head into 2023 uncertain that the coming year will finally usher in substantive reforms to the...
Insurance Rates to Stay Flat for Shipments of Ukraine Grain: Lloyd’s Insurer Ascot
Dec 22 2022 // A cargo insurance facility providing cover for shipments via Ukraine’s grain export corridor will continue next year with no rate increases, an underwriter with Lloyd’s of London insurer Ascot said on...
Investigators Probe Failure of Italy’s Vega C Rocket; Satellite Insurers Expect Profit Hit
Dec 22 2022 // An investigation is being launched after the latest version of Italy’s Vega C rocket failed on its second mission, destroying two Earth-imaging satellites and further complicating Europe’s access to space on...
Insurers May Refuse to Cover Planes, Ships Exposed to Ukraine Conflict: Sources
Dec 19 2022 // Insurers may refuse to cover planes flying to Ukraine or ships sailing through the Black Sea as reinsurers – who insure the insurers – propose excluding the region from policies from next month, four industry...
Maryland High Court Joins Others in Backing Insurer in Covid-19 Claims Denial
Dec 19 2022 // The Maryland Supreme Court has backed an insurer in rejecting a luxury brand company’s claim that its all-risk commercial property insurance policy should cover its Covid-19 business losses. The ruling is in accord...
Insurers Denying Coverage to FTX-Linked Crypto Firms as Contagion Risk Mounts
Dec 19 2022 // Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange FTX, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft or lawsuits, several market...
West Virginia Puts All DMV Transactions Online, Speeding Process for Motorists, Insurers
Dec 16 2022 // West Virginia plans to speed up the process for motorists doing vehicle registrations and other transactions with the state. Gov. Justice Jim Justice said Wednesday that the Division of Motor Vehicles will expand its...
Independent Adjusters Charge Florida Insurers With Doctoring Damage Estimates
Dec 14 2022 // Do some Florida property insurance companies hire independent adjusters to inspect property claims, then routinely alter their inspection reports to reduce estimated losses? Yes, and it’s a widespread and fraudulent...
UK Non-Bank Institutions (Such as Insurers) Face 1st Stress Test After Pensions Turmoil
Dec 13 2022 // Investment funds and other non-bank financial institutions face their first “stress test” next year to apply lessons from the near-meltdown in Britain’s pension fund sector, the Bank of England (BoE) said...
Insurers and Turkey Reach Deal to Let Oil Tankers Sail Unhindered: Norway’s Gard
Dec 13 2022 // Norwegian ship insurer Gard said on Tuesday that an agreement had been reached between Turkey and insurers to enable vessels carrying oil to sail through Turkish waters unhindered. “Following significant engagement...
Russia Insurer Ingosstrakh Has No Plans to Fill Insurance Gap Caused by Sanctions
Dec 13 2022 // Russian insurer Ingosstrakh said on Monday it has no plans to offer policies to new clients who may lose coverage from international insurers after restrictions against Russian oil came into force on Dec. 5. The European...
Aite-Novarica Report to Modernize Carrier Onboarding for Expanding Distribution
Dec 12 2022 // This post is part of a series sponsored by AgentSync. For carriers looking to own the future of their distribution channels, having a reputational advantage with downstream agencies and their producers is mission...
Hong Kong Tycoon Richard Li Weighs $200M Investment in Insurer FWD: Sources
Dec 12 2022 // Hong Kong billionaire Richard Li is weighing investing about $200 million in his insurance company FWD Group Holdings Ltd. as part of a funding round, people familiar with the matter said. An investment would help support...
Lindberg Claims Buyer for Carolina Insurance Companies, But Liquidation Has Begun
Dec 9 2022 // North Carolina insurance executive and reported billionaire Greg Lindberg, now awaiting a second trial on bribery charges, says he has a buyer for his troubled insurance companies. But state regulators point out that...
Insurer Liable for COVID Shutdown of Tina Turner Play, New York Appellate Court Rules
Dec 9 2022 // Producers of a Broadway play based on the life of pop star Tina Turner, which was shut down because of COVID-19, may pursue its business-interruption claim despite a communicable disease exclusion in the policy, a New York...
UPC Latest Insurer to Leave Louisiana
Dec 8 2022 // Florida-based homeowners insurer United Property & Casualty Insurance Company (UPC) has announced it is leaving several states in 2023, including Louisiana where it has approximately 36,000 policyholders. UPC will...
Collapse of FTX Provides ‘Sobering Warning’ for Insurers About Governance Failings
Dec 8 2022 // The collapse of the cryptocurrency exchange FTX demonstrates the dangers of failures of corporate governance, according to a commentary published by AM Best. While FTX is not an insurance company, the series of events...
