Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
St. Johns Insurance Insolvent, to be Liquidated, Florida DFS Reports
Feb 28 2022 // St. Johns Insurance Co., one of the larger property/casualty insurers based in Florida, is now insolvent and will soon be liquidated. The Florida Department of Financial Services posted a notice Friday that a judge in Leon...
California Commissioner Wants to Require Insurers to Factor Wildfire Safety Steps into Pricing
Feb 25 2022 // California Insurance Commissioner Ricardo Lara announced new regulations he believes will improve wildfire safety and drive down the cost of insurance for homeowners and businesses. The proposed regulations, which could be...
Insurers Raise Costs of Shipping Through Black Sea for Vessels Still Willing to Sail
Feb 25 2022 // Insurers have raised the cost of providing cover for merchant ships through the Black Sea, adding to soaring rates to transport goods through the region for vessels still willing to sail after Russia’s invasion of...
Insurers for Law Firm, Engineers in Collapsed Condo Settle with Victims’ Families
Feb 24 2022 // Insurers for an engineering firm overseeing major repairs at the collapsed Surfside condominium and for a law firm that advised the condo association have agreed to settle a lawsuit brought by survivors and families of the...
Pennsylvania Adopts Exception to Ban on an Insurer Subrogating Against an Insured
Feb 24 2022 // The Pennsylvania Supreme Court has sided with an insurer seeking subrogation for payments it made to an injured worker before it was determined the insurer was not obligated to make the payments. The state’s highest...
Brazilian Hospital Chain Rede D’or Acquires Insurer SulAmerica for $2.6 Billion
Feb 24 2022 // Rede D’or said on Wednesday it has agreed to acquire insurer SulAmerica Seguros in a 13 billion-real ($2.6 billion) deal combining Brazil’s largest hospital network with one of the country’s major...
Florida House Committee Gives Nod to Surplus, Citizens, Fraud Bills
Feb 24 2022 // The Florida House of Representatives’ Commerce Committee passed no fewer than five bills Wednesday that could affect property and casualty insurance, from allowing surplus lines carriers to be based in Florida, to...
Startup MGA Rising Edge Targets Low-Layer D&O Business
Feb 24 2022 // The co-founders of London-based Rising Edge aimed to create something different when they decided to launch a managing general agent in 2021, which focuses solely on directors and officers liability insurance. CEO Philippe...
Agency’s Specialty Portfolio Often Fragmented by Working With Multiple Carriers
Feb 23 2022 // The Hanover Insurance Group recently released its State of Specialty Insurance Report, which highlights the risks of fragmentation in the marketplace. The report spotlights the advantages agencies realize when they create...
Prime Insurance Company and Prime Property & Casualty Insurance Inc. Announces the Appointment of New Board Member
Feb 23 2022 // Ms. Richards states, “It is an honor to serve a carrier so dedicated to fighting for justice on behalf of our insured partners.” Chicago, IL, February 23, 2022 — Rick J. Lindsey, President, CEO and Chairman...
IMF Warns Britain About Relaxing High Regulatory Standards for Insurers, Banks
Feb 23 2022 // A push to make London more attractive as a global financial center after Brexit must not threaten high standards of solvency and behavior at banks, insurers and markets, the International Monetary Fund said on...
8th Circuit: Insurer Owes Nothing to Arkansas Man Who Lied on Proof of Loss Statement
Feb 23 2022 // After his house burned down in 2015, Rick Merechka turned in a sworn proof of loss statement telling his insurance company that the replacement value of his household goods was $607,640. But in December 2010, Merechka and...
Florida Appeal Courts Side with Insurers in Attorney Fees, AOB and PIP Cases
Feb 23 2022 // From attorneys’ fees to water damage to reimbursement limits in no-fault auto insurance, Florida appeals courts have sided with insurers in several cases in recent days. Here’s a look: Attorney Fees and Another...
Prospective Investors in Giant LIC IPO Worried About Gov’t Control of Insurer: Sources
Feb 22 2022 // Prospective investors in Life Insurance Corp. of India’s (LIC) $8 billion IPO are seeking assurances from company management that it will not sacrifice their interests to meet the goals set out by the government, its...
UK to Ease Solvency II Insurance Capital Rules to Unlock ‘Billions of Pounds’
Feb 22 2022 // Britain will unlock “tens of billions of pounds” of insurance sector capital that should boost the economy through infrastructure investment, financial services minister John Glen said on Monday. The...
Another Big Insurer Stops Writing Homeowners Policies in Florida
Feb 21 2022 // The Florida property insurance market is showing more signs of trouble, with one of the state’s largest carriers deciding to stop writing new homeowner business in the state — while also asking for a rate...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Feb 21 2022 // In January, the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber attack known as...
How Car, Home Inflation Is Driving Up Loss Costs for Insurers
Feb 21 2022 // The two possessions that most concern insurers — homes and motor vehicles — happen to be the largest contributors to the historic 7.5% inflation rate. Perhaps that should be no surprise. “It’s the...
How Do You Know When It’s the Right Time to Partner With a Network?
Feb 21 2022 // Worried about what could be next for your agency? It has been a chaotic couple of years — and many forward-thinking businesses are focused on improving revenue, expanding their client base and future-proofing their...
Insurers Could Get Lower Rates on Liquidity with Bills in States
Feb 21 2022 // Many in the insurance industry may think of the Federal Home Loan Bank as an agency that facilitates affordable mortgages for homes. The system, founded in the waning days of the Herbert Hoover administration to support...
