Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Heading Into 2022, P/C Insurers Face ‘Massive’ Political Risks, Economic Uncertainty
Dec 7 2021 // Property/casualty insurers head into 2022 facing “massive” political risks, an expert with the Insurance Information Institute said on Dec. 2. Economic uncertainty will also continue despite recovery...
Brokers Report Cyber Insurers Requiring Security Steps Along With Higher Premiums
Dec 6 2021 // Insurers are continuing to take a hard line on underwriting and pricing cyber coverage. While commercial lines prices overall rose 8.9% in the third quarter, cyber premiums increased 27.6%, according to The Council’s...
14 Insurers Pressing Lawsuit vs. Park Service After Gatlinburg Wildfires
Dec 2 2021 // Fourteen insurance companies are pressing ahead with a lawsuit against the federal government, alleging that the National Park Service did little to stop 2016 wildfires that destroyed dozens of homes and businesses in and...
Louisiana Insurers Face $100 Million Assessment Fee after Ida-Related Insolvencies
Dec 2 2021 // Louisiana property and casualty insurers will be assessed $100 million to cover the cost of two regional insurance companies facing insolvency due to losses from Hurricane Ida. The Louisiana Insurance Guaranty Association...
European Insurers Wary of Rising Threat of Sanctions Against Nord Stream 2 Pipeline
Dec 2 2021 // A simmering threat of sanctions against the operator of the $11 billion Nord Stream 2 pipeline risks shutting off cover from European insurers for the politically sensitive project to bring Russian gas directly to...
Florida Appeals Court Rejects Insurer’s Attempt to ‘Retry the Claim’
Dec 2 2021 // An appellate court’s job is to determine whether evidence supports the workers’ compensation judge’s decision, not to weigh information about arguments that have already been rejected, Florida’s 1st...
Insurers Taking Note of Big Verdicts, But Trial Lawyers Say Don’t Count on Changes
Dec 1 2021 // When CVS Pharmacies, just weeks after a Georgia appeals court upheld a $43 million premises liability verdict against the company, announced that it was closing 900 stores around the country, some saw it as a sign of the...
Bain Capital Makes Final Pitch for UK Mutual Insurer LV=
Nov 30 2021 // Bain Capital has made a final pitch to members of British insurer LV= to back its takeover bid, after a lengthy sale process that’s drawn a dozen offers as well as political heat about preserving mutual firms. The...
Owners of Thai Insurer Syn Mun Kong Explore Sale of Majority Stake
Nov 30 2021 // The controlling shareholders of Thai insurer Syn Mun Kong Insurance Pcl are exploring the sale of a majority stake in the firm and have picked several strategic players to advance into the next round of bidding, according...
Definity Financial’s CEO Plots Acquisitions After Insurer’s Canadian IPO
Nov 29 2021 // Definity Financial Corp., the 150-year-old insurer that held its initial public offering [on Nov. 17], will look to use its newfound access to capital to expand through acquisitions, the firm’s top executive...
As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best
Nov 29 2021 // European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both...
Activist Group Calls on Insurers to Sue Oil Companies for Climate Damages
Nov 29 2021 // FRANKFURT – A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the...
Georgia High Court Leaves Truck Insurer on the Hook for Accident
Nov 24 2021 // If the owner of a trucking company drives one of his company’s trucks to a friend’s house for free repairs, is that considered a business use of the truck, or personal use? The Georgia Supreme Court effectively...
JPMorgan Beats Insurers in Appeal Over $140M Bear Stearns Settlement
Nov 23 2021 // New York’s highest court ruled on Tuesday that JPMorgan Chase & Co. is entitled to insurance coverage for $140 million of a U.S. Securities and Exchange Commission settlement with the former Bear Stearns Cos....
Managing Broker Relationships for Carriers and MGAs/MGUs
Nov 23 2021 // This post is part of a series sponsored by AgentSync. The sales role is the lifeblood of insurance, and with a complex pipeline of agencies, agents, brokers, etc., carriers and MGAs can understandably be confused by how to...
Brokers Report Cyber Insurers Requiring Security Steps Along With Higher Premiums
Nov 23 2021 // Insurers are continuing to take a hard line on underwriting and pricing cyber coverage. While commercial lines prices overall rose 8.9% in the third quarter, cyber premiums increased 27.6%, according to The Council’s...
Kentucky Contractors’ Self-Insurers’ Fund Returns $27M Dividend
Nov 19 2021 // The Kentucky Associated General Contractors’ Self-Insurers’ Fund will make a $27 million dividend payment to members next spring, the fund announced. The dividend marks the 28th straight year that the fund has...
Canada Insurer Definity Surges on Market Debut After $1.6B IPO Backed by Swiss Re
Nov 19 2021 // TORONTO – Insurer Definity Financial Corp jumped as much as 36% on its stock market debut on Thursday after raising C$2.1 billion ($1.6 billion) in Canada’s second-largest IPO. Waterloo, Ontario-based Definity...
Insurers Cut Their Appetite for Cyber Cover as Ransomware Losses Mount
Nov 19 2021 // LONDON – Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty payouts. Faced with increased...
Louisiana Woman Pleads Guilty to Conspiring to Defraud Insurance Companies
Nov 18 2021 // United States Attorney Duane A. Evans announced today that a New Orleans, Louisiana woman entered a plea of guilty today to Conspiracy to Commit Mail Fraud, in violation of Title 18, United States Code, Section 371,...
