All the headlines from our Carriers Topic Page, ordered by recency.
Mar 11 2021 // ZURICH/TOKYO – Credit Suisse faces questions from regulators and insurers as it grapples with the fallout from the collapse of $10 billion worth of funds linked to British financial services firm Greensill Capital.The...
Mar 10 2021 // Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the year. Still, the amount of ultimate losses remains unclear and will take several...
Mar 9 2021 // Insurance Australia Group, the country’s largest general [P/C] insurer, said on Tuesday it had no net exposure to supply chain finance firm Greensill Capital, helping its shares recover from a sharp 10% drop...
Mar 9 2021 // The official committee representing child sex abuse victims in the Boy Scouts of America bankruptcy has agreed to give the BSA more time to respond to a lawsuit challenging BSA’s claims that several hundred millions...
Mar 8 2021 // Highly profitable sub-90 personal auto combined ratios recorded by 10 publicly traded property/casualty insurers in 2020 don’t look anything like the 106 recorded in 2016. But they’re headed in that direction,...
Mar 8 2021 // Long before Credit Suisse Group AG was forced to wind down a $10 billion group of funds it ran with financier Lex Greensill, there were plenty of red flags.Executives at the bank knew early on that a large portion of the...
Mar 8 2021 // The Porch Group, a software platform focused on home services companies, is acquiring Irving, Texas-based managing general agent and insurance carrier, Homeowners of America (HOA).Under a merger agreement, Porch will...
Mar 8 2021 // Peoria, Illinois-based specialty insurer serving niche property, casualty and surety markets, RLI Corp., has promoted or named several leaders to new roles.Kevin Horwitz, vice president, Claim, has assumed the role of vice...
Mar 8 2021 // The New York State Department of Financial Services (DFS) has issued new guidance for New York-regulated property/casualty insurers that write cyber insurance. This serves as the first guidance the regulator has issued on...
Mar 8 2021 // An insurance industry-backed California bill to create a new regulatory board for towing and storage companies under the California Department of Consumer Affairs has drawn opposition from the auto body industry.Assembly...
Mar 5 2021 // U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt operations, industry sources...
Mar 5 2021 // Aviva Plc is searching for a new City of London headquarters as the UK insurer prepares to slash its office footprint.The firm started looking for new offices in the financial district early last year, but shelved its...
Mar 4 2021 // LONDON – A funding crisis at Greensill Capital could spill over to some of its high-risk borrowers and lead to losses for insurers and banks that have done business with the UK-based supply chain finance firm if its...
Mar 4 2021 // MILAN – Europe’s insurance industry doesn’t have the capacity to deal with the systemic risk of a pandemic and more protection needs to be put in place through private-public partnerships, the head of Italian...
Mar 4 2021 // Root Inc.’s second earnings report as a public company reveals that the digital auto insurance startup continues to lose substantial amounts of money but it is generating substantial premium and customer growth...
Mar 3 2021 // Following complaints from property insurance policyholders, Louisiana’s top insurance regulator has issued a third bulletin reminding insurers of their obligations to policyholders as they work with consumers...
Mar 3 2021 // The seeds for the rapid disintegration of Lex Greensill’s empire were sown eight months ago, when a little-known Australian insurer called Bond and Credit Company decided not to renew insurance policies covering $4.6...
Mar 3 2021 // Oscar Health Inc., a health insurance startup backed by Google parent Alphabet Inc., sold shares in its initial public offering (IPO) on Tuesday at $39 apiece, above its target range, to raise $1.2 billion.The IPO gives...
Mar 3 2021 // Anyone who uses social media has probably come across deepfakes, which refer to media such as videos, photos or audio that have been modified using artificial intelligence.Deepfakes have become increasingly common in...
Mar 2 2021 // India’s central bank wants banks to limit ownership stakes in capital intensive insurance companies at a maximum 20%, less than half of what the current regulations permit, three sources with knowledge of the...