All the headlines from our Carriers Topic Page, ordered by recency.
May 17 2023 // In a year when cyber insurers notched the third-lowest industrywide loss ratio since 2015, and cyber premiums vaulted to $7.2 billion, a premium ranking shows two carriers growing more than 150% to landing in prominent...
May 16 2023 // Washington Insurance Commissioner Mike Kreidler fined Airbnb $20,000 for acting as an unauthorized insurer in the state.Kreidler also ordered the vacation rental company to obtain a surplus lines insurance policy to...
May 16 2023 // SageSure became a “unicorn” after the U.S. property insurer raised $250 million in its latest funding round, a source familiar with the matter told Reuters.A unicorn is a startup that is valued at or above $1...
May 16 2023 // An owner of Broadway theaters and Pacific Indemnity Insurance Co. have voluntarily agreed to end their remaining litigation over COVID-19 coverage claims.Under the stipulation filed May 11, each party will bear its own...
May 16 2023 // Despite the reversal seen in the U.S. equity market and rising inflation and interest rates, P/C insurers performed well in 2022, according to the latest report on the long-term impairment rates of AM Best-rated,...
May 16 2023 // Even before the Florida Legislature adopted the Insurer Accountability Act of 2023, requiring insurers to stop altering independent adjusters’ damage estimates without providing transparency, a number of Florida...
May 15 2023 // Hedge fund manager Dan Loeb said he’s no longer exploring an acquisition of specialist insurance underwriter SiriusPoint Ltd.Loeb held exploratory discussions with Bermuda-based SiriusPoint about a potential deal to...
May 9 2023 // Federal Insurance Co. must pay the $10 million policy limit in a directors and officers policy issued to Astellas Pharma, despite the carrier’s assertion that Illinois public policy forbids it from reimbursing the...
May 8 2023 // South Africa Special Risk Insurance Association told clients it won’t pay claims for damage related to a collapse of the national electricity grid, Business Day reported, citing a circular from the company.The...
May 8 2023 // Insurers paid out more than $1 billion in dog-related injury claims in 2022, a 28% increase over 2021 even though the number of claims decreased last year, according to the Insurance Information Institute (Triple-I) and...
May 8 2023 // W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.”During a call with analysts to discuss first quarter earnings,...
May 8 2023 // Two excess insurers may be liable for the more than $20 million that ExxonMobil Corp. paid to settle lawsuits filed by a contractor’s employees who were badly burned while working at an Exxon refinery, the Texas...
May 5 2023 // Alabama lawmakers legalized medical marijuana two years ago this month. But it came with a high hurdle: Dispensaries, growers, processors and other license applicants must have at least $2 million of liability and casualty...
May 5 2023 // Insurers are being forced to rethink their approach to climate change as they assess the risk of being sued for antitrust violations.Munich Re, the world’s biggest reinsurer, recently backed out of the Net Zero...
May 4 2023 // The National Association of Mutual Insurance Companies is airing concerns over what the group calls a “duplicative data call” issued by the Federal Insurance Office on climate change.The concerns are being...
May 4 2023 // Banks and insurers are more frequently adding coal exclusion policies to their investments while those with existing policies are toughening them up despite record profits in the sector, according to a report on...
May 2 2023 // WTW, the global advisory, broking and solutions company, announced the global launch of Neuron, a sophisticated digital insurance platform. Neuron uses cutting-edge technology to help underwriters and brokers connect and...
Apr 28 2023 // Canopius Group, the London-based global specialty re/insurer, has had a management shake-up, with three executives exiting the company.“Over the last 18 months, Canopius has reorganised our global underwriting...
Apr 28 2023 // The Florida Senate has unanimously approved an amended version of the Insurer Accountability Act, removing some reporting requirements for property insurers. The amended bill would continue to bar insurers from altering...
Apr 28 2023 // Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes.Since December, buyers of Russian crude oil have only been allowed to...