All the headlines from our Carriers Topic Page, ordered by recency.
Jun 6 2024 // Liberty Mutual Insurance is pushing for a federal judge in New Jersey to recuse himself from a construction insurance case because he did not disclose that he has been a long-time Liberty insured, a significant claimant,...
Jun 5 2024 // AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-” (Good) of Farm Bureau Mutual Insurance Company of...
Jun 5 2024 // Just under half of property/casualty insurers recently surveyed by WTW say they plan to incorporate artificial intelligence into their analytics (49%), but most have yet to bring “traditional” analytics into...
Jun 4 2024 // Insurers are preparing for an above-average loss event as a result of floods in southern Germany.“The pictures from Bavaria and Baden-Württemberg foreshadow the worst. Our companies are already receiving many claims...
Jun 3 2024 // Desjardins Group and The Insurance Company of Prince Edward Island (ICPEI) have confirmed that the transaction announced in March 2024 has closed.Financial details of the deal were not disclosed. With this acquisition,...
Jun 3 2024 // The Florida Association of Insurance Agents, the largest agent group in the state, this spring took the unprecedented step of investing in a startup insurance carrier, a move designed to help keep agents in the game and...
Jun 3 2024 // Current and former leaders with Florida property insurers have had some strong reactions to state regulators’ recent efforts to oust company executives who previously helmed now-insolvent carriers. Some have called...
Jun 3 2024 // Cracked steel columns are not “property damage,” but are building products that are not covered by a contractor’s general liability policy, the U.S. 7th Circuit Court of Appeals decided in an opinion that...
May 31 2024 // The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report.The Best’s Special...
May 30 2024 // The European Union’s executive arm is examining the feasibility of a proposal by one of its member states to sanction Russia’s Ingosstrakh Insurance Co., as part of efforts to choke revenue generating streams...
May 29 2024 // The Pennsylvania Insurance Department (PID) is reminding insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by aerial imagery.The...
May 29 2024 // One of Colombia’s biggest health insurers will gradually cease operations in the country’s public system to avoid further deterioration in its finances.Grupo de Inversiones Suramericana SA’s public...
May 24 2024 // Data fraud, questionable accounting practices and intensified catastrophes are just some of the issues that have battered the voluntary carbon market.Those misfortunes have helped spur a new line of business: Insurance...
May 24 2024 // Allianz is the lead insurer for the Singapore Airlines aircraft which left one person dead and scores injured after it hit severe turbulence and had to be diverted to Bangkok this week, two sources said on Thursday.The...
May 23 2024 // The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market Intelligence.The net combined ratio for the homeowners business,...
May 21 2024 // Auto insurance websites and apps are doing a good job of delivering foundational functional capabilities, bringing in more customers than agents and call centers. But far fewer are providing the type of value-added...
May 21 2024 // Shares of Japanese insurers MS&AD Insurance Group Holdings Inc. and Tokio Marine Holdings Inc. surged after the companies announced stock buybacks, as well as plans to sell their holdings in client companies.MS&AD,...
May 21 2024 // Philadelphia Indemnity Insurance Co. is suing a Connecticut couple the insurer alleges defrauded its insured, a Florida theater nonprofit, by using the organization’s checking and credit card accounts for more than a...
May 20 2024 // Question: Are standard, admitted, insurance carriers relevant commercial markets?Arthur J. Gallagher stated in their 2020 10K that 50% of the total U.S. commercial property/casualty market is written through alternative...
May 20 2024 // Systemic cyber risk is being discussed as a growing concern for insurers as technology advances and interconnectivity increases, but how is this risk defined? That may be one of its gray areas.“As you go through...