All the headlines from our Carriers Topic Page, ordered by recency.
Jun 9 2021 // Swedish activist investor Cevian Capital AB has bought almost 5% of Aviva Plc, placing it among the insurer’s top three holders.Christer Gardell, managing partner at Cevian, said the Stockholm-based investor now...
Jun 9 2021 // The most popular password in 2020 was exposed almost 24 million times and took less than a second to crack. While a shocking statistic, when you learn that the most popular password of 2020 was “123456,” this...
Jun 8 2021 // Washington Insurance Commissioner Mike Kreidler and California Insurance Commissioner Ricardo Lara are askikng all insurers that are currently required to report to them annually on climate change to start reporting their...
Jun 8 2021 // The total cost faced by the global insurance industry to implement IFRS 17 is estimated to be in the range of US$15 billion-$20 billion, according to a new global survey by Willis Towers Watson.While the estimated costs...
Jun 8 2021 // The Bank of England on Tuesday set out its first comprehensive stress test of the ability of the British financial system to cope with climate change, saying the results will not be used to determine capital requirements...
Jun 8 2021 // Attorneys who are hired by insurance carriers to defend policyholders from lawsuits have a duty to represent the insured, but the insurer is paying their fees.Obviously, the insurer has a financial interest in the outcome...
Jun 8 2021 // MILAN – Italian insurer Cattolica said on Monday it had decided to delay a planned 200 million euro ($244 million) cash call to give its shareholders the chance to take up a buyout offer by bigger peer Assicurazioni...
Jun 7 2021 // Even as law firms made adjustments to sustain their operations through the COVID-19 pandemic, they were unable to avoid the rising costs of malpractice claims. Indeed, the time period beginning in 2019 through mid-2020...
Jun 4 2021 // Arkansas Insurance Commissioner Alan McClain is reminding insured Arkansans seeking automobile repairs that insurance companies cannot require automobile repairs be done at a specific repair shop.“If an insurer...
Jun 4 2021 // With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, “prospects for the U.S. cyber insurance market are grim,” according to an AM Best...
Jun 4 2021 // AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of A- (excellent) and the long-term issuer credit ratings of “a-” (excellent) of New London County Mutual...
Jun 4 2021 // The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results analyzed by AM...
Jun 3 2021 // The Illinois Supreme Court recently sided with a policyholder seeking defense from its insurer for a lawsuit brought by a customer of a tanning salon alleging the insured unlawfully disclosed the customer’s biometric...
Jun 3 2021 // Legislation to provide farmers with tools to help New York efforts to mitigate the impacts of climate change is making its way through state Legislature.The Soil Health and Climate Resiliency Act passed the Assembly...
Jun 3 2021 // Most of the world’s largest insurers are failing to adequately address systemic risks such as climate change and biodiversity loss, but a group of five U.S. insurers are some of those that rank the lowest, according...
Jun 2 2021 // Howden, the London-based insurance broker, announced it is launching a UK insurer called Parhelion, which it describes as “the world’s first fully sustainable insurer.”Aiming to raise $500 million in...
Jun 2 2021 // Private equity firms have spent nearly $40 billion buying U.S. insurance companies in recent years, promising to earn higher returns on the mountains of money that insurers set aside to pay policyholders years or decades...
Jun 2 2021 // Allstate has agreed to acquire Ohio-based SafeAuto, which offers car insurance that meets the minimum legal requirements in 28 states.The acquisition will be through Allstate subsidiary National General and SafeAuto will...
Jun 1 2021 // A south-central Montana man who pleaded no contest to hiring someone to burn down his house for the insurance money so he could pay a debt to the federal government in a drug case has been ordered to pay...
Jun 1 2021 // ZURICH – Large Swiss banks and insurance companies will have to provide qualitative and quantitative information about risks they face from climate change, Swiss financial watchdog FINMA said on Monday as it released an...