Most Popular Carriers Headlines This Year
The most viewed headlines from our Carriers Topic Page over the last year.
#1 Independent Adjusters Charge Florida Insurers With Doctoring Damage Estimates
Dec 14 2022 // Do some Florida property insurance companies hire independent adjusters to inspect property claims, then routinely alter their inspection reports to reduce estimated losses? Yes, and it’s a widespread and fraudulent...
#2 Starting July 1, Florida Insurers Face New Guardrails on Force-Placed Insurance
Jun 30 2023 // Starting Saturday, insurers and mortgage lenders for Florida homeowners will face some new restrictions on lender-placed insurance policies, thanks to a bill approved by state lawmakers this year. House Bill 793 takes...
#3 Update: Demotech Drops Frontline But Insurer Gets BBB+ from KBRA
Jan 4 2023 // Frontline Insurance Group, parent to two significant property insurers in Florida, has had its financial rating stability withdrawn by the Demotech rating firm. Frontline corporate leaders were not available to talk about...
#4 Update: Pickleball Explosion in Florida Creating New Hits and Misses for Insurers, Agents
Dec 5 2022 // If the insurance industry hasn’t noticed, the sport known as pickleball is exploding across the country, especially in Florida, where more than 15 indoor clubs, replete with air conditioning, cafes, locker rooms,...
#5 Hurricane Ian Losses Up to $47B in Florida, Sinking More Insurers, CoreLogic Calculates
Sep 30 2022 // Wind and storm-surge losses from Hurricane Ian could reach as $47 billion in Florida alone, a figure made larger by inflation and rising interest rates, the property analytics firm CoreLogic said in a new...
#6 Insurer Avoids Dog Bite Claim Brought by Homeowner Selling Firearms Out of Garage
Jun 15 2023 // Nationwide General Insurance has avoided payment of a dog bite claim filed by a homeowner it insured who ran a firearms business out of his garage. A federal district court for Alabama ruled that the business exclusions in...
#7 Ray of Sunshine: Florida Insurers Show Profit as Citizens Takeouts Rise – S&P Global
Aug 2 2023 // Republished from S&P Global Market Intelligence For the first time in three years, Florida’s struggling domestic residential property insurers have posted a quarterly profit, according to an analysis by S&P...
#8 Florida’s SB 2A Ended One-Way Legal Fees. Now Some Insurers Say it’s Retroactive
Mar 1 2023 // Plaintiffs’ attorneys took it on the chin when Florida lawmakers in December approved Senate Bill 2A, which ended the practice of one-way attorney fees in property insurance litigation. Now, though, a number of...
#9 Only 3 Insurers Sign Up for Florida Re Plan and Hopes for a New Plan Are Fading Fast
Apr 19 2023 // After five years of tweaks to Florida’s insurance and tort laws, all designed to reduce the vast amount of claims litigation and – eventually – bring down property rates, many in the industry argue that...
#10 Near $27B Underwriting Loss in 2022 Largest for U.S. P/C Insurers Since 2011
Mar 30 2023 // Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property...
#11 Insurer Faces Class Action for Depreciating Labor in Actual Cash Value Payments
Feb 16 2023 // Two Trumbull Insurance customers who believe they were short-changed on claims payments have filed a proposed class action suit against the insurer, alleging Trumbull has been incorrectly calculating some property claim...
#12 Scratched EV Battery? Your Insurer May Be Forced to Junk the Whole Car
Mar 20 2023 // For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles – leading to higher premiums and...
#13 Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal
Feb 8 2023 // Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately $1.1 billion. As part of the...
#14 Insurers Say ‘Bazooka’ of Bogus Boy Scouts Claims is Abuse of Bankruptcy System
Nov 10 2022 // A group of insurers – including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers – are challenging an approval of the Boy Scouts of America’s $2.46 billion bankruptcy...
#15 Farmers Limits New Homeowners Policies in California, Prompting Insurer Group to Call for Reform
Jul 7 2023 // Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier that follows a similar decision by State Farm last month and adds to a growing list of major carriers...
#16 Insurer Group Reacts to California Department of Insurance Musing on Cat Modeling
Jun 8 2023 // Insurer groups may be seeing the light at the end of the tunnel with a hint of a possible change in a regulator’s attitude toward the use of catastrophe modeling in the California market for wildfire insurers. The...
#17 AMBest Report Shows Florida Insurers Far Out of Line on Reinsurance Dependency
Sep 15 2022 // Mango Questions State-Run Ratings Agency Idea Florida-domiciled property carriers are extremely reliant on the reinsurance market, making them vulnerable to coming price hikes, a just-released report from the AM Best...
#18 Insurer Loses $500K in Beer Pong Challenge by Badly Misplaying Liquor Liability Claim
Sep 1 2022 // An insurer that mishandled a liquor liability claim resulting from a fight after a beer pong tournament has discovered the tab is considerably bigger than it first thought. Hospitality Mutual Insurance Co. will have to pay...
#19 Oldest Black-Owned Insurance Company Goes Quietly into Liquidation
Oct 14 2022 // After more than 120 years, the oldest black-owned insurance company in the United States has all but come to an end, and will soon be liquidated. North Carolina Mutual Life Insurance Co., which began in 1898 and whose...
#20 Florida Insurers Show a Little Profit in 2023 But Two Join the Watch List
Jul 11 2023 // Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state...
