Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Oil Company Prevails in Suit Against Insurers over Pipeline Rupture
Nov 5 2015 // An Arkansas federal jury has awarded an oil company nearly $72 million in damages from lost income and expenses stemming from a 2012 breach of a pipeline carrying oil from Louisiana to Arkansas. In litigation heard in...
Technology Enables Insurers to Verify Garaging Location, Mileage and More
Nov 5 2015 // Auto insurance companies now have a tool that lets them verify the garaging address of a vehicle, confirm the driver’s commuting mileage and obtain loss costs and premium differentials for the vehicle, all before...
Top 10 Market Conduct Actions Against P/C Insurers
Nov 5 2015 // Slow claim handling, the use of unapproved rates and a failure to provide required compliant disclosures top the list of market conduct actions taken against U.S. property and casualty insurers in 2014, according to...
A.M. Best Upgrades Issuer Credit Rating of Auto Club Insurance Company of Florida
Nov 5 2015 // A.M. Best has upgraded the issuer credit rating (ICR) to “bbb+” from “bbb” of Auto Club Insurance Company of Florida (ACICF) in Tampa. Concurrently, A.M. Best has affirmed ACICF’s financial...
Michigan-Based Health Insurers to Merge
Nov 4 2015 // Two companies are planning a merger to become one of the largest health insurers in Michigan. Flint-based HealthPlus of Michigan and Detroit-based Health Alliance Plan announced Nov. 2 that they have reached an agreement...
Survey: Insurers Spent $1.52B with Diverse California Suppliers Last Year
Nov 4 2015 // Diverse California businesses supplied $1.52 billion in goods and services to insurance companies last year, according to a survey by the California Department of Insurance. The 2014 tally was a $587 million increase since...
UK Chief Regulator Appeals to Insurers as She Fights to Keep Top Job
Nov 4 2015 // UK Financial Conduct Authority acting chief Tracey McDermott appealed to insurers to get behind the regulator, setting out her plans for the industry as she fights to keep the top job. “While our roles are different,...
Insurers Deny Coverage to Illinois School District in Sex Abuse Case
Nov 3 2015 // A southwestern Illinois school district that paid $5.6 million to settle four lawsuits alleging sexual abuse of students by a former superintendent says its insurers are denying coverage for a fifth complaint. The Freeburg...
Do’s and Don’ts of E&O Suits
Nov 3 2015 // Ask any agent who has suffered through an errors and omissions (E&O) suit and they will provide sage-like insight into the professional and even personal trials created by such an ordeal. Years ago I met an agent who,...
Aegon, Transamerica’s Owner, Added to FSB’s List of 9 Too-Big-to-Fail Insurers
Nov 3 2015 // Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., has been added to a list of insurers deemed systemically important by global financial rule makers, while Italy’s Assicurazioni Generali SpA was...
Top 25 Workers’ Compensation Insurers
Nov 2 2015 // The U.S. workers’ compensation market saw solid gains in 2014, thanks in part to premium increases and favorable claims frequency. This was the fourth consecutive year in which the industry reported improved results,...
As Activist Investors Circle, AIG Posts Q3 Loss; Plans to Cut 400 Jobs
Nov 2 2015 // American International Group Inc., the insurer facing pressure from activist shareholder Carl Icahn for a breakup, posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400...
A Landslide of Bad Ideas
Nov 2 2015 // Landslides are a problem for which the United States has yet to come up with an answer. A recent essay by Penn State University law professor Christopher C. French – titled “Insuring Landslides: America’s...
A.M. Best: Europe Insurance Market Begins Recovery; Life Sector Drives Growth
Nov 2 2015 // Europe’s largest insurance markets have continued to show some signs of recovery, with many experiencing top-line growth, driven by the life sector, according to a new report by A.M. Best. In general, the increases...
Big Health Insurers Still View Obamacare as Big Opportunity
Nov 2 2015 // Slipping enrollment and struggling competitors have done little to shake the faith that the nation’s biggest health insurers have placed in the Affordable Care Act’s public insurance exchanges. Aetna executives...
Connecticut Warns Homeowners Insurers
Nov 2 2015 // The Connecticut Insurance Department sent a notice to insurance companies writing homeowners insurance in the state on Oct. 6, notifying them that they are not allowed to cancel or non-renew homeowners policies based on...
Wal-Mart Accuses Insurers of Bad Faith in Tracy Morgan Case
Nov 2 2015 // Wal-Mart Stores Inc. has filed a lawsuit against a number of its commercial excess liability insurers. The lawsuit alleges that the insurers are delaying to pay claims related to the giant retailer’s settlement paid...
Oklahoma Commissioner to Insurers: Clarify Earthquake Coverage
Nov 2 2015 // In response to questions from consumers about earthquake coverage, Oklahoma Insurance Commissioner John Doak is requiring property insurers in the state to issue a clarifying notice of earthquake coverage. In announcing...
Mutual vs. Stock Insurers
Nov 2 2015 // A.M. Best’s recently released 2015 “Mutuals at a Glance” report is an interesting report on differences between mutual and stock companies in key areas of performance. In its pages is a depiction of a...
New British Insurance Premium Tax Hike Could Further Squeeze Insurer Margins
Oct 30 2015 // A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance...
