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 16 2015 // An Arkansas federal jury has awarded an oil company nearly $72 million in damages from lost income and expenses stemming from the breach of a pipeline carrying oil from Louisiana to Arkansas. In litigation heard in federal...
Louisiana Citizens Property Insurance to Shed More Policies in 2016
Nov 15 2015 // Louisiana’s property insurer of last resort expects to shift about 10,000 policies to private insurance companies for 2016, a move that will reduce premiums by roughly $20 million. Interim Chief Executive Officer...
Delaware Officials Say Several Insurers Received Fraudulent Invoice
Nov 12 2015 // The Delaware Department of Insurance issued a bulletin to all insurance carriers doing business in Delaware, warning them to look out for deceptive invoices. The bulletin No. 80 (“Deceptive Solicitation From...
N.Y. Regulators Weigh Cybersecurity Requirements for Banks, Insurers
Nov 12 2015 // New York regulators are considering a host of cybersecurity requirements for banks and insurers and urged other state and federal authorities to collaborate on establishing a framework of defenses for the financial...
Insurers Face Claims of $600 Million from Brazilian Mine Disaster: Sources
Nov 11 2015 // Insurers covering risks for a Brazilian mine where two dams burst last week, killing at least six people, could pay up to $600 million in claims, a source with direct knowledge of the matter said on Monday. A property...
Delaware Marks Licensing of 1,000th Captive Insurer
Nov 10 2015 // Delaware Gov. Jack Markell presented Insurance Commissioner Karen Weldin Stewart with a proclamation Monday recognizing the Department of Insurance’s (DOI) licensing of its 1,000 captive insurance company, AWI Inc....
Inclusion on List of Too-Big-to-Fail Insurers May Alter Business Strategy: Fitch
Nov 10 2015 // A change to the list of globally systemically important insurers (G-SIIs) suggests the potential for being added to or removed from the list could play a significant role in setting strategy for some major insurers,...
Supreme Court in Bind Over Insurer’s Right to Insured’s Damages Money
Nov 10 2015 // Which do the conservative justices hate more: personal-injury lawyers or interpreting a law loosely to expand the power of lower courts? That question was to be on the table Monday at the U.S. Supreme Court. The justices...
A Conversation on Innovation and the Industry’s Future with ACORD’s Hartnett
Nov 9 2015 // There are not many insurance executives who will quote inventor Thomas Edison, Microsoft’s Steve Baumer, futurist Alvin Toffler, Moore’s Law and philosophers Aristotle and Plato. There are also not many people...
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,...
