Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Exposing Insurance Frauds Saves UK Customers $5.588 Million a Day: ABI Study
Jul 13 2015 // The Association of British Insurers (ABI) has published figures showing that £3.6 million [$5.588 Million] a day is being “saved by exposing insurance cheats.” It is only one of the “factors helping to...
Nautilus Insurance Enhances Contractors Program
Jul 13 2015 // Coverage Now Available in 48 States, Including California. Scottsdale, AZ, July 13 2015 — Nautilus Insurance, a W. R. Berkley Company®, has announced the enhancement of its General Liability product offering for...
Missouri Insurance Department Returns $6.3M to Consumers
Jul 10 2015 // The Missouri Department of Insurance helped consumers who filed a complaint against their insurance company receive an additional $6.3 million in claim payments in the first half of 2015. Health insurance generated the...
Law Firms Face Large Malpractice Claims as Risks Grow: Study
Jul 10 2015 // As law firms adjust to the realities of the current business environment, they continue to fall victim to malpractice claims, which can be costly to defend and may result in enduring reputational damage. A new study by...
UK Insurers to Stress Test Capital Reserves Against Synchronized Terrorist Attack
Jul 10 2015 // UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential...
Munich Re’s ERGO May Cancel Purchase of Greek Insurer on Instability
Jul 10 2015 // Munich Re’s ERGO Insurance unit may cancel its planned 90.1 million euro ($100 million) acquisition of Greece’s ATE Insurance SA if the country doesn’t return to stability. “Depending upon how the...
A.M. Best: Eurozone Insurers Remain Robust Despite Instability in Greece
Jul 10 2015 // The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although (re)insurers operating in the economic bloc are well positioned to withstand a continued period of volatility, according...
Bermuda Adopts Solvency II ‘Equivalency’ Measures for ‘Open Insurance Markets’
Jul 10 2015 // A bulletin from Bermuda notes that the island’s parliament took regulatory action this week to align its regulatory insurance procedures, which it hopes will lead to “recognition by the European Commission as...
Bank of England to Rule on Risk Models as Insurers Prepare for Solvency II
Jul 10 2015 // The Bank of England will issue its verdict in December on the models insurance companies use to quantify risk and determine capital requirements as the industry prepares for the new European Union rules known as Solvency...
N.Y. Court: Insurer’s $5M Flood Sub-Limit Applies to Delay-in-Completion Loss
Jul 9 2015 // The New York Supreme Court’s Appellate Division affirmed that a $5 million flood sub-limit in a builders risk policy that Zurich American Insurance issued to a New York property developer applies to the...
Va. City Could Face Foreclosure on City Hall Over Bond Debt, Insurer Says
Jul 9 2015 // An insurance company says Buena Vista, Virginia, could face foreclosure on its city hall and police department if a bond debt isn’t paid. The Roanoke Times reports that ACA Financial Guaranty Corp. sent a letter on...
2015 Tennessee Insurance Legislation Wrap-Up
Jul 9 2015 // Below is a summary of Tennessee legislation that pertains to insurance enacted in 2015. Uninsured Motorist, “James Lee Atwood Jr. Law” The James Lee Atwood Jr. Law, named for a driver who was killed by an...
UK Chancellor of Exchequer Angers Insurers by Raising Premium Tax
Jul 8 2015 // UK Chancellor of the Exchequer George Osborne angered Britain’s insurance industry by unexpectedly increasing a tax on policy holders that is expected to raise an extra 1.8 billion pounds ($2.8 billion). The...
Berkshire Hathaway’s MedPro Buying Oklahoma Medical Liability Insurer PLICO
Jul 8 2015 // Berkshire Hathaway’s MedPro Group has agreed to acquire Oklahoma healthcare liability insurer PLICO Inc., which is owned by the Oklahoma State Medical Association (OSMA). The boards of each entity have approved...
N.Y. Assembly OKs Bill to Expedite Claims Processes After Disasters
Jul 8 2015 // The New York State Assembly recently approved a bill (A04458) that would require insurers to expedite claims investigation and settlement processes after declared disasters and emergencies. Under the legislation, which...
IMF Urges U.S. Adopt Tougher Rules for Insurers
Jul 8 2015 // The U.S. needs to follow through on plans to impose tougher rules on non-bank financial institutions such as mutual funds and insurers that are increasingly posing a risk to the financial system, the International Monetary...
Georgia Hopes to Establish State as Captive-Friendly with Newly-Revised Law Lowering Taxes, Capital Requirements
Jul 6 2015 // Companies looking to form captives in Georgia can now do so with more favorable conditions since the passage of several business-friendly amendments to the Georgia captive insurance law, which became effective July 1. The...
Conn. Insurer Settles Ebola Fear Lawsuit
Jul 6 2015 // The insurance carrier for a Connecticut city paid $30,000 to settle a lawsuit filed by the family of a third-grader who was barred from school for several days because of Ebola fears. School officials in Milford,...
Supreme Court Opinion to Have No Effect on Health Insurers: S&P
Jul 6 2015 // The Supreme Court opinion upholding current tax subsidies under the Affordable Care Act (ACA) will not have any impact on rated U.S. not-for-profit and for-profit health insurance firms because it continues the current...
P/C Direct Premium Written Up Nearly 4 Percent
Jul 6 2015 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2014, more than $570 billion of DPW was reported, a record-high for the industry. For 2014, total...
