Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Court: GEICO on Hook for $100,000 in Additional Attorney Fees
Feb 26 2015 // A Florida court has ruled that one of the state’s largest automobile insurers must pay over $100,000 in attorney fees under the “additional payments” provision of its liability coverage. The Florida Fifth...
Hong Kong-Based AIA Group Beats Estimates With 22% Jump in Profit
Feb 26 2015 // AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a bigger-than-expected 22 percent increase in full-year profit, led by business growth in China and Hong Kong. Net income climbed to $3.45...
Michigan Pot Grower Who Didn’t Tell Insurer Must Reimburse Fire Claim Payment
Feb 25 2015 // An insurance company that didn’t know about a medical marijuana nursery in a Bay City, Mich., basement can recover more than $130,000 paid after the house was destroyed by fire. A federal appeals court upheld a...
N.J. Bill Seeks to Prohibit Home Insurers From Raising Rates After Single Claim
Feb 25 2015 // A bill currently under consideration in the New Jersey Assembly would prohibit insurance companies from increasing the homeowners insurance policy’s premium based on one claim filed during the policy’s coverage...
Twice-Wounded Sandy Victims Seek Payout as FEMA Presses Insurers
Feb 25 2015 // Some homeowners hit by Hurricane Sandy say they’ve been victimized twice: first by the storm and later by insurers. John Clancy says his insurer, an Allstate Corp. unit, paid just $46,000 of the more than $200,000 in...
1st Cayman Portfolio Insurance Company Formed by Ascension Insurance
Feb 25 2015 // The first portfolio insurance company (PIC) has been formed in the Cayman Islands, as a direct result of new insurance regulations Cayman enacted in January to provide risk management alternatives for insurers incorporated...
Europe’s Insurers to Boost Dividends for Investors Seeking Higher Yields
Feb 25 2015 // Europe’s insurers are preparing to boost dividends to the highest of any industry except utilities, making use of expanding surplus capital to offer investors an alternative to record low interest earnings from...
Conn. Senator Urges DOJ to Investigate Auto Insurers’ ‘Preferred’ Repair Shops
Feb 24 2015 // U.S. Senator Richard Blumenthal (D-Conn.) is urging the Department of Justice (DOJ) to investigate a recently aired CNN report’s allegation that auto insurers may be pressuring consumers to repair their vehicles at...
New Jersey’s U.S. Senators Seek Probe of Any Sandy Insurer Fraud
Feb 23 2015 // New Jersey’s U.S. senators want the state attorney general’s office to investigate possible fraud by insurance companies following Superstorm Sandy. Sens. Robert Menendez and Cory Booker asked Acting Attorney...
Diversity Within Insurance Industry Serves Expanding Nonprofits
Feb 23 2015 // Nonprofit and social service organizations are as plentiful and diverse as the world itself. To better serve communities, nonprofits must bend, mold and adapt to rapidly changing conditions and so must the insurance...
Ohio Warns Insurers Against Using Price Optimization in Premium Rating
Feb 23 2015 // Lieutenant Governor and Department of Insurance Director Mary Taylor has warned insurance companies operating in Ohio against the use of price optimization that can result in unfair discrimination. On Jan. 29 Taylor issued...
Montana Licensed 34 Captive Insurance Companies in 2014
Feb 23 2015 // State insurance department officials report that Montana licensed 34 new captive insurance companies in 2014, bringing the state’s total number of licensed captives to 177. In addition to the 34 new captive insurance...
Heading a National Ridesharing Outline a Political Gain for Jones?
Feb 23 2015 // A committee of regulators led by California Insurance Commissioner Dave Jones is working on standards on ridesharing that departments of insurance in states across the U.S. can look to as an example. Whether the National...
5 Things to Consider When Insuring Yachts
Feb 23 2015 // Driving by a marina or boatyard, most of us admire the beautiful yachts, and may even daydream about a weekend on the water. Insurance agents likely also envision easily selling coverage to recreational boating customers....
Ex-Oppenheimer Exec Admits to Role in Sinking Oklahoma Insurer
Feb 22 2015 // A former Oppenheimer & Co. Inc. executive pleaded guilty to participating in a fraud that the U.S. says led to the collapse of an Oklahoma insurance company. Allen Reichman, 55, told a Manhattan judge that he and...
Mutual Insurers Group Names Minnesota’s Sen. Metzen Legislator of Year
Feb 20 2015 // The National Association of Mutual Insurance Companies has presented its State Legislator of the Year Award to Minnesota state Sen. James Metzen. NAMIC said it honored Metzen for his support of free-market principles and...
FEMA Shows Some Progress Implementing Flood Insurance Changes: GAO
Feb 20 2015 // The agency responsible for managing the federal flood insurance program has made progress in carrying out key changes mandated by Congress in two recent laws but lacks resources and data to completely implement others, a...
Google to Face Same Obstacles Selling Insurance Online, Says Overstock’s Byrne
Feb 20 2015 // Those now running comparison insurance shopping websites believe that they could be helped if Google enters into the business because the giant search engine could draw more attention to buying insurance online. However,...
FEMA in Talks to Settle Sandy Flood Insurance Claims
Feb 19 2015 // The Federal Emergency Management Agency is working to settle lawsuits by hundreds of Hurricane Sandy victims who challenged denials or alleged underpayments of flood insurance claims. Brad Kieserman, deputy associate...
Delaware Licensed 87 New Captive Insurers in 2014
Feb 18 2015 // Last year was another record-setting year for Delaware’s captive insurance industry, the state’s Insurance Commissioner Karen Weldin Stewart recently announced. Delaware’s captive bureau licensed 87...
