Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. Insurers Still Funding Asbestos, Environmental Liabilities: A.M. Best
Jan 5 2015 // The current estimate of net asbestos losses for the U.S. property/casualty industry remains at $85 billion, with net environmental losses estimated at $42 billion, according to a new Best’s Special Report. According...
Workers’ Comp Insurers Unfazed by TRIA Failure For Now But Expect Quick Fix
Jan 4 2015 // The expectation that the new Congress that convenes this week will act quickly to reauthorize the Terrorism Risk Insurance Act (TRIA) is keeping workers’ compensation insurers in particular from altering their...
CNA Seeks to Limit Liability in Minnesota Priest Abuse Case
Jan 2 2015 // An insurance company has asked a court to limit or eliminate its responsibility to cover some clergy sex abuse claims against the Archdiocese of St. Paul and Minneapolis. Last month, the archdiocese sued about 20 insurers...
New York Regulator Surveying Insurers on TRIA Risk
Dec 31 2014 // New York’s Financial Services Superintendent Benjamin Lawsky has directed insurers that are licensed to write commercial property or liability business lines in the state to submit information on how they are...
Insurers Dogged by Claims of Slanted Sandy Reports
Dec 28 2014 // When Superstorm Sandy hit the East Coast, flood insurance companies working for the Federal Emergency Management Agency dispatched an army of structural engineers to do some detective work. Their assignment: Find out how...
Report: Texas Insurance Industry Impacts State Economy in a Big Way
Dec 23 2014 // A new study commissioned by group of state and national trade associations shows that the insurance industry — including both the property/casualty and life/health sectors — positively impacts the Texas economy. For...
Risk Modelers Working on Tools for Gauging Cyber Attack Risk
Dec 23 2014 // Even as the Sony Corp. cyber attack laid bare the kinds of vulnerabilities that typically drive companies to buy insurance policies, the lack of a risk model for insurers means such protection is not always easy to...
North Little Rock Schools Want Insurer to Help Pay for Tax Error
Dec 22 2014 // The North Little Rock School Board in Arkansas wants the Pulaski County assessor’s office to seek help from its insurance company after problems with tax bills diverted $1 million to Pulaski County schools The...
A.M. Best: Rated Middle Eastern Insurers Well-Capitalized; Reliant on Reinsurance
Dec 22 2014 // Insurers in the Middle East have strong levels of risk-adjusted capital, although they continue to rely heavily on reinsurance protection and carry elevated levels of investment risk. A new report from A.M. Best states...
A.M. Best: Ratings Stable for Western European (Re)Insurers
Dec 22 2014 // Insurers and reinsurers in western Europe posted solid performances in 2014 and retained their capital strength against a backdrop of economic calm, according to a new special report from A.M. Best. The report analyzes the...
Aspen Re Renews Special Purpose Insurer Silverton for 2015
Dec 22 2014 // Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Limited, announced that its Aspen Capital Markets division has renewed Silverton Re for 2015. Silverton Re is a Bermuda-domiciled special purpose...
LeapFrog, Lombard to Acquire Stakes in Thai Insurer SMK from RSA
Dec 19 2014 // LeapFrog Investments, Lombard Investments, and Syn Mun Kong Insurance Public Company Limited (SMK) [SMK:Bangkok] announced today that LeapFrog and Lombard will each acquire approximately 11 percent of SMK, from Royal &...
President Obama Signs Bill Easing Insurer Capital Standards
Dec 19 2014 // President Barack Obama has signed legislation intended to relax capital and liquidity standards for insurers under the Dodd-Frank Act. The law gives the Federal Reserve flexibility in setting the standard for insurers. The...
MetLife Considers Appeal of Systemic Risk Label
Dec 19 2014 // MetLife Inc., the biggest U.S. life insurer by assets, was labeled a systemically important financial institution by a council of regulators and said it will consider whether to sue the government over the decision. The...
Insurer Philadelphia Cos. Counts Carbon Footprint
Dec 18 2014 // It’s no secret that many property/casualty insurers are tackling climate change on the back end through more sophisticated catastrophe modeling, calls for more resilient communities and pricing. But it seems to be a...
Price Optimization Allegations Challenged, NAIC Investigating Practice
Dec 18 2014 // Reaction to industry-wide price optimization allegations from a consumer group known to call out insurers has been somewhat critical yet guarded – however it appears regulators may already be starting to look into the...
UK Government, Insurers Reach Agreement to Establish Flood Re
Dec 18 2014 // The UK’s insurance industry and Government have announced the final agreement securing the development and delivery of Flood Re, described as a “pooled insurance system which will allow even the highest risk...
Top 10 Casualty Insurance Trends for 2015: Marsh
Dec 17 2014 // While casualty insurance rates remain stable overall and new capacity continues to enter the market, certain classes of business continue to be difficult to place, according to Marsh’s U.S. Casualty Practice. The...
A.M. Best Report: ‘Grey Swan’ Risks Can Affect Balance Sheets, Ratings
Dec 17 2014 // A new special report from A.M. Best discusses the need for non-life and life insurers to address threats called “grey swans,” the low-probability, high-severity events that have the potential to impair balance...
When P/C Insurance Carriers Can Cancel: Mid-term Cancellation Provisions by State
Dec 15 2014 // Even after the underwriting period has ended, insurance carriers have the opportunity to cancel a property/casualty insurance policy prior to the renewal. However, the reasons insurance carriers are allowed to use to...
