Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Independent Agents See Carriers’ Online Sales As Major Threat: Accenture Survey
Jan 11 2015 // Independent insurance agents’ strengths in customer service and risk management could be challenged by changing consumer behaviors, new technologies and the evolving competitive landscape, according to a new report...
FHA Lowering Premiums Puts Pressure on Private Mortgage Insurers
Jan 11 2015 // Private mortgage insurers in the United States may have to cut premiums to better compete with the Federal Housing Administration, which plans to reduce premiums in the government’s latest attempt to encourage...
Revised TRIA Law Could Harm Small Insurers, Warns S&P
Jan 11 2015 // Standard & Poor’s offered a note of caution about the reauthorization of the federal terrorism reinsurance program, warning that changes made by Congress to boost co-insurance and deductibles could hurt small...
5 Arrested in N.Y. for Alleged Accident Staging, Insurance Fraud
Jan 9 2015 // New York Attorney General Eric T. Schneiderman announced the arrests of five individuals for their alleged roles staging auto accidents in New York’s Nassau and Suffolk counties to fraudulently receive insurance...
Florida PIP Report Shows Reduction in Rates and Fraud
Jan 9 2015 // Florida’s attempt to lower the cost of personal injury protection (PIP) automobile coverage is making progress as insurers’ rates have declined due in part to lower losses and fewer fraudulent claims. The...
Missouri Fines Insurer Nearly $162K for Misstatements to Policyholders
Jan 7 2015 // The Missouri Department of Insurance announced that a regulatory settlement agreement has been reached with Humana Insurance Co. under which the company will pay a $161,800 fine to the Missouri State School Fund. Missouri...
Michigan-Based Insurer, Hagerty, Hires Hutchinson as President
Jan 7 2015 // Classic vehicle insurer, Traverse City, Mich.-based Hagerty, hired Richard Hutchinson as the company’s president, effective Jan. 5, 2015. Hutchinson joins Hagerty from the Progressive Corp., where he has held many...
FEMA Found to Have Overpaid Florida Residents by $177M
Jan 7 2015 // The federal agency that provides grants to states following a major catastrophe is under fire for providing Florida residents an estimated $177 million in funds that should have been covered by private insurers. A recent...
North Carolina Home Insurers Weigh Appeal of Rate Denial
Jan 7 2015 // North Carolina property insurers are on hold while the industry rating agency contemplates whether to appeal a decision by regulators denying a proposed 25.3 percent rate increase. The North Carolina Rate Bureau made the...
AirAsia’s Insurers See ‘No Problems’ with Claims-Indonesia Regulator
Jan 6 2015 // Insurers have begun processing claims in the crash of an Indonesia AirAsia aircraft last month and hope to identify the beneficiaries by the end of January, an official from Indonesia’s financial regulator said on...
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...
