Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
UK Insurers Already Banned from Paying Ransoms to Terrorist Organizations
Nov 25 2014 // The UK Government’s proposal to ban the payment of ransoms by insurers to terrorist organizations, which will be officially presented to Parliament tomorrow, is in fact already inscribed in law, not only by the UK,...
U.S. Regulators, Insurers Skeptical of Global Capital Standards
Nov 25 2014 // A new report commissioned by the Property Casualty Insurers Association of America and the National Association of Mutual Insurance Companies has found there would be significant economic costs associated with imposing...
Texas Wind Insurer Launches Depopulation Portal
Nov 24 2014 // The Texas Windstorm Insurance Association (TWIA) has initiated a process whereby interested insurance companies may access information on TWIA insured properties in an effort to move policies to private insurers. The...
Insurer Seeks Pass on Liability in Missing Nebraska Student Lawsuit
Nov 21 2014 // Nebraska’s insurance company is asking a judge to declare that it has no duty to pay any award made against the Nebraska State Colleges Board of Trustees in a lawsuit over the 2010 disappearance of a Peru State...
New York Insurance Association Elects 2015 Officers and Board Directors
Nov 21 2014 // The New York Insurance Association (NYIA) elected its 2015 officers and board of directors at the association’s annual meeting on Nov. 13. The following officers were elected for a one-year term ending Dec. 31,...
When P/C Insurance Carriers Can Cancel: The ‘Underwriting Period’ by State
Nov 21 2014 // Every state extends insurance carriers the right to cancel a newly-written policy during the first days of the policy period. This is commonly known as the new policy “underwriting period.” An underwriting...
How Carriers Are Handling Property Cat Renewals, Terrorism, Ebola: NAPCO
Nov 21 2014 // Property/catastrophe insurers have been focused on winning new business, which means new customers are seeing bigger price cuts, according to a market report from a wholesale broker specializing in catastrophe risk...
Russian Firms Face Huge Insurance Costs as Foreign Insurers Flee
Nov 20 2014 // Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an...
Wisconsin Man Gets Jail for Bungee Jump at Insurance Company Site
Nov 19 2014 // A 26-year-old Wisconsin man has been sentenced to 30 days in jail for bungee-jumping off a 138-foot crane in Sheboygan on the Fourth of July. The Sheboygan County district attorney’s office says Nick Propson of...
House Subcommittee Renews Call for Private Flood Insurance
Nov 19 2014 // A House Financial Services subcommittee scheduled a hearing for today to focus attention on encouraging flood insurance sold by private insurers as an alternative to policies sold by the National Flood Insurance Program...
Louisiana Court Rulings in Disability Case Go from Bad to Worse for Insurer
Nov 19 2014 // We’ve all had a bad day at the office, but some days are worse than others. It doesn’t get much worse than having a court — two courts in fact — tell you that not only is your position wrong, but it is so...
Small Business Insurance Market Primed for Consolidation
Nov 18 2014 // If heavy competition breeds consolidation, then the property/casualty small business insurance market is ripe for it in the coming years. Both large and small insurers devote lots of attention to the space, but no single...
Catlin Elected Chair of Association of Bermuda Insurers and Reinsurers
Nov 18 2014 // Stephen Catlin, Catlin Group Limited CEO, has been elected chair of the Association of Bermuda Insurers and Reinsurers (ABIR) for a two-year term beginning January 1, 2015. Catlin succeeds XL Group plc CEO Mike McGavick...
New Jersey Sen. Menendez Presses for Sandy Flood Insurance Probe
Nov 17 2014 // The Federal Emergency Management Agency should investigate allegations that insurance companies handling Superstorm Sandy flood damage claims are manipulating them to shortchange victims, U.S. Sen. Robert Menendez said on...
Large Agencies More Optimistic About Future Growth: Study
Nov 17 2014 // Optimism over the future growth potential of independent agencies ties closely to the size of the independent agency, with larger agencies feeling more optimistic about future growth than their smaller counterparts,...
Maryland Says Insurers Can’t Use ‘Price Optimization’
Nov 17 2014 // The Maryland Insurance Administration (MIA) issued a bulletin alerting insurers that the use of “price optimization” in Maryland is in violation of §27-212(e)(1) of the state’s Insurance Article. MIA...
Oklahoma AG Warns of Insurer ‘Steering’ to Body Shops
Nov 17 2014 // Oklahoma Attorney General Scott Pruitt has issued a warning to citizens of his state regarding the practice of “steering” — where insurance companies strongly push consumers to take their vehicles to...
5 Tips for Clients to Consider When Buying Cyber Liability
Nov 17 2014 // There’s been a myriad of articles outlining the benefits of cyber liability insurance following the well-publicized data breaches of Target, P.F. Chang’s, JPMorgan Chase, eBay, Home Depot and hundreds of other...
Michigan Orders Unlicensed Auto Insurer to Shut Down
Nov 17 2014 // The Michigan Department of Insurance and Financial Services recently issued a cease and desist order to an unlicensed auto insurance provider, Great Lakes Michigan Insurance Company, its owner and associated...
Insurers: 1/3 of Work Comp Claims in Midwest Were from Slips, Falls
Nov 17 2014 // Workers’ compensation carriers, Accident Fund Insurance Company of America and United Heartland, report that during last year’s difficult Midwest winter, slips and falls on ice and snow accounted for nearly...
