Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Foreign Mortgage Bond Buyers Surpass Danish Pension Funds, Insurers
Nov 4 2014 // International investors are overtaking Danish pension funds and insurers as the biggest buyers of the Nordic country’s covered mortgage bonds, creating new risks for the $500 billion market. The institutional...
Maryland Insurers Using ‘Price Optimization’ Ordered to File Corrective Action Plan
Nov 3 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...
Insurers Win Case to Kill HUD Disparate Impact Rule
Nov 3 2014 // Property/casualty insurer trade groups won a court victory Monday when a federal judge ruled in their favor that the U.S. Fair Housing Act does not prohibit housing practices including the pricing of homeowners insurance...
South Carolina Approves CAT Models, Weighs Building Public Model
Nov 3 2014 // South Carolina regulators have approved seven private catastrophe models for use in ratemaking while conducting a legislatively mandated study on the feasibility of constructing a public model. South Carolina Insurance...
Homeowners No Longer Taking Back Seat to Auto for Insurers
Nov 3 2014 // Property/casualty insurers are increasingly using analytics as a tool to help with their homeowners’ pricing, reflecting a belief that the line could become a bigger growth engine than their auto business. At the...
Claims Trends
Nov 3 2014 // In terms of agency E&O trends, carriers are closely eyeing an uptick in claims severity. According to Curtis Pearsall, president of Pearsall Associates Inc., a risk management consulting firm specializing agency...
Average Claims Experience Not Enough to Retain Customers: Accenture
Nov 3 2014 // Although a large majority (86 percent) of home and auto insurance customers who have submitted a claim in the past two years are satisfied with how it was handled, 41 percent of those who have submitted a claim are still...
Predictions on the Demise of the Independent Agent Are Premature Yet …
Nov 3 2014 // This column has covered a number of important technology issues facing agents, including security, social media, mobile technology, and the customer experience. A groundbreaking study issued last month and an equally...
E&O Insights: How Important Is Your E&O Policy?
Nov 3 2014 // Errors and omissions (E&O) coverage: It’s one of the most important coverages you can secure. After all, your agency’s protection depends heavily on your E&O policy and how it works. Despite this, it...
Workers’ Comp Writers Using More Mobile Device Apps, Other Technology
Nov 3 2014 // Workers’ compensation insurers are increasingly turning to mobile device applications and other technology innovations in their bid to remain a force in the industry and serve their clients, Novarica determined in a...
How to Navigate Today’s Agency E&O Market
Nov 3 2014 // While many agencies stick with their agency errors and omissions (E&O) carrier, those that do shop around tend to do so when premiums are rising. According to Insurance Journal‘s exclusive 2014 Agency E&O...
Wind Insurer Settles Lawsuit with South Texas School District
Nov 3 2014 // The Texas Windstorm Insurance Association has agreed to pay nearly $8 million to settle an unpaid claims lawsuit filed by a South Texas school district, according to district court records in Cameron County. The...
Jury Finds Texas Windstorm Insurer Adequately Paid City for Ike Claims
Nov 3 2014 // Texas’ wind and hail insurer of last resort in coastal areas announced that a judgment has been entered in its favor in a lawsuit brought by League City in Southeast Texas. The judgment signed on Oct. 16, 2014, by...
The Pitfalls of Rejecting a Defense Under Texas ‘Same Facts’ Test
Nov 3 2014 // Texas law recognizes that an insurer’s reservation of rights can create a potential conflict of interest. (Northern County Mut. Ins. Co. v. Davalos, 140 S.W.3d 685 (Tex. 2004)). Although there is a potential for...
Small Businesses Moving to Obamacare Exchanges
Nov 2 2014 // U.S. small businesses are dropping health insurance for their workers, as Obamacare lets them send employees to new marketplaces where they can often get subsidies from the government to buy coverage. WellPoint...
Louisiana’s Direct Action Statute’s Effect on Claims-Made Policy Notice Provisions
Oct 31 2014 // Typical claims-made insurance policies require claims to be both made and reported within the applicable policy period. Under this type of policy, the risk of a claim incurred but not made, as well as a claim made but not...
Top 25 D&O Insurers Show Healthy Growth: SNL
Oct 31 2014 // Direct premiums written for the directors’ and officers’ liability insurance industry grew 7.35 percent year over year in the first half of 2014, rising to $2.91 billion, according to an SNL Financial analysis...
Africa Provides Insurers With New Business Opportunities
Oct 31 2014 // Global insurance companies are flocking to Africa, where millions of people have started earning enough to afford business cover and protection for their families, said private equity firm LeapFrog...
Regulator Takes Focus on Climate Change Preparedness
Oct 30 2014 // With a calm demeanor and in a somewhat scientific tone he doesn’t mind using while explaining his stance on something, Mike Kreidler stood by his decision to call out the insurance industry and the rest of the...
Florida Approves Up to 183K Takeouts from Citizens for 2015
Oct 30 2014 // The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 180,040 personal residential policies and 2,527 commercial residential polices from Citizens Property Insurance Corp. The OIR said these...
