Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Activist Investor Barington Targets Insurer Software Firm Ebix
Nov 13 2014 // Ebix Inc., a software supplier to the insurance industry, is being targeted by activist investor Barington Capital Group LP, which is seeking talks to nominate additional board members. Barington suggested four independent...
Global Insurers to Bid for Insurance, Pension Units of Halkbank in Turkey
Nov 12 2014 // Insurers from Europe, Asia and the United States are among some 20 potential bidders in the sale by Turkey’s state-run Halkbank of its pension and insurance arms, three sources close to the process said on...
Judge Backs Insurer OneBeacon in Milwaukee Archdiocese Sex Abuse Case
Nov 11 2014 // A federal judge has ruled in favor of an insurance company for the Archdiocese of Milwaukee that challenged whether it was liable for the church’s handling of child sexual abuse cases. U.S. District Judge Rudolph...
ACE Report Urges Risk Managers to Reexamine Capabilities of Insurer Partners
Nov 11 2014 // ACE urged risk managers at multinational European companies to reexamine the capabilities of their global insurance partners as the international regulatory and business environment grows increasingly complex. The...
Ghana’s Biggest Insurer Delays Opening Units in West Africa as Result of Ebola
Nov 10 2014 // SIC Insurance Co., Ghana’s biggest insurer, has put on hold plans to open units in Sierra Leone and Liberia as the nations battle to contain the world’s worst outbreak of Ebola. The company, which was studying...
