Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
S&P: Global Multiline Insurers’ Credit Quality to Stay Strong in 2015
Oct 21 2014 // Global multiline insurers (GMI) continue to show strong credit quality, according to Standard & Poor’s Ratings Services. S&P provided an overview of the GMI sector in an article titled “Global Multiline...
P/C Insurers’ Reserves Redundancy to Continue: Moody’s
Oct 20 2014 // U.S. property/casualty insurers’ reserves will remain moderately redundant through the end of the year, Moody’s Investors Service has reported. “We expect moderately redundant reserves based on ongoing...
NJ Transit Sues Insurers Over Sandy Losses, Seeks $300M
Oct 20 2014 // New Jersey Transit, the nation’s third-largest bus, rail and light rail transportation provider, is suing several excess insurers to recoup additional $300 million for Superstorm Sandy losses. NJ Transit says its...
Top 30 Private Auto Insurers: SNL
Oct 20 2014 // CSAA Insurance Exchange, which sells private auto insurance to AAA members in about 25 states, experienced double-digit year-over-year growth in personal auto business, far outpacing other top writers in the second...
Big Data: It Isn’t Just for Carriers
Oct 20 2014 // This is the era of big data and while it’s no surprise that insurance carriers are big players, the fact is that agents and brokers of all sizes also have a growing stake in big data. While the insurance industry has...
P/C Insurers’ Net Income Rose in First-Half of 2014
Oct 20 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
P/C Direct Premium Written Up 5.2% in First-Half of 2014
Oct 20 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record high for the industry. For 2013, total DPW...
Texas Brine, Liberty Insurance at Odds Over $50M Louisiana Sinkhole Claim
Oct 20 2014 // The collapse of a portion of a salt dome that left a 37-acre sinkhole in swampy land west of Baton Rouge, La., has bubbled up into a $50 million dispute between the mine operator and its insurance company. Texas Brine LLC...
Southern California Agent Arrested for Scamming Insurers for $1.4M
Oct 20 2014 // Eric Lee, 64, of Orange County, Calif., was arrested in late September by the California Department of Insurance and charged with 20 felony counts, including grand theft and allegedly providing false or misleading...
Latest Colorado Hail Storm May Impact Insurance Industry Nationally
Oct 20 2014 // Colorado’s insurance industry is weighing its options after the latest hailstorm hit densely populated South Metro Denver — unusual for the Rockies in late September. What Coloradans might likely see down the...
AIG Ex-CEO Liddy Defends Closeness with Government During Bailout
Oct 19 2014 // Former American International Group Inc. Chief Executive Officer Edward Liddy defended his decision to work closely with the government at the time of the company’s 2008 bailout, saying he hoped to win concessions on...
Large Agencies More Optimistic About Future Growth: Vertafore Study
Oct 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,...
The Pitfalls of Rejecting a Defense Under Texas ‘Same Facts’ Test
Oct 17 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...
Detroit Settles with Bond Insurer; Chance of Debt Plan Success Boosted
Oct 17 2014 // Detroit settled with one of its last major creditors, bond insurer Financial Guaranty Insurance Co., bringing the city closer to ending the biggest-ever U.S. municipal bankruptcy. The remaining holdout creditors, led by...
Wind Insurer Settles Lawsuit with South Texas School District
Oct 16 2014 // The Texas Windstorm Insurance Association has agreed to pay nearly $8 million to settle an unpaid claims lawsuit filed by a southern school district, according to state district court records in Cameron County. The...
German and French Insurance Markets Show Resilience
Oct 16 2014 // Despite varying internal pressures, the German and French insurance markets have shown resilience in their respective ways, according to two separate reports issued by A.M. Best. While Germany’s economy is among the...
South African Insurers Urge Mandatory Auto Insurance
Oct 16 2014 // South African insurers have called on the government to start compulsory motor cover to reduce the cost to motorists and companies from the country’s millions of drivers taking to the roads without protection. In...
Elmo, Insurers Promote Literacy in Downtown Los Angeles
Oct 15 2014 // More than 100 tykes, some crawling their way out of strollers, were noticeably tickled as they scrambled about the Central Library in downtown Los Angeles, making their way to Sesame Street-themed coloring books or lining...
Mass. Health Insurers Offer Online Tools to Compare Medical Procedure Prices
Oct 15 2014 // Massachusetts health insurers have recently begun providing online cost-estimator tools that allow consumers to compare prices of medical procedures by various health care providers, as required by a transparency provision...
Detroit Close to Deal with Second Bond Insurer
Oct 15 2014 // Lawyers for Detroit and a major creditor say they’re close to a settlement in the city’s bankruptcy case. The disclosure was made on Oct. 14 as Judge Steven Rhodes resumed a trial on Detroit’s plan to fix...
