Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Small Business Insurance Market Primed for Consolidation
Dec 1 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...
2014 State Specialist P/C Insurers Revealed
Dec 1 2014 // The Demotech Company Classification System categorizes insurers into one of 11 categories based on an analysis of data reported by the companies to the National Association of Insurance Commissioners (NAIC). The 11...
Program Market a Target for Expansion, Good & Bad
Dec 1 2014 // Market Outpacing Overall P/C Industry The program insurance business market enjoyed its third consecutive year of growth in 2013 and appears on track to continue its expansion. However, while program business is attracting...
Removing Barriers to More Private Flood Insurance
Dec 1 2014 // A House Financial Services subcommittee recently held hearing to focus attention on legislation sponsored by two Florida representatives who want to encourage more flood insurance sales by private insurers as an...
Texas Windstorm Insurer Launches Depopulation Portal
Dec 1 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...
N.J. Sen. Menendez Presses for Sandy Flood Insurance Probe
Dec 1 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, D-N.J.,...
2 AIG Carriers File for Redomestication
Dec 1 2014 // Two subsidiaries of the American International Group – Granite State Insurance Co. and New Hampshire Insurance Co. — recently filed for approval a plan of redomestication that would change their state of domicile...
Aetna to Establish Captive Insurer in Connecticut
Dec 1 2014 // Connecticut Gov. Dannel P. Malloy announced on Nov. 6 that Hartford, Connecticut-headquartered health insurer Aetna is establishing its captive insurance company in its home state, becoming the state’s fifth licensed...
Minnesota Archdiocese Sues Insurance Companies for Coverage
Nov 26 2014 // The Archdiocese of St. Paul and Minneapolis in Minnesota said it is suing some 20 insurance companies to try to force them to cover its liabilities for clergy sex abuse claims. The complaint, filed in federal court, says...
Insurers’ Winter Storm Losses to Climb Due to Polar Vortex: I.I.I.
Nov 26 2014 // Insured losses from winter storms in the U.S. will climb well above $2.5 billion in 2014, double the annual average over the previous two decades. The Insurance Information Institute says the polar vortex will be...
Missouri Seeking Administrator/Insurer for Workers’ Comp Residual Market
Nov 25 2014 // The Missouri Department of Insurance, Financial Institutions & Professional Registration is seeking to contract with one or more entities to administer and provide workers’ compensation insurance for the...
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...
