Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Non-Covered Claims May Exhaust Primary Limits, Trigger Umbrella
Jul 10 2014 // A recent ruling from the Fifth Circuit Court of Appeals in Louisiana clarified that an umbrella policy may be triggered even when the underlying insurance is exhausted by claims that would not be covered by the umbrella...
New Specialty Insurer SIG Targets Sports, Entertainment Risks
Jul 10 2014 // Three specialty and risk insurance veterans have launched Specialty Insurance Group (SIG) to provide custom programs for the sports, leisure and entertainment markets. The new Indianapolis-based firm is a member company of...
Agent Appointment Fee Reduction in Ohio Expected to Save Insurers $11.3M
Jul 9 2014 // A reduction in the fee insurance companies pay to “appoint” insurance agents is expected to result in $11.3 million in reduced annual costs, Lieutenant Governor and Department of Insurance Director Mary Taylor...
Chicken Producer, London Insurers Battle Over ‘Recall’ Definition
Jul 9 2014 // Foster Farms and its London insurers are facing off over the definition of “product recall” as the poultry producer seeks payment of $14.2 million in claims arising from a government-mandated shutdown of one of...
Wisconsin Insurer Fails to Activate Coverage for Nearly 300
Jul 8 2014 // Nearly 300 people who applied for stand-alone dental coverage from Anthem Blue Cross Blue Shield Wisconsin through the federal health care exchange thought they had policies but didn’t have them activated, according...
ACE to Acquire Brazil’s Commercial P&C Insurer Itaú Seguros
Jul 7 2014 // ACE Limited announced that it has reached a definitive agreement to acquire the large corporate property and casualty (P&C) business of Itaú Seguros, S.A. from Itaú Unibanco S.A. for approximately $685 million. ACE...
Insurer Helvetia Agrees to Buy Nationale Suisse in $2 Billion Deal
Jul 7 2014 // Helvetia Holding AG agreed to buy a majority stake in Nationale Suisse in a transaction valuing the company at about CHF1.8 billion ($2 billion) to create Switzerland’s third-largest insurer. Helvetia is offering...
Michigan Bill Limiting Lawsuits Against Insurers Sent to Governor
Jul 7 2014 // A bill approved by Michigan Legislature that further limits certain consumer lawsuits against insurance companies under the state’s Consumer Protection Act has been sent to Gov. Rick Snyder for his signature. The...
Uber, Lyft, Sidecar Toe-to-Toe With Insurers State-by-State
Jul 7 2014 // The share-and-share-alike attitude considered a virtue by some has become fighting words between ridesharing companies and the insurance industry. “We try not to make it a battle,” says Robert Passmore, senior...
Getting a Grip on Ridesharing Coverage
Jul 7 2014 // Ridesharing services are becoming increasingly popular among consumers looking for a more convenient alternative to taxis or other forms of public transportation, and startup ridesharing companies have been cropping up...
The Strange Case of the Use and Abuse of Insurance Ratings
Jul 7 2014 // Ratings, and rating agencies, occupy a contradictory place in many markets – not least in commercial lines insurance and reinsurance. They are very heavily relied on by both buyers and brokers, yet subject to a great...
Hidden Perils of California’s Proposed Health Insurance Price Controls
Jul 7 2014 // In November, California voters will decide whether to implement state government price controls on health insurance. Insurance agents and brokers are certain to be asked by their clients whether this ballot measure merits...
Insurers’ Yield on Investments Lowest Since 1965
Jul 6 2014 // Warren Buffett had just taken control of Berkshire Hathaway Inc., a textile maker he would build into one of the world’s largest insurers, the last time U.S. property/casualty carriers endured such low interest...
P/C Insurers’ Profit Dipped in Q1
Jul 6 2014 // Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net...
Insurers Suspect Fraud, Sue Phillips Asbestos Trust
Jul 6 2014 // Six insurance companies are suing an asbestos personal injury trust set up by a U.S. unit of Philips that the insurers suspect has been making millions of dollars in fraudulent payments to parties that cannot prove they...
How Insurers Would Wind Down If Needed to Avoid Future Bailout
Jul 3 2014 // American International Group Inc. and Prudential Financial Inc. told regulators they could divest units and halt policy sales to avoid taking a bailout in a future crisis. AIG, the insurer that repaid a U.S. rescue in...
Insurers See Rise in Severity of Lawyers’ Malpractice Claims: Ames & Gough
Jul 2 2014 // Although the frequency of law firm malpractice claims has begun to level off following a post-recession surge, their severity has continued to increase. A study by insurance broker Ames & Gough finds most leading legal...
Private Insurers Taking to South Carolina Coast; Windpool on Decline
Jul 2 2014 // More private insurers are selling wind coverage to South Carolina coastal property owners, leading to a decline in the population of the state’s windpool. The South Carolina Wind and Hail Underwriting Association...
R.I.’s Narragansett Bay Insurance Company Announces 13 Promotions
Jul 1 2014 // Narragansett Bay Insurance Company in Pawtucket, Rhode Island, has announced 13 promotions. The employees promoted, their hometowns and their new positions are listed below. All employees are based in the Pawtucket...
AmTrust to Acquire Florida Workers’ Comp Insurer OptaComp
Jun 30 2014 // AmTrust Financial Services Inc. announced that it has agreed to purchase Comp Options Insurance Co. Inc., a Jacksonville, Florida-based workers’ compensation insurer and a subsidiary of Blue Cross & Blue Shield...
