Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Drive Underway to Increase Truckers’ Minimum Insurance Limits
Jun 5 2014 // Truckers would be required to buy higher insurance limits under a government proposal, although how much higher is not yet known. The Federal Motor Carrier Safety Administration (FMCSA) concluded in a report to Congress...
Florida’s Sunshine State Insurance Insolvent; UPC to Assume Policies
Jun 4 2014 // Florida regulators have taken over an insolvent domestic residential property insurer, but a deal is in the works for another private company to assume the insurer’s 37,000 policies. A Leon County Circuit Court judge...
Senate OKs Capital Flexibility for Insurers Under Dodd-Frank
Jun 3 2014 // U.S. regulators would gain flexibility in how they apply capital standards to insurance companies under a bill approved today by the Senate. The bill, approved by a voice vote, would ease a Dodd-Frank Act provision that...
Wildfire Publicity Lights Fire Under California Homeowners
Jun 3 2014 // The recent plague of wildfires in Southern California and in neighboring states seems to have more people checking on their homeowners policies – and more people concerned about the threat of wildfires may be taking some...
Texas Windstorm Insurer’s Financial Outlook Improved as Hurricane Season Starts
Jun 3 2014 // Low catastrophe activity and claims experience so far this year have helped to put Texas’ insurer of last resort for properties along the Gulf Coast in a better position to face the 2014 hurricane season than it has...
Fed Adds Ex-Regulator to Oversee Systemic Risk Insurers
Jun 3 2014 // The U.S. Federal Reserve has hired a former state insurance commissioner to help it oversee non-bank financial firms that a council of regulators identified for tougher scrutiny last year. Thomas Sullivan, who led the...
MetLife Unwavering in Battle Over Systemic Risk Rules
Jun 3 2014 // Steven Kandarian got MetLife Inc. out of banking to escape Federal Reserve oversight. Now, the insurer is fighting again to avoid the central bank’s reach. Kandarian, MetLife’s chief executive officer, has...
Best Affirms AmTrust Financial and Subs P&C Ratings; Outlook Stable
Jun 2 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of AmTrust Financial Services, Inc. (AFSI),...
Professional Sports Teams Looking for Terrorism Insurance Win in Congress
Jun 2 2014 // Renewal of a U.S. terrorism insurance plan is gaining momentum in Congress, thanks to some big-league backing from a coalition that includes professional football, baseball, basketball and hockey leagues. The sports...
What Makes Agents Switch Carriers
Jun 2 2014 // Most independent insurance agents stick with their top personal lines and commercial lines companies for years, although they are less-than-satisfied in a number of carrier-performance areas. This is among the many...
Lower Cat Losses Helped Home Insurers to First Profit Since 2007: SNL
Jun 2 2014 // The U.S. homeowners insurance industry benefited from lower catastrophe activity in 2013 and became profitable for the first time since 2007, according to an analysis by SNL Financial. According to SNL, all of the top 20...
The Importance of Having an Integrated Services Solution
Jun 2 2014 // U.S. multinational businesses are increasingly seeking opportunities in new regions of the world, expanding outside of the United States and continental Europe into sub-Saharan Africa, Asia and Latin America. As their...
N.Y. Seeks More Rules for Investment Firms’ Buys of Insurers
Jun 2 2014 // The New York Department of Financial Services (DFS) has proposed new regulations to oversee private equity and investment firms’ acquisitions of insurance companies, especially acquisitions of annuity companies, in...
New Mexico Court: Insurer to Pay for Injured Worker’s Medical MJ
Jun 2 2014 // The New Mexico Court of Appeals has ruled that a worker’s employer and its insurer must pay for medical marijuana for treating the employee’s chronic pain from a job-related back injury. The court in May upheld...
Arrests in California Fraud Ring Targeting Auto Dealers and Insurers
Jun 2 2014 // A four-year investigation into an organized fraud ring has uncovered a million-dollar scheme targeting high-end vehicles through auto loan and insurance fraud has led to several arrests, the California Department of...
Tennessee Adjuster Readies for Lengthy Legal Battle with Nationwide Over ‘On Your Side’ Slogan
Jun 2 2014 // A Tennessee adjuster sued by Nationwide Insurance for alleged trademark infringement because he used the company’s slogan, On Your Side, in his firm’s name and marketing, is fighting back in court and on the...
Small, Rural P/C Insurers Seek Tax Change
Jun 2 2014 // About 600 small mutual property/casualty insurers serving rural communities would get a tax break under federal legislation filed last month in Congress. Introduced by Reps. Erik Paulsen, R-Minn., Ron Kind, D- Wis., and...
41 Charged for Multi-Million Dollar Auto Insurance Fraud Scheme in Philadelphia
May 30 2014 // The Philadelphia district attorney’s office has charged 41 people for what prosecutors described as a multi-million dollar auto insurance fraud scheme. Prosecutors allege Ronald Galati Sr. and his co-conspirators ran...
ABI Calls for Action as Fraudulent Accident Claims Rise by 18%
May 30 2014 // The Association of British Insurers latest study concludes that “the value of fraudulent insurance claims uncovered by insurers rose to a record £1.3 billion [$2.177 billion] in 2013, up 18 percent on the previous...
TurboRater Feature Lets Agents Control Carrier Ranking in Comparative Rating
May 29 2014 // The newest agency software feature for the personal lines comparative rating system TurboRater allows agency managers to control the ranking order of the carriers their producers see on the quote comparison list,...
