Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Uber, Lyft, Sidecar Toe-to-Toe With Insurers State-by-State
Jun 27 2014 // The share-and-share-alike attitude considered a virtue by some has the potential to create a rift between between ridesharing companies and insurance companies. “We try not to make it a battle,” said Robert...
Large Michigan Health Insurers Seeking Big Rate Increases in 2015
Jun 27 2014 // Most people buying their own health insurance in Michigan could see near double-digit premium increases next year. State insurance regulators said that dominant insurers Blue Care Network and Blue Cross Blue Shield want to...
Detroit Bankruptcy Judge Rejects Insurer Requests
Jun 27 2014 // Detroit overcame efforts by bond insurers that might have slowed its plan to exit bankruptcy before the end of the year, while the judge on the case said he was open to taking a bus tour to see what shape the city’s...
Bond Insurer Syncora Fighting City’s Plans in Detroit Bankruptcy
Jun 26 2014 // Bond insurer Syncora Guarantee Inc has emerged as Detroit, Mich.’s chief nemesis in the city’s historic bankruptcy case and is fighting as if its financial life depends on a decent recovery on its $400 million...
Polish Insurer PZU Selling Eurobonds to Buy RSA Units
Jun 26 2014 // PZU SA, Poland’s biggest insurer, is selling 500 million euros ($681 million) of five-year bonds to help finance an acquisition. The state-controlled insurer is tapping the market after the European Central Bank cut...
U.S. Insurance Regulators May Refuse to Apply Global Capital Rules: NAIC President-Elect Lindeen
Jun 25 2014 // The United States may refuse to apply new global capital rules in the world’s biggest insurance market because of the “breakneck speed” they are being pushed through, American regulators said on...
Insurers Could Face Suits Over Fannie-Freddie Insurance Prices
Jun 25 2014 // The regulator of Fannie Mae and Freddie Mac will consider suing insurers who charged excessive fees for hazard coverage paid by the two government-owned mortgage companies, an auditor’s report said. Fannie Mae and...
Horgan, Pace Join Transportation Insurer Canal Insurance in South Carolina
Jun 24 2014 // Canal Insurance Co. in Greenville, South Carolina, has named Tim Horgan as vice president, Transportation, and chief marketing officer, and Bob Pace, vice president and chief claims officer, to the executive leadership...
Japan’s MS&AD Planning on Insurance Acquisitions for Growth in Southeast Asia
Jun 24 2014 // MS&AD Insurance Group Holdings Inc., Japan’s largest non-life insurer, will seek acquisitions in Southeast Asia to expand its overseas business, said President and Chief Executive Officer Yasuyoshi...
U.K. Insurer AA Down Following $2.4 Billion IPO
Jun 23 2014 // AA Ltd., the U.K. roadside- assistance provider and auto insurer, fell in its first day of trading after a 1.4 billion pound ($2.4 billion) initial public offering that resulted in the exit of its private-equity...
No New Rights in Florida’s Homeowners’ Bill of Rights
Jun 23 2014 // Florida’s passage of a homeowners’ claims bill of rights left few satisfied after lawmakers largely codified current law while avoiding controversial issues such as the practice of policyholders assigning their...
Report: Home Loan Banks Place Moratorium on Captive Insurers Used by REITs
Jun 20 2014 // The Federal Home Loan Banks jointly agreed to a three-month moratorium on admitting captive insurers, which are being used by mortgage investors to access the government-chartered system, according to three people with...
Illinois Agency Critchell-Miller & Petrus Joins Keystone Insurers Group
Jun 19 2014 // Critchell-Miller & Petrus in Illinois has joined Keystone Insurers Group as a franchise partner. Keystone now has 15 agency partners in the state. Established by R.S. Critchell in 1868 and operating as R.S. Critchell...
