Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
NAPCO Report: Prices Decreasing, Competition Increasing in P&C Space
Apr 10 2014 // Insurers have become increasingly competitive and are reducing rates for most accounts as a result of low global insured catastrophe losses and added capacity from non-traditional market sources, according to wholesale...
Texas Regulators OK Formation, Redomestication of Captive Insurers
Apr 10 2014 // The Texas Department of Insurance (TDI) announced the formation of a new captive insurer and the redomestication of two other captive entities have been approved under new rules adopted to implement Senate Bill (SB)...
Why Agencies Need to Pay More Attention to Insurer Insolvency
Apr 10 2014 // A myth is sneaking into the industry that insurer insolvency is not as important today. Belief in this myth is important to many entities. To put it more simply, a number of companies, agencies, and other firms benefit if...
Mass. Health Insurer Cuts Narcotic Prescriptions to Combat Abuse
Apr 10 2014 // The largest health insurer in Massachusetts has cut prescriptions of narcotic painkillers by an estimated 6.6 million pills in 18 months as part of a campaign to curb abuse. The decline in prescribed opiates including...
European Insurers Shifting Investments Into Loan Market, Acting Like Banks: Moody’s
Apr 9 2014 // European insurers such as Allianz SE and Axa SA are shifting investments into the loan market, taking business from banks that are being forced to increase capital and meet tougher regulations, Moody’s Investors...
Carriers Being Selective with Florida’s Citizens Clearinghouse Agency Appointments
Apr 9 2014 // Florida’s state-backed Citizens Property Insurance Corp. says the initial opening of its new web-based clearinghouse designed to make it easier for private insurers to write its policies has been promising, although...
New York Subpoenas 4 Insurers in Iran Sanctions Probe
Apr 8 2014 // New York state’s top insurance regulator has sent subpoenas to four U.S. insurance companies as part of a probe of potential sanctions violations involving Iran, a person familiar with the matter said on Tuesday. The...
China Relaxation of Insurance M&A Rules Could Invite More Global Firms
Apr 8 2014 // China’s decision to partially relax mergers and acquisition rules in the insurance industry could see global insurance firms expand their footprint in the $288 billion market. Beijing would allow insurers, including...
Anticipating Hurricane Season, Florida Insurer Cancels Policyholders
Apr 7 2014 // A Florida insurer has decided to lessen its exposure in south Florida, cancelling thousands of policyholders in anticipation of the June 1 opening of hurricane season. People’s Trust Insurance Co. reported that it is...
Group Urges New York DFS to Review Auto Insurers’ Rate-Setting Practices
Apr 7 2014 // A consumer advocacy group said its analysis shows some of New York State’s largest auto insurers are charging higher premiums to motorists who have less education and non-professional, non-managerial jobs. The New...
Owners of Leaky Iowa Apartments Win Suit Against Insurer
Apr 7 2014 // An insurance company has been told to pay $12.4 million to the owners of a West Des Moines, Iowa, apartment complex that was plagued with water leaks and mold. Construction of the Westlake apartments began in 2002....
E&O Insights: How Errors & Omissions Liability Policies Respond When Buying or Selling an Agency
Apr 7 2014 // It’s rare to read an industry magazine or attend an industry conference without the topic of mergers and acquisitions coming up. The issues addressed typically include the cost of acquisitions, tax implications,...
Competition Softens Rate Hikes for Architects, Engineers in 2014: Survey
Apr 7 2014 // Although most insurers providing professional liability insurance for architects and engineers sought to raise rates last year, the size of the increases generally failed to meet their expectations. Nevertheless, nearly...
Insurance Can’t Protect Libertarian’s Dream of Unlimited Liability: McArdle
Apr 6 2014 // If you run in libertarian circles, you hear a lot about lawsuits. It’s the obvious recourse for anyone who wants less regulation but can’t bring themselves to insist that, say, chemical companies should be...
U.S. Approves JPMorgan Release of Funds to Sanctioned Russian Insurer
Apr 3 2014 // JPMorgan Chase & Co. is unfreezing a money transfer from a Russian embassy in Central Asia to an insurer linked to U.S.-sanctioned bank after getting a go-ahead from regulators. “Following consultation with our...
Zurich CFO’s Widow Rejects Insurer’s Report on Suicide; Zurich Defends Probe
Apr 3 2014 // The widow of Zurich Insurance’s late finance chief on Wednesday rejected a report into his suicide, telling the Swiss company’s annual shareholder meeting she could not accept the findings of an investigation...
Texas Windstorm Insurer Sued for Passing on Ike Costs to Policyholders
Apr 2 2014 // A Corpus Christi man is suing the Texas Windstorm Insurance Association for hundreds of millions of dollars because he says it improperly passed on costs to policyholders like him after Hurricane Ike in 2008. Ramiro Gamboa...
N.J. Regulator Offers Tips on Shopping for Insurance Coverage
Apr 2 2014 // New Jersey Department of Banking and Insurance Commissioner Ken Kobylowski this week provided advice to consumers when shopping for insurance coverage. Whether buying and insuring a new car, starting a small business or...
Republican Bill Targets ‘Bailout’ of Health Insurers
Apr 2 2014 // U.S. Senator Marco Rubio, a prominent Republican critic of President Barack Obama’s healthcare law, unveiled legislation on Tuesday to make sure Obamacare would not add to the deficit by compensating insurance...
Insurer Group Opposes Lower Named Storm Maximum Deductible in Louisiana
Apr 2 2014 // A proposal in the Louisiana Legislature to reduce the maximum deductible on named storms and require winds in excess of 125 miles per hour before the deductible could be applied would likely result in higher insurance...
