Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
TNCs, Insurers Square Off at California Hearing
Mar 21 2014 // Update: California Commissioner Dave Jones made his initial recommendations on insurance issues and transportation network companies. Update: Excess and surplus carrier James River Insurance Co. said it’s not leaving...
Best Revises Outlook on Chubb and Subs ICR Ratings to Positive; Affirms FSR
Mar 21 2014 // A.M. Best has revised the outlook of the issuer credit ratings (ICR) to positive from stable and affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and the ICRs of “aa+”of the...
A.M. Best Downgrades South Carolina Insurer
Mar 20 2014 // A.M. Best has downgraded the financial strength rating to B (Fair) from B+ (Good) and the issuer credit rating to “bb” from “bbb-” of auto insurer Greenville Casualty Insurance Co. based in Greer,...
Bond Insurer Syncora Threatens to Cancel Coverage on Detroit Rate Swaps
Mar 19 2014 // Syncora Guarantee Inc., the bond insurer fighting Detroit’s debt-cutting plans, said it may cancel insurance it wrote for interest-rate swaps that the city is seeking to terminate with an $85 million...
Insurers Warned on Rise in Fraudulent Car Rental Schemes
Mar 19 2014 // In the last 12 months, Kraig Palmer he has seen rental car schemes “rise faster than any other auto fraud trend.” Palmer, an investigator with the California Highway Patrol, describes this fraud as a multilevel...
Small Workers’ Comp Carrier Exits California
Mar 18 2014 // Public Service Mutual Insurance Co.’s exit from California’s workers’ compensation market isn’t a reflection of the health of the state’s workers’ comp system, according to the...
How Is Obamacare Affecting Competition Among Health Insurers?
Mar 18 2014 // A snapshot of Obamacare enrollment in seven states suggests the law hasn’t significantly increased competition in health insurance markets, the Kaiser Family Foundation reported. In California, for example, four big...
Private Crop Insurers Win As Taxpayers Lose in New Farm Program, Say Critics
Mar 17 2014 // U.S. farmers last week finalized their crop insurance plans for spring planting with critics of the government-subsidized program saying insurers are set up for a bonanza after passage of the new five-year farm bill last...
Insurers to Illinois Lawmakers: Regulate Commercial Rideshare Insurance Coverage
Mar 16 2014 // Two of the nation’s largest property/casualty insurer trade associations have weighed in with Illinois lawmakers on the subject of insurance coverage for commercial rideshare companies, saying such companies should...
Businesses, Insurers Tangle Over Boston Marathon Loss Payouts
Mar 14 2014 // Some businesses that reported financial losses as a result of the Boston Marathon explosions are still wrangling with their insurance companies over compensation or have had claims denied outright as the anniversary of the...
Website Has Investment Policies of California’s Largest Insurers
Mar 14 2014 // The community investment policies of the state’s top 206 insurance companies are now available on the California Department of Insurance website. “By knowing what types of investments California insurers plan...
Uber Announces New Policy to Cover Gap
Mar 14 2014 // Ridesharing company Uber on Friday said it has new insurance to cover a gap between personal and commercial policies when drivers are using the app-based ridesharing service, while the company’s CEO said the San...
China’s Ping An Declines after Profit Trails Estimates
Mar 14 2014 // Ping An Insurance (Group) Co., China’s second-biggest insurer, fell to the lowest in more than a month in Hong Kong trading after reporting profit that trailed analysts’ estimates. The shares fell 1.1 percent...
$11+ Million a Day in UK Flood Insurance Claims Says ABI; Total $1.8+ Billion
Mar 13 2014 // The Association of British Insurers (ABI) has calculated that insurance claims from the recent spate of floods in the UK are averaging £6.7 million a day [$11.176 million]. The ABI said the “wettest winter on record...
Louisiana Health Insurers OK Third-Party Payers Through Nov. 15
Mar 12 2014 // The three major companies in Louisiana offering coverage through the federal insurance exchange have agreed to continue to accept premium payments through Nov. 15 from a program that helps HIV/AIDS patients cover their...
Competition Softens Rate Hikes for Architects, Engineers in 2014: Survey
Mar 12 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...
Insurer Consortium Offering Coverage for Derivatives Clearinghouses
Mar 11 2014 // A group of insurers is for the first time offering to shoulder risk for clearinghouses backing hundreds of millions of derivatives trades, proposing more protection in markets where a collapse could cripple the global...
Sen. Collins: Finding the Right Capital Regulations for Insurers
Mar 11 2014 // The following a statement by Senator Susan Collins, a former state insurance regulator, in testimony before the Subcommittee on Financial Institutions and Consumer Protection today on capital requirements for insurance...
Mortgage Insurers Form Lobbying Group
Mar 11 2014 // Six U.S. mortgage insurers, including units of Radian Group Inc. and Genworth Financial Inc., formed a lobbying association to push for a broader role for the industry in a revamped housing-finance system. The...
Insurers Urge Lawmakers Not to Impose Bank Capital Requirements on Industry
Mar 11 2014 // Insurance companies will urge U.S. lawmakers today to stop the Federal Reserve from imposing bank- like capital standards on their industry. A provision of the 2010 Dodd-Frank Act that overhauled U.S. financial regulation...
