Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Appeals Court Sides with Paralyzed Texas Cheerleader in Suit Against Insurer
Mar 2 2014 // A federal appeals court has upheld judgment in favor of a former Texas cheerleader paralyzed in a tumbling accident who sued Nebraska-based insurance company Mutual of Omaha for refusing to pay his claim. The lawsuit...
New Estimates Say UK Floods Could Cost Insurers up to $2.5 Billion
Feb 28 2014 // An additional £500 million [$838 million] has been added to the flood loss estimates from the almost continual storms, some reaching hurricane strength, which have produced widespread flooding to parts of Britain since...
Best Maintains Review/Negative Status for OneBeacon Group’s Ratings
Feb 28 2014 // A.M. Best has maintained the under review with negative implications status on the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of certain indirect...
RSA’s CEO Hester Taps Buffett for Reinsurance; Confirms Share Sale
Feb 28 2014 // After less than a month on the job, RSA Insurance Group Plc Chief Executive Officer Stephen Hester announced a stock sale and tapped Warren Buffett for reinsurance to help strengthen the insurer after its scandal in...
Insurers to Accept Premium Payments from Louisiana HIV Patients, for Now
Feb 27 2014 // A federal judge in Louisiana received assurances that three insurance companies won’t immediately stop accepting premium payments from a program that helps HIV and AIDS patients cover health care costs. After...
Georgia Recovers $1M from Drivers, Insurers for Damage to State Property
Feb 27 2014 // State transportation officials say an initiative to recover money to pay for damage to state property in traffic accidents has netted the agency more than $1 million. GDOT officials say annual damages to state property —...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest...
N.J. Court Seeking Ways to Expedite Sandy Flood Litigation Process
Feb 26 2014 // A New Jersey federal court is seeking ways to expedite the litigation process for hundreds of flood insurance coverage-related cases that have been filed in wake of Superstorm Sandy. The U.S. District Court for the...
Texas Insurer Group Seeks Nominations for Industry Leadership Award
Feb 26 2014 // The Insurance Council of Texas (ICT) is seeking nominations for its annual Raymond Mauk Leadership Award, the council’s highest honor. The award will be presented on July 17, at the annual Mid-Year Property and...
Winter Claims Cost Insurers $1.5 Billion Thus Far
Feb 26 2014 // Near-record snowfall and prolonged extreme cold throughout many parts of the country have caused insurers to pay more than $1.5 billion to more than 175,00 claimants thus far, according to the Insurance Information...
Largest Insurers Would Face Asset Tax Under GOP Plan
Feb 26 2014 // The biggest U.S. banks and insurance companies would have to pay a quarterly 3.5 basis-point tax on assets exceeding $500 billion under a plan to be unveiled this week by Congress’s top Republican tax writer. The...
Gjensidige Sells $546 Million Stake in Norway Insurer Storebrand
Feb 26 2014 // Gjensidige Forsikring ASA, Norway’s largest insurer, sold its remaining 20.1 percent stake in life insurance and pension provider Storebrand ASA for 3.3 billion kroner ($546 million) as it focuses on general...
Direct Line Says Cost of U.K. Floods Could Reach $183.6 Million
Feb 26 2014 // Direct Line Insurance Group Plc, seen as one of the insurers most vulnerable to losses from the recent U.K. storms, said weather claims may cost as much £110 million ($183.6 million) as full-year profit jumped. Pretax...
Falling Reinsurance Rates Presage Sector Shake-out
Feb 25 2014 // A slump in reinsurance prices is playing to the strengths of the biggest global reinsurers, while piling pressure on smaller competitors to diversify or consolidate. Reinsurers, which help insurers shoulder risk in...
QBE Jumps on Premiums, North American Unit Outlook: Sydney Mover
Feb 25 2014 // QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, climbed to its highest level in more than two months on plans to increase premium rates and bring its North American unit back to profit...
Louisiana Group Sues to Force Insurers to Take Federal AIDS Money
Feb 24 2014 // An advocacy group has filed a federal lawsuit seeking to force insurance companies in Louisiana to take payments from a federal program that helps HIV and AIDS patients. Lambda Legal filed the suit in a Baton Rouge federal...
Best Affirms Ratings of Beazley Insurance Company; Outlook Stable
Feb 24 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Beazley Insurance Company, Inc. (BICI), based in Farmington, Conn., a subsidiary of Beazley...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 24 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60...
No Rate Hike Needed, Say Carolina Auto Insurers
Feb 24 2014 // North Carolina auto insurers say no rate increase is needed for auto insurance policies in the coming year. Insurance Commissioner Wayne Goodwin said the Department of Insurance has received the annual auto insurance rate...
Damages Allowed Over Insurer’s Refusal to Defend West Virginia Man
Feb 24 2014 // A former Wyoming County (West Virginia) Council on Aging director can recover damages for aggravation and inconvenience from an insurance company that refused to represent him when the state sued him, a federal appeals...
