Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Lawmakers Turn Attention to Privatizing Commercial Business in Citizens
Mar 7 2014 // One year after enacting reforms designed to reduce the amount of homeowners business in the state’s insurer, state lawmakers are now looking to further shrink Citizens Property Insurance Corp. by targeting its...
The Future of Drones in the Insurance Industry
Mar 7 2014 // After a catastrophe hits, mobile units filled with adjusters are on site to evaluate property damage. Flash forward five years and an insured may never meet the property adjuster handling his or her claim. Instead, a drone...
Missouri Department of Insurance Recovers $16.1M from Insurers in 2013
Mar 6 2014 // The Missouri Department of Insurance announced it returned $16.1 million to consumers in 2013 after they filed a complaint against their insurance company. Record recoveries were recorded in 2011 when several natural...
Group Warns Maryland’s Auto Repair Bill Could Raise Costs for Consumers
Mar 6 2014 // An industry association says a recently proposed bill in Maryland could hurt consumers by limiting insurers’ ability to manage auto body repairs and control costs. Maryland’s Senate Bill 487 (Motor Vehicle...
Former Insurance Company Secretary Leaves $226K to Kansas Animal Shelter
Mar 6 2014 // A 93-year-old Hutchinson woman who died in May left a lasting legacy to her city’s animal shelter. Hutchinson city officials say they were caught off guard by the $226,000 donation from Eula Fray. KAKE-TV reports...
Adjuster, Nationwide Mutual Take Sides Over ‘On Your Side’ Slogan
Mar 6 2014 // Nationwide Mutual Insurance Co., which has used the “On Your Side” slogan in its marketing and advertising since 1966, is suing a small Tennessee public adjusting firm that goes by the name On Your Side...
Vertafore, StoneRiver Partnership Aims to Make Selling Flood Insurance Easier
Mar 5 2014 // Insurance software firm Vertafore has formed a partnership with flood insurance policy processing firm StoneRiver National Flood Services (NFS) to provide independent agents a new way to quote and cross-sell flood...
Aon Benfield Securities Completes Quake Protection for Israeli insurer I.D.I.
Mar 5 2014 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced that it has “successfully completed a ‘Cat in the Box’ transaction...
Aon Benfield’s Impact Forecasting Releases Updated European Windstorm Model
Mar 5 2014 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched its new European windstorm model. The model, which has been in development for the last three years, “offers an...
Winter Losses Pile Up But No Rating Impact on P/C Insurers Expected: Fitch
Mar 4 2014 // Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe winter weather from Jan. 1...
Apollo, CVC Seek Initial Public Offering of Insurer Brit Group
Mar 4 2014 // Brit Insurance Holdings B.V., a Lloyd’s of London insurer owned by Apollo Global Management LLC and CVC Capital Partners Ltd., is planning an initial public offering in London next month. A minimum of 25 percent of...
Insurance Units’ Profits Drive Berkshire Hathaway
Mar 3 2014 // Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the 11th year in a row with...
A.M. Best Upgrades Prime Insurance Company with an A- Rating
Mar 3 2014 // (Chicago, Illinois and Salt Lake City, Utah) March 3, 2014 – As a result of their strengthened risk-adjusted capitalization and improved operating performance, Prime Insurance Company announced today that A.M. Best...
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...
