Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Administrative Changes Proposed for Texas Workers’ Compensation System
Feb 24 2014 // Adoption of NCCI Manual Would Be Effective June 1 Texas Insurance Commissioner, Julia RathgeberTexas will be privatizing many functions in its workers’ compensation system if a proposal to adopt the National Council...
Mass. Proposes Tax for Insurer-Owned Pass-Through Entities
Feb 24 2014 // As part of his administration’s plan for new tax revenues, Massachusetts Gov. Deval Patrick recently proposed applying a corporate tax rate to the state’s “pass-through entities” that are owned by...
Mass. AG Opposes 7.7% Workers’ Comp Rate Hike
Feb 24 2014 // At a recent public hearing, Massachusetts Attorney General Martha Coakley’s office expressed its opposition to the workers’ compensation average rate increase proposal and argued that the rate should be lowered...
Industry Groups Welcome N.Y. High Court’s Reversal of K2 Decision
Feb 20 2014 // Insurance trade groups this week welcomed the New York Court of Appeals’ reversal of its June 11, 2013, decision on K2 Investment Group, LLC v. American Guarantee & Liability Insurance Co., a case that has been...
Texas Likely to Become an ‘NCCI State’ for Workers’ Comp; Question Is – When?
Feb 20 2014 // Texas will be privatizing many functions in its workers’ compensation system if a staff petition to adopt the National Council on Compensation Insurance (NCCI) Basic Manual, with Texas exceptions, and the national...
‘Bonus’ Year of 2013 Has Insurers Figuring How to Incent for Future Growth
Feb 19 2014 // With property/casualty insurance and life and annuity companies having a great year in 2013, bonus funds were up above targeted amounts for 80 percent of them, Towers Watson reported. In an item posted on Towers...
FSOC’s Insurance Expert Woodall Approved As International Regulatory Observer
Feb 18 2014 // Roy Woodall, the insurance sector voting member of the Financial Stability Oversight Council, will finally be getting involved in the International Association of Insurance Supervisors (IAIS) but as an observer, not a...
AIA Testifies on Challenges to U.S. Insurers in India
Feb 18 2014 // Stephen Simchak, director of international affairs for the American Insurance Association (AIA), testified about trade and investment barriers that U.S. property-casualty insurers face in India at a public hearing before...
Small Business Online Insurer AssureStart Now Writing in Maryland, Pennsylvania
Feb 14 2014 // AssureStart, a Seattle-based start-up direct company that sells small business insurance on the Internet, has opened for business in Maryland and Pennsylvania. Owned primarily by American Family Insurance, AssureStart...
Study Looks at Options to Depopulate Texas Coastal Wind Insurer
Feb 13 2014 // Loss exposure for Texas’ wind and hail insurer of last resort along the coast increased by around 319 percent between 2005 and 2012 – from $23.26 billion to $74.17 billion, and its policy count grew by...
Qatar Insurance Company Enters Lloyd’s Market with Antares Acquisition
Feb 13 2014 // Qatar Insurance Company SAQ (QIC) announced that it has reached agreement to acquire the entire share capital of Antares Holdings Limited, together with its subsidiaries, a specialist insurer and reinsurer operating in the...
OECD Says Tax Evasion Plan Needs to Include Brokers’, Insurers’ Accounts
Feb 13 2014 // Accounts at brokers and insurers need to be included along with banks in a plan designed to share data among governments to crack down on tax evasion, the Organization for Economic Cooperation and Development said. The 42...
Ventura: ‘American Sniper’ Lawsuit Aimed at Insurer, not Widow
Feb 12 2014 // Former Minnesota Gov. Jesse Ventura contends he isn’t going after the widow of slain “American Sniper” author Chris Kyle by continuing his defamation lawsuit, but rather the publisher’s insurance...
Mass. AG Office Says 7.7% Workers’ Comp Rate Hike Unnecessary
Feb 11 2014 // At a recent public hearing, Massachusetts Attorney General Martha Coakley’s office expressed its opposition to the workers’ compensation average rate increase proposal and argued that the rate should be lowered...
N.Y. Health Insurer to Give Thousands of Customers 3 Weeks Free Coverage
Feb 11 2014 // Thousands of New York consumers who faced enrollment problems will get three weeks of free coverage from Empire Blue Cross Blue Shield. New York Gov. Andrew Cuomo says the agreement follows a Department of Financial...
U.K. Towns Face More Floods as Insurer Losses Estimated at $1.6 Billion
Feb 11 2014 // Waterlogged towns on the River Thames west of London braced for more floods as rains persisted across southern England and Deloitte LLP said the storms may cost insurers £1 billion ($1.6 billion) by April. The Environment...
Damages Allowed Over Insurer’s Refusal to Defend West Virginia Man
Feb 10 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...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 10 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...
Disclosing Broker Fees to Ensure Full Compliance
Feb 10 2014 // An area of intensive scrutiny by the California Department of Insurance surrounds the charging and disclosing of broker fees. The department regularly receives a high volume of customer complaints concerning the failure to...
How to Encourage Private Sector Flood Insurance
Feb 10 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
