Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Identity of Secret ‘Company Doe’ in Product Liability Case Revealed
May 12 2014 // Company Doe is a secret no more. Ergobaby, a company that makes and sells baby carriers, acknowledged last Thursday it is the firm known as “Company Doe” in a lawsuit against the Consumer Product Safety...
Foreign Insurers’ Role in U.S. Tax Evasion Under Scrutiny
May 12 2014 // A Swiss asset management firm, Swisspartners Group, agreed to pay $4.4 million to the United States to settle a probe into whether it helped U.S. taxpayers evade their federal income taxes, the U.S. Department of Justice...
Best Downgrades Tower Group International and Subs Ratings
May 12 2014 // A.M. Best has downgraded the financial strength ratings (FSR) to ‘C++’ (Marginal) from ‘B’ (Fair) and issuer credit ratings (ICR) to “b” from “bb” of the pooled and reinsured...
CME, SIX to Provide Collateral Management Services to Swiss Insurers
May 12 2014 // CME Group Inc.’s European clearinghouse and SIX Group’s central-securities depository have agreed to offer an integrated collateral-management service to insurance companies operating in Switzerland. Once the...
Trusted Choice Consumer Portal Funding Now Tops $50M
May 9 2014 // Project CAP, the organization formed to help local independent agents compete in the digital economy under the Trusted Choice brand, has raised $10 million from two additional carrier investors. The capital from the two...
Bill Allowing Insurers to Drop Drivers Axed by Arizona’s Brewer
May 7 2014 // Arizona Gov. Jan Brewer has vetoed a bill that would have allowed insurance companies to drop drivers from their coverage if their car was driven mostly out of the state. The bill would have affected college students and...
‘Inhance’ Launched to Plug Re/Insurers’ Cat Loss Information Gaps
May 7 2014 // Lloyd’s Old Library was the setting yesterday for the launch of inhance, a new product designed to close gaps in existing models that continue to expose re/insurers – and companies – to unexpected catastrophe...
Insurer Allianz Faces Shareholder Grilling over Pimco
May 7 2014 // Top Allianz executives face a grilling on Wednesday from shareholders worried about a wobbly performance at its U.S-based Pimco fund management business. Europe’s biggest insurer has made a strong comeback from the...
Commercial Auto Insurers Still Struggle to Profit: Fitch
May 6 2014 // Commercial automobile insurers reported a third consecutive year of underwriting losses in 2013. According to an analysis by Fitch Ratings, the combined ratio came in at 106 for 2013 compared with 107 for 2012. In a...
Global Insurers Plan to Increase Risk in Portfolios: Goldman Sachs Survey
May 6 2014 // Global insurance firms are embracing risk in their portfolios this year, as they plan to increase allocations to alternative investments such as private equity and infrastructure debt, according to the third annual survey...
Best Reports Competition, Top-Line Growth Affected Saudi Insurers in 2013
May 6 2014 // A report from A.M. Best notes that “Saudi Arabia’s insurance market remains one of the main markets within the Gulf Cooperation Council (GCC), with premiums expected to surpass the United Arab Emirates over the...
Armstrong Appeals to Texas Supreme Court to Halt Insurer Lawsuit
May 5 2014 // Lance Armstrong has asked the Texas Supreme Court to stop a Dallas company from trying to force him to pay back about $12 million in bonuses it paid him for winning the Tour de France. SCA Promotions sued Armstrong last...
Agents’ Dream Come True? Single Password for Multiple Carriers Launched
May 5 2014 // The insurance industry is moving to end the clutter of “sticky notes” with passwords on monitors everywhere with a tool that reduces the need for agencies to keep multiple passwords. A non-profit industry...
Workers’ Compensation Fraud: The Insurance Producer’s Role
May 5 2014 // There are essentially two types of workers’ compensation fraud – premium fraud and claimant fraud – and insurance producers can play a role in the discovery and resolution of both, according to one investigator...
Monster Involved in Insurer-Funded Settlement in California
May 5 2014 // Corona, Calif.-based Monster Beverage Corp. has agreed to settle an ongoing securities class action lawsuit against the company and two of its officers in federal district court in Los Angeles. The settlement, reportedly...
Unhappy Auto Customers
May 5 2014 // Customers who switch auto insurance carriers due to poor service often end up sorry they did because they end up paying more. While a poor experience with their insurer is the leading reason customers shop for, and...
E&O Insights: Don’t Let Insuring Restaurants and Taverns Give You Heartburn
May 5 2014 // Virtually every town in the United States has a restaurant or tavern, so your pursuit of these risks is fairly likely. Unfortunately, at times these types of risks are not the easiest to place. Before you take that first...
10 Challenges Ahead for Workers’ Compensation
May 5 2014 // Today’s challenges are also tomorrow’s opportunities depending on the viewpoint. Those same opportunities could also remain tomorrow’s challenges. This special report highlights 10 current workers’...
Florida Revises Insurer Solvency Review Process
May 4 2014 // The Florida legislature has approved legislation setting out new insurer solvency requirements while also requiring individuals to disclose information about any affiliated company. Sponsored by Senator David Simmons...
Insurance Agents Urged to Follow Overstock.com, Insuritas Online Sales Model
May 2 2014 // Customers of Overstock.com can now furnish their home or office and insure them through the same source. The online retailer this week began selling small business, auto and home insurance along with furniture, rugs,...
