Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
U.S. FAA Cuts India Aviation Safety Ranking as Standards Not Met
Jan 31 2014 // The U.S. Federal Aviation Administration cut India’s safety ranking for the first time citing a failure to meet requirements, a move that could thwart local carriers’ expansion to the world’s biggest...
UK Insurers to Pay Out $701 Million from December, January Floods
Jan 31 2014 // The insured bill for the damage caused by the storms and flooding over the Christmas 2013 and New Year period looks set to cost £426 million [$701 million], according to the Association of British Insurers (ABI). The ABI...
NAMIC Frets Over Workers’ Comp Bills in Hawaii
Jan 30 2014 // There are several workers’ compensation-related bills moving through Hawaii state legislature that one trade group is watching closely. The National Association of Mutual Insurance Companies is keeping its eye on...
Optical Insurer VSP Vision Care to Cover Google Glasses
Jan 29 2014 // Google Inc.’s glasses, computerized eyewear that enables users to check e-mail or listen to music, will be covered by the largest optical insurer in the U.S., VSP Vision Care. VSP Vision, which covers 20 percent of...
Oasis Consortium of 21 Insurers, Brokers Launches Independent Cat Model
Jan 28 2014 // The Oasis Loss Modelling Framework has unveiled what it describes as “the most significant development in the modelling of natural catastrophe losses for 20 years”— the launch of an independent, global, open...
Oil Train Catastrophe Risk Weighs on Insurers: Kemp
Jan 28 2014 // In the event of a mass-casualty accident involving the derailment of a crude-carrying train in a densely populated urban area, who would be responsible for the compensation for deaths, injuries, damage to property and...
North Carolina Insurers Stand By 25.3% Home Insurance Bid
Jan 27 2014 // Despite urging by the state’s insurance commissioner that they withdraw their bid, North Carolina homeowners insurers are unlikely to withdraw their request for a 25.3 percent average rate hike. The data supports the...
Global Natural Disasters Cost Insurers $45B in 2013
Jan 27 2014 // In 2013, there were 296 separate natural disaster events that produced total economic losses of $192 billion – four percent below the 10-year average of $200 billion, but above the average 259 events, according to a...
Fastest Growing E&S Carriers in Top 30 Revealed: Fitch Report
Jan 27 2014 // In a year-end report on the U.S. excess and surplus lines market, data compiled by Fitch Ratings revealed that the top growing E&S writers in recent years were not necessarily the biggest. The report, published in...
P/C Insurance Joint Industry Forum: Insurers Say 2014 Will Not Be As Good as 2013
Jan 27 2014 // The U.S. property/casualty insurance industry reported strong performance in 2013, but in 2014, the industry may find it difficult to match last year’s results as insurers begin to face more headwinds, according to...
McKinsey Report Gets It Wrong on Independent Agents
Jan 27 2014 // For decades the experts have been betting against independent insurance agents, yet they keep winning. Why? The consultants, finance guys, and others who populate the skyscrapers on Wall Street discount the power of the...
P/C Direct Premium Written Up 4.1% Through 3Q 2013
Jan 27 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase. At year-end 2012, more than $523 billion of DPW was reported, an all time high for the industry. For 2012, total DPW for all P/C...
Deconstructing Texas Insurance Law: Ewing Confirms Court’s Shift
Jan 27 2014 // On Jan. 17, 2014, the Texas Supreme Court in Ewing Construction Company v. Amerisure Insurance Co. issued another surprising and controversial decision in a construction defect coverage case. For many years the Texas...
Wichita, Kansas Denies Insurer’s Claim from Apartment Standoff
Jan 24 2014 // The city of Wichita, Kan., has denied a claim of more than $400,000 from the insurer of an apartment complex that was damaged during a long standoff last summer. Auto-Owners Insurance Co. is seeking $411,411 for damages to...
How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer
Jan 24 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...
Report Finds Florida PIP Reforms Helping to Lower Rates
Jan 24 2014 // Florida drivers are starting to see the benefits of a 2012 re-write of the state’s no-fault automobile insurance law as insurers have reduced their personal injury protection (PIP) rates by a statewide average 13.2...
N.Y. Gov. Calls for Medical Bill Dispute Protection
Jan 23 2014 // New York hospital patients would no longer wake from surgery with the bad surprise of big bills from an anesthesiologist outside their insurance networks under legislation unveiled this week by the New York Gov. Andrew...
Reinsurance at Crossroads As New Factors Sweep Away Old Habits
Jan 23 2014 // Part I – The Market in the Developed Economies A significant number of reinsurance treaties were renewed this month, heavily concentrated in property catastrophe coverage. It’s become apparent, however, that this...
Keystone Insurers Group Names Five New ‘Pioneer’ Partners in Illinois
Jan 22 2014 // Keystone Insurers Group named five new franchise partners in Illinois, completing its list of “Pioneer Partners” — the first 10 agencies in the state to join the property/casualty insurance network....
R.I. Regulator Offers Consumer Tips on Winter Weather Claims
Jan 22 2014 // Recent winter storms have already left a path of damage and power outages across the country. When a storm strikes, it’s important to know what to do if the home is damaged or if the insured gets involved in an auto...
