Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
2013 P/C Insurers’ Results Show Net Gain on Underwriting– First Since 2007
Apr 21 2014 // U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability as measured by their rate of return on average...
Bermuda Re/Insurers Post Strong Results on Favorable Cat Loss Experience
Apr 21 2014 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2013 global underwriting results for its member (re)insurers. 18 of its 21 member (re)insurers participated in the 2013 report. The companies write...
The Rising Score of Youth Sports Head Injury Claims
Apr 21 2014 // Last year, the NFL agreed to settle a concussion lawsuit filed by former players for $914 million. As concussion-related lawsuits continue to be filed against professional sports teams, equivalent claims and litigation...
Financial Regulators Tell Congress TRIA Still Needed
Apr 20 2014 // The private insurance market is not in a position to fill the gap that would be created if Congress fails to renew the federal terrorism risk insurance program, concludes a new report to Congress by the government’s...
N.J. Roofing Co. Exec Admits to Misleading Its Workers’ Comp Carrier
Apr 17 2014 // Authorities said the president of a roofing company in New Jersey pleaded guilty to providing false and misleading information to the company’s workers’ compensation carrier in order to avoid paying hundreds of...
Updated: Federal Insurance Office Seeks Comments on Auto Insurance Affordability
Apr 17 2014 // The insurance office within the U.S. Treasury is looking into whether minorities and low and moderate income Americans have access to affordable auto insurance. On April 10, the Federal Insurance Office, citing its...
Broker/Insurer Combo Launch Food and Beverage Industry Contamination Coverage
Apr 17 2014 // Willis Group Holdings has announced the launch of a new product contamination insurance proposition, in partnership with XL Group, Willis Limited’s Food and Drink and Faber Global teams, in association with BRC...
Willis Exec Warns Mutual Insurers Face Increasing ‘Pricing Pressure’
Apr 17 2014 // According to David Thomas, CEO of Market Services & Solutions at Willis, Mutual insurers face increasing pricing pressure so must differentiate themselves to remain competitive. Speaking in a video blog on WillisWire,...
Poland’s PZU to Pay $498 Million for RSA’s Eastern European Units
Apr 17 2014 // PZU SA, central Europe’s largest insurer by market value, agreed to buy RSA Insurance Group Plc’s four units in the biggest foreign acquisition by a Polish financial company. PZU will pay a combined €360...
UPDATE: So. Korean Divers Search for Ferry Survivors; Re/Insurers Identified
Apr 17 2014 // South Korean President Park Geun Hye arrived at the site where a ferry sank yesterday, as divers battled high waves and strong winds in their search for 287 people still missing, including hundreds of students. Over 100...
Dog Attack Prompts Oregon Mail Carrier Suit
Apr 16 2014 // An Oregon postal worker seeks more than $180,000 in a lawsuit filed against the owner of a dog that allegedly attacked her. The Register-Guard newspaper reported that Kristin Joachim’s suit was filed in Lane County...
Flood Insurance Presents Opportunity, Obstacles for Private Insurers
Apr 16 2014 // Privatization of the National Flood Insurance Program (NFIP) would present a huge growth opportunity to the property/casualty market, allowing insurers to tap into about $3.3 billion of yearly premiums. But the flood...
Texas Windstorm Insurer Opens 24-Hour Claims Call Center
Apr 15 2014 // The Texas Windstorm Insurance Association, the insurer of last resort for wind and hail along the Texas coast, reported it has established a Claims Call Center that is open 24 hours, seven days a week. TWIA is encouraging...
Insurance Industry Welcomes Terrorism Bill But Not Co-Pay Hike
Apr 15 2014 // Insurance industry lobbying groups are hopeful that the bipartisan legislation introduced in the Senate on April 10 to reauthorize the Terrorism Risk Insurance Act, or TRIA, will have a better chance for passage than some...
Mississippi County, Atlantic Specialty in Claim Dispute on Burned Courthouse
Apr 13 2014 // A dispute over how much an insurance company owes Webster County for its burned courthouse has moved into federal court. The Webster County Board of Supervisors and Atlantic Specialty Insurance Co. have sued each other,...
Chile Quake, Tsunami Losses Unlikely to Affect Local Insurers’ Ratings: Fitch
Apr 11 2014 // A bulletin from Fitch Ratings indicates that, based on preliminary analysis, Chile’s insurance industry solvency “will not be affected by the recent Iquique earthquake and tsunami. Chilean property/casualty...
NAPCO Report: Prices Decreasing, Competition Increasing in P&C Space
Apr 10 2014 // Insurers have become increasingly competitive and are reducing rates for most accounts as a result of low global insured catastrophe losses and added capacity from non-traditional market sources, according to wholesale...
Texas Regulators OK Formation, Redomestication of Captive Insurers
Apr 10 2014 // The Texas Department of Insurance (TDI) announced the formation of a new captive insurer and the redomestication of two other captive entities have been approved under new rules adopted to implement Senate Bill (SB)...
Why Agencies Need to Pay More Attention to Insurer Insolvency
Apr 10 2014 // A myth is sneaking into the industry that insurer insolvency is not as important today. Belief in this myth is important to many entities. To put it more simply, a number of companies, agencies, and other firms benefit if...
Mass. Health Insurer Cuts Narcotic Prescriptions to Combat Abuse
Apr 10 2014 // The largest health insurer in Massachusetts has cut prescriptions of narcotic painkillers by an estimated 6.6 million pills in 18 months as part of a campaign to curb abuse. The decline in prescribed opiates including...
