Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Keystone Insurers Group Adds Brennan & Stuart Inc. as Partner in Illinois
Jan 2 2014 // Brennan & Stuart Inc. of La Salle, Ill., is Keystone Insurers Group’s newest franchise partner in Illinois. Harold Brennan started Brennan & Stuart Inc. (BSI) as a family business in 1956. CEO Jerry Stuart...
Circle These Dates: Health Law’s Key Tests in 2014
Dec 31 2013 // The new year brings the big test of President Barack Obama’s beleaguered health care law: Will it work? The heart of the law springs to life Wednesday, after nearly four years of political turmoil and three months of...
2013 in Review: Most Popular Insurance Stories From East
Dec 30 2013 // As 2013 winds down, Insurance Journal takes a look back at the most popular news headlines of the year. In the East region, Superstorm Sandy’s aftermath and the challenges of recovering and rebuilding were a major...
Insurer Sued in New York for Canceling, Reissuing Flood Policies After Claim
Dec 27 2013 // Fidelity National Property & Casualty Insurance Co. was recently sued in a New York court over flood insurance policies. The suit alleges the insurer retroactively canceled flood policies for Dayton Towers...
P/C Insurers Boost Bottom Line on Big Gain in Underwriting Through 9 Months
Dec 23 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months 2012, with insurers’ overall profitability as measured by their...
TVA to Get $150M More for Coal Ash Spill Cleanup from Insurer
Dec 23 2013 // The Tennessee Valley Authority said it will receive another $150 million from an insurance company to help pay for the ongoing cleanup of the 2008 coal ash spill in Kingston, Tenn. ACE Bermuda Insurance Ltd. will pay TVA...
Best Downgrades Tower Group and Subs Ratings; Under Review/Negative
Dec 23 2013 // Last Friday, A.M. Best Co. downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower U.S. Pool. A.M. Best said the downgrade and other related actions take...
New Jersey Chiropractor Sentenced in $89K Insurance Fraud
Dec 22 2013 // A northern New Jersey chiropractor was sentenced to state prison for causing false documentation to be submitted to insurance companies and subsequently receiving over $89,000 to which he was not entitled. Joseph Salomone,...
Insurance Questions, Lawsuits Arise in Wake of Target’s Data Breach
Dec 22 2013 // U.S. retail giant Target Corp. is busy dealing with the aftermath of the massive data breach that exposed account details of some 40 million credit and debit cards. Already, at least two lawsuits seeking class-action...
‘Three Cups’ Insurer Lawsuit In Montana Dismissed
Dec 20 2013 // A judge has dismissed a lawsuit by the charity co-founded by “Three Cups of Tea” author Greg Mortenson against an insurance company. U.S. District Judge Dana Christensen dismissed the lawsuit Thursday, more...
Obama Exempts Canceled Policyholders from Individual Mandate
Dec 20 2013 // Americans whose health plans are being canceled because their coverage doesn’t meet Obamacare rules will be exempt from the mandate that they carry insurance, under a change announced by the Obama...
Best Affirms CNA Financial and Subs’ Ratings; Outlook Stable
Dec 20 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of CNA Financial Corporation (CNAF),...
Florida Lawmakers Unveil Plan to Encourage Private Market for Flood Insurance
Dec 19 2013 // With the chances of a federal solution to rising flood insurance rates waning by the day, Florida lawmakers are pressing forward with a bill to create a private market solution to the problem. Florida State Senator Jeff...
Agents Say Getting More Carriers to Offer ‘Real Time’ Is Among Top Tech Priorities
Dec 19 2013 // The industry should place its highest priority on “getting additional carriers to offer real-time capabilities,” according to a survey of insurance agency and brokerage professionals in the United States and...
As Bond Insurers Drop Objections, Detroit Bankruptcy Progresses
Dec 18 2013 // Detroit’s path through bankruptcy began to take shape on Dec. 17, with a second bond insurance firm ready to drop its objections to a controversial city financing plan, joining another bond insurer, bondholders and a...
Death Spiral Unlikely for Obamacare: Study
Dec 18 2013 // A threat to America’s health insurance overhaul has been that young people would not buy coverage in new marketplaces, possibly pushing the program into a disastrous spiral of falling enrollment and rising...
Sompo Japan to Buy UK Insurer Canopius in Overseas Expansion Drive
Dec 18 2013 // Sompo Japan Insurance Inc., a unit of Japan’s third-largest casualty insurer group by market value, confirmed earlier reports that it will buy Canopius Group Ltd. of the U.K. for 99.2 billion yen ($963 million) as it...
Universal, Fireman’s Fund Seek ‘Fast and Furious’ Solution
Dec 17 2013 // When “Fast And Furious” star Paul Walker died and left the seventh film in the franchise hanging in the balance, it wasn’t the first time a studio and its insurer faced such a situation, but the point at...
Court: Insurance Company Exempt in Wisconsin Shooting Death
Dec 17 2013 // A Sheboygan insurance company is exempt from having to pay after a man accidentally killed his friend in Oconto County three years ago, a Wisconsin appeals court has ruled. The 3rd District Court of Appeals decided that...
GEICO Passes Allstate to Become 2d Largest U.S. Auto Insurer: SNL
Dec 16 2013 // Based on third quarter reports, GEICO Corp. has surpassed Allstate Corp. to become the nation’s second-largest private auto insurer. According to data compiled by SNL, GEICO logged $4.89 billion in direct premiums...
