Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Former Insurance Company CEO Wants to Withdraw Guilty Plea
Dec 15 2013 // A former insurance company chief executive wants to withdraw his guilty plea to bribing El Paso, Texas-area public officials, a plea that brought him an eight-year prison sentence. Prosecutors say Francisco Apodaca made...
Wisconsin Workers’ Comp Insurers Propose to Rein in Costs
Dec 13 2013 // States once again show the way to management and reform of public systems by having affected interests sit down together to work out a plan. In Wisconsin, the nation’s oldest workers’ compensation program...
Best Downgrades Issuer Credit Ratings of QBE’s U.S. Subsidiaries; Affirms FSR
Dec 13 2013 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of the pooled and reinsured members of...
QBE Bond Risk Surges as U.S. Expansion Sours: Australia Credit Risk
Dec 13 2013 // Bond risk on QBE Insurance Group Ltd. halved in the first 11 months of the year before surging this month as the company said it would lose money. Credit-default swaps on QBE have climbed 41 basis points since Nov. 30 to...
Federal Insurance Office Releases Long-Awaited Modernization Report
Dec 12 2013 // After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United...
Florida Insurer to Offer Electric Bicycle Coverage
Dec 12 2013 // A Florida insurance agency has launched a new stand-alone insurance policy designed to cover electric-assisted bicycles. The Fort Lauderdale-based Velosurance Insurance Agency is offering the policy that will cover...
Keefe, Bruyette & Woods Forecasts ‘Soft Insurance Rate Landing’
Dec 12 2013 // U.S. property/casualty insurers’ and brokers’ operating earnings are expected to modestly improve in 2014, and the overall insurance rate increases will “probably moderate into 2015,” said...
Keystone Insurers Group Adds Konen Insurance and Dasco Insurance in Illinois
Dec 12 2013 // Konen Insurance of Aurora, Ill., and Dasco Insurance Agency of Northbrook are now partners in Keystone Insurers Group. The addition of the two agencies increases to four the number of Keystone partners in the state since...
Excess Insurance and Equitable Subrogation: Oklahoma Clarifies Equitable Subrogation Rule
Dec 12 2013 // Most jurisdictions have held that an insurance company with the primary policy owes a duty of good faith and fair dealing to the insurance company with the excess policy requiring a settlement of claims within the primary...
Low Interest Rates Biggest Risk for Europe Insurers, Eiopa Says
Dec 12 2013 // Low interest rates are the biggest risk for European insurers and pension funds, weighing on sales of retirement products, the region’s top industry supervisor said. Interest rates are “putting pressure mostly...
Florida Agents Near Deadline to Accept Citizens’ Appointment
Dec 11 2013 // Florida insurance agencies and agents have just a few days left to decide whether or not to agree to the state-backed property insurer’s new appointment guidelines. Citizens Property Insurance Corp. revamped its...
Florida’s Citizens Delays Launch of Clearinghouse
Dec 11 2013 // Florida’s state-backed property insurer officials announced they are delaying the launch of a new web-based clearinghouse in order to ensure it is working efficiently and to allow more private insurers to...
Mass. AG Coakley Urges Greater Transparency for Auto Insurance Surcharges
Dec 10 2013 // In an effort to implement greater protections and transparency for drivers who face auto insurance surcharges, Massachusetts Attorney General Martha Coakley is urging the state legislature to implement changes to the law...
Frustrated Insurance Brokers Say They Can Help Obamacare If Allowed
Dec 10 2013 // When insurance agent Kelly Fristoe recently spent 30 minutes helping a client pick a mid-level health plan and the federal marketplace website froze, he called the government’s hotline and tried to finish the...
Title Insurer Fidelity National Weighs Selling Assets
Dec 10 2013 // Fidelity National Financial Inc., the title insurer that also has restaurant businesses and an auto parts company, hired JPMorgan Chase & Co. to review possible divestitures of assets. The insurer will consider...
Iowa Insurer Pokes Fun at Federal Website in Ads
Dec 9 2013 // The television ads produced by a Midwest insurance company show a series of medical mishaps: a man kicking the wrong leg in a reflex check, a urine sample bottle that won’t open for a frustrated patient and a blood...
