Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
With Rate Hikes Looming, Florida Weighs Private Flood Insurance Options
Oct 11 2013 // With thousands of Florida homeowners facing significant increases in their federal flood insurance premiums, state lawmakers are considering ways to open up the market to private insurers. Industry experts, however, say...
Vermont Celebrates 1,000th Licensed Captive Insurance Company
Oct 11 2013 // Vermont Gov. Peter Shumlin and other state officials announced Thursday that the state’s Department of Financial Regulation (DFR) has licensed Vermont’s 1,000th captive insurance company.Vermont's Captive...
Regulators Map Out First Capital Blueprint for Large Insurers
Oct 10 2013 // The world’s largest insurers could be forced to raise fresh capital under rules proposed by regulators on Wednesday that echo measures imposed on the banks to avert another financial crisis. The insurance industry...
Pennsylvania Borough Insurer Pays $225K to Stunned Cuffed Man
Oct 9 2013 // A western Pennsylvania man who claimed a police officer used a stun gun on him while he was handcuffed was paid $225,000 by a borough’s insurance carrier to settle a lawsuit. The lawsuit was filed in July on behalf...
Top 10 Market Conduct Complaints by Regulators Against P/C Insurers
Oct 9 2013 // Failure to handle claims within specified time frames and using unapproved forms and rates are the top two criticisms of property/casualty insurers by market conduct regulators, according to a new report. Waltham,...
Oklahoma City-based Insurer Reenters Marketplace with New Capital Backing
Oct 8 2013 // Oklahoma City-based BancInsure, a former provider of insurance to community banks that lost surplus as a result of the recent financial crisis, announced it has reentered the insurance marketplace with a new business...
Insurers Worried About Data From Federal Health Exchange
Oct 8 2013 // Insurers are getting faulty and incomplete data from the new U.S.-run health exchange, which may mean some Americans won’t be covered even after they sign up for an insurance plan. While it’s not clear how...
Home Insurer Narragansett Bay Expands Its Coastal Capacity in Mass., R.I.
Oct 7 2013 // Pawtucket, R.I.-based home insurer Narragansett Bay Insurance Company (NBIC) said it is increasing its capacity for coastal homeowners insurance through select agency partners. The company said it is expanding its coastal...
Moody’s: China’s P/C Insurers to Benefit from Shanghai Free Trade Zone
Oct 7 2013 // The new Shanghai free trade zone should benefit property/casualty insurers, particularly those in marine/cargo and liability insurance, according to Moody’s Credit Outlook. On Sept. 29, the date that Shanghai’s...
Taiwan Insurers Have $10 Billion to Invest in Foreign Property
Oct 7 2013 // Taiwan insurers have the financial capacity to invest at least $10 billion in overseas properties after the island’s government relaxed rules in April on real estate investments abroad, according to an industry...
Insurers: Product Recalls a ‘Death Sentence’ to Food Manufacturers, Coverage Demand Still Lags
Oct 7 2013 // Food recalls are on the rise, but that isn’t necessarily because food manufacturers are not meeting safety requirements and more food is contaminated or unsafe. In fact, insurers in the product recall space who...
E&O Insights: How Well Do You Know Your Accounts?
Oct 7 2013 // Professional liability, or errors and omissions as it is also known, is a unique line of business. After all, how many other lines of business have terms like claims made, claims made and reported, retro dates, tail...
N.Y. Eyes Reform for Force-Placed Insurance
Oct 7 2013 // New York State officials last month proposed a comprehensive set of rules to reform the “force-placed” – also known as “lender-placed” or “creditor-placed” – insurance industry in...
Insurers Hope Court Decides Soon on Florida PIP Reforms
Oct 7 2013 // Florida automobile insurers are hoping a court will lift an injunction that has blocked portions of the state’s 2012 no-fault law from taking effect. Florida’s First District Court of Appeals recently heard...
Pitfalls That Can Derail Insurance Coverage Disputes
Oct 7 2013 // Insurance coverage disputes have a lot of commonalities. And lawyers who represent both sides of the table — defense and plaintiff — say participants in such disputes should be aware of certain potentially adversarial...
Hole-In-One Golf Insurer: Guilty To 3 Felonies in Washington
Oct 4 2013 // A businessman accused of insuring golf tournament hole-in-one prizes then failing to pay plead guilty in a Washington court to two counts of selling insurance without a license and one count of first-degree theft. Kevin...
N.J. Regulators Requesting Updated Sandy Claims Data From Insurers
Oct 4 2013 // The New Jersey Department of Banking and Insurance recently announced a new data call request to the insurance industry to evaluate Superstorm Sandy-related claims and monitor market conditions for property/casualty...
Insurers Respond to Risk Managers at FERMA Forum – Part 2
Oct 4 2013 // After the risk managers expressed their views on how re/insurance carriers were handling such matters as innovation, new policies and claims handling at the Federation of European Risk Management Associations’...
FERMA Offers Trialogue between Risk Managers, Carriers and Brokers – Part 1
Oct 4 2013 // The insurance industry may have given the world a new word – “trialogue,” meaning a three way conversation. Oddly enough the first person to use it at the Federation of European Risk Management...
Bill Would Take the Florida Cat Fund in the Wrong Direction
Oct 3 2013 // Florida state Sen. Jeremy Ring, D-Margate, has filed Senate Bill 228 to maintain the current statutory requirement that the state-run Florida Hurricane Catastrophe Fund, better known as the Cat Fund, sell $17 billion in...
