Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
The Future is Now for Usage-Based Auto Insurance
Oct 21 2013 // Technology is spurring innovation and altering risk scenarios throughout the economy including in auto insurance. While advanced auto safety features, the shared economy and driverless cars promise to reshape auto...
Product Recall Capacity Needed for Life Sciences Segment
Oct 21 2013 // The life sciences industry has seen a dramatic increase in product recalls, and while insurance capacity for the life sciences industry generally has been increasing, insurers have been wary about offering more product...
Insurer Auditor, Others Sentenced for Workers’ Comp Fraud
Oct 21 2013 // A former workers’ compensation auditor in West Virginia has been sentenced to six years in federal prison for taking bribes in exchange for allowing coal company contractors to underreport their payroll. Prosecutors...
Is Private Market an Option for Florida Flood Insurance?
Oct 21 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...
Prudential Drops Its Fight Against Systemic Risk Designation
Oct 20 2013 // Prudential Financial Inc., the second-largest U.S. life insurer, abandoned its challenge to a U.S. designation from a Treasury Department panel that subjects the company to increased regulatory oversight. The insurer opted...
Allianz CEO Says New Regulation to Create Room for Acquisitions
Oct 17 2013 // Allianz SE’s CEO Michael Diekmann said tougher financial regulation will create takeover opportunities for Europe’s biggest insurer. “If Solvency II and Basel III mean more capital, then it’s hard...
Connecticut Announces Its 3rd Licensed Captive Insurance Company
Oct 16 2013 // Connecticut Gov. Dannel P. Malloy announced last week that the corporate owner of one of the largest grocery store chains in New York City is setting up its captive insurance subsidiary in Connecticut. The Red Apple Group,...
Study: Michigan Auto Costs Can Drop if Lifetime Care Stays
Oct 16 2013 // Michigan can lower auto insurance premiums without making major changes to the state’s no-fault system proposed in legislation that has stalled for months, according to a nonpartisan report issued Oct. 14. The...
A.M. Best, Fitch Explain Recent Downgrades of Tower Group
Oct 16 2013 // Rating agencies have downgraded Tower Group following the insurer’s announcement of loss reserve and goodwill charges in excess of what was expected. Tower has said that the company’s board of directors is...
TVA’s Insurer Ordered to Pay $42 Million Toward Ash Spill Cleanup
Oct 16 2013 // About $42 million has been recovered in the last week by the Tennessee Valley Authority to help pay for more than $1 billion in expenses stemming from the cleanup at the 2008 ash spill at the Kingston Fossil Plant. The...
Top Excess & Surplus Insurers by Market Share: SNL
Oct 15 2013 // Source: SNL Financial
IAIS Plan for Re/Insurers’ Systemic Risks ‘Debatable’ Says UK Expert
Oct 15 2013 // “The IAIS, with its proposal for additional risk-adjusted capital rules for major re/insurers, seems to be joining the regulatory bandwagon for seeing these as a potential source of threat to the global financial...
Best Report: European Insurers See Improvements; Challenges Remain
Oct 15 2013 // European non-life and life insurers “are benefitting from a more stable economic environment, although they continue to adjust product offerings and adapt reinsurance purchasing in response to the low-yield...
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...
