Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
AIG Rebranding, Expanding Retirement Services As Others Retreat
Jan 13 2014 // American International Group Inc. plans to add 600 advisers and expand their offerings to boost sales as rivals retreat from some retirement products. The insurer will increase the number of career agents at its newly...
P/C Insurers Show Big Gain in Underwriting Profits
Jan 13 2014 // 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...
Transportation Network Companies, Uber Gap Worries Insurers
Jan 10 2014 // The tragedy of a young girl who was killed on New Year’s Eve by a motorist on contract with a cellphone app-based ridesharing service has at least one insurance group speaking up even louder to drive home a point...
Delaware Judge Weighs D&O Insurer’s Obligation in Oracle Settlement
Jan 10 2014 // Attorneys for Oracle Corp. are asking a Delaware judge to order an insurer to pay $20 million to cover attorney fees related to the proposed settlement of a shareholder lawsuit. The lawsuit challenged Oracle’s 2011...
China’s Fosun Buys 80% of Portugal’s Caixa Insurer for $1.36 Billion
Jan 10 2014 // China’s Fosun International Ltd. bought 80 percent of Portugal’s Caixa Geral de Depositos SA’s insurance unit for €1 billion ($1.36 billion), beating out U.S. buyout firm Apollo Management International...
Iowa-Based Insurance Company Sues Google over Copyrighted Photo
Jan 9 2014 // A Des Moines, Iowa, insurance company is suing Google, demanding it remove a copyrighted photo from a private blog that mocks corporate headshots. ARAG North America and Ann Dieleman, a senior vice president and chief...
Insurance M&A Trends That May Lead to ‘Perfect Storm’ in 2014
Jan 9 2014 // Encouraged by a vigorous period of insurance M&A activity in the second half of 2012, many in the industry had high expectations of robustness in 2013. It’s clear now that 2013 M&A activity did not reach the...
Top 3 Trends for P/C Insurers: Deloitte
Jan 9 2014 // Property/casualty insurers should be thinking about transforming how they do business and how they can better deploy technology if they want to pursue long-term growth, according to the Deloitte Center for Financial...
North Carolina Rate Bureau Stands By 25.3% Home Insurance Bid
Jan 7 2014 // Despite urging by the state’s insurance commissioner that they withdraw their bid, North Carolina homeowners insurers are unlikely to withdraw their request for a 25.3 percent average rate hike. The data supports the...
North Carolina Regulator ‘Appalled’ at Home Insurers’ Request for 25% Rate Hike
Jan 5 2014 // North Carolina Insurance Commissioner Wayne Goodwin has called upon insurers in his state to withdraw a request for a 25.3 percent rate hike for homeowners insurance, saying he is “appalled” they would seek a...
North Carolina Licenses Four Captives
Jan 3 2014 // North Carolina Insurance Commissioner Wayne Goodwin said his agency has issued four captive insurance company licenses since the state’s Captive Insurance Act went into effect in late October 2013. The new North...
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...
