Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Underwriting, Investment Gains Boosted P/C Insurers’ Bottom Line in First Half 2013
Oct 3 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $24.5 billion in first-half 2013 from $17.2 billion in first-half of last year. Insurers’ overall profitability as measured by their...
U.K. Regulator Scrutinizes Impact of Capital Influx on Insurers
Oct 3 2013 // British regulators are scrutinizing the impact of the wave of capital from investors such as hedge and pension funds on the insurance industry. “The availability of this additional capital inevitably affects the...
Insurer, Cargo Firm Sue FAA Over Payments for Military Crash in Afghanistan
Oct 3 2013 // National Air Cargo Group Inc. and its insurer sued the U.S. for breach of contract, saying the government failed to provide reimbursement of as much as $45 million for the crash of a Boeing 747-400 on a military mission in...
Michael Jackson Wrongful Death Case to Change Tune for Entertainment Insurance
Oct 2 2013 // When Britney Spears takes the stage this December for the first of a heavily hyped 100-show two-year residency at Planet Hollywood in Las Vegas, the loudest cheers may come from her insurance underwriters. Along with the...
Researchers Question Privacy of Usage-Based Auto Insurance
Oct 2 2013 // A study by a handful of university professors in Colorado claims user-based insurance tracking programs installed in millions of vehicles can collect data that shows where drivers are going, unbeknownst to most users of...
Monsanto to Buy Weather Data Modeler, Farm Insurer Climate Corp. for $930 Million
Oct 2 2013 // Monsanto Co., the world’s largest seed company, agreed to buy The Climate Corp. for about $930 million to provide farmers with weather data and agronomic modeling to boost yields and manage risk. Closely held Climate...
Sandy Victims Want Help With Insurers, Bureaucrats
Oct 2 2013 // The water came in torrents; the aid is being parceled out drip by drip. That was one of the main complaints voiced Monday by victims of Superstorm Sandy at a legislative hearing in Trenton, New Jersey, on the pace of the...
