Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Groups Object to Florida’s Citizens Insuring Out-of-State Policyholders
Sep 18 2013 // A coalition of Florida business and consumer groups is objecting to the state-backed property insurer providing coverage for 180,000 individuals who reside outside of the state and, in some cases, the country. The Stronger...
Private Market Will Dry Up If Federal Terrorism Insurance Not Renewed: Aon
Sep 18 2013 // Research by Aon shows that more than 85 percent of insurers will no longer insure terror risk if the federal backstop goes away. The brokerage firm revealed the conclusion based on its “market intelligence” in...
UK MGA’s Welcome Increased Insurer Support for Capacity Exchange
Sep 18 2013 // “A nearly 40 percent increase in the number of insurers, market participants and suppliers attending this year’s Managing General Agents’ Association (MGAA) capacity exchange, demonstrates the increasing...
S&P Report Says Global Multiline Insurers in Good Shape
Sep 17 2013 // A report from Standard & Poor’s Ratings Services says that overall, “it considers global multiline insurers (GMIs) to still display better credit quality than other insurance groups or...
Zurich Ad Campaign Seeks to Restore Insurer to Normality
Sep 16 2013 // By rolling out television, print and billboard marketing campaigns on Monday, Zurich Insurance is aiming to advertise business as usual after a suicide and resignation in the Swiss-based insurer’s top ranks. But...
Insurers Expect Increase in Personal Lines, Workers’ Compensation Fraud
Sep 13 2013 // One in three U.S. and Canadian insurers does not feel adequately protected against fraud and more than half expect personal lines and workers’ compensation fraud to increase this year. The survey by FICO, a...
Start-Up Health Insurance Co-Ops Vow to Compete with Commercial Insurers
Sep 13 2013 // They have rented offices and zero customers. All their capital is borrowed. They’re trying to sign the kind of expensive, chronically ill individuals that insurers have avoided for decades. In three weeks they face...
AIG, Lincoln Among Insurers Said Pushed by N.Y. on Universal Life Product Reserves
Sep 12 2013 // New York State’s financial-services regulator is pressing insurers including American International Group Inc., Lincoln National Corp. and Principal Financial Group Inc. to boost reserves at units in the state, a...
Mississippi Shipbuilder, Insurer Settle on $180M for Katrina Damages
Sep 12 2013 // Huntington Ingalls Industries and its insurer have reached cash settlement for $180 million for the shipbuilder’s losses from Hurricane Katrina in 2005 at facilities in Pascagoula and Avondale, La. The Mississippi...
Wisconsin Court: No Damages in Officer Death from Insurance Company
Sep 12 2013 // A Wisconsin appeals court says a slain police officer’s widow can’t collect damages from the insurance company that covered his killer. James Cruckson shot Fond du Lac Police Officer Craig Birkholz during a...
Mass. Diocese Agrees to $60M Settlement With Insurer Over 2011 Tornado Damages
Sep 12 2013 // The Roman Catholic Diocese of Springfield has agreed to a $60 million settlement with its insurer for damage done to a parochial high school and other church property by a tornado two years ago. The resolution with insurer...
Sen. Warren Renews Call to Restore Glass-Steagall Walls Between Banks, Insurers
Sep 12 2013 // U.S. Senator Elizabeth Warren said banks remain too big to fail even amid the progress that has been made on financial regulation since the 2008 credit crisis. “If Dodd-Frank gives the regulators the tools to end too...
London Police Must Repay Insurers for Riot-Damaged Sony Warehouse
Sep 12 2013 // London police must repay the insurers of a warehouse that held Sony Corp. goods, damaged in riots that spread through the city in the summer of 2011, a judge ruled. Judge Julian Flaux said the attack on a building in north...
Commentary: ‘Prevention Is Better Than Cure’ in Property Insurance Disputes
Sep 11 2013 // Although the notion of a binding agreement between two parties dates back to ancient times, the doctrine of contracts has evolved through the years to meet the needs of modern times. In 1911, Judge Learned Hand defined...
World Bank Insurer’s Record Year Led by Power Projects Coverage
Sep 11 2013 // Political risk insurance provided by a World Bank Group agency in developing nations rose for a third straight year to a record, led by guarantees on power projects from Angola to Bangladesh. The Multilateral Investment...
Critics Say Taxpayers’ $14B Guarantees Profit for Crop Insurers
Sep 11 2013 // Former American International Group Inc. chief Maurice “Hank” Greenberg has a new business partner: the U.S. taxpayer. Greenberg’s Starr Indemnity & Liability Co. is one of 18 companies approved to...
Burand’s Agency E&O Blog: Tip #45
Sep 11 2013 // Loss Control Results Usually Require Disclosure. An agency that uses non-carrier loss control services, regardless of whether it is a third-party firm or an agency’s in-house loss control service, almost always has...
U.K. Crime Agency Won’t Name Insurers Using Illegal Sources
Sep 11 2013 // The U.K.’s Serious Organised Crime Agency refused to reveal the names of law firms and insurance companies that may have hired convicted private investigators who illegally gained information. SOCA declined to...
Workers’ Comp Premiums Jump 8.1% in First Half of 2013
Sep 9 2013 // Demotech’s review of second quarter 2013 data, as recently reported by insurers to the National Association of Insurance Commissioners (NAIC), shows three straight years of growth in workers’ compensation...
California Supreme Court Expands Unfair Competition Law to Insurers
Sep 9 2013 // The California Supreme Court issued its long-awaited decision in Zhang v. Superior Court, a case examining the scope of the California Unfair Competition Law (UCL, California Business and Professions Code §§ 17200 et...
