Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Survey: Most Insurers Expect to Increase Revenues, Add Jobs in Next 12 Months
Aug 16 2013 // A new survey from insurance recruiting firm The Jacobson Group and consulting firm Ward Group shows the majority of property/casualty insurers are expecting to hire more staff over the next 12 months. The mid-year...
Insurers Seek 1% Increase in Florida Workers’ Comp Rates
Aug 16 2013 // Florida’s employers can look forward to little, if any, change in their 2014 workers’ compensation rates as the state’s industry-backed rating agency has filed for a modest statewide average 1 percent...
Insurers Sue for Losses from Indiana State Fair Stage Collapse
Aug 15 2013 // Two years after the deadly Indiana State Fair stage collapse, new legal disputes are cropping up and victims are still working to recover. Fireman’s Fund Insurance Co. and subsidiary AGCS Marine, which insured...
Insurers, Government Grapple with Costs of Growth in Wildland-Urban Interface
Aug 15 2013 // The summer of 2013 has been another severe fire season for the United States, a trend that has insurance companies bracing for a new normal: higher rates of property damage as Americans move to wildfire-prone areas in ever...
North Carolina Bureau, Insurers to Pay 2 Innocent Men $12M
Aug 14 2013 // The State Bureau of Investigation said that the agency and its insurers have agreed to pay more than $12 million to two men who spent a combined 31 years behind bars for crimes it was later found that they didn’t...
Loeb’s Third Point Re Set for IPO as Einhorn’s Truck Bet Shows Insurers’ Risk
Aug 14 2013 // Investors in Third Point Reinsurance Ltd.’s initial public offering are betting on billionaire hedge fund manager Daniel Loeb. They’re also taking on risk from an unprofitable underwriting operation. The sale...
Penalized Insurer Required by South Dakota to Show Fixes
Aug 13 2013 // A long-term care insurance company fined $325,000 by the state of South Dakota is being required to submit a timeline for fixing problems identified during an investigation. The state Division of Insurance examination of...
Best Places Tower Group Subs Ratings on Review/Negative
Aug 13 2013 // A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the pooled and reinsured members...
FSB Examines ‘Too Big to Fail’ Insurers; CIRC Expands Insurers’ Investments
Aug 13 2013 // The Financial Stability Board said an extended version of its guidance on the resolution of systemically important banks will apply to non-bank financial institutions, such as Allianz SE and other large insurers. The...
Florida Regulator McCarty Answers CFO Over Reinsurance Costs
Aug 12 2013 // Florida’s insurance regulator, in response to questions why lower reinsurance costs have not translated into reduced homeowners rates, said insurers have significant leeway in how they incorporate those costs into...
Wisconsin Supreme Court Narrows Definition of ‘Occurrence’
Aug 12 2013 // Public policy and insurance law allow insurance coverage only for fortuitous events and not for harm or loss resulting from intentional acts. To this end, insurance policies provide coverage when an injury or loss is...
Ruling Allows Hawaii Dam Break Lawsuits Against Insurers To Advance
Aug 12 2013 // A state appeals court ruling has cleared the way for stalled lawsuits involving a deadly 2006 Kauai dam breach to move forward. The state Intermediate Court of Appeals sent the case back to circuit court, vacating the...
N.Y. Building Co-Owner Gets Prison in Arson, Ordered to Pay Restitution to Insurer
Aug 12 2013 // A federal judge has sentenced a 55-year-old central New York man to more than 18 years in prison for his role in the arson of a factory building he co-owned and the subsequent $4.2 million insurance claim. U.S. District...
Insurers Continue to Improve Their Home Valuations, Says MSB
Aug 12 2013 // The insurance industry is doing a better job adequately valuing residential construction, according to Marshall & Swift/Boeckh (MSB), a provider of building cost information. MSB’s 2013 Insurance to Value (ITV)...
Commentary: Notifying Excess Insurers for Additional Insureds
Aug 9 2013 // An interesting case was recently decided by the Georgia Court of Appeals. In Garner and Glover Co. v. Barrett, 738 S.E.2d 721 (Ga. App. 2013), the issue was the duty of an insurance producer to notify an excess insurer...
Florida CFO: Why Aren’t Florida Property Rates Falling Along with Reinsurance?
Aug 9 2013 // Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial...
Missouri Settles with Major Health Insurer over Claim Denials
Aug 9 2013 // Missouri insurance regulators announced a million-dollar settlement with a major health insurer over alleged violations that include denying childhood immunization and cancer screening claims. The Missouri Department of...
Report Released on Insurer Procurement Diversity in California
Aug 7 2013 // A survey of supplier diversity in the insurance industry for California’s largest 206 insurance companies was issued on Wednesday. The results, which are posted on the California Department of Insurance website,...
New York City Prep School Sues AIG Insurers Over Denial of Abuse Coverage
Aug 7 2013 // New York City prep school Horace Mann sued units of American International Group Inc. saying they refused to defend and indemnify the school for damages stemming from sex-abuse claims by former students against...
Washington Nationals Sue Crime Insurer Over Player’s Lie About Age
Aug 7 2013 // Major League Baseball’s Washington Nationals sued an insurance company for $1 million for declining to provide crime insurance coverage for an alleged fraud scheme involving a team executive linked to the signing of...
