Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Kentucky’s Harbor Insurance Joins Keystone Insurers Group
Aug 6 2013 // Harbor Insurance Agency has become Keystone Insurers Group’s newest franchise partner in Kentucky. The announcement was made jointly by Harbor President Tim Murphy and Keystone’s Kentucky Vice President Nancy...
North Dakota Man Suing Insurance Company Over Potato Case
Aug 5 2013 // A prominent North Dakota potato farmer, businessman and philanthropist who’s among a group of people accused in an alleged price-fixing scheme is suing his insurance company for failing to cover his defense...
Commentary: Does FSOC Understand the Business of Insurance?
Aug 5 2013 // The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that “material financial distress at AIG could pose a threat to U.S....
Insurers Help Drive European Share Prices to New 2-month high
Aug 5 2013 // Robust insurer earnings helped drive European shares to a two-month high on Friday, while mixed U.S. jobs data supported the view the Federal Reserve may be more cautious about cutting back on its economic stimulus. The...
Insurer Loss Ratios High in Oklahoma after Years of Extreme Storms
Aug 5 2013 // The May storms in Oklahoma that produced two EF-5 tornadoes, destroyed thousands of houses, resulted in 46 deaths and sent damage estimates above the $5 billion mark, were extreme examples of a years-long pattern of storms...
Zurich Among Insurers Said to Be Probed in Expanded N.Y. Inquiry
Aug 5 2013 // Zurich Insurance Group AG is among companies being questioned by New York’s insurance regulator in a widening probe into compliance with an Iran sanctions law, according to a person familiar with the matter. The New...
Conn. Insurers Required to Participate in Climate Risk Surveys
Aug 5 2013 // Connecticut Insurance Commissioner Thomas Leonardi announced on July 17 that Conn.-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary...
Auto Insurance Fraud: Is There a Solution?
Aug 5 2013 // Industry estimates put personal auto insurance fraud at about 10 percent of paid losses and loss adjustment expenses a year. That equates to roughly $13.3 billion in 2011 alone. And the overall trends don’t appear...
Florida Supreme Court Rules Replacement Cost Includes Contractor’s Profit
Aug 5 2013 // Florida’s high court has ruled that insurers under a 2008 law must pay a contractor’s overhead and profit as part of the expense of repairing a homeowner’s property despite repairs not having been...
Washington Supreme Court: Insurers Liable for Illegal Acts by Agents
Aug 2 2013 // Washington’s State Supreme Court has affirmed that insurers are liable for illegal actions committed by their agents, a decision that will enable the state’s insurance commissioner to continue to go after bad...
Transportation Insurer National Interstate Posts Surprise Loss
Jul 31 2013 // National Interstate Corp., the insurer majority owned by American Financial Group Inc., plunged the most since 2008 after reserves for claims in prior periods proved inadequate, fueling a surprise quarterly loss. National...
Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report
Jul 30 2013 // At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal...
AIG to Close Down Savings Bank Unit Due to Dodd-Frank Limits
Jul 30 2013 // American International Group Inc. will return funds to customers of its banking unit and shut their accounts as the Dodd-Frank Act places limits on insurers with deposit-taking units. AIG Federal Savings Bank “will...
Tokio Marine Targets Asean for Expansion Abroad: Southeast Asia
Jul 29 2013 // Tokio Marine Holdings Inc., Japan’s second-largest non-life insurer, is seeking to expand in Southeast Asia as Japan’s shrinking population erodes its domestic market. The insurer plans to expand in life...
Senate Bill Gives Federal Reserve Flexibility on Systemically Important Insurers
Jul 26 2013 // A bipartisan group of U.S. senators is introducing legislation that would give the Federal Reserve more flexibility in regulating systemically important insurance companies such as American International Group Inc. The...
