Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Supreme Court Rules Replacement Cost Includes Contractor’s Profit
Jul 24 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 the fact the repairs may not...
IA&B Survey: Agencies Report Slight Decrease in Commercial Carrier Satisfaction
Jul 23 2013 // Insurance Agents & Brokers (IA&B) — a partnership of three agents’ associations serving Pennsylvania, Maryland and Delaware — said its latest survey shows its members’ overall satisfaction...
Pennsylvania Agency Hart, McConahy & Martz Joins Keystone Insurers Group
Jul 22 2013 // Keystone Insurers Group has added Erie, Penn.-based agency Hart, McConahy & Martz as a new franchise partner. Established in 1872, Hart, McConahy & Martz is Erie’s oldest insurance agency. Over the years,...
Boy Scouts Sues Insurers to Fund Abuse Settlement
Jul 22 2013 // The Boy Scouts of America sued two insurance companies to try to recoup the costs of a settlement with two former Scouts who were sexually abused. BSA, which is based in Dallas, said in its lawsuit that the insurers...
Firm Running R.I. Health Exchange’s Call Center an Affiliate of Health Insurer
Jul 22 2013 // The company that was awarded a $24 million contract to operate the Rhode Island health benefits exchange’s customer service center is an affiliate of one selling plans on the exchange, but state officials say there...
Political Risk Insurance: Certainty for CEOs in Uncertain World
Jul 22 2013 // Except for Egypt, political risk insurance has been growing Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the...
Bill Would Restore Glass-Steagall Wall Between Banks, Insurers
Jul 22 2013 // A small bipartisan group of U.S. senators has introduced legislation to restore the wall separating traditional banking activity from riskier financial services. The bill, called the 21st Century Glass-Steagall Act, shows...
Agencies of the Future
Jul 22 2013 // A report from McKinsey & Co., titled “Agents of the Future: The Evolution of Property and Casualty Insurance Distribution,” warns that the division of labor between carrier and agent is blurring....
Swiss Re, Lloyd’s Among Insurers Probed on Iran Sanction
Jul 22 2013 // Swiss Reinsurance Co. and Lloyd’s of London, the world’s oldest insurance market, are among insurance companies being probed by New York’s insurance regulator about their compliance with an expanded Iran...
N.J. Utility Sues 11 Insurers Over Sandy Coverage
Jul 22 2013 // Public Service Enterprise Group, the largest provider of gas and electric service in New Jersey, sued 11 insurers, including American International Group Inc., over losses from Hurricane Sandy. PSE&G, which provides...
Europe Insurer Trade Group Criticizes Listing Companies as G-SII’s
Jul 19 2013 // Europe’s insurers criticized the approach taken by international regulators which named firms considered systemically important as they try to reduce financial risks from the sector. Two global financial watchdogs...
Insurers, Republicans Part Ways Over Global Warming
Jul 19 2013 // The U.S. insurance industry told Senators that a surge in weather-related catastrophes has forced billions of dollars in payouts, offering an assessment at odds with Republicans who have expressed doubt about global...
Geneva Association Reacts to G20 Insurers’ Capital Mandate
Jul 19 2013 // The Geneva Association, the international insurance think tank, issued a bulletin following the publication of both the Financial Stability Board’s (FSB) list of global systemically important insurers (G-SIIs) and...
G20 to Require Largest Insurers to Hold More Capital from 2019
Jul 19 2013 // The largest global insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, global regulators said on Thursday. Regulators also released an initial list of...
Insurer Loss Ratios High in Oklahoma After Years of Extreme Storms
Jul 18 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...
N.J. Court Rejects Insurer’s Argument, Rules Missing Man Not Liable for Cop’s Injury
Jul 18 2013 // A New Jersey state appellate court has ruled that a man who went missing in northern New Jersey is not financially responsible for the injuries suffered by a police officer who was hurt while trying to find him. The...
Arbitrator: Mass. Diocese Needs Up to $49M From Insurer to Replace School
Jul 18 2013 // An arbitration panel has ruled that the Roman Catholic Diocese of Springfield, Mass., should get as much as $49 million from its insurance company to replace Cathedral High School, which sustained such severe damage during...
Conn.-Based Insurers Now Required to Participate in NAIC Climate Risk Surveys
Jul 17 2013 // Connecticut Insurance Commissioner Thomas Leonardi today announced that Connecticut-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a...
New York Health Exchange Lowering Some Consumer Premiums 50%
Jul 17 2013 // Health insurance premiums will drop by about 50 percent on average for consumers in New York who buy new plans through a state-run marketplace created by the U.S. Affordable Care Act. The state approved plans to be sold by...
How Casualty Actuaries Help Insurers Manage Nanotech, Other Emerging Risks
Jul 16 2013 // Casualty actuaries can help insurers meet the demand for new products by identifying, analyzing and pricing new risks, according to two speakers at the srping meeting of the Casualty Actuarial Society. Since the mid-1980s,...
