Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Tulsa Insurer Files Defamation Lawsuit Against Former Lawmaker
Jul 26 2013 // A Tulsa, Okla., insurance company has filed a defamation lawsuit against former board member and state Rep. Wayne Pettigrew. In the lawsuit, First Trinity Financial Corp. claimed that Pettigrew made false and defamatory...
Zurich Among Insurers Said to Be Probed in Expanded N.Y. Inquiry
Jul 24 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...
S&P: ‘Systemically Important’ Designations Could Trigger Restructurings of Global Insurers
Jul 24 2013 // New requirements that will be imposed on insurers that the Group of 20’s Financial Stability Board has designated to be global systemically important insurers (G-SII) may motivate restructurings of these companies...
Canada Insurer Industrial Alliance Targets C$500 Million Deal for Asset Manager
Jul 24 2013 // Industrial Alliance Insurance and Financial Services Inc., the best-performing Canadian insurer in the past year, plans to acquire a money manager in what would be the company’s biggest takeover. Industrial Alliance...
S&P: G-SII Designation Could Affect Ratings in the Longer Term
Jul 24 2013 // The longer-term rating implications for insurers that the Group of 20’s Financial Stability Board (FSB) has designated global systemically important insurers (G-SIIs) will be mixed, according to a report published by...
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...
