Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
After Years of Increases, Florida Property Insurance Rates May Be Stabilizing
May 29 2013 // It’s been nearly eight years since Hurricane Wilma raked the southern end of Florida and caused billions in damages, the last of eight hurricanes to hit the state in 2004 and 2005. Yet even as the state has been...
Florida’s Citizens, Heritage Insurance Strike a Deal
May 28 2013 // Florida’s Citizens Property Insurance Corp. has narrowly approved a plan allowing a domestic insurer to remove 60,000 policies and receive as much as $52 million from Citizens in exchange. A short-handed Citizens...
P/C Insurers’ Results Much Better in 2012 Than 2011: A.M. Best
May 28 2013 // Underwriting and operating results for the U.S. property/casualty (P/C) industry improved substantially in 2012 compared with 2011. Net income increased by nearly 52 percent to $39.9 billion from $26.3 billion, reflecting...
Chubb Subsidiary Approved as N.J. Domestic Surplus Lines Insurer
May 28 2013 // The Chubb Group of Insurance Companies said on May 23 it received approval from the New Jersey Department of Banking & Insurance to convert one of its subsidiaries, Chubb Custom Insurance Company, into a domestic...
Florida Gov. Scott Asked to Return Money to Insurer
May 27 2013 // A leading Florida Democrat is calling on Gov. Rick Scott to return $110,000 in campaign contributions from an insurer. Dan Gelber, a former state senator and potential future statewide candidate, wrote a letter Friday to...
Insurers and Climate Change: The Truth is More Complicated than the Sound Bytes
May 24 2013 // As an insurance guy who has been on both sides of the climate change debate (I’ve worked for organizations full of climate change skeptics and now head one that believes it’s an important public policy issue)...
ABI Approves UK Government Plan to Highlight Insurers’ Global Role
May 24 2013 // A bulletin from the Association of British Insurers (ABI) notes that the UK’s Financial Secretary to the Treasury Greg Clark announced on Tuesday May, 21 that the Government has outlined a “strategy for the...
UK Insurer Marketform Expands into U.S. Hospital PL Market
May 23 2013 // Lloyd’s specialist underwriter Marketform will commence underwriting hospital professional liability, comprising medical malpractice and associated general liability insurance, in the United States effective June 1,...
Insurers, Banks Leveraging Trade Talks to Change Dodd-Frank
May 23 2013 // U.S. bankers and insurers are trying to use trade deals, which can trump existing legislation, to weaken parts of the Dodd-Frank Act designed to prevent a repeat of the 2008 financial crisis. While the companies say they...
Top 10 U.S. Insurers in Tornado-Stricken States: SNL Financial
May 23 2013 // The Moore, Oklahoma tornado, which killed 24 people, was the deadliest to touch down during a nearly weeklong outbreak across the U.S. Midwest. The states hardest hit have been Kansas, Missouri, Texas and Oklahoma,...
Lloyd’s Report Highlights Solar Storm Threat as Emerging Risk
May 23 2013 // “A large solar storm could leave tens of millions of people in North America without electrical power for several months, if not years, potentially costing trillions of dollars,” according to Lloyd’s...
N.Y. Assemblyman Takes Aim at Anti-Concurrent Causation Clauses
May 22 2013 // A New York State Assemblyman has introduced a bill that seeks to prohibit the insurers’ use of anti-concurrent causation (ACC) clauses in the state. The bill, A07455, was introduced on May 17 by Assemblyman Phil...
Maine Legislature Votes Down Vacant Property Insurance Bill
May 21 2013 // The Maine Legislature last week voted down a bill that sought to place stricter requirements on home insurers’ use of exclusions for losses on vacant homes. The bill LD 1413 (“An Act to Clarify Limitations on...
Insurer Group Mostly Happy with Missouri Legislative Session
May 21 2013 // The Missouri General Assembly made big strides this year towards modernizing how policyholders can access information associated with their insurance policy, according to the Property Casualty Insurers Association of...
Homeowners not the Only Line of Insurance Affected by Texas Weather
May 20 2013 // Nature’s Perils Drive Cost of Agent E&O Coverage, Too It’s well known that Texas has some of the highest homeowners premiums in the nation – in large part due to the state’s vulnerability to...
TRIA Debate Heats Up with Charge ‘Nervous Nelly’ P/C Insurers Enjoy $7B ‘Subsidy’
May 20 2013 // A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government’s program to help pay terrorism insurance claims...
Three Insurance Companies Placed in Liquidation in Illinois
May 20 2013 // Lumbermens Mutual Casualty, American Manufacturers Mutual Insurance and American Motorists Insurance Cos. have been placed in liquidation in Illinois, according to the state insurance department. State insurance guaranty...
Md. Requires Insurers to Explain ACC Clause
May 20 2013 // Maryland has enacted a new law requiring insurers that write homeowners policies in the state with anti-concurrent causation clauses to explain these clauses to their policyholders on an annual basis. Maryland Gov. Martin...
Opioid Epidemic Plagues Workers’ Comp
May 17 2013 // Prev Next Drug Overdose Death Rates Drug overdose death rates in the U.S. more than tripled since 1990. In 2008, more than 36,000 people died from drug overdoses, and most of the deaths were caused by prescription drugs....
Weston Insurance Company Selects North American Risk Services, Inc. as Third Party Claims Administrator
May 17 2013 // Altamonte Springs, FL, 05/17/13 – North American Risk Services, Inc. (NARS), a premier national third-party claims administrator announces its strategic partnership with the Florida-based domestic property insurance...
