Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
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...
