Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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,...
Insurer Group: Colorado’s Black Forest Fire $292.8 Million
Jul 15 2013 // The most destructive wildfire in Colorado history caused $292.8 million in insured losses, according to a preliminary report issued on Monday by the Rocky Mountain Insurance Information Association. The estimates include...
R.I. to Keep Assessment Rate for Workers’ Comp Insurers at 6.75%
Jul 15 2013 // The Rhode Island Department of Labor and Training said it is keeping the assessment rate for workers’ compensation insurers unchanged at 6.75 percent for the coming year. The department said this assessment rate has...
Insurance Company Suing Former South Dakota Legislator
Jul 15 2013 // An insurance company is suing a former South Dakota state legislator to recover nearly $10,000 in medical expenses over a mishap during a parade. The Daily Republic reports that State Farm Insurance is suing 65-year-old...
Insurer Denies Coverage in Kansas City Diocese Settlement
Jul 15 2013 // A former insurance company for the Catholic Diocese of Kansas City-St. Joseph, Mo., is seeking to avoid paying for priest sexual abuse settlements. The Chicago Insurance Co. said in a federal court filing that it has no...
Florida Consumer Advocate to Review Insurers’ Homeowners Claims Handling
Jul 12 2013 // Florida’s insurance consumer advocate is launching a group to look at how insurance companies are handling claims from homeowners. Robin Smith Westcott said she is creating a working group to come up with...
San Bernardino Bondholder, Insurer Support Bankruptcy Filing
Jul 12 2013 // San Bernardino should be allowed to stay in bankruptcy, bond insurer Ambac Assurance Co. and a bondholder owed $50 million said in court papers opposing other creditors’ efforts to strip the California city of...
New China Life Falls as Zurich Insurance Sells Shares
Jul 12 2013 // New China Life Insurance Co. fell by the most in almost a year in Hong Kong after Zurich Insurance Co. sold 97.5 million shares in the third-biggest Chinese life insurer by premium income last year. The stock dropped 6.4...
