Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Lucky Or Smart? Experts Weigh-In On P/C Industry’s Sandy Impact
Feb 7 2013 // At least one industry analyst says that good risk management is protecting insurers as they face a new normal level of catastrophe losses. Other experts believe luck is playing a bigger role than skill. Speaking at the...
N.J. Announces New Captive Insurer; 8 Captives Approved Since 2011
Feb 7 2013 // The New Jersey Department of Banking and Insurance announced Wednesday that the department approved Lumerica Insurance Company, a subsidiary of BASF Americas Corporation, to operate as a captive insurer in New Jersey. The...
Debate Over Terrorism Insurance to Be Renewed
Feb 6 2013 // Bipartisan legislation filed yesterday in the House of Representatives promises to renew the federal terrorism reinsurance program and the debate about whether the backup program is necessary. Introduced by Reps. Michael...
Workers’ Compensation Insurer MEMIC Expanding to Florida
Feb 6 2013 // Portland, Maine-based workers’ compensation insurer The MEMIC Group said it will open its first office in Florida in the second quarter of 2013. MEMIC President and CEO John T. Leonard said the company’s plan...
New York Recruiting Insurers for Health Benefit Exchange
Feb 5 2013 // New York has started recruiting insurance companies to provide coverage through the New York Health Benefit Exchange created under national health care reforms. The exchange says that plans must provide comprehensive...
Florida Report Cites Citizens’ Outside Vendors, Claims Handling
Feb 4 2013 // Florida regulators have released a report into Citizens Property Insurance Corp., finding that the state-backed company failed to sufficiently negotiate outside vendor contracts and review travel and other expenses, while...
Obama Offers Compromise on Birth Control Insurance Coverage
Feb 4 2013 // The Obama administration on Friday sought to settle a dispute with religious leaders over whether employees at faith-affiliated universities, hospitals and other institutions should have access to health insurance coverage...
Appraisals, Breach of Contract and Bad Faith: Is There a Connection?
Feb 1 2013 // One of the axioms of Texas bad faith law has always been that there is no bad faith where a carrier has not breached its duties to the insured. If you act reasonably and make a mistake, it is not bad faith. In almost all...
Lloyd’s Insurer Jubilee Welcomes Rules on PPI to Rebuild Confidence
Feb 1 2013 // Jubilee, the specialist Lloyd’s insurer, has broadly welcomed the joint Financial Services Authority (FSA) and Office of Fair Trading (OFT) final guidance on Payment Protection products as an important move forward...
California Department of Insurance: $20M Rate Reduction for Homeowners
Jan 31 2013 // Insurance Commissioner Dave Jones on Thursday announced today a 35 percent rate reduction for lender-placed homeowner’s insurance coverage offered by QBE Insurance Corp. The rate reduction will result in an estimated...
Too Early to Know Cost of 787 Dreamliner Claims, Says Boeing’s Insurer
Jan 30 2013 // Boeing Co. has some insurance in case its aircraft are grounded, but it is far too soon to say whether the problems with the 787 Dreamliner will lead to significant claims, the head of the planemaker’s lead insurer...
Sandy Hit N.J.’s Maritime Industry Hard; Insurer Says 25,000 Boats Damaged
Jan 29 2013 // Capt. Harold “Smitty” Smith couldn’t believe it — they were everywhere, hundreds of them.Boats cluster together at a marina in Brant Beach, on Long Beach Island on the N.J. shore, on Oct. 30, 2012,...
Insurers Say Latest CFA Study Is Flawed; Marketplace Is Highly Competitive
Jan 29 2013 // The new auto insurance pricing study from the Consumer Federation of America (CFA) is getting roundly criticized by insurance industry representatives. The representatives say that states’ auto insurance marketplaces...
P/C Insurers Better Positioned Than Life Firms for 2013: Moody’s
Jan 29 2013 // Both the life and property/casualty (P/C) insurance industries will be challenged in 2013 by slow economic growth that dampens sales and by evolving regulatory frameworks, according to Moody’s Investors Service in...
CFA Report: Largest Auto Insurers Often Charge Higher Premiums to Safe Drivers
Jan 28 2013 // In its latest report on auto insurance premiums charged by the largest auto insurers, the Consumer Federation of America said these insurers frequently charge higher premiums to safe drivers than to those who recently...
Best Affirms AIG, U.S. Property/Casualty Subs Ratings; Outlook Stable
Jan 28 2013 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” of New York-based American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and...
U.S. Insurers Should Be Stable in 2013, Says S&P
Jan 28 2013 // U.S. insurance sectors are generally poised for stable credit trends in 2013, resulting from strong balance sheets, a stable business climate, and improved enterprise risk management, according to Standard &...
Citizens’ Travel Expenses Excessive, Audit Finds
Jan 28 2013 // A review by Florida’s chief inspector general contends that employees at the state-created Citizens Property Insurance racked up excessive travel expenses over an eight-month period. Florida Gov. Rick Scott ordered a...
After the Storm: Agents’ E&O Lessons Learned
Jan 28 2013 // More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. For the most part, the types of allegations and claims that surface after a catastrophe are the same as...
Surplus Lines Regulatory Picture for 2013
Jan 28 2013 // State implementation of the Nonadmitted and Reinsurance Reform Act (NRRA), effective July 21, 2011, proceeded relatively smoothly during 2012, albeit with a few hiccups as industry and regulators navigated the transition...
