Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Oregon Insurers Sue Landowners in Ashland Fire
Dec 3 2012 // Insurance companies that paid $1.7 million to six homeowners in a fire blamed on a homeless Ashland, Ore. man have sued the owners of a vacant lot where the fire started. The suit alleges the owners had been told vagrants...
New York Gov. Cuomo Orders Insurers to Speed Up Sandy Claims
Nov 30 2012 // New York Governor Andrew Cuomo on Thursday imposed emergency regulations on insurers to speed the processing of claims from hundreds of thousands of state residents whose properties were damaged or destroyed when...
U.S. Regulators Urge Flexibility in Basel III Rules for Banks, Insurers
Nov 30 2012 // U.S. lawmakers and state financial regulators on Thursday called on federal officials to revamp proposed rules that would force financial firms to hold much more capital, asking them to consider the impact on small banks...
Wind Deductibles and Sandy: What It Means for Total Insured Losses
Nov 28 2012 // On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the...
Connecticut Archdiocese Sues Insurer Over Misconduct Payments
Nov 28 2012 // The Roman Catholic Archdiocese of Hartford, Connecticut, says its insurer has failed to cover more than $1 million the archdiocese paid out in recent years to settle four sexual misconduct cases involving priests. The...
Taiwan to Pay Life Insurer Transglobe $3 Billion in Record Bailout of Rival
Nov 28 2012 // Taiwan’s government will pay Transglobe Life Insurance T$88.4 billion ($3 billion) to take over ailing rival Kuo Hua Life after Transglobe beat out other competitors in the biggest taxpayer-funded bailout ever by the...
Agency E&O Outlook: Competition, Hard Market, Healthcare Effects and More
Nov 27 2012 // Firmer insurance prices and an upward trend in agency revenues are signs of good times for most independent agencies. These same trends, however, are reflected in today’s insurance market for agency errors and...
Attorneys Discuss Importance of Event Cancellation Insurance
Nov 26 2012 // The cancellation of the 2012 New York City Marathon was disappointing to the approximately 47,000 runners who dedicated months to training for the race, many of whom had already spent a significant amount of time and money...
Snag In Montana Church Abuse Lawsuit Negotiations Over Policy Dispute
Nov 26 2012 // Settlement negotiations between hundreds of alleged sex abuse victims and the Roman Catholic Diocese of Helena may have hit a snag with the church’s insurers refusing to cover the claims. The insurers and the diocese...
As UK Floods Continue, ABI Urges Progress on Stalled Insurance Talks
Nov 26 2012 // The UK is currently experiencing a protracted series of floods, which have swept up the west coast of the country through Wales and into the Midlands. Two deaths have been reported, and over 800 homes and businesses have...
Lawmaker: Every Michigan Resident Should Get $500 from Health Insurer
Nov 26 2012 // A Republican state lawmaker says Blue Cross Blue Shield of Michigan should pay $500 for every Michigan resident as part of legislation that would convert the company from a charitable trust of the state to a customer-owned...
Florida’s Citizens Under Scrutiny for Alleged Management Misconduct, Favoritism
Nov 23 2012 // Florida officials are seeking answers after an internal investigation into the conduct of some former and current executives of the state’s largest property insurer yielded evidence of incomplete investigations into...
In Louisiana, Private Insurers Come Marching in
Nov 21 2012 // Good news out of the Pelican State. While similar state-run insurance entities in Florida and Texas continue to grow at unsustainable paces, Louisiana Citizens Property Insurance Corp. has managed to reduce its policy...
AIG, Others to Take up Half of China PICC’s $3.6 Billion Hong Kong IPO
Nov 21 2012 // Chinese state-owned insurer PICC Group has secured pledges from American International Group (AIG) and other investors to buy about half of its up to $3.6 billion IPO, set to be the biggest in Hong Kong in two years. The...
Swiss Re Sigma Study Analyzes Changes to Insurance Accounting Practices
Nov 21 2012 // Swiss Re announced that its latest sigma study “takes a fresh look at the progress in the long-running debate to make insurance accounting practices more economically relevant and internationally...
Insurers Go Beyond Paying Claims for Sandy Victims
Nov 21 2012 // According to the U.S. Chamber of Commerce, Superstorm Sandy affected 16 states causing unprecedented damage to the East Coast. As a result of the storm, businesses including insurers have pledged more than $123 million to...
SNL Report: Insurers Begin Issuing Sandy Loss Estimates
Nov 20 2012 // A number of insurers have begun issuing their Sandy loss estimates in the weeks since the superstorm devastated the East Coast. The SNL Financial compiled these company-specific loss estimates in a new report this...
Attorneys Discuss Possible Triggers for Business Interruption Coverage
Nov 20 2012 // Superstorm Sandy devastated residents and businesses in the tri-state area. With a nearly unprecedented two-day closure of the New York Stock Exchange, as well as week-long closures of the metropolitan area’s mass...
Florida Advocate Scrutinizes Insurer Use of Credit History to Deny Claims
Nov 19 2012 // Florida’s consumer advocate has called for an investigation into insurers using homeowners’ past credit history to deny claims and cancel policies even though the homeowners have paid premiums for...
The Duty to Indemnify: Making Your Reservation of Rights Work for You
Nov 19 2012 // When is the last time someone reminded you that the duty to indemnify is narrower than the duty to defend? The corollary principle regarding the breadth of the duty to defend is reiterated so often as to be cliche. But...
