Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Q&A With ELANY Executive Maher on Surplus-Lines Industry’s Resiliency
Nov 16 2012 // The Excess Line Association of New York (ELANY) plays a vital role for New York’s surplus-lines industry. The group, a non-profit advisory association created by the New York statute in 1988, is charged with the duty...
Best Revises ICR Outlook to Negative for QBE North America Group; Affirms Ratings
Nov 16 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of the pooled and reinsured members of QBE North America Insurance Group...
UPDATE: China’s PICC in Talks with AIG as Buyer for $4 Billion HK IPO
Nov 16 2012 // China’s PICC Group is in talks with American International Group and others to become cornerstone investors for its planned listing worth up to $4 billion, in what will be Hong Kong’s biggest IPO in two...
I.I.I. Offers Advice to Business Owners on Preparing for Adjuster’s Visit
Nov 15 2012 // The Insurance Information Institute today issued a step-by-step guide to help business owners who are filing a claim in the wake of Sandy. The Institute said there are steps business owners can take now to make the most of...
China’s PICC Group to Raise up to $4 Billion in Hong Kong IPO
Nov 15 2012 // Chinese state-owned insurer PICC Group started meeting institutional investors in Hong Kong on Thursday to gauge demand for a listing worth up to $4 billion, braving a slump in equity deals with the city’s largest...
LexisNexis, BuildFax Collaborate to Expand Homeowners Insurance Information
Nov 14 2012 // LexisNexis Risk Solutions has formed a strategic relationship with BuildFax to assist homeowners insurance companies with the challenges associated with insuring homes. Through this relationship, insurers will be able to...
Best Affirms Markel Corp. and U.S. Subs Ratings; Outlook Stable
Nov 14 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of the members of the Markel North America Insurance Group. Best also...
China’s State Insurers Give ‘Thumbs Up’ to Party with 50-year Bond Buy
Nov 14 2012 // China’s state-owned insurers gave a vote of confidence in the ruling Communist Party as it winds up its five-yearly congress on Wednesday, taking the long view by snapping up a 50-year bond at a low rate. Sovereign...
Q&A With Attorneys on Emerging Business Insurance Topics
Nov 13 2012 // As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance...
Oregon Insurers Sue Landowners in Ashland Fire
Nov 13 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 Ashland Daily Tidings reported the suit alleges...
Louisiana’s State-Run Property Insurer $56M in the Red
Nov 12 2012 // Louisiana’s state-run property insurer of last resort is $56 million in the red, after it covers claims for Hurricane Isaac and settles class-action lawsuits for improper handling of past storm claims. Steve...
Navigating Claims Process Can Be a Challenge for Homeowners
Nov 12 2012 // People looking to rebuild their lives after Superstorm Sandy destroyed and damaged their homes may now have another struggle on their hands: Navigating the often-frustrating claims process with their insurance...
Insurer ING US Files for IPO
Nov 12 2012 // ING U.S. Inc, a unit of Dutch financial services group ING Groep NV, filed to raise up to $100 million in an initial public offering as its parent complies with a European Union mandate to split its businesses. ING Groep...
Philadelphia Insurance Companies Names New CEO
Nov 9 2012 // Bala Cynwyd, Penn.-based Philadelphia Insurance Companies said Chairman and Chief Executive Officer Jamie Maguire will be stepping aside as CEO at the end of this year. He will remain as chairman of the board. Sean...
Superstorm Sandy Stress Scenarios Won’t Impact Insurer Ratings: Fitch
Nov 8 2012 // Even an extreme $40 billion scenario for property/casualty insurance industry losses from Hurricane Sandy would not drive material rating changes for insurers, analysts at Fitch Ratings said today. In a report providing a...
Insurer Aviva Nearing Sale of U.S. Business
Nov 8 2012 // Aviva, the UK’s second-biggest insurer, is closing in on the sale of its underperforming U.S. business, a key part its drive to strengthen its finances in an uncertain economic climate and revive its share price. The...
Consumer Group Asks Officials to Monitor Deductibles, ACC Clauses
Nov 7 2012 // A consumer advocacy group has sent letters to government officials in the northeastern states, urging officials to monitor how insurers handle claims after Superstorm Sandy. The group, the Consumer Federation America...
Insurer Seeks Delay in Landmark Wyoming Hotel Arson Suit
Nov 7 2012 // An insurance company is asking a federal judge in Cheyenne to delay a lawsuit over a disputed insurance claim in a 2010 fire that destroyed a landmark Wyoming hotel. National Security Corp. has asked U.S. District Judge...
Foreign Insurers Enter Myanmar Market with Hope, Caution
Nov 7 2012 // The world’s top insurance firms are setting their sights on Myanmar, steeling themselves for a fight with corruption and ghosts from the nation’s political past. Prudential Plc, AIA Group Ltd and Manulife...
Attorney’s Advice to Insurers on Reducing Class Action Exposure Post-Sandy
Nov 6 2012 // A veteran attorney who spent several years defending insurance companies in lawsuits from Hurricane Katrina is offering advice to insurers on class action and bad faith exposure post-Sandy. Insurers will be denying claims...
