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