Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Health Insurers Nervous Over Prospect of Romney Victory
Oct 30 2012 // You’d think health insurance CEOs would be chilling the bubbly with Republican Mitt Romney’s improved election prospects, but instead they’re in a quandary. Although the industry hates parts of President...
Insurers See Risk in Overuse of Swiss Military Bunkers for Art Storage
Oct 29 2012 // A metal door set into a mountain in Switzerland offers a way out for fine art investors forced to pay over the odds to insure their collections. The doorway leads into a disused military bunker, one of several being sold...
Insurer Drops Nebraska Man’s Policy Due to Police Dog, Then Apologizes
Oct 29 2012 // An insurance company that canceled the homeowner’s policy of a Nebraska sheriff’s deputy because of his K-9 unit dog said it’s looking to change its practices regarding police dogs. American Family...
Insurers Prepare for Hurricane Sandy
Oct 28 2012 // Insurers say they are making the usual preparations for a hurricane – activating claims teams, staging adjusters near the locations most likely to be affected and generally getting ready to pay for a potentially huge...
Former Southern California Auto Club Agent Sues Insurer for ‘Illegal Practice’
Oct 25 2012 // A former insurance agent has filed a class action lawsuit in Southern California against Auto Club over what she alleges is an “illegal commission scheme” that penalizes agents who sell policies to people who...
Will Regulatory Reform Trigger Doomsday for Captives?
Oct 25 2012 // If you’re startled by this headline, you’re not alone. Until recently, the words “reform” and “captive” were rarely used in the same sentence. That’s because captive insurance...
California Commissioner Considering ‘Force-placed’ Regulations
Oct 24 2012 // A meeting slated for Thursday called for by California Insurance Commissioner Dave Jones to deal with “force-placed” insurance has cast the dye for debate on whether such insurance should be filed in the...
Florida’s Citizens President Gilway: Staff Firings Premature
Oct 24 2012 // In the face of criticism, the top executive of Florida’s state-backed property insurer acknowledge his decision to close the insurer’s office in charge of corporate oversight before having its replacement in...
Washington Commissioner Fines Insurer $500,000
Oct 23 2012 // Washington Insurance Commissioner Mike Kreidler is fining Ohio-based BCS Insurance Co. $500,000 for issuing hundreds of thousands of policies using unapproved rates and policy language. BCS Insurance has agreed to pay the...
$42.7M Rate Reduction for California Policyholders of ‘Force-Placed’ Insurer
Oct 23 2012 // California Insurance Commissioner Dave Jones announced a 30.5 percent rate reduction, for “lender-placed” homeowners’ insurance coverage offered by American Security Insurance Co., an Assurant Inc.-owned...
Florida Approves More Policy Takeouts at Citizens; Also OKs Commercial Rate Hikes
Oct 23 2012 // Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal...
As Hedge Funds Cater to Insurers and Pensions, Rich Investors Turn Away
Oct 23 2012 // Rich private investors are turning their backs on hedge funds because moves to attract more conservative pension fund clients mean managers no longer deliver the big returns they crave. The fastest growing source of new...
Argentina to Require Insurers to Invest to Boost Economy
Oct 23 2012 // Argentine President Cristina Fernandez said on Monday insurers would have to invest some of their funds in production and infrastructure projects as she seeks to boost sluggish economic growth. Latin America’s No. 3...
Why the ‘Insurance Consumer Protection and Solvency Act’ Seems Destined to Fail
Oct 22 2012 // The debate over double taxation usually takes place in connection with capital gains or dividend taxes. But Republicans have introduced a bill that seeks to amend the Dodd-Frank Wall Street Reform and Consumer Protection...
Florida’s Citizens Puts Brakes on Surplus Note Program
Oct 22 2012 // By Michael Adams Florida’s state-backed property insurer has put the brakes on its plan to loan private insurers up to $350 million in surplus while it addresses a growing wave of criticism from lawmakers, elected...
Using Social Media Responsibly
Oct 22 2012 // Social media are changing the way insurance professionals do business. How can these forms of media, such as Pinterest, Twitter, Facebook and LinkedIn, help make your business more successful? And how can you protect...
California Legislature not Hesitant to Act on Insurance Issues
Oct 22 2012 // Dysfunctional. Inefficient, Ineffective. Slow. Partisan. Irrelevant. These are terms that regularly appear on editorial pages and political blogs to describe the California Legislature. It is true that when the Legislature...
California City Seeks to Cut Asthma Rate via ‘Social Impact’ Bond Issue
Oct 19 2012 // The city of Fresno, Calif., will be the first municipality in the United States to see whether “social impact bonds,” an innovative security that promotes a societal benefit, can be used to tackle a major...
Louisiana Supreme Court Reduces Insurer Citizens’ Late Payment Penalty
Oct 19 2012 // The Louisiana Supreme Court has relieved the state’s property insurer of last resort of the burden of paying a $125,000 penalty for late payment of a claim settlement stemming from Hurricane Gustav in 2008. Instead,...
Insurers Should Face Capital Charge on Risky, Non-Core Activities: Regulators
Oct 17 2012 // Insurers involved in risky activities outside their core business, such as derivatives trading, should hold extra capital to limit the danger they might destabilize the financial system if they go bust, global regulators...
