Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Chairman Nelson Talks About the Future of Lloyd’s
Oct 16 2012 // Lloyd’s of London Chairman John Nelson knew when he acceded to his post one year ago that his predecessor, Lord Peter Levene, would be a hard act to follow. Levene served for nine years and oversaw significant...
European Insurers Still Facing Economic Uncertainty: A.M. Best
Oct 16 2012 // The Eurozone financial crisis continues to be among the most significant challenges facing insurers, although capital is strong for the European primary insurance market, according to A.M. Best Co. In a new report,...
Rising Rates Not Enough to Ease Pressure on UK Insurers
Oct 15 2012 // Market conditions for UK non-life insurers remain challenging as the difficult economic environment curbs demand for coverage and insurers can no longer rely on reserve releases to improve profitability, according to a...
Boston-Based Med-Mal Insurer Coverys Appoints Chief Operating Officer
Oct 15 2012 // Coverys, a Boston-based medical professional liability insurer, announced that Jack Donehue, former chief financial officer for Coverys (then called ProMutual Group) from 1989 to 2010, has returned to the organization as...
3 Reasons Florida’s Citizens Loan Plan Is Bad Idea
Oct 15 2012 // It’s been years since a major hurricane has hit Florida, and the good news for Floridians is that property insurers are filing applications to write policies in the state again. But there’s a plan being hatched...
Florida’s Citizens Puts Brakes on Surplus Note Program
Oct 12 2012 // Florida’s state-backed property insurer has opted to put the brakes on its plan to loan private insurers up to $350 million in surplus in order to address a growing wave of criticism from lawmakers, elected...
EU Insurers Strip Coverage from Tankers Storing Iranian Oil: Reuters
Oct 12 2012 // Two European insurers have withdrawn cover for tankers involved in the Iranian oil trade, the first such move since tough new sanctions were imposed in July, documents obtained by Reuters show. The tankers, operated by...
India’s Battered Insurers May Need More than Foreign Investment
Oct 10 2012 // India’s proposal to allow more foreign investment in its $41 billion insurance business provides a lifeline for an industry starved of capital and squeezed by regulation – but it may not pass parliament and it...
Tennessee Regulators Say Insurers Weighing Shift in Roofing Policies
Oct 9 2012 // Tennessee regulators observed that in recent months, some property/casualty insurers in the state have filed to expand or shift their roofing policy terms to include actual cash value policies. As a result,...
U.S. Insurers Say Fraud Costs on the Rise: Survey
Oct 9 2012 // Forty-five percent of insurers estimated that insurance fraud costs represent 5-10 percent of their claims volume, while 32 percent said the ratio is as high as 20 percent. This is according to a survey of U.S. insurers...
Slow and Steady: Optimism Good for Surplus Lines Market in 2012
Oct 9 2012 // Despite catastrophic events in 2011, low investment yields and competitive pressures, surplus lines specialists — especially market leaders — generated healthy operating profits and returns on both revenue and...
Best Affirms OneBeacon and Subs Group Ratings; White Mountains
Oct 8 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of OneBeacon Insurance Company and its six pooled and four reinsured...
California’s Prop. 33 Latest Battle Between Adversaries Joseph, Rosenfield
Oct 8 2012 // Billionaire insurance executive George Joseph has been fighting with consumer advocate Harvey Rosenfield for two decades over California’s landmark automobile insurance law. This November, the two are squaring off...
N.Y. Court: WC Insurer Can Get Credit Against Rape Victim’s Settlement
Oct 8 2012 // A New York court recently ruled that a workers’ comp insurer can take a credit against its claimant’s third-party civil settlement money. The case involves Beth V., who was employed at a juvenile detention...
Florida’s Citizens Defends Proposed 11.2% Rate Increase
Oct 8 2012 // Executives of Florida’s state-backed insurer defended a proposed statewide average 11.2 percent increase in homeowners rates as regulators, consumer advocates and other officials questioned the need for the...
Citizens Depopulation and Rates – A Practical Solution
Oct 8 2012 // Today, the homeowners insurance marketplace in Florida is dominated by carriers that were start-ups in the 1990s. Many of them grew by participating in takeout programs initiated to reduce the policy count acquired by the...
Bundlers of Joy: Satisfaction with Home Insurers at 12-Year High
Oct 8 2012 // Overall customer satisfaction with homeowners insurance companies is the highest in the 12 years J.D. Power and Associates has measured it, driven in part by the bundling auto and homeowners policies. Overall satisfaction...
Will Regulatory Reform Trigger Doomsday for Captives?
Oct 8 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...
3 Reasons Florida Citizens’ Loan Plan Is a Bad Idea
Oct 8 2012 // It has been years since a major hurricane hit Florida, and the good news for Floridians is that property insurers are filing applications to write policies in the state again. But there’s a plan being hatched by the...
Insurer of Home Values Goes Under
Oct 8 2012 // An Ohio court has ordered Home Value Insurance Co. into rehabilitation for inadequate capital and surplus. The rehabilitation order said that HVIC failed to maintain the $5 million minimum capital and surplus that is...
