Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Using Social Media Responsibly
Oct 8 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...
Insurer Must Pay Missouri Firm $11M in Supply Chain Interruption Case
Oct 8 2012 // A federal jury in in St. Louis has ordered an insurance company to pay $11 million to a Joplin, Mo., company for damages caused by an oil pipeline leak. TAMKO Building Products Inc. said in a lawsuit that Factory Mutual...
Chairman Nelson Charts Future Course for Lloyd’s
Oct 8 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...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Oct 8 2012 // A report out late last month urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those...
Slow and Steady: Surplus Lines Industry Reverses Downward Trend; Optimism Good for 2012
Oct 8 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...
Florida’s Take-Out Plan: Citizens Loans to Willing Private Insurers
Oct 8 2012 // Florida’s state-backed property insurer is considering for the first time investing in private insurers to the tune of $350 million, with the hopes these insurers would then take on up to 300,000 of its policies. The...
Md. Consumers Receive $2M in Restitution From Erie Insurance Companies
Oct 5 2012 // Regulators said Maryland consumers received nearly $2 million in refunded premium and interest payments — after an investigation by the Maryland Insurance Administration discovered that two Erie insurance companies...
Florida PIP Reforms Reduce Hikes But Not Many Premiums Thus Far
Oct 5 2012 // Florida regulators are optimistic that the state’s no-fault auto reforms are having a positive effect on the market and will eventually cut premiums for drivers. But for now they are telling the public that the...
Kentucky Recommends Anthem Health Plan as Benchmark for Insurers
Oct 5 2012 // Kentucky has recommended that the Anthem Preferred Provider Organization serve as the benchmark plan for insurers in Kentucky under federal health care reforms. Anthem’s offerings would be the minimum level of...
Calif. State Fund May Recommend Workers’ Comp Rate Drop in Days
Oct 4 2012 // Editor’s Note: This is the second in a series of articles to look at California’s workers’ compensation reform law in detail and what must be done to implement that law by Jan. 1, 2013. California’s...
Surplus Lines: Regulators Vetting of Alien Nonadmitted Insurers
Oct 4 2012 // The National Association of Insurance Commissioners (NAIC) is a non-profit entity that acts as the trade association for state insurance commissioners. Although the NAIC may play a central role in regulation of the...
North Carolina Insurers Seek 17.7% Increase in Homeowners Rates
Oct 4 2012 // North Carolina homeowners could see their first rate increase in four years as the state’s rating bureau called for a statewide average 17.7 percent increase in loss cost rates. The North Carolina Rate Bureau filed...
Florida Approves 10.8% Rate Hike for Citizens; Also 21.4% for Sinkholes
Oct 4 2012 // Florida regulators have approved a 10.8 percent statewide average homeowners insurance rate increase and a 21.4 percent increase in sinkhole rates for the state-backed property insurer. Insurance Commissioner Kevin McCarty...
P/C Insurers’ Profits Jump in First Half as Catastrophe Losses Drop
Oct 4 2012 // U.S. property/casualty insurers’ net income after taxes jumped to $16.4 billion in first-half 2012 from $4.8 billion in first-half 2011, with insurers’ overall profitability as measured by their annualized rate...
Best Affirms QBE’s U.S. Subsidiaries Ratings; Upgrades Some ICR’s
Oct 2 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of the pooled and reinsured members of QBE North America Insurance Group...
Florida Insurers’ Filings on PIP Rates Due Today
Oct 1 2012 // Automobile insurers have until today to show Florida regulators how much, if at all, they plan on reducing rates on the personal injury protection, or no-fault, portion of drivers’ policies. This could mean that...
Insurer Must Pay Missouri Firm $11M in Supply Chain Interruption Case
Sep 30 2012 // A federal jury ordered an insurance company to pay $11 million to a Joplin, Mo., company for damages caused by an oil pipeline leak. A federal jury in St. Louis returned the verdict. TAMKO Building Products Inc. said in a...
Calif.’s Brown Record ‘Solid’ on Insurance Legislation
Sep 28 2012 // Gov. Jerry Brown saw over a dozen bills related in some way to insurance come across his desk, with a bill to approve driverless cars, a bill to overhaul California’s workers’ compensation system among...
Oklahoma Legislator Criticizes Insurer Premium Tax Credits
Sep 28 2012 // The head of a state House committee that’s scrutinizing millions of dollars in business tax credits is questioning the growth in credits used by insurance companies and whether the state should be reimbursing...
EU Insurers’ Capital Charges May be Cut to Boost Loans
Sep 28 2012 // Capital charges for insurers in the European Union could be cut to encourage lending for long-term projects and help boost the flagging economy, the bloc’s executive body said in a high profile policy shift. The...
