Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI
Dec 28 2012 // Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as...
Insurers Divided Over North Carolina Auto Insurance Rate System
Dec 28 2012 // A divided auto insurance industry will try again next year to change a unique regulatory system in North Carolina, which enjoys some of the lowest rates in the country. The industry will use the argument that average costs...
Events that Topped World Insurance News in 2012
Dec 28 2012 // While 2012 wasn’t as tumultuous as 2011, it had its share of insurance shaking trends and events. Here in roughly chronological order are some of them: 1) The costs of the flooding in Thailand in 2011, wasn’t...
Farmers Agents Sue Carrier Over Contracts, Taking Client Info
Dec 27 2012 // A group of Farmers Group Inc. agents have filed a lawsuit in Los Angeles Superior Court alleging the Los Angeles, Calif.-based carrier has undercut them by sharing their data with a competing subsidiary and several...
P/C Insurers’ Loss Reserves Continue to Surprise Analysts
Dec 27 2012 // Analysts at two rating agencies, Fitch and Moody’s, believe property/casualty insurers’ prior-year loss reserve takedowns will continue to outpace reserve additions in 2013. The analysts spoke about P/C...
Texas Windstorm Insurer: Rates to Increase Jan. 1
Dec 26 2012 // Texas’ property insurer of last resort in coastal counties has issued a reminder to agents that while the maximum limits of liability for residential and commercial properties will remain the same in 2013 as they...
Attorneys Discuss Liability Insurance Coverage for Sandy Litigation
Dec 21 2012 // Homeowners, businesses, and municipalities in the tri-state area continue to rebuild and rebound from Superstorm Sandy. Often, large-scale devastation and destruction are followed by lawsuits against individuals and...
Art Insurers Face Record Loss from Superstorm Sandy
Dec 21 2012 // Fine art insurers face claims of up to half a billion dollars, their biggest ever payout, to compensate the owners of artwork destroyed when Superstorm Sandy flooded galleries in New York. Work by 1960s graphic artist and...
Keystone Insurers Group Adds 2 Georgia-Based Agencies
Dec 20 2012 // Keystone Insurers Group announced the addition of two independent agencies in Georgia to its franchise business for a total of 10 in the state. The new franchise partners are Jowers-Sklar Insurance and The Harbin Agency....
56 Insurance Carriers Deemed High Performers in Texas Work Comp System
Dec 20 2012 // Texas workers’ compensation system regulators report that 56 insurance carriers have been deemed high performers in the system. Announcing the results of the fourth Insurance Carrier Performance Based Oversight...
OSHA Cites Postal Service in Missouri Carrier’s Death
Dec 20 2012 // Federal regulators have proposed a $70,000 fine against the U.S. Postal Service in the death of a mail carrier who had complained about feeling ill from the heat. The Occupational Safety and Health Administration announced...
Carriers ‘Uncertain’ About California Workers’ Comp Reform
Dec 19 2012 // Editor’s Note: This is the fourth in a series of articles to look at California’s workers’ compensation reform law, which takes effect Jan. 1, 2013. Insurance carriers, along with the many stakeholders...
Atlanta Hospitals to Form Own Insurer
Dec 19 2012 // Two of Atlanta’s largest hospital systems have announced plans to form their own insurance company. The Atlanta Journal-Constitution reported that Piedmont Healthcare and WellStar Health System have announced plans...
N.J. Regulators Offer Tips on Managing Settlement Process Post-Sandy
Dec 18 2012 // New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski is offering advice to consumers in an effort to help explain the Sandy claims process. The regulator said that so far, more than 458,000 New...
Praetorian Offers to Lower Florida Forced-Placement Rates by 18.8%
Dec 18 2012 // A forced placement mortgage property insurer providing coverage in Florida has offered to lower its rates by an average of 18.8 percent, despite the fact that state regulators said the rate decrease should be double that...
IIF Report Concludes Capital Curbs on Insurers Will Add to Government Burden
Dec 18 2012 // Proposed curbs on insurers aimed at preventing a repeat of AIG’s 2008 taxpayer bailout could raise the cost of insurance, making more people dependent on the state, a finance sector lobby group said. “As...
P/C Insurance Analysts’ Expectations Climbing: Accenture
Dec 18 2012 // Although returns-on-equity for the property/casualty insurance industry are lagging in the mid-to-upper single-digit range, equity analysts expect companies they recommend with “Buy” ratings to garner returns...
Commentary: Sandy Shows Social Media is Practically Made for Insurers
Dec 17 2012 // In the days before Superstorm Sandy, there were many questions. When and where would it arrive, and what kind of destruction would it bring? Later these questions were replaced with others: were friends and family OK? How...
PCI Responds to IAIS Proposals; Urges ‘Freedom to Structure Co. Operations’
Dec 17 2012 // The Property Casualty Insurers Association of America (PCI) has issued a statement urging the International Association of Insurance Supervisors (IAIS) “to better target its proposed ‘policy measures’ for...
Geneva Association’s Response to IAIS Policy Report Urges Caution
Dec 17 2012 // International insurance think tank, The Geneva Association, published its response to the International Association of Insurance Supervisors’ (IAIS) public consultation, Proposed Policy Measures for Global...
