Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
New York Fed Sells Last of Its AIG Assets, Ending Ties with Insurer
Aug 23 2012 // The Federal Reserve Bank of New York brought to a close another chapter in the government’s taxpayer-funded bailouts of 2008 with the sale of its remaining assets of insurer American International Group, the bank...
Rules Protecting Against Hospital ‘Balance Billing’ Suspended in Texas
Aug 23 2012 // In a move that’s angered consumer advocates and doctor groups, Texas’ top insurance regulator has canceled new rules designed to help consumers avoid getting big bills for out-of-network care. The rules were...
Crop Insurers Could Face First Overall Loss in 10 Years: Moody’s
Aug 23 2012 // Record-setting droughts in the U.S. Midwest throughout 2012 are likely to result in substantial gross insured losses for crop insurers and reinsurers and possibly their first overall loss in 10 years, says Moody’s...
Florida Keys’ Citizens Look to Lower Islands’ Risk Profile, Rates
Aug 23 2012 // Frustrated by rising premiums, reduced coverage and a single market, citizens and officials in the Florida Keys are hoping to convince catastrophe modelers, insurers and reinsurers that their islands are not as big a risk...
Mass.-Based Insurer A.I.M. Mutual Hires Former Guy Carpenter Executive
Aug 22 2012 // A.I.M. Mutual Insurance Companies, a workers’ compensation insurer based in Burlington, Mass., has appointed industry veteran Michael Standing as vice president. His responsibilities include market and product...
Calif. Workers’ Comp Losses, Expenses Reach Over $12B
Aug 21 2012 // A report issued on Tuesday by the California Workers’ Compensation Institute shows workers’ comp insurers’ loss and expense payments rose to nearly $12.5 billion in 2011, an increase of over $1...
Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s
Aug 21 2012 // U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to second-quarter 2011, driven by lower catastrophe losses and increased growth in earned premiums, says...
Fund Manager’s Bet on Insurer Coventry Could Pay Off Big
Aug 21 2012 // Several big name hedge fund managers opened sizable stakes in health care insurance companies during the second quarter, and David Einhorn’s bet on Coventry Health Care Inc. may already be paying huge dividends for...
N.J. Reminds Insurers to Provide $250K as Default PIP Coverage Option
Aug 20 2012 // New Jersey regulators recently reminded personal auto insurers and producers that they must offer a $250,000 coverage limit as the default option for personal injury protection (“PIP”) benefits — unless...
Bondholders, Insurers Challenge San Bernardino Bankruptcy
Aug 20 2012 // Bondholders and bond insurers are challenging the eligibility of San Bernardino, California, to file for bankruptcy protection, claiming the city provided no financial information to its creditors. Their court filings...
The End of the Road for Auto Insurance
Aug 20 2012 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 20, 2012. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
Auto Insurance Driver Tracking Hits Privacy Wall in California
Aug 17 2012 // California is turning into a battleground for technology that allows auto insurers to track their customers’ driving behavior and offer them lower premiums, but that privacy advocates reject as an excessive intrusion...
Essentials: Do Brokers Have to Offer the Cheapest Coverage?
Aug 16 2012 // The question of whether insurance brokers are required to obtain the lowest cost insurance that meets the insured’s needs was answered recently by the Missouri Supreme Court in the case of Emerson Electric Co. v....
Florida Regulators Question Castle Key Rate Increases
Aug 14 2012 // Florida regulators are questioning the increases sought by two property insurers that could raise rates on some homeowners by more than 40 percent, even as they reduce their number of policies. Castle Key Insurance Co., is...
Community Associations Grow by Number and Exposure
Aug 14 2012 // In 2011, more than 62 million people lived in residential homes governed by a community association, including homeowners associations, condominiums, cooperatives and other planned communities. According to the Community...
Mass.-Based Insurer A.I.M. Mutual Names Information Technology Manager
Aug 13 2012 // A.I.M. Mutual Insurance Companies, a workers’ compensation insurer based in Burlington, Mass., has promoted Abi Troy to information technology manager.Insurance technology veteran Abi Troy has been promoted to IT...
California Supreme Court Tells Insurers To Pay
Aug 13 2012 // Insurance companies must pay up to the policy limits for cleanup of the Stringfellow Acid Pits in Riverside County, the California Supreme Court ruled. The 17-acre industrial waste dump 50 miles east of Los Angeles near...
Africa’s Pirates Have Demands for Insurers – and a Letterhead, Too
Aug 13 2012 // Welcome to the Pirate Action Group. Pirate commander Jamal wishes to congratulate you on being hijacked. Kindly speak to his negotiator about your ransom, bearing in mind that his demands are similar for every vessel he...
Crop Insurers’ Payouts Already Top $800 Million This Season
Aug 10 2012 // U.S. crop insurers have already paid out $822 million in indemnities this season, but it is still far too early to tell how large the industry’s losses will ultimately be, National Crop Insurance Services said on...
Bond Insurers Challenge Stockton’s Bankruptcy Over Pensions
Aug 10 2012 // Two bond insurers challenged the eligibility of Stockton, California, for bankruptcy, arguing that the city can cut pension benefits, a move that could have profound implications for the state. The court filings set a...
