Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer Ordered to Pay in North Carolina Parasailing Deaths
Sep 24 2012 // An insurance company has been ordered to finish paying $100,000 in the 2009 deaths of two women who were parasailing in Ocean Isle Beach. The StarNews of Wilmington reported that the president of Marine Specialty...
E&O Insights: Know the Details When Insuring Cargo
Sep 24 2012 // It’s important to know all of the details when looking to insure risks with a cargo exposure. Because no two risks are the same, the underwriter will look to the agency to provide those details to fully understand...
Florida’s Citizens to Loan Surplus to Private Insurers
Sep 24 2012 // Florida’s state-backed property insurer is considering investing in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The move is an attempt by...
Official: Texas Coastal Insurer Is Unsustainable
Sep 24 2012 // The Texas Windstorm Insurance Association is not sustainable and likely won’t be until the state spreads the costs of risks associated with major hurricane strikes beyond just Texans living in coastal areas, the...
Insurers Face Tougher Times as Somali Piracy Drops
Sep 21 2012 // A dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers. International...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Sep 20 2012 // A report out Thursday 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 endorsing...
Agents Cite Advance in Fight Against Medical Loss Ratio
Sep 20 2012 // A House subcommittee has advanced a bill that would exclude agency commissions from the formula that limits how much health insurers can spend on administrative and other non-medical costs. The U.S. House of...
Industry Faces Cyber Risks in Shift from Tangible to Intangible Property
Sep 20 2012 // If Mike McGavick is right, the business world will soon be carrying the equivalent of a massive data base in a cell phone. Technology has moved so rapidly that not only the insurance industry, but also business in general,...
Missouri Licenses 25th Captive Insurer
Sep 19 2012 // The Missouri Department of Insurance announced it has licensed its 25th captive insurance company. The state began allowing captive formation in 2007 and had just three licensees before Gov. Jay Nixon signed House Bill 577...
Heightened Regulation Forcing Insurers to Focus on Modeling Risks: Conning
Sep 19 2012 // The growing level of activity among regulatory bodies and quasi-regulatory agencies focused on strengthening insurance solvency protection systems, particularly regarding increased risk capital and enhanced risk...
Flood Insurer Fidelity National Indemnity to Change Name to Wright Flood
Sep 19 2012 // Flood insurance company Fidelity National Indemnity Insurance Co. is being renamed Wright National Flood Insurance Co. The name change must be approved by the Texas Department of Insurance. Wright National Flood is a...
How Agents and Carriers Can Find Gold in Personal Lines
Sep 19 2012 // Independent agents and their companies have over the years been beaten in the personal lines market by direct response carriers and captive agents. But being down so long means there is plenty of room for independent...
ACE Acquires 80% of Indonesia Insurer Asuransi Jaya Proteksi
Sep 19 2012 // ACE Limited announced that it has acquired 80 percent of Indonesian insurer PT Asuransi Jaya Proteksi. The Jakarta-based company is “one of Indonesia’s top 10 general insurers and a leader in personal...
How Low Interest Rates Challenge Insurers and Affect Pricing
Sep 18 2012 // Property/casualty insurers say that principal preservation and total return are the most important objectives of their companies’ portfolio management, yet when asked about their satisfaction level with these two...
Court Orders Rehabilitation for Home Value Insurance Co.
Sep 18 2012 // Home Value Insurance Co. was ordered into rehabilitation by an Ohio court on Aug. 31, 2012, and has been prohibited from selling insurance in the state due to its failure to maintain minimum capital and surplus. The...
Insurer Group PCI Names Wienecke as Senior VP for Government Relations
Sep 17 2012 // The Property Casualty Insurers Association of America (PCI) has named Nathaniel F. Wienecke its senior vice president, federal government relations. Wienecke comes to PCI after three years at JPMorgan Chase & Co.,...
Connecticut Attracts Its Second Captive Insurer
Sep 17 2012 // Connecticut Governor Dannel Malloy announced last week that Stanley Black & Decker is moving its captive insurance subsidiary, SBD Insurance, Inc., from Vermont to Connecticut, establishing the state’s second...
Re/insurers Increasingly Less Relevant to Global Economy: XL CEO McGavick
Sep 17 2012 // XL’s CEO Mike McGavick doesn’t mince words when it comes to looking at the big, and not very pretty, picture of the state of the re/insurance industry. Address emerging risks, innovate, create new products and...
Myanmar to Open Insurance Sector to Foreigners in 2015
Sep 14 2012 // Myanmar will allow foreign investors into its insurance sector by around 2015 once local private insurers have had time to establish themselves, a senior government official told Reuters. “We need to give these local...
Official: Texas Coastal Insurer Is Unsustainable
Sep 14 2012 // The Texas Windstorm Insurance Association is not sustainable and likely won’t be until the state spreads the costs of risks associated with major hurricane strikes beyond just Texans living in coastal areas, the...
