Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Aon Benfield, Impact Forecasting Launch Cat Risk Tool
Sep 4 2012 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced that it has launched “ELEMENTS 7, the loss calculation platform from Impact Forecasting, which enables insurers to more...
Insurers Processing Estimated $1.2 Billion in Hurricane Isaac Claims
Sep 3 2012 // Insurance claims from Hurricane Isaac have starting coming in, with one estimate saying losses to insurers could total $1.2 billion. AIR Worldwide, which models losses for insurers, said its best estimate of losses was...
Supreme Court to Review State v. Federal Class-Action Case Involving Insurer
Sep 3 2012 // The U.S. Supreme Court on Friday agreed to consider the constitutionality of a legal tactic that can make it harder for companies to defend against class-action lawsuits, in a case it will review in the term that starts on...
U.S. P/C Insurers Expected to Withstand Isaac: Fitch
Aug 29 2012 // Fitch Ratings anticipates losses related to Hurricane Isaac will be largely borne by primary insurers, but estimates remain uncertain as the storm has yet to make landfall. Isaac is expected to be less powerful than the...
Towers Watson, Hughes Telematics Offer Auto Insurers Usage-Based Service
Aug 28 2012 // Professional services firm Towers Watson is teaming with Hughes Telematics, Inc. (HTI), a Verizon company, to provide U.S. auto insurers with data services for usage-based insurance (UBI) programs. With the alliance,...
‘Hole-in-Won’ Golf Tourney Insurer Charged With Not Paying Up
Aug 24 2012 // A Connecticut businessman who specializes in insurance for golf tournament hole-in-one prizes has been charged in Washington with multiple felonies after repeatedly failing to pay up. Kevin Kolenda, of Norwalk, Conn., was...
California Health Rates Initiative Qualifies for 2014 Ballot
Aug 24 2012 // The California Secretary of State announced on Thursday that a ballot initiative to require health insurance companies to publicly justify and get approval for rate increases before they take effect has qualified for the...
Insurers Seek 6.1% Increase in Florida Workers’ Compensation Rates
Aug 24 2012 // Florida employers may see their workers’ compensation rates increase as the National Council on Compensation Insurance announced it is seeking a statewide average 6.1 percent rate hike on behalf of insurers. If...
P/C Insurers Show Improved Results Mid-Year: Fitch
Aug 24 2012 // U.S. property/casualty insurers’ operating performance improved significantly in the first half of 2012, according to Fitch Ratings. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers...
Reforms May Save Florida Drivers Up to 24.6% on PIP Premium: Report
Aug 24 2012 // Florida’s new no-fault auto insurance law could result in savings of 14 percent up to as much as 24.6 percent for drivers’ on their personal injury protection premiums, although it remains to be seen whether...
ISO Says States OK Optional By-Peril Rating Rules for Homeowners
Aug 24 2012 // ISO says it has received approval of its Risk Analyzer Homeowners by-peril rating rules in 13 states and has filings pending approval in several other states. ISO would not disclose which states have cleared its filings....
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...
