Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Seeks Help to Quicken Approval of Insurer Forms
Jul 3 2012 // Florida regulators are looking to fast track the approval of changes in insurance company property policy forms and coverages after building up a significant backlog due to the numerous law changes enacted in the past two...
Burand’s Agency E&O Blog: Tip #5
Jul 3 2012 // Minor items do cause E&O claims and sometimes your carriers exploit these minor items. Almost every agency occasionally receives law suit papers and every agency knows they have to forward these papers to the carrier...
Mass. Regulator Seeks Insurers’ Executive Pay Data
Jul 2 2012 // Late last month, the Massachusetts Division of Insurance said it began an examination of executive compensation at insurers domiciled in the state. The regulators said they have sent letters to 88 insurers requesting...
Insurer Sues Nocal Surgery Firm Over Alleged Overbilling
Jul 2 2012 // United Healthcare Services has filed a $39 million lawsuit against a Northern California company that manages five outpatient surgery centers, claiming the firm overbilled the insurance carrier and offered doctors...
10 Things Agencies Do Right (and Wrong) with Agency Management Systems
Jul 2 2012 // Records, Reporting, Value Creation As a volunteer engaged with a network of agency management system vendor clients, I have an opportunity to hear from my peers about their experiences and compare this with what goes on in...
City Drivers’ Rates Too High, Too Variable, Says Consumer Group
Jul 2 2012 // The Consumer Federation of America (CFA) says that most good drivers — those with no accidents or moving violations — who live in moderate-income areas in 15 cities are being quoted what the group maintains are high...
Study Finds Insurers’ Reserves Declining
Jul 2 2012 // Research and investment firm Keefe, Bruyette and Woods reported on June 21 its annual P/C industry reserve review. The report found that the insurers’ reserves continue to decline. And it warned that the positive...
J.D. Power: Auto Insurance Satisfaction Reaches All-Time High
Jul 2 2012 // Overall customer satisfaction with auto insurance companies has reached an all-time high, according to the Westlake Village, Calif.-based J.D. Power and Associates’ 2012 U.S. Auto Insurance Study. The satisfaction...
Some P/C Agencies See Potential in Dynamic Health, Benefits Market
Jul 2 2012 // Alignment of Resources Essential for Success The South Central region of the country, particularly Texas, has been a hotbed of activity when it comes to mergers and acquisitions of smaller health and benefit agencies. The...
CFA: Rates for Good Drivers in Cities Too High, Too Variable
Jul 2 2012 // The Consumer Federation of America (CFA) says that most good drivers — those with no accidents or moving violations — who live in moderate-income areas in 15 cities are being quoted what the group maintains are high...
Force-Placed Insurers to Submit Lower Rates in N.Y.
Jul 2 2012 // New York regulators have ordered three major insurers offering “force-placed” homeowners insurance in New York to submit proposals for new premium rates. The state’s Department of Financial Services (DFS)...
Texas Regulators Fine Auto Insurer for Improper Ads
Jul 2 2012 // Texas regulators have fined Loya Insurance Co. $300,000 for what investigators call unfair and deceptive business practices. The Department of Insurance also says Loya failed to file accurate information on rates for its...
A Year Later: The Growth and Outlook of the LexisNexis Insurance Exchange
Jul 2 2012 // The LexisNexis Insurance Exchange — an online single-entry submission system that streamlines the flow of application data among agents, brokers and carriers — celebrated its first anniversary in June. The Exchange,...
R.I. Proposes 6.75% Assessment for WC Insurers
Jul 2 2012 // The R.I. Department of Labor and Training proposed last month an assessment rate for workers’ comp insurers of 6.75 percent for the coming year, effective July 15, 2012. This rate has remained level every year since...
Health Insurers to Pay $62M in Rebates in Illinois
Jul 2 2012 // The Obama administration announced that 300,000 Illinoisans will benefit from nearly $62 million in rebates from insurance companies because of the federal health law that critics have labeled “Obamacare.” The...
Consumer Watchdog Failure Could Help Auto Discount Initiative
Jun 29 2012 // Santa Monica, Calif.-based Consumer Watchdog’s proposed ballot measure to require health insurance companies to get approval before raising their rates narrowly missed qualifying for November’s ballot by...
Agents, Insurers Cheer Congress OK of Flood Insurance Reform Bill
Jun 29 2012 // The Independent Insurance Agents & Brokers of America today praised Congress for passing the “Biggert-Waters Flood Insurance Reform and Modernization Act of 2012.” The legislation will extend the National...
Corporate Winners, Losers Under Supreme Court Healthcare Ruling
Jun 29 2012 // Hospitals and insurers providing Medicaid plans for the poor emerged as the main corporate winners from the U.S. Supreme Court’s decision to uphold President Barack Obama’s healthcare law, while investors in...
Fitch Says Bermuda (Re)Insurers Should Weather Sovereign Downgrade
Jun 29 2012 // According to Fitch Ratings, “while insurance industry concerns factored into Tuesday’s downgrade of Bermuda,” it does not expect Bermuda (re)insurers to be affected, “as all our ratings of Bermuda...
State Farm Seeks 14.9% Jump in Florida Property Insurance Rates
Jun 28 2012 // Florida’s third largest property insurer is seeking a statewide average 14.9 percent increase in property rates as part of a plan to shore-up its fiscal condition while revamping the deductibles and discounts it...
