Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
A.M. Best on Court Ruling: No Effect on Most Health Insurers But Watching Small Insurers
Jun 28 2012 // Insurance rating organization A.M. Best Co. says the U.S. Supreme Court upholding the Patient Protection and Affordable Care Act (PPACA) will not have a ratings impact to the majority of health insurers. However, A.M. Best...
Mass. Seeks Executive Pay Data From Insurers Domiciled in State
Jun 28 2012 // The Massachusetts Division of Insurance is undertaking a detailed examination of executive compensation at insurance carriers domiciled in the state.Commissioner Murphy said his agency initiated the review to gather more...
Medical Liability Insurer ProAssurance to Acquire Medmarc in Virginia
Jun 28 2012 // ProAssurance Corporation, a Birmingham, Ala.-headquartered medical liability insurer, said it is acquiring Medmarc Insurance Group. Medmarc, based in Chantilly, Virginia, specializes in products liability insurance for...
Today’s Supreme Court Healthcare Ruling: Possible Scenarios, Effects
Jun 28 2012 // The U.S. Supreme Court’s ruling on President Barack Obama’s 2010 healthcare law, expected on Thursday, may have wide-ranging political and economic implications. Here is a look at possible scenarios for...
Citizens New President Gilway: Changes Coming, but Progress Will Be Slow
Jun 27 2012 // The new chief of Florida’s policyholder-backed property insurer Citizens Property Insurance offered no magic bullet to depopulate the insurer, but promised the insurer will charge higher rates for less coverage in...
Best Sees No Change in MAPFRE USA Group Ratings
Jun 27 2012 // A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings of “a” of the members of MAPFRE USA Group are unchanged following the recent market...
P/C Insurers Profits Rose to $10.1B in Q1
Jun 27 2012 // Private U.S. property/casualty insurers’ net income after taxes rose to $10.1 billion in first-quarter 2012 from $7.8 billion in first-quarter 2011, with insurers’ overall profitability as measured by their...
Rep. Cummings Wants Federal Workers Comp Insurer for Overseas Contractors
Jun 26 2012 // U.S. Rep. Elijah Cummings, D-Md. – the former chairman and current ranking Democrat on the House Oversight and Government Reform Committee – has some issues with American International Group. And generally speaking, we...
Customer Satisfaction with Auto Insurers at New High: J.D. Powers
Jun 26 2012 // Overall customer satisfaction with auto insurance companies has reached an all-time high, according to the J.D. Power and Associates 2012 U.S. Auto Insurance Study. The satisfaction rate was driven primarily by increases...
Best Special Report on Russia Says ‘Insurance Revolution Begins to Gain Pace’
Jun 26 2012 // A.M. Best ahs issued a special report – “Russia’s Insurance Revolution Begins to Gain Pace,” which notes that “insurance penetration is low, even when including compulsory lines such as...
Regulators: Fewer Complaints Against Michigan Insurers in 2011
Jun 25 2012 // Consumer complaints against Michigan insurance companies are slightly down from the previous year. The Office of Financial and Insurance Regulation says in a statement that the agency received 3,441 insurance...
Best Affirms, Assigns Ratings to GEICO and Affiliates; Outlook Stable
Jun 25 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of the members of Government Employees Group (GEICO), which is based in...
Re/insurers Join Efforts to Support UN’s Principles for Sustainable Insurance
Jun 25 2012 // A number of insurers and reinsurers have agreed to join the UN-backed set of Principles for Sustainable Insurance. The initiative aims to provide insurance tools for risk management in support of environmental, social and...
Health Insurers to Pay $62M in Rebates in Illinois
Jun 22 2012 // The Obama administration has 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...
White Mountains Acquires 2 PICO Holdings Insurers in Run-Off
Jun 22 2012 // White Mountains Solutions Holding Co. , a wholly owned subsidiary of White Mountains Insurance Group, Ltd. and the group’s specialist runoff acquisition operation, has agreed to acquire Physicians Insurance of Ohio...
Health Insurers to Rebate $1.1 Billion
Jun 22 2012 // U.S. health insurance companies are due to pay out $1.1 billion in rebates to employers and individuals this summer, under a new industry regulation imposed by President Barack Obama’s health care law, the...
Law Firms’ Insurers to Compensate Investors Hurt by Mortgage Crisis
Jun 21 2012 // In a rare instance of law firms compensating investors burned in the mortgage meltdown, Greenberg Traurig and Quarles & Brady moved closer on Wednesday to settling a class action that accused them of participating in a...
Looming Agent Retirements: Carriers Face Major Turnover
Jun 21 2012 // More than 25 percent of independent agency owners and principals are planning to retire or change careers and sell their firms sometime in the next five years, according to a new survey that explores agent attitudes about...
Insurer Sues Nocal Surgery Firm Over Alleged Overbilling
Jun 21 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...
New CEO Named for R.I.-Based Narragansett Bay Insurance Company
Jun 20 2012 // Pawtucket, R.I.-based Narragansett Bay Insurance Company has named Todd Hart as the new chief executive officer after a national search. Narragansett Bay founder Nick Steffey, who has stepped down from the CEO role, will...
