Latest Carriers Headlines

All the headlines from our Carriers Topic Page, ordered by recency.

Texas Insurance Commissioner: Problems with Wind Insurer not New

Jun 20 2012 // Texas’ top insurance regulator says the precarious financial position of the state’s insurer of last resort for properties in coastal areas is nothing new. Responding to a letter sent to her by State Rep. John...

UK Insurer Cancels Coverage on Russian Ship Going to Syria

Jun 20 2012 // A British company said Tuesday it has cancelled insurance for a Russian ship it says was carrying munitions to Syria – a shipment the British government says included refurbished military helicopters. U.K.-based...

Best Affirms Argo Re, Argo Group and Subs Ratings; Outlook Stable

Jun 20 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Argo Re Ltd. and its subsidiaries, as well as the ICR of...

Mass. Insurers Pledge to Keep Key Benefits of Federal Healthcare Law

Jun 19 2012 // The largest health insurers in Massachusetts say they plan to keep two popular provisions of the federal healthcare law even if the U.S. Supreme Court decides to overturn it. Blue Cross Blue Shield of Massachusetts,...

Rates for Good Drivers in Cities Too High, Too Variable, Says Consumer Group

Jun 19 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...

Best Affirms Kemper Corp., Subs and Affiliates Ratings

Jun 18 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the property/casualty subsidiary and affiliated insurance companies...

Best Affirms Tower U.S. Pool and Affiliated Companies Ratings

Jun 18 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the pooled and reinsured members of the Tower US Pool. Best also...

P/C Insurers, Brokers Added More Jobs, Data Shows

Jun 18 2012 // In early June, the U.S. Labor Department’s Bureau of Labor Statistics released detailed employment statistics for the month of April. The data shows that P/C insurers added 800 jobs in April, for the total of 526,300...

Penn. Judge Says Insurer Must Cover Sandusky’s Legal Bills for Now

Jun 18 2012 // A judge ruled on June 4 that Federal Insurance Co., part of Chubb Group of Insurance Companies, must continue to cover Jerry Sandusky’s defense costs, at least for now. Sandusky is the former Penn State assistant...

Michigan Court Rules for Insurer in Tragic Hit-and-Run

Jun 18 2012 // The Michigan Supreme Court says an insurance company doesn’t have to pay benefits in a hit-and-run case because the incident wasn’t reported within 30 days. The court’s conservative majority overturned a...

Looming Agent Retirements: Carriers Face Major Turnover

Jun 18 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...

Conn. Regulator: New Law Will Improve Oversight of Global Insurers

Jun 18 2012 // Connecticut Insurance Commissioner Thomas Leonardi praised passage of two new laws that give the state greater financial oversight of large, globally active insurers and makes the state a more attractive place for...

U.S. Insurers’ Reserves Redundant by $11.7B: Aon Benfield Study

Jun 18 2012 // Insurers’ reserves were redundant at year-end 2011 by $11.7 billion — or 2 percent of total booked reserves – compared with $22.0 billion at the year-end of 2010, after the industry released $12.7 billion of...

E&O Insights: Why Businesses Need Umbrella Protection

Jun 18 2012 // Umbrellas are apparently not as simple as many would like to believe because various issues involving umbrellas cause more than their fair share of errors and omissions claims. Due to the nature of umbrella coverage, the...

Deductible Reminder

Jun 18 2012 // Eighteen coastal states permit insurers to use hurricane deductibles in their homeowners policies. But the Insurance Information Institute is concerned insureds may not see them even though they are clearly listed on their...

Outlook Is Cautious As Some States See Major Construction Projects

Jun 18 2012 // Apartment Communities May Be Key to Revival The overall construction industry appears to be making a recovery, albeit, a very slow one. Industry watchers say the outlook is better for big utility and public works...

Kentucky’s April Hail Storm Cost Insurers $175 Million: Verisk

Jun 18 2012 // A major hail storm in April in Kentucky is estimated to have caused $175 million in insured losses and damages when balls of ice as large as baseballs battered cars and homes and knocked out power to thousands. The PSC...

Examining Contractor Coverage: How to Avoid Holdbacks in NYC Public Contracts

Jun 18 2012 // The standard construction contract with the City of New York contains a number of provisions that allow the city to retain a portion of payments on a project. The typical retainage “holdback,” where the city...

Florida Court OK with Insurer Not Following Hurricane Deductible Notice to a ‘T’

Jun 18 2012 // The failure to strictly follow the requirements for providing policyholders with information about their hurricane deductible does not mean the deductible is unenforceable, Florida’s high court has ruled. The Florida...

Why Preparation Can Prevent Hurdles from Becoming Project-Killers in Construction Delays

Jun 18 2012 // Financing and Weather Among Top Delay Issues Keeping a construction project on track and on schedule is a big job. Many different pieces need to be in place at the right time. One big issue that often arises is the problem...