Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Willis Re Reports on Mutual Insurers’ Diversification Challenges, Opportunities
May 3 2012 // Willis Re, the reinsurance arm of Willis Group Holdings, has released a report discussing the challenges and opportunities offered to mutual insurers through diversification, subtitled “Navigating the Pitfalls in...
Oklahoma Shopping Center Sues Insurer, Metal Plant, Others
May 2 2012 // The owner of a Muskogee, Okla. shopping center damaged during a deadly explosion seven years ago has sued a scrap metal plant. An insurance company, an engineering company and a claims and appraisal firm also are named as...
New York Proposes New Rule to Crack Down on No-Fault Insurance Fraud
May 2 2012 // New York State regulators are expanding their effort to stop no-fault auto insurance fraud. The New York Department of Financial Services announced on Tuesday a new draft regulation, Regulation 68, that would make it...
Survey: Agencies Seek Carrier Help to Expand into New Niches
May 2 2012 // The challenges of today’s economy appear to be driving some independent agents into new niche insurance markets and product lines. Almost 60 percent of independent agents say they have begun to or plan to expand into...
Geneva Association Reminds Federal Reserve Insurers Aren’t Banks
May 2 2012 // The Swiss-based insurance think tank Geneva Association has followed up on its recent report as to whether or not some insurers should be considered as G-SIFI’s (globally systemic important financial...
Court Reverses Mississippi Award Over ‘Negligent’ Flood Policy Advice
May 1 2012 // An insurance company selling federal flood insurance has won a case against a Mississippi homeowner who claimed the insurer was negligent in not informing him that he was eligible to buy a preferred risk policy with more...
Fewer Auto Insurance Buyers Shopping But More Switching Carriers: J.D. Powers
May 1 2012 // The auto insurance shopping rate has reached the lowest point in the past five years, with only 25 percent of insurance customers indicating they shopped for a new insurer in the past 12 months, down eight percentage...
Shipping Exec: India’s State Insurers to Provide $50 Million Cover for Iran Oil Buy
May 1 2012 // Indian state-run insurers have agreed to give limited cover to local ships for carrying Iranian oil, helping the energy-hungry country import reduced volumes from sanctions-hit Tehran from July, a Shipping Corp of India...
Judge: Montana City Must Pay $3M Judgment To Insurance Company In Lawsuit
Apr 30 2012 // A state judge has ruled the city of Bozeman in Montana must repay its insurance company the $3 million it paid after the city lost a lawsuit filed by a developer. Developer Mike Delaney sued the city in 2003 alleging the...
Insurer Says It’s Not Liable for Drug-Related Fire in Michigan
Apr 30 2012 // An insurance company claims it should be reimbursed after a fire linked to drugs badly damaged a house in Bay City, Mich. Nationwide Mutual Fire Insurance of Columbus, Ohio, has filed a federal lawsuit seeking to recover...
Insurance Company Balks at Claims in Fatal Conn. Fire
Apr 30 2012 // An insurance company said it should not have to pay claims or lawsuits stemming from a Christmas morning fire that killed five people because a contractor renovating the house misrepresented the type and scope of work his...
Consumer Rebates Under Medical Loss Ratio Estimated to Be $1.3 Billion
Apr 30 2012 // More than 3 million health insurance policyholders and thousands of employers will share $1.3 billion in rebates this year, thanks to President Barack Obama’s health care law, according to a nonpartisan research...
North Dakota Fines 2 Insurance Companies
Apr 27 2012 // North Dakota insurance regulators have fined two mutual insurance companies $10,000 each for operating outside their authorized territories. State Insurance Commissioner Adam Hamm says his office fined West McLean Farmers...
Rate Hike Proposal Sent to Board of Texas Windstorm Insurer
Apr 27 2012 // In advance of the start of hurricane season, the actuarial underwriting committee of Texas’ property insurer of last resort for coastal counties is recommending a rate increase. The committee on April 20 voted for a...
Best Affirms Horace Mann Educators and Subs ‘A-‘ Ratings
Apr 27 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the property/casualty group, Horace Mann Insurance Group and its...
Bill To Align California With Dodd-Frank Passes Committee
Apr 26 2012 // The California Senate Insurance Committee passed a law regarding reinsurers that would put the state in alignment with the Dodd–Frank Wall Street Reform and Consumer Protection Act and a model law from the National...
Goldman Must Defend Bond Insurer’s Fraud Claims
Apr 25 2012 // Goldman Sachs Group Inc. must defend fraud claims brought by a bond insurance company over its notorious Abacus mortgage product deal, a New York state judge ruled, but she decided that the investment bank did not unjustly...
N.Y. Gov. Cuomo Says Life Insurers Paid Over $262M After Probe
Apr 24 2012 // New York Gov. Andrew Cuomo said this week that a regulatory investigation into how insurers tracked life insurance policyholders resulted in 32,715 payments to consumers nationwide. The overall amount paid by insurers is...
Best Affirms Chubb Corp. and Subs ‘A++’ Ratings
Apr 23 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of the Chubb Group of Insurance Companies and its property/casualty...
Hartford to Give $24M in Premium Credits to N.Y. AD&D Policyholders
Apr 19 2012 // Hartford Life Insurance Company, a subsidiary of The Hartford Financial Services Group, agreed to give $24 million in premium credits to some 300,000 New York residents who bought the company’s accidental death and...
