Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insolvent Missouri Insurers to Be Managed by Farm Bureau
Jan 9 2012 // A Barton County, Mo., judge in December 2011 approved a proposal to allow Missouri Farm Bureau to assume operations of three small insurance companies that became insolvent after paying claims from the May 22 Joplin...
Report: Liberty Mutual Failed in Bid to Buy Harleysville
Jan 6 2012 // It turns out there was another player in last year’s merger deal between Nationwide Mutual Insurance Co. and Harleysville Mutual Insurance Co. According to a news report, Liberty Mutual also made an offer last...
XL Gets Brazil Go-Ahead for New Insurer
Jan 6 2012 // The XL Group plc and its subsidiaries announced that the Group has received final approval from the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados (SUSEP), to establish an insurance...
Insurer Sues Google in Alabama Over Unflattering Search Results
Jan 5 2012 // An insurer is hoping to use an Alabama state law governing deceptive trade practices to stop Google from prominently displaying negative websites about the company. American Income Life Insurance Co. has filed suit in the...
Oklahoma Commissioner Disappointed in Denial of MLR Waiver Request
Jan 5 2012 // Oklahoma’s top insurance regulator believes the medical insurance market is headed for “disruption” as a result of the medical loss ratio component of federal health insurance reform After...
Insurance Veterans’ Forecasts for 2012
Jan 5 2012 // Now that the year 2011 is behind us, let’s take a look at what might be ahead. Insurance Journal spoke with leading industry professionals and asked them what they are expecting this year. If their forecasts are any...
Western Insurance Agents Roundtable Discussion Highlights
Jan 5 2012 // Rancho Cordova, Calif.-based WIAA Education & Research Foundation, a nonprofit corporation focused on advancing knowledge of insurance industry professionals, hosted a recent roundtable discussion on the industry and...
Maine-based Workers’ Comp Insurer MEMIC Group Announces Promotion
Jan 4 2012 // The MEMIC Group, a workers’ compensation insurer headquartered in Portland, Maine, promoted Jeff Funk to the position of assistant vice president. MEMIC said Funk played an integral role in MEMIC’s expansion in...
Ruling Boosts Bond Insurer MBIA’s Fraud Suit Against BofA’s Countrywide
Jan 4 2012 // A New York state judge made it easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently inducing it to insure risky...
AXA, Japan Post Top Best’s List of World’s Largest Insurers
Jan 4 2012 // France’s AXA S.A. has again topped the list of the world’s 25 largest insurance companies, based on premiums written, compiled by A.M. Best. The lists, which were compiled both on asset value and on net...
Ground Shifting for Medical Liability Insurers: Moody’s
Jan 3 2012 // Although it comprises just over two percent of annual direct premiums for the U.S. property and casualty insurance industry, the medical professional liability (MPL) insurance business is integral to the U.S. healthcare...
Despite Losses, Insurers Not Hiking Prices Broadly
Dec 29 2011 // Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those...
North Carolina Farm Bureau Weighs Cutback in Homeowners Policies
Dec 29 2011 // One of North Carolina’s largest homeowners’ insurers says it is considering canceling the coverage of up to 70,000 homeowners unless the state Legislature makes changes allowing it to charge higher rates. North...
Penn. Senator Asks Flood Insurers to Quickly Process Remaining Claims
Dec 29 2011 // U.S. Senator Bob Casey (D-Penn.) is asking flood insurance companies to quickly process remaining claims from Irene and Lee. He says some 25 percent of the claims in Pennsylvania are still not...
ACE Acquires Ecuador General Insurer Rio Guayas
Dec 29 2011 // The ACE Group announced that it has acquired Rio Guayas Compania de Seguros y Reaseguros, a general insurance company in Ecuador that is owned by Banco de Guayaquil, for approximately US$55 million in cash. The insurer was...
Insurers Worry 2012 Will Top 2011 for Record Weather Disasters
Dec 28 2011 // From floods that crippled countries, to mega cyclones, huge blizzards, killer tornadoes to famine-inducing droughts, 2011 has been another record-breaker for bad weather. While it is too early to predict what 2012 will be...
Insurers Divided Over North Carolina Auto Insurance System
Dec 27 2011 // Is it more important to keep overall car insurance premiums low, or to make sure everyone’s paying what they deserve? North Carolina legislators once again examining the unique rate-setting system for the...
BNY Mellon Settles N.Y. Probe Involving Insurer’s Debt Security Sale
Dec 27 2011 // The Bank of New York Mellon Corp. will pay $1.3 million to three states to settle an investigation into manipulative trading of auction rate securities facilitated by employees at one of the company’s subsidiaries,...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
Insurer for Sandusky Charity in Pennsylvania Argues Over Payouts
Dec 27 2011 // An insurance company for a charity founded by Jerry Sandusky argued in a federal complaint last Friday that it should not have to pay legal expenses or claims for the former Penn State assistant football coach now accused...
