Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Best Affirms Wind River Re, U.S. Subs Ratings; Outlook Stable
Dec 27 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S. subsidiaries....
Mississippi Court Overturns Insurer’s Win in Katrina Wind vs. Water Case
Dec 26 2011 // The Mississippi Supreme Court has overturned a judgment for an insurance company in a wind vs. water case involving a Pascagoula home hit by 6.3 feet of storm surge during Hurricane Katrina in 2005. The National Flood...
Consumer Group Hammers Mercury Rate Increase Filing in California
Dec 22 2011 // A California consumer group is challenging a rate hike bid by Mercury Insurance because the group claims the company is trying to pass along the costs of its political campaigning. But the insurer says those costs are not...
E-Trade, Insurers to Settle Mortgage Class Action Lawsuit for $79M
Dec 22 2011 // E-Trade Financial and its insurers have agreed in principle to pay $79 million to settle class action lawsuits brought against the online brokerage as a result of losses in its mortgage and home equity loans portfolio in...
Best Affirms Ratings of Beazley Insurance Company, Inc.
Dec 22 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Beazley Insurance Company, Inc. (BICI), which is based in Farmington, Conn. The outlook...
Best Affirms NIPPONKOA Insurance Company (Asia) Limited’s Ratings
Dec 22 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Hong Kong-based NIPPONKOA Insurance Company (Asia) Limited, both with stable...
Jones Clears Way for California’s ‘Principally At-Fault’ Regulations
Dec 21 2011 // California Insurance Commissioner Dave Jones on Wednesday announced the final approval of amended regulations that simplify the requirements for determining whether a driver is principally at-fault (PAF) for an accident,...
Report: Recent Advances in Casualty Catastrophe Models Help Insurers
Dec 21 2011 // A new report says recent advances in casualty catastrophe modeling can help insurers to understand potential exposures to mass torts. The report, released this month, is titled “The Need for Casualty Catastrophe...
For Florida Gov. Scott, Insurance Fixes Are Legislative Priority
Dec 21 2011 // Gov. Rick Scott wants lawmakers to fix a pair of auto and property insurance issues that are costing Floridians hundreds of millions of dollars but have eluded resolution for more than a decade. The issue facing the...
Insurers May Open ‘Black Box’ Telematics to Escape Gender Ban
Dec 21 2011 // Motor [auto] insurers seeking to get around a European ban on charging male drivers more than women are turning to innovative black box technology that could trigger an upheaval in the way car insurance is...
Study: Private Insurers Can Complement National Flood Insurance
Dec 20 2011 // There is a new study out that examines the U.S. flood insurance program. And it says that according to its calculations, there are some regions in the country where National Flood Insurance Program (NFIP) premiums are too...
Insurance Carrier to Offer Two New Policies for the Price of One
Dec 20 2011 // Did the title of this blog get your attention? I bet it did. Thankfully, it’s not true. Ask yourself, how long could a legitimate insurance company sustain such deep premium discounts? Would you recommend such a...
West Virginia AG Sues Insurer, Auto Repair Shop
Dec 20 2011 // West Virginia Attorney General Darrell McGraw said last week that his office has sued Liberty Mutual Insurance Company and an auto repair shop. The attorney general says the defendants allegedly repaired vehicles with what...
Keystone Insurers Group Adds New Ohio Agency: Evarts Tremaine Flicker
Dec 20 2011 // Cleveland, Ohio-based agency, The Evarts Tremaine Flicker Co., has joined Pennsylvania-based Keystone Insurers Group. The agency is the 29th partner in Ohio. The announcement was made jointly t by Evarts Tremaine Flicker...
Maine-based Workers’ Comp Insurer MEMIC Announces Acquisition
Dec 20 2011 // Workers’ compensation insurer The MEMIC Group acquired a Vermont-based insurer. The insurer also said it plans to expand its operations in Pennsylvania and New Jersey in 2012. MEMIC purchased Granite Manufacturers...
Best Puts Fireman’s Fund Companies on Review/Negative; Affirms Ratings
Dec 20 2011 // A.M. Best Co. has placed under review with negative implications and has also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of...
Swiss Re Sees Continued Emerging Market Growth; Profitability Squeeze
Dec 20 2011 // Insurance in emerging markets has “experienced strong growth over the past decade and the outlook for the next decade remains promising,” a Swiss Re sigma study concludes. However, it also notes that...
Missouri Farm Bureau to Take over 3 Insolvent Insurers
Dec 19 2011 // The state insurance department says the Missouri Farm Bureau will take over the operation of three small insurance companies that became insolvent after paying claims from the deadly Joplin tornado. The three insolvent...
Alabama Awaits Detail of Data Call from Windstorms
Dec 16 2011 // Regulators and consumer groups in Alabama are awaiting the results of a data call from insurers to see if they are quickly handling claims and resolving other residents’ claimants. Commissioner Jim Ridling issued the...
Insurance Australia Group to Acquire New Zealand Insurer AMI
Dec 16 2011 // Insurance Australia Group Limited (IAG) announced it had entered into an agreement to purchase the AMI insurance business for NZ$380 million (approximately A$288 million [US$287.96 million), enhancing its position as New...
