Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida’s Citizens Eyes Risk Transfer
Feb 6 2012 // Florida’s Citizens Property Insurance Corp. has set the goal of moving at least $1 billion in risk back to the private capital markets while looking to lawmakers to make statutory changes that will assist the insurer...
Ground Shifting for Medical Liability Insurers: Moody’s
Feb 6 2012 // Although it comprises just over 2 percent of annual direct premiums for the U.S. property/casualty insurance industry, the medical professional liability (MPL) insurance business is integral to the U.S. healthcare system,...
Have Insurers Lost the Capacity to Run an Underwriting Profit?
Feb 6 2012 // We frequently hear people ask, “When is the next hard market going to come?” And by that they typically mean double-digit increases in premium growth for a sustained period of time. Of course, no one knows. But...
What to Know About Public Entity Self-Insured Retention Programs
Feb 6 2012 // Public entities across the nation must professionally manage the numerous required services that communities demand. Such services are expensive to operate and, in recent tight budget years, entities are often forced to...
Florida Senate Panel Clears PIP Fraud Bill But House Showdown Looms
Feb 5 2012 // Florida lawmakers are heading to a showdown over the state’s no-fault automobile insurance law with state Senate lawmakers seeking to reform current law as opposed to a House plan that would repeal the law in favor...
Insurer: Penn State Policy Limits Lawsuit Coverage
Feb 3 2012 // Penn State’s insurer wants a judge to determine if it has to provide coverage or pay for defense costs in a lawsuit over alleged child sex abuse by former football coach Jerry Sandusky, a newspaper reported...
Senate Bill on Iran Sanctions Targets Banks, Subsidiaries, Insurers
Feb 3 2012 // Banking transactions with Iran and financing for its oil shipments could come under tougher scrutiny after a bipartisan sanctions bill easily passed a key U.S. Senate Committee on Thursday. The Senate Banking Committee...
West Virginia Mutual Names Wallace President, CEO
Feb 2 2012 // Physician insurer West Virginia Mutual Insurance Co. is under new leadership after naming R. Austin Wallace to serve as president and chief financial officer. Wallace served on the Charleston-based insurer’s board of...
California’s Jones Announces Multi-State Effort on Climate Risk Disclosure
Feb 1 2012 // California Insurance Commissioner Dave Jones on Wednesday announced that the California Department of Insurance has joined with Washington and New York to require insurers to disclose the effects of climate change on their...
New Tool Helps P/C Insurers Manage Volatility of Catastrophe Models
Feb 1 2012 // A new risk management tool promises to help insurance companies understand wide swings in loss estimates from traditional catastrophe models and better plan for large loss events. Karen Clark & Co. (KCC), founded by a...
Report: California Workers’ Comp Insurers Returns Improved in 2010
Jan 31 2012 // After declining for four consecutive years, California workers’ compensation insurers’ return on net worth showed signs of improvement in 2010. That’s according to the data from the National Association...
Lime-St.com For Underwriters Launches Cloud Computing for Insurers
Jan 31 2012 // London Market technology specialists TriSystems has announced the launch of a new electronic underwriting service to complement their electronic broking platform, which, the company said, marks “a significant shift...
French P/C Insurers’ Outlook Now Stable: Moody’s
Jan 31 2012 // In a new industry outlook published today, Moody’s Investors Service says that it has changed the outlook for the French property and casualty (P/C) sector to stable from negative, reflecting insurers’ smooth...
Consumer Group Charges Auto Insurers with ‘Disparate Treatment’ of Low Income Families
Jan 30 2012 // A consumer group on Monday issued a study that alleges “disparate treatment” of low-to moderate-income families by auto insurers nationwide. The group is asking state insurance commissioners to consider...
California Insurance Commissioner, Insurers Settle on Iran Investments
Jan 27 2012 // California Insurance Commissioner Dave Jones and a group of insurers have settled litigation over insurer investments in companies doing business in Iran, it was announced on Friday. The terms of the settlement permit the...
Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings
Jan 27 2012 // In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance...
Florida Lawmakers Reject Bad-Faith Reform Bill
Jan 27 2012 // Business groups in Florida saw their efforts to reform the state’s bad-faith law end suddenly for the year after a legislative committee voted by a one vote margin to kill a bill that would have placed additional...
How Insurance Distribution Is Changing
Jan 26 2012 // Insurance distribution is changing and agents and brokers—retailers and wholesalers—have to define the value they offer and what type of relationships they will have with carriers and customers in the years ahead,...
Missouri Regulators Recover a Record $21M from Insurers in 2011
Jan 26 2012 // Missouri insurance regulators say they returned a record amount in claims recoveries to consumers in 2011. An additional $21 million was recovered from insurance companies by the Missouri Department of Insurance on behalf...
Cruise Liners Need Tighter Safety Rules Say Marine Insurers
Jan 24 2012 // Passenger ship operators should tighten up safety procedures and crew training standards to prevent a repeat of the Costa Concordia shipwreck, potentially the costliest marine insurance loss on record, shipping insurers...
