Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Wanted: Industry Seeks Out Specialty Marine Brokers
Oct 3 2011 // Two developments in the marine market have combined to create a tantalizing opportunity for wholesale brokers and managing general agents (MGAs) to serve the marine marketplace. While marine revenues remain fairly flat,...
Florida in Danger, Warns Hurricane Fund Chief
Oct 3 2011 // Florida’s hurricane fund chief is warning that the state-created fund used to help insurers pay off claims after a big storm is in danger. The state has relied on a hurricane fund ever since Hurricane Andrew...
D.C. Metro Sues Insurer Lexington for $13M Over Lost Revenue
Sep 30 2011 // Washington Metropolitan Area Transit Authority has recently filed a lawsuit against its insurer Lexington Insurance Co. of Boston charging that that the insurer failed to indemnify for the revenue losses in the train...
Nationwide, Harleysville CEOs Reassure Agents: Merger All About Growth
Sep 30 2011 // The merger of insurer Nationwide Mutual with regional carrier Harleysville Mutual is all about growth, not only for the companies but also for their independent agents, according to the CEOs of the two...
After Embezzlement Claim, Insurer Drops Tennessee County’s Policy
Sep 30 2011 // Officials in Shelby County in Tennessee said their insurance company is not renewing the county’s policy protecting against financial crimes, a move that stems from an alleged embezzlement scheme at Chancery Court...
IAIS Study Indicates Big Insurers May Not Face Same Capital Rules as Banks
Sep 30 2011 // Insurance companies judged too big to fail are likely to face different rules than their banking counterparts, who were told this week that they will be subject capital surcharges, insurance industry standard setters said...
Insurer Retools Home Value Insurance Coverage
Sep 30 2011 // Home Value Insurance Co. has re-entered the insurance market with a product that promises to protect homeowners from falling home values. Home Value Insurance initially launched the product in 2009. The company has...
Aon Benfield: Reinsurers Expected to Pay 2/3 of Australia, NZ Cat Losses
Sep 29 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has issued a bulletin indicating that Australian and New Zealand insurers, who were hit with “catastrophic events” in 2010 and...
California’s Align Financial, Excellere Form Non-standard Auto Insurer
Sep 28 2011 // San Diego, Calif.-based Align Financial Group LLC has partnered with private equity firm Excellere Partners, of Denver, to form Personable Holdings Inc., an independent, non-standard auto insurance provider. Personable...
Independent Agents Worried About Nationwide/Harleysville Deal
Sep 28 2011 // Northeastern independent agents with Harleysville appointments said they are leery about the reported Nationwide/Harleysville deal and have lots of questions. According to a report by Bloomberg last Friday, giant...
Best’s Special Report Sees Mounting Pressure on UK’s P&C Insurers
Sep 28 2011 // A new report from A.M. Best notes that “intense competition and the effect of the weak economic climate on investment returns and loss experience continue to put pressure on U.K. non-life insurers’ financial...
Washington Insurance Commissioner Fines Insurers $1M This Year for Violations
Sep 27 2011 // Insurance Commissioner Mike Kreidler has fined insurance companies nearly $1 million so far this year for violating Washington insurance laws, violations that include charging unapproved rates, improper advertising and...
Lloyd’s Calls for Redrawing Disaster Roles in U.S. for Government, Private Insurers
Sep 27 2011 // Government intervention in the insurance market is putting the financial burden of natural disasters on U.S. taxpayers, according to a report by Lloyd’s of London, the global specialist insurance market. The report,...
Michigan Auto Insurer Pursues ‘Unlawful Taking’ Defense
Sep 26 2011 // An insurance company has persuaded the Michigan Supreme Court to decide whether the insurer must pay the medical bills of a man who was drunk and had no license when he crashed his father’s car into a tree. Farm...
Ryan Specialty Completes Acquisition of Lloyd’s Insurer Jubilee
Sep 26 2011 // Ryan Specialty Group, LLC (RSG) announced that it has completed the acquisition of specialist Lloyd’s insurer Jubilee Group Holdings Limited, “which currently operates two active Syndicates at Lloyd’s, a...
Ryan Specialty Group Completes Acquisition of Specialist Lloyd’s Insurer
Sep 23 2011 // Ryan Specialty Group LLC (RSG), based in Chicago, has completed the acquisition of specialist Lloyd’s insurer Jubilee Group Holdings Limited (Jubilee), the company announced. Jubilee currently operates two active...
Citizens Goes Along with Florida Sinkhole Rate Decision
Sep 23 2011 // Florida officials and the state’s-backed property insurer were working to find common ground in the aftermath of the political firestorm over the insurer’s proposed large hike sinkhole coverage rates, with the...
How Federal Reserve’s Move Hurts Life Insurers
Sep 22 2011 // The Federal Reserve’s latest move to stimulate credit for consumers and businesses, known as Operation Twist, is likely to threaten the earnings of some of the country’s largest insurers for years to come. Wall...
In Wake of Reno Tragedy, Insurers Draw Distinctions Between Air Races and Airshows
Sep 21 2011 // With an 11th fatality declared as a result of the crash at the National Championship Air Races in Reno, Nev. on Friday, one of the world’s largest airshow insurers is anxious to draw a distinction between airshows...
Insurer Group NAMIC Names Illinois Rep. Biggert ‘Legislator of Year’
Sep 21 2011 // The National Association of Mutual Insurance Companies (NAMIC) presented the Federal Legislator of the Year Award to U.S. Rep. Judy Biggert, R-Ill., at its annual convention in Indianapolis. ‘Rep. Biggert is a...
