Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
In Few Years, Social Network Data May Be Used in Underwriting
Oct 13 2011 // The insurance industry is paying increasing attention to what people and businesses post on social networking sites like Facebook, Twitter and LinkedIn. Already, scouring Facebook and other social network pages of the...
2,100 Jobs Lost in Insurance Industry in August
Oct 13 2011 // The latest U.S. jobs data show the insurance industry lost 2,100 jobs overall in August. The industry employs some 2,211,000 workers according to the latest numbers. The Insurance Information Institute reported that most...
2 Life Insurers Meet Systemic Risk Criteria
Oct 13 2011 // Only two life insurers — MetLife Inc.. and Prudential Financial Inc. — meet the newly developed requirements to be considered “systemic” and regulated as such, KBW analysts said Wednesday. The...
Fairfax Financial’s Hedges Shelter Insurer from Financial Crisis
Oct 13 2011 // Toronto-based Fairfax Financial, which raked in billions during the 2008 financial crisis by using market hedges, is once again a go-to stock for shaken investors. Although the company has been criticized by some for its...
New Jersey Workers’ Comp Insurers Seek 6.9% Rate Hike
Oct 12 2011 // The New Jersey Compensation Rating & Inspection Bureau has filed a request with regulators to increase workers’ compensation rates by 6.9 percent effective 2012. “It will be reviewed by the Department of...
FBI Gets Immunity for Wreck of Ferrari in Michigan Insurer Case
Oct 12 2011 // A judge has dismissed a lawsuit against the U.S. government over the wreck of a $750,000 Ferrari driven by an FBI agent, saying federal law grants immunity if property is being held by law enforcement. The wreck of the...
Montana Municipal Insurer Pays $500K to Settle Free Speech Claim
Oct 11 2011 // The city of Great Falls, Montana, has reached a $500,000 settlement with a Vaughn woman who filed a lawsuit after being escorted out of a 2007 City Commission meeting for exceeding a three-minute comment limit. District...
Insurer PURE Adds Midwest States and Wyoming
Oct 11 2011 // Privilege Underwriters Reciprocal Exchange (PURE), a member of the PURE Group of Insurance Companies, announced it is expanding into several new states, including Missouri, Indiana and Wyoming. PURE and the PURE Group of...
Best Affirms OneBeacon Group’s Ratings; Outlook Stable
Oct 11 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of the operating companies comprising Minnesota-based OneBeacon Insurance...
Moody’s: P/C Insurers More Mindful of Inflation Risks
Oct 11 2011 // Until recently, the risk of inflation shocks has not ranked high on the agenda for U.S. property/casualty insurers, Moody’s Investors Service says in a new report, but aggressive monetary policy over the past few...
Best Upgrades Ratings of Sirius America Insurance Company
Oct 11 2011 // A.M. Best Co. has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit rating to “a” from “a-” of New York-based Sirius...
U.S. to Reveal Criteria for Systemic Risk Insurers Today
Oct 11 2011 // U.S. regulators Tuesday are set to give nervous insurance companies, mutual funds and other big players in financial markets a better idea of whether they will be tapped for the same type of additional government scrutiny...
California Gov. Brown Vetoes, Signs Workers’ Comp Bills
Oct 11 2011 // California Gov. Brown on Friday vetoed three bills insurers said would have raised workers’ compensation costs. According to the American Insurance Association (AIA), the vetoed bills “would have unwound a key...
Atlantic City to Bill Insurers for Emergency Calls
Oct 7 2011 // Atlantic City has decided to bill insurance companies for fire department services. The City Council approved the ordinance this week without setting fees. Glassboro implemented such a system in 2005. Fire Chief Ralph...
Texas Insurer in New York Boat Accident Pleads Guilty to Fraud
Oct 7 2011 // A Houston man has pleaded guilty to a charge related to selling fraudulent insurance policies, including one to a company that owned a tour boat which capsized in a New York lake in 2005, killing 20 tourists. Federal...
Auto Insurers’ Loss Ratios Rise in Q2: SNL Insurance
Oct 6 2011 // Tornadoes and thunderstorms in the South and Midwest made the 2011 second quarter tumultuous for U.S. property writers. The industry loss ratio, before consideration of reinsurance, climbed to 70.6 percent, marking the...
Mass. Agents Gathering Signatures for Insurance Credit Score Ban
Oct 6 2011 // A Massachusetts independent agents group said it is confident that banning auto insurers’ use of credit scores and other socioeconomic factors will become a state law in coming months. The Massachusetts Association...
Homeowners Insurer Contributes to Settlement in Wisconsin Polka Suit
Oct 6 2011 // A Chippewa Falls, Wis., polka musician has won a court battle involving his ex-wife and her new husband, who he accuses of stealing one of his most popular tunes. Ray Rubenzer filed a federal copyright infringement lawsuit...
Florida Lawmakers Contemplate the Future of Citizens
Oct 6 2011 // With four months to go before Florida’s legislative session, lawmakers are already considering the future of the state’s largest homeowners’ insurer. However, there are few easy answers in sight. Citizens...
HSBC Approaches Japanese Insurers on Sale of Non-Life Unit
Oct 6 2011 // HSBC Holdings has approached the top three property/casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on...
