Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Haigood to Head Texas Fire and Casualty Insurer Association
Dec 5 2011 // Lyndell Haigood, regional vice president of State Auto Insurance Co., has been elected president of the Association of Fire and Casualty Companies in Texas (AFACT). Haigood was elected during AFACT’s annual meeting...
Sen. Schumer Says Flood Insurers Are Too Slow in Processing Claims
Dec 5 2011 // U.S. Senator Charles Schumer (D-N.Y.) is calling on flood insurance companies to speed up their processing of insurance claims from tropical storms Irene and Lee to ensure that FEMA aid reaches flood-damaged communities...
U.S. P/C Insurers’ Catastrophe Losses Top $38 Billion
Dec 5 2011 // Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best...
Insurers Bracing for Thai Flood Claims at More Than $10B
Dec 5 2011 // Insurers are bracing themselves for claims in excess of $10 billion after floods in Thailand disabled major foreign-owned manufacturing operations there, adding to an already record-breaking natural catastrophe bill this...
Insurer Pays in Florida Rental Car Crash
Dec 5 2011 // A rental car customer’s insurer must cover crash injuries, even though an unauthorized driver was behind the wheel. That’s what the Florida Supreme Court decided in a 5-2 opinion recently. The majority ruled in...
Insurers Finally Get Right to Jury Trial in New Jersey
Dec 5 2011 // Forty years ago the New Jersey Supreme Court in Rova Farms Resort, Inc. v. Investors Ins. Co. of America, 65 N.J. 474, 323 A.2d 495 (1974), recognized a cause of action against an insurance company in situations where the...
P/C Insurers’ Q3 Earnings Declined 70% From One Year Ago: Moody’s
Dec 5 2011 // Property/casualty insurance companies saw their income plummeting significantly in the latest earnings season. Moody’s Investors Service says a group of 23 publicly traded P/C insurers it rates had a whopping 70...
How to Reduce the Risk When Buying Agency E&O Coverage
Dec 5 2011 // Agents shopping for errors and omissions coverage should compare the details of the policies because not all E&O policies are the same, according to experts in this market. As Scott Goodreau, chief risk officer for...
Insurance Company Poll: Oregon Drivers Want Harsher Cell Phone Penalties
Dec 5 2011 // According to a poll from PEMCO Insurance, nearly half of Portland-area drivers are upset enough at the prospect of sharing the road with distracted drivers that they believe lawmakers should treat those caught talking,...
How to Attract Carrier Attention for Program Business
Dec 5 2011 // Agents who use an organized, straightforward method when submitting program business to market will benefit by gaining faster response times from carriers and the potential to create new programs. Kenneth Robinette, of...
Architects & Engineer Class Held Hostage by Price Cutting, Overcrowding
Dec 5 2011 // Even with historically low rates, tough competition, and a reduction in business, the architects and engineers professional liability class is still very highly sought after, with new players jumping in regularly. Some...
ACE Completes $107M Acquisition of Agribusiness Insurer Penn Millers
Dec 1 2011 // ACE Limited announced on Wednesday that it has completed its acquisition of Penn Millers Holding Corp. for approximately $107 million in cash. The two companies first announced the deal in September. Penn Millers...
Florida’s Citizens Suggest Steps to Reduce Its Exposure
Dec 1 2011 // Florida’s largest property insurer wants to roll back coverage on high-value homes and lower its coverage limits on homeowners’ liability, as part of a broader plan to reduce its exposure in the state. Florida...
Can Claims Handling Cause an Errors & Omissions Claim?
Dec 1 2011 // The answer to the question posed in the headline is a definite “yes.” This has actually developed into a significant issue for agents and is one of the current errors and omissions (E&O) hotspots agents...
How to Produce and Keep Happy Claimants
Dec 1 2011 // The best way to keep agency customers happy is to avoid claims in the first place but, of course, that’s easier said than done. When claims do happen, independent agents can play a valuable role in determining...
Most Health Insurers Meet Controversial Medical Loss Ratio
Dec 1 2011 // Most U.S. health insurers last year would have satisfied the much-disputed spending rules under President Barack Obama’s healthcare reform, according to a new report by a congressional watchdog agency. The rules...
Insurers Pay Out $1.13B for Joplin, Missouri Tornado Damage
Nov 30 2011 // Insurance companies have paid out $1.13 billion in claims from the Joplin tornado, and that’s expected to climb to as much as $1.9 billion, the state’s insurance department director said. An estimated 7,500...
Feds Reject Indiana Request for Health Care Waiver
Nov 30 2011 // The U.S. Department of Health and Human Services has rejected Indiana’s bid for an exemption from federal health care overhaul rules that require insurers selling policies to individuals to essentially dedicate 80...
Florida’s HomeWise Insurance Ordered Into Liquidation
Nov 30 2011 // A Florida judge has ordered a homeowners’ insurer to shut its doors and hand its business affairs over to the state after state regulators found it no longer has enough money to pay its bills. Florida’s...
Foreign Insurers Must Decide If China’s Growth Outweighs Disadvantages
Nov 30 2011 // Foreign insurers will have to answer for themselves whether their disadvantaged position relative to domestic insurers in China is outweighed by the country’s very substantial overall market growth, according to...
