Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
California Insurance Commissioner Addresses Insurer S&P Downgrade
Aug 11 2011 // California Insurance Commissioner Dave Jones yesterday issued the following statement in regard to the downgrade by Standard & Poor’s (S&P) of the credit rating of certain insurers from AAA to AA+ associated...
Agents Say Insurers Out of Touch with Needs of Small Businesses
Aug 11 2011 // Insurance agents and brokers think that their insurance carriers may be out of touch with what the small business segment needs. For one, carriers have been busy coming out with new products and coverage enhancements for...
ABI Assures UK Business Owners of Insurance Coverage for Riot Losses
Aug 11 2011 // Along with its recap of the applicable provisions of UK law covering damages caused by riots, the Association of British Insurers also issued a special letter to business owners. The ABI expressed its sympathy for those...
Florida Eases Surplus Lines ‘Due Diligence’ Rule for Agents
Aug 10 2011 // Florida insurance agents should have an easier time placing commercial policies with surplus lines carriers under a new law that allows them to offer the coverage without first scouring the admitted market for the...
Sovereign Debt Pressure Spreads to Insurers’ Balance Sheets: A.M. Best
Aug 10 2011 // Continuing economic weakness in Europe and the debt crisis in the United States have elevated the risk profile of U.S. insurers, stirring insurance rating agency A.M. Best to stress test insurers for how they might be...
Hosket & Ulen Join Keystone Insurers Group in Ohio
Aug 9 2011 // Hosket & Ulen Insurance Agency of Dublin became Keystone Insurers Group’s 27th franchise partner in Ohio. The announcement was made jointly by Bill Hosket, the agency’s co-owner, and Keystone Ohio Vice...
What New Car Insurance Rules Mean for New Jersey
Aug 9 2011 // New Jersey proposed a sweeping overhaul last week to its regulations for the personal injury protection component of auto insurance, hoping to curb rising premiums. The changes affect how and what doctors can bill for...
Why Wall Street Likes Reinsurance Business
Aug 9 2011 // Warren Buffett’s entry into the bidding for Transatlantic Holdings is drawing fresh attention to the reinsurance industry, which specializes in writing insurance for insurers in a way that frees up those companies to...
S&P Takes Action on Insurance Groups Following U.S. Sovereign Downgrade
Aug 8 2011 // Standard & Poor’s Ratings Services lowered its long-term sovereign credit rating on the United States of America to ‘AA+’ and assigned a negative outlook on Aug. 5, and as a result the rating agency...
Marine Insurers Add Benin to Risk List after Attacks
Aug 8 2011 // London’s marine insurance market has added Benin to a list of areas deemed high risk due to an escalation of pirate attacks in the area, a senior official said. Pirates attacked two Panamanian-flagged tankers...
Florida Officials Weigh Next Step in Citizens’ Rate Hikes
Aug 8 2011 // While state officials are trying to digest Citizens Property Insurance Corp.’s proposed triple-digit sinkhole rate increase, other elected officials are taking their case to the public. Senator Mike Fasano, R-New...
European Insurers’ Greek Hit Fuels Debt Concerns
Aug 5 2011 // Allianz and Generali followed rivals in aggressively writing down holdings of Greek government bonds on Friday, fuelling investor concerns about the possible impact on insurers of a worsening sovereign debt...
Tennessee Reopens for Business from Captive Insurers
Aug 5 2011 // Applications are now being accepted in Tennessee for firms looking to create captive insurers under the state’s revised law. The Tennessee Department of Commerce and Insurance released a new application form for...
Massachusetts Agents Seek Ballot Measure to Ban Insurers’ Use of Credit Scores
Aug 4 2011 // Massachusetts independent insurance agents who oppose the use of credit scores, occupation and education level in auto insurance pricing by the insurance companies they represent are pushing to put a petition to ban such...
Insurers Prop up European Shares Ahead of ECB News Conference
Aug 4 2011 // European shares held steady on Thursday, as strong earnings from insurers provided ballast and hopes that the European Central Bank could show readiness to buy bonds offset worries about slow economic growth in the...
UK’s ABI Details Increase in Fraudulent Claims – $29 Million per Week
Aug 4 2011 // The Association of British Insurers reports that the UK’s insurance companies are “detecting more fraudulent claims than ever: over 2,500 worth £18 million [$29.446 million] every week.” A number of...
Ark. High Court: Policy Does Not Limit Insurer’s Liability in Uninsured Driver Case
Aug 4 2011 // The Arkansas Supreme Court has denied an insurer’s appeal of a lower court finding that the language of its insurance policy at issue in a case involving an underinsured driver is ambiguous. Philadelphia Indemnity...
Workers’ Compensation Costs Continue to Drop in West Virginia
Aug 3 2011 // West Virginia employers would continue to benefit from lower workers’ compensation rates if the state agrees with an industry filing that loss costs be cut by 8.1 percent. Since the state privatized its...
Insurer Group Taking Hurricane Tour of Texas
Aug 2 2011 // The Insurance Council of Texas (ICT) will take its message of preparing for a hurricane down the Texas coast for its annual media tour in late August. The ICT team will consist of company personnel, insurance agents,...
Insurers Interested in ING European, Asian Units
Aug 2 2011 // ING could get a far bigger pay-out if it ditched a plan to spin-off its Asian and European insurance units as a single stock market-listed business and instead chose buyers from a long list of interested parties. A trade...
