Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Tennessee Caps Medical Malpractice Damages
Oct 17 2011 // Insurers in Tennessee will payout fewer damages in medical malpractice cases after a new cap on damages took effect earlier this month. The new law also states insurers may no longer be sued under the state’s...
Bermuda Re/Insurers Announce Q3 Cat Loss Estimates
Oct 17 2011 // A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries,...
Medical Liability Insurers in Good Financial Health, Report Says
Oct 17 2011 // Medical professional liability insurance (MPLI) carriers are in a strong financial position overall and the insurers are exhibiting rate discipline in soft market conditions, according to a report by A.M. Best. The past...
Predictive Analytics Being Used to Manage Agencies, Curb Fraud
Oct 17 2011 // Earlier this year, experts at WallStreet & Technology (wallstreetandtech.com) identified predictive analytics and cloud computing as two of six hot technologies that will transform the insurance industry in 2011 and...
D.C. Metro Sues Insurer Lexington Over Lost Revenue
Oct 17 2011 // Washington Metropolitan Area Transit Authority 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...
Auto Insurers’ Loss Ratios Rise in Q2 2011
Oct 17 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...
More Optimism, but Plenty of Controversy Surrounds Mortgage Broker Errors and Omissions Market Segment
Oct 17 2011 // Insurance agents serving the mortgage broker marketplace see some signs of improvement but they aren’t yet jumping for joy. The mortgage brokers error and omissions (E&O) market became severely strained when the...
Nationwide, Harleysville CEOs Say Merger All About Growth
Oct 17 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...
E&O Spotlight: Insuring Commercial Properties? Important Issues to Watch For
Oct 17 2011 // Most agencies write some degree of commercial insurance. There is a good chance that insuring the building is part of the overall program for these commercial exposures. Unfortunately, as demonstrated by the following...
Top 25 P/C Insurers’ Direct Premium Growth Increases 11%, June 30, 2011 Versus June 30, 2010
Oct 17 2011 // Property/casualty insurance companies continued to serve their clients despite the tough economic conditions that have defined the better part of the past decade as well as an increased number of catastrophic events in the...
Florida Lawmakers Contemplate the Future of Citizens
Oct 17 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...
How Hospitals Benefit from Data-Rich Malpractice Insurers
Oct 14 2011 // Hospitals and hospital groups should seek clarity from their malpractice insurers on the loading applied to premiums to account for claims inflation, according to Lloyd’s insurer Beazley. Specialist insurer Beazley...
Florida’s Citizens Approves Rate Hikes Including for Sinkhole Coverage
Oct 14 2011 // Florida residents covered through the state’s largest homeowner insurer will soon pay more for coverage after the insurer ratified a number of rate hikes recently approved by regulators. The Citizens Property...
Best Affirms QBE’s US Subsidiaries Ratings; Upgrades North Pointe
Oct 13 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a+” from “a-” of Harrisburg,...
New Jersey Looks to Put a Lid On Its Auto Insurance ‘Pot of Gold’
Oct 13 2011 // New Jersey’s auto insurance personal injury protection (PIP) regulations are due for an update. The state’s law requires that the Department of Banking and Insurance (DOBI) revisit the rules every two...
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...
