Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Cigelnik Joins Insurer Trade Group PCI
Jul 12 2011 // The trade group Property Casualty Insurers Association of America (PCI) has hired Randi Cigelnik as its new senior vice president, corporate secretary and general counsel effective Aug. 1. Most recently, Cigelnik served as...
Don’t Kill Flood Insurance Program, Insurers Tell Congress
Jul 12 2011 // Closing the federal flood insurance program would put millions of homeowners at risk and cost taxpayers billions of dollars, insurers are warning after a Republican lawmaker filed legislation to eliminate the federal...
Missouri Regulators Urge Insurers to Extend Flood Coverage
Jul 11 2011 // Missouri regulators are asking insurance companies to go beyond normal procedures to cover furniture, electronics and other belongings that must be moved because of flooding. The state insurance department says policies...
Insurer Questions Coverage for Jilted Football Player’s Engagement Ring
Jul 11 2011 // A jilted professional football player has filed a lawsuit to compel the safe return of the $76,000 engagement ring he offered in a marriage proposal-by-mail. An insurance company investigation determined the bauble was in...
Federal Court Upholds Umbrella Insurer in Asbestos Coverage Dispute
Jul 11 2011 // A federal appeals court has agreed that Continental Insurance Co. did not have a duty to defend asbestos injury claims against the automotive supplier Federal–Mogul Corp. as its umbrella carrier because the primary...
California Court Expands Policyholders’ Right to Sue Insurers
Jul 7 2011 // An uptick in consumer protection lawsuits against California insurance companies is widely expected in the wake of a state appellate decision allowing a policyholder to sue The Progressive Group of Insurance Companies over...
P/C Insurers Can Handle Muni Bond Stress: Moody’s
Jul 7 2011 // The U.S. property/casualty insurance industry, which has about 60 percent of its equity capital base or — $355 billion– in municipal bonds remains exposed to disruptions in this asset class, but the overall...
California Bill Regulating Health Insurance Rates Passes Committee
Jul 7 2011 // A California bill that would allow state officials to reject rate increases proposed by health insurers has passed a key committee vote. The Senate Health Committee approved the measure in a 5-3 vote. The bill, AB52, now...
Reinsurance Prices Flat Except in Catastrophe Regions: Aon
Jul 7 2011 // First quarter catastrophes didn’t halt decreases in most U.S. reinsurance renewal programs, except in regions hard hit by significant catastrophe events, according to a report by a leading reinsurance intermediary....
Insurance Company Gives Money to Omaha Hospitals
Jul 6 2011 // Blue Cross and Blue Shield of Nebraska is providing money for two Omaha hospitals to improve patient outcomes after surgery. The insurance company has paid $35,000 each to Creighton University Medical Center and Methodist...
Insurers Could Pay $2B for Joplin Tornado
Jul 5 2011 // Insurance companies already have paid out more than $500 million in claims for the May 22 tornado that struck Joplin, Mo. But the final total could grow to three or four times that amount. The state insurance department...
The Game Changer: What the LexisNexis Insurance Exchange Means for the Industry, Technology Partners
Jul 4 2011 // Technology providers to the insurance industry have good things to say about a new system that allows property/casualty agents, brokers and carriers to collaborate on commercial lines accounts. The new system, the...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Jury Finds for Insurer in $22M Suit Over Hail Damage Claims
Jul 4 2011 // A jury in Houston, Texas, has found in favor of a property insurer in a lawsuit brought by a townhouse homeowners association over roof hail damage to 22 buildings. Summer Hill Village Community Association sued Colony...
Surplus Lines Sea Change: Calif.’s AB 315
Jul 4 2011 // California is expected to pass surplus lines regulations before July 21, 2011. On that date, the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) becomes effective, and only the “insured’s home...
New York Deregulates Large Commercial Lines
Jul 4 2011 // New York insurers and insurance agents are applauding lawmakers for giving final approval to a bill that eases regulations on commercial insurance products and rates. The bill exempts insurance policies written for large...
Florida Officials Fret Over Home Insurance Assessments
Jul 4 2011 // Two weeks into a new hurricane season, Florida officials are continuing to express their concerns over possible policyholder assessments by Citizens Property Insurance despite the relative financial strength of the...
Demotech Inc. Identifies 2011 Near National Property/Casualty Insurers
Jul 4 2011 // The original criteria and objective definition for Near National insurance carriers was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one...
Survey Shows Europe’s Top 10 P&C Insurers Grew Premiums by 5.2% in 2010
Jul 1 2011 // Spain’s MAPFRE has published its 7th annual survey of Europe’s non-life insurers, ranking them by gross premiums written. The survey found that “all the companies achieved an increase in premium revenues...
Hawaii Regulator Orders Homeowners Insurers to File New Rates
Jul 1 2011 // Hawaii Insurance Commissioner Gordon I. Ito has ordered all homeowner insurers to submit new rate filings after a Insurance Division review found that rates were “excessive” when compared to National...
