Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
What Does Insurance Industry Contribute to California’s Economy?
Jul 15 2011 // The overall insurance industry accounts for more than 234,000 jobs in California with a payroll of $16.8 billion, a new report finds. Also, property/casualty insurers paid a total of $50.2 billion in claims and expenses in...
Insurers Seek Separation from Banks for Systemic Risk Regulation
Jul 14 2011 // U.S. insurance company trade groups have sent a letter to President Obama requesting his assistance with G20 leaders in efforts to de-link insurers from the timelines for identification of globally systemically important...
UK’s ABI Launches Insurance Fraud Database
Jul 13 2011 // The Association of British Insurers has underlined its members’ determination to actively pursue the fraudsters and cheaters who cost the UK’s insurers £2 billion [$3.22 billion] a year in fraudulent claims,...
Insurer Wants to Sign 100 Agents in 100 Days
Jul 13 2011 // A commercial lines insurer is on a mission to sign a number of independent agents— as many as 100 of them —within the next 100 days. From July 12 through October 12, South Carolina-based Accident Insurance Co. (AIC)...
House Approves Flood Insurance Program Renewal, Reforms
Jul 13 2011 // The House of Representatives has approved a bipartisan bill to reauthorize the federal flood insurance program for five years and change some of its practices to improve its financial operations. The measure to renew and...
Texas Enforcements for May Include Nearly $218K in Fines, Restitution
Jul 12 2011 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during May 2011 include six license revocations, two license denials and fines and restitution totaling $217,756. An order imposing...
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...
