Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Insurers Cover Mississippi County for Misuse of Funds
Jul 1 2011 // A second bond company has reached a settlement in the state auditor’s investigation of former Alcorn County Supervisor Danny Crotts. RLI Insurance Co. has agreed to pay $31,809. The board of supervisors agreed to...
UK’s Legal Expense Insurers Say Referral Fees Cause for Claims Increase
Jun 30 2011 // The UK’s Legal Expenses Insurance Group (LEIG) has taken issue with claims that the rise in lawsuits over automobile accidents are responsible for the car insurance rate rises. The Group, which was formed in April...
Survey: Law Firms Face Rising Number of Malpractice Claims
Jun 30 2011 // The recent economic recession and prolonged real estate market slump are triggering a rise in the number of malpractice or professional liability claims lodged against law firms this year. A new study by insurance broker...
3 New Jersey Insurers Switch to Plymouth Rock Brand Name
Jun 29 2011 // High Point Auto Insurance, Palisades Insurance and Teachers’ Insurance Plan of New Jersey all have a new brand name, Plymouth Rock Assurance. Over the next several months, current High Point, Palisades and...
Insurers Seek Investment Alternatives as Interest Rates, Pricing Lag
Jun 29 2011 // Insurers do not expect interest rates to rise materially in the next year or so, leading them to look for alternatives to improve returns and manage risk, the head of the world’s largest asset manager for insurance...
S&P Reports European Insurers Still ‘Nervous’ Despite Gains
Jun 28 2011 // Standard & Poor’s Ratings Services has issued a report which “discusses why it thinks the European insurance industry seems nervous as it enters the second half of 2011.” The report –...
2 Insurers Refund $1 Million in North Carolina
Jun 28 2011 // North Carolina residents insured by two companies are going to receive refunds totaling more than $1 million after state regulators found they overcharged their personal lines policyholders. SAFECO Insurance Co. of America...
Court Revives Banks’ Suit Against Bond Insurer MBIA
Jun 28 2011 // New York’s highest court Tuesday revived a lawsuit by several large banks challenging bond insurer MBIA Inc.’s 2009 restructuring, which they complained was unfair to policyholders. MBIA shares fell as much as...
Insurers’ Ratings Won’t Be Penalized for Catastrophe Losses: Demotech
Jun 28 2011 // The fact that U.S. property/casualty insurers’ earnings have taken a hit due to recent catastrophe losses should not by itself mean insurer ratings will change, according to one rating firm. As long as the insurers...
Calif. Homeowners Underinsurance Regs Take Effect, Despite Legal Challenges
Jun 28 2011 // A series of new California homeowners regulations aimed at enhancing the standards and training for estimating the replacement value on homeowners’ insurance in the event of a disaster took effect on June 27....
Insurer Investigators Donate $10K to Memorial Fund for Slain Louisiana Investigators
Jun 27 2011 // The nation’s largest association of insurer fraud investigators has contributed $10,000 to a memorial fund honoring two Louisiana investigators who were killed in the line of duty June 7. The board of directors of...
Banks, Insurers Move Closer to Deal on Greek Bailout
Jun 24 2011 // Banks and policymakers moved closer to a deal on Friday to help Athens secure funds ahead of a parliamentary vote on austerity next week that Greek Prime Minister George Papandreou must win to avert default. Despite a...
New York Approves Deregulation of Large Commercial Insurance Products
Jun 24 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...
Brooklyn Auto Body Shop Charged with Inflating Bills to Insurer
Jun 24 2011 // Kings County District Attorney Charles J. Hynes announced has charged Borough Park autobody shop, Perfect Collision, with intentionally damaging cars brought in for repairs, so it could submit inflated bills to insurance...
