Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Officials, Insurers Begin Tallying Damages from Deadly Storm
Apr 29 2011 // Officials in Southeast states hammered by a storm that killed at least 300 people have begun the task of evaluating the damage. Alabama appears to have suffered the brunt of the storm, where Tornadoes struck particularly...
Florida Insurer Closing its Doors
Apr 29 2011 // A Florida insurance company is on its way to closing its door as it informed agents it is going to start dropping policyholders when their policies are up for renewal. Argus Fire & Casualty, a subsidiary of the Miami...
Best Affirms AEGON USA Group’s Ratings
Apr 28 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the life/health subsidiaries of Netherlands-based AEGON N.V.’s...
Major Florida PIP Reform Effort Dies in Committee
Apr 27 2011 // The industry’s push for comprehensive reforms to Florida’s no-fault personal injury protection (PIP) insurance law came to an abrupt end in Florida after a House committee by a single vote margin rejected a...
Strate Insurance Becomes Keystone Insurer Partner in Tennessee
Apr 27 2011 // Strate Insurance Group Inc. of Morristown has become Keystone Insurers Group’s sixth franchise partner in Tennessee. Strate Insurance Group President Tom Strate and Keystone Tennessee Vice President Doug Dukes...
Five Japan Life Insurers Eye Unhedged Foreign Bonds; See Weaker Yen
Apr 27 2011 // Five Japanese life insurers say they may buy more unhedged foreign bonds, believing that the yen is likely to weaken and that the currency risks are low enough for them not to take on higher hedging costs, a stance that...
Health Insurers’ Claims Cost Continues to Rise
Apr 26 2011 // The cost of claims in employer-sponsored health plans continues to increase, although the rate is slightly lower than six months ago. A new trend survey by Wells Fargo Insurance Services projects that overall claim cost...
Insurers Receive Hundreds of Tornado Claims in Virginia
Apr 25 2011 // Property owners in Virginia have submitted hundreds of claims to insurers for damage caused by recent tornadoes. The Virginian-Pilot reports that State Farm Mutual Automobile Insurance Co. received about 400 claims by...
Northeast Insurers Say Winter Storms Hurt Q1 Profits
Apr 22 2011 // Pennsylvania-based insurer Harleysville said severe winter storms over the last few months will hurt its first quarter profits. “We experienced unusually severe winter weather throughout much of the Mid-Atlantic and...
Top 10 U.S. Excess/Surplus Insurers
Apr 22 2011 // Top 10 U.S. Excess, Surplus Insurers of 2010 by Market Share According to SNL Financial: American International Group Zurich Financial Services Ltd. Nationwide Mutual Group ACE Ltd. W.R. Berkley Corp. Markel Corp. CNA...
Florida Jury Hits Insolvent Insurer’s Owners with $76 Million Verdict
Apr 21 2011 // The former owners of Aries Insurance Co. are on the hook for millions after a Miami-Dade District Court found them guilty of diverting funds for personal use. Florida CFO Jeff Atwater said that a Miami-Dade Circuit Court...
New York Increases Requirements for Excess Line Insurers
Apr 21 2011 // A new regulation that goes into effect in New York this month will force excess line insurers to triple their minimum policyholders surplus to $45 million by the middle of 2013. For eligible excess line insurers already in...
The Hanover to Pay $510M for UK Insurer Chaucer
Apr 20 2011 // A half-billion dollar deal that would make Lloyd’s insurer Chaucer part of Massachusetts-based The Hanover appears all but done. Terms of the transaction, announced this morning, involve a cash-for-stock swap valued...
Calif. Workers’ Comp Insurers’ Net Worth Declining
Apr 20 2011 // California workers’ compensation insurer returns continue to dwindle, with recent National Association of Insurance Commissioners (NAIC) data showing their return on net worth falling from 7 percent in 2008 to 4.6...
Missouri Insurers Say 15,000 Cars Stolen in 2010
Apr 20 2011 // An insurance group says car thieves in Missouri targeted the Ford Taurus more than any other car in 2010. Citing numbers from the Missouri State Highway Patrol, the Missouri Insurance Information Service says more than...
How P/C Insurance Industry Fared Financially in 2010
Apr 20 2011 // U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5...
P/C Insurers Keeping an Eye on Congress
Apr 20 2011 // While lobbyists see few direct threats to the property/casualty insurance industry in the current Congress, P/C insurers have been advised to remain vigilant because several issues that could have a spillover effect on...
Fitch Affirms ACE Limited’s and Subs Ratings; Outlook Stable
Apr 20 2011 // Fitch Ratings has affirmed the ratings of ACE Limited and its subsidiaries (collectively, ACE), and has assigned an ‘AA-‘ Insurer Financial Strength rating (IFS) to Agri General Insurance Company (AGIC). Fitch...
Lloyd’s Insurer Chaucer Endorses The Hanover’s Takeover Bid
Apr 20 2011 // Lloyd’s insurer Chaucer plc has issued a statement endorsing the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Chaucer by 440 Tessera Limited (BidCo), a...
Missouri Insurance Dept. Returns More than $2M to Consumers in Q1 2011
Apr 19 2011 // The Missouri Department of Insurance reported it has helped consumers to retrieve $2.4 million from their insurance companies so far in 2011. The insurers returned the money to consumers after the department mediated...
