Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
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...
