Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer Shares Relatively Unaffected by Japan Damage Estimates
Mar 23 2011 // Insurer shares largely shrugged off the industry’s first round of damage estimates from this month’s earthquake in Japan, which may prove to be the world’s costliest disaster. Munich Re and Hannover Re,...
First Community Seeks 23% Florida Homeowners Insurance Rate Hike
Mar 22 2011 // A group of Florida homeowners could see a double-digit increase in their property premiums if regulators go along with their insurer’s rate request. Florida regulators are holding a public hearing today to consider...
Insurer Responds to Lawsuit Over Colo. Bomb Threat
Mar 22 2011 // An insurance company is asking a judge to dismiss a lawsuit filed by an Aspen restaurant seeking compensation for business it lost after a bomb threat on New Year’s Eve 2008. There were widespread evacuations in...
Maryland Weighs Prohibition on Insurers’ Use of Credit Scores
Mar 22 2011 // Maryland lawmakers are weighing whether to prohibit insurers from using credit scores to rate auto policies — a move insurers say is a bad idea. The economic matters committee of the House of Delegates recently held an...
Texas Lawmakers Roll Out Plans to Reform Wind Pool
Mar 21 2011 // Two lawmakers have introduced separate but similar bills aimed at reforming the troubled state-backed wind risk insurer for property along the Texas coast. At a packed hearing on Mar. 15, Texas House of Representaives...
Hot Programs and Products
Mar 21 2011 // Here’s what some insurers and brokers have been up to recently, inventing and tweaking key programs and coverages. Liability: Professional, E&O, D&O, EPLI CNA launched Epack Extra, an enhanced version of...
High-Risk Properties Require Higher Level of Care
Mar 21 2011 // High-risk property is a location that is inherently dangerous due to the nature of its operations or that is exposed to powerful forces of nature such as hurricanes, earthquakes, and floods. Insuring against these...
S&P Says Rating Actions on Japan Insurers Unlikely
Mar 21 2011 // Standard & Poor’s Tokyo office has issued a comment noting that by some estimates the total damages from the March 11 Japanese earthquake and the fires and tsunami that followed “could hit at least $100...
How the California Bill Implements Federal NRRA Surplus Lines Reform
Mar 21 2011 // The Nonadmitted and Reinsurance Reform Act (NRRA), Subtitle B, Part I, Dodd-Frank Wall Street Reform and Consumer Protection Act, reaches out and touches California on July 21, 2011. In anticipation of its effective date,...
Florida Moves on Two Troubled Insurers
Mar 21 2011 // Two Florida insurers are facing regulatory action as the state’s Office of Insurance Regulation (OIR) ordered commercial insurer AequiCap Insurance Co. into liquidation and suspended the license of insurer Seminole...
Florida Lawmakers Aim to Shrink State Insurer Citizens
Mar 21 2011 // Florida lawmakers are looking to cut the state’s largest property insurer down in size. The plan is to reduce the number of properties insured by Citizens Property Insurance Corp. by raising its rates and stopping it...
Missouri Fines Auto Insurer $256K; Orders Changes
Mar 21 2011 // A Chicago-based auto insurance company has paid $256,000 in fines and is required to more quickly process, investigate and pay claims under a settlement reached with the Missouri Department of Insurance. Universal Casualty...
Nebraska: Insurers May Not Collect Fees for Health Insurance Consultants
Mar 21 2011 // Health insurance companies may not collect fees from a new insured on behalf of an insurance consultant if the insurance business is placed by an insurance consultant in Nebraska, according to the Nebraska Department of...
Insurer Ordered to Pay Mother Who Saw Son Die in Motorcycle Crash
Mar 21 2011 // An Ohio insurance company must pay benefits to a Detroit-area woman who witnessed the death of her son on a motorcycle. A Michigan appeals court said Gale Boertmann of Clinton Township can collect on her auto policy...
One Thing Is Not Another: Defining Standards for the Duty to Defend and Indemnify
Mar 21 2011 // After years of maintaining that the duty to defend and the duty to indemnify were independent duties in a liability policy, the Texas Supreme Court held in 1997 that the same allegations used to determine that no duty to...
Arkansas Updates Procedures for Insurance Producer Appointment Renewals
Mar 17 2011 // Arkansas insurance regulators have published updated procedures for insurers to use in renewing producer appointments for 2011. The Arkansas Insurance Department said by renewing a producer or agency appointment, insurance...
EU Regulator: ‘No Major Threat’ to Europe’s Insurers from Japan Crisis
Mar 17 2011 // European insurers face no major threat from the turmoil ensuing from last week’s earthquake and tsunami in Japan, the European Union’s insurance watchdog said on Thursday. “From a European viewpoint, the...
Unrest in Captive Insurance World Benefits the GlobalGreen Agency
Mar 17 2011 // Ray Spears, Jeff Wilson and Charles Donaldson in 2007 established GlobalGreen Insurance Agency as the brand name for the franchise network of independent agencies developed and operated by St. Louis, Mo.-based Equity One...
Lloyd’s Insurer Kiln Enters Liability Market
Mar 17 2011 // Kiln, the international insurance and reinsurance underwriting group, and a subsidiary of the Tokio Marine group, announced that it has launched a new Liability function to underwrite and support general liability...
Best Comments on Rating Impact of Japanese Earthquake/Tsunami
Mar 16 2011 // A.M. Best Co. has issued a bulletin indicating that it does not “expect an immediate rating impact on Japanese non-life insurers and reinsurers due to the March 11, 2011 earthquake in Japan. However, the...
