Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Court Sides with Florida Regulator Over Texas Insurer
Feb 7 2011 // A Texas-based workers’ compensation insurer has lost its appeal of rulings by the Florida insurance commissioner that have blocked it from doing business in the state. On Jan 20, without explanation, a three-judge...
South Carolina Court: Insurer Not Liable for Poor Construction
Feb 7 2011 // The South Carolina Supreme Court has ruled that insurers are not liable for damages caused by faulty workmanship under a contractor’s commercial general liability policy. The high court found that a builder’s...
As Small Business Shrinks, Small P/C Insurers Lose
Feb 7 2011 // The property/casualty small business sector – those accounts with less than 50 employees – has shrunk substantially since 2007, and there has been a dramatic shift in market share among small, mid-sized and...
Issues to Consider When Placing Professional Liability
Feb 7 2011 // When placing coverage for your clients, with a fair degree of frequency your agency will need to look at placing professional liability — a/k/a errors and omissions — coverage for those risks. Typically, when thinking...
Lemons Into Lemonade:
Feb 7 2011 // Making the Best of the Medical Loss Ratio Squeeze January 1, 2011 marked the beginning of a significant transformation for the nation’s insurance brokers Ð one that, frankly, didn’t inspire celebration....
My New Market
Feb 7 2011 // Chubb Masterpiece Market Detail: Agents Access offers personal lines coverage including home, auto, valuable articles and excess. Chubb offers solutions designed exclusively for people with above-average needs, who need...
P/C Insurers Like Some of Obama’s Plans
Feb 7 2011 // Property/casualty insurers found things to like in President Obama’s State of the Union speech that was largely focused on the economy and business. Medical malpractice reform, regulatory review, and trade agreements...
Reasons to Look Beyond Price in 2011
Feb 7 2011 // Just weeks into the New Year, the experts’ predictions appear to be “more of the same” for at least the first half of 2011: super soft pricing combined with increased availability of limits and coverage....
North Carolina Auto Insurers: No Rate Change Necessary
Feb 4 2011 // North Carolina Insurance Commissioner Wayne Goodwin announced good news for drivers in the state after the North Carolina Rate Bureau submitted its latest rate filing calling for no change in passenger car and motorcycle...
Insurers Laud New Jersey Fraud-Fighting Legislation
Feb 3 2011 // The Property Casualty Insurers Association of America (PCI) says it wants New Jersey lawmakers to adopt legislations that would enhance fraud-fighting efforts. The insurers’ trade group, which testified today in...
Willis, Atlas Set-up Malta-based Insurer to Underwrite UK Auto Liability
Feb 3 2011 // The Global Captive Practice of Willis Group Holdings and Atlas Insurance PCC (Protected Cell Company), which is based on the Island of Malta, jointly announced the establishment of a new insurance structure to cover the...
Predictive Modeling Improving Insurers’ Bottom Lines, Market Share
Feb 2 2011 // Property/casualty insurance carriers currently utilizing predictive modeling continue to see their bottom lines improve and almost 4 out of 10 say it has helped them increase market share. For this and other reasons,...
Best Withdraws Ratings of Various QBE U.S. Subsidiaries Following Reorganization
Feb 2 2011 // A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Blue Ridge Insurance Company (BRIC) (Sun Prairie, WI), United Security...
New York Court Dismisses Bond Insurer MBIA’s Suit Against Merrill
Feb 2 2011 // A New York state appeals court Tuesday dismissed a lawsuit in which bond insurer MBIA Inc. accused Merrill Lynch & Co. of fraudulently misleading it into providing insurance on $5.7 billion of risky debt. The ruling is...
State Farm Florida Seeks 28% Home Insurance Rate Hike
Feb 1 2011 // State Farm of Florida is requesting a statewide average 27.7 percent homeowners insurance rate increase citing the rising costs of sinkhole claims. The request comes as Florida lawmakers are trying to broker a deal over...
AIG Completes Sale of Japanese Life Insurance Companies to Prudential
Feb 1 2011 // American International Group, Inc. (AIG) reported it has closed the sale of its Japan-based life insurance subsidiaries, AIG Star Life Insurance Co. Ltd. and AIG Edison Life Insurance Co., to Prudential Financial Inc. for...
Suez Shipping Operating Normally Despite Egypt Unrest: Marine Insurers
Jan 31 2011 // No direct threat to ships passing through the strategic Suez Canal waterway exists at the moment, despite unrest in Egypt, a senior official with London’s marine insurance market said on Monday. “We are not...
Missouri Insurance Department Returns $10M to Consumers
Jan 31 2011 // Enforcement by the Missouri Department of Insurance resulted in consumers receiving $10.5 million from their insurance companies in 2010, the DOI reported. The money was returned through the department’s mediation...
S&P Japan Ratings Downgrade Hits Insurers
Jan 28 2011 // Yesterday Standard & Poor’s Ratings Services announced that it had lowered its sovereign rating on Japan to ‘AA-‘ from ‘AA’. The rating agency followed up that action by announcing that it...
P/C Insurers Like Some of Obama’s State of Union Promises
Jan 27 2011 // Property/casualty insurers found things to like in President Obama’s State of the Union speech that was largely focused on the economy and business. Medical malpractice reform, regulatory review, and trade...
