Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Hears First Community’s Home Rates; OKs Dwelling Increase
Mar 27 2011 // Florida regulators held a public hearing last week to consider the First Community Insurance Co.’s request to raise its homeowner rates a statewide average by 23.3 percent. The company said there are two driving...
California Insurer Association Names New Board Leadership
Mar 25 2011 // Members of the Association of California Insurance Companies (ACIC) nominated and appointed a new chair, vice chair, and board of directors to serve for a two-year term. Kathleen Bissell, assistant vice president of...
Rhode Island Ponders Forcing Insurers to Buy Driving Records
Mar 25 2011 // Budget-strapped Rhode Island is considering a new way to raise money: Force insurers to buy official driving reports from the state, at $20 a driver. The move — part of a budget amendment that would alter laws...
S&P: Outlook Negative on 9 Japanese P/C Insurers; Ratings Affirmed
Mar 25 2011 // Standard & Poor’s Ratings Services has conducted a detailed analysis of 15 Japanese P/C insurers, and has made several adjustments in its ratings following the earthquake and tsunami, which hit the country on...
Worldwide Facilities Introduces New Carrier for Life Sciences Risks
Mar 24 2011 // Worldwide Facilities, Inc. has introduced a new cover for life science innovators. The coverage provides protection for life sciences risks and can be tailored to protect companies ranging from those in the pre-clinical...
U.S. P/C Insurers’ Results for 2010 Get ‘Mixed Review’ from A.M. Best
Mar 24 2011 // The U.S. property/casualty insurance industry’s financial results for 2010 represented a mixed bag, with some good results and some that are of concern, according to a leading rating organization. A.M. Best Co....
Florida’s Homewise, First Home Insurance Companies to Merge
Mar 24 2011 // Two of Florida’s domestic insurance companies have announced that they plan to merge. Homewise Insurance Co. and First Home Insurance Co. are planning to merge sometime in the second quarter pending regulatory...
Florida Homeowners Insurers Seek ‘Flex-Rating’ Up to 15%
Mar 24 2011 // Florida lawmakers are considering giving homeowners insurers more flexibility to raise rates. The Florida Senate and Banking Insurance Committee recently approved a bill that would give homeowners insurers some latitude,...
UK Insurers Support Corporate Tax Reduction; Budget for Growth
Mar 24 2011 // The UK government’s recently proposed budget contain a number of measures aimed at helping UK firms to increase their business, and to make them more competitive. As the UK’s insurance industry is one of the...
Commentary: Pending State Legislation to Implement NRRA is Fly in the Ointment
Mar 23 2011 // Pending state legislative proposals, such as California’s AB 315, that would implement the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) are akin to the fly in the ointment. The NRRA becomes effective on July...
Insurers, Brokers Settle Spitzer-Era Bid-Rigging Case for $37 Million
Mar 23 2011 // Lawyers for a majority of the 15 insurance company and broker defendants in a long-running suit accusing them of bid-rigging are scheduled to be in court today outlining a proposed settlement that will cost them about...
Colorado Bill Restricting Homeowners Insurance Cancellations Defeated
Mar 23 2011 // The Colorado House Economic and Business Development Committee has voted 9-4 to defeat a bill that homeowner’s insurance carriers say would have restricted their underwriting freedoms and their ability to provide...
Florida Lawmakers Take Two-Pronged Approach to Insurance Reform
Mar 23 2011 // Tort reform and fraud have become the two big targets as Florida lawmakers are finally gearing up to tackle the state’s no-fault auto insurance law. Taking a divide and conquer approach, the House Insurance and...
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...
