Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Home Insurance Rates Rising
Jan 10 2011 // Florida regulators have approved $718 million in rate increases that will affect 4 million policyholders — even though there have been no hurricanes for five years. The insurance industry says the increases are needed...
Liberty Mutual Continues Fight with AIG As Other Insurers Settle
Jan 10 2011 // American International Group has negotiated a $450 million settlement with seven of its competitors in the protracted litigation over its questionable reporting of workers’ compensation premiums. But the long-running...
Texas Insurer Alleges Vendetta by Florida Regulator McCarty
Jan 10 2011 // A Texas insurance company and its owner are suing Florida Insurance Commissioner Kevin McCarty, accusing him of being vindictive and defamatory in his efforts to ban the company from writing workers’ compensation...
Texas-Based Insurer GAINSCO to De-list Its Common Stock
Jan 10 2011 // GAINSCO Inc. (NYSE Amex: GAN), an insurance holding company headquartered in Dallas, has announced it will voluntarily suspend trading of its common stock. The company reports there are fewer than 300 holders of its common...
New York Insurers Applaud Plan to Merge State’s Regulatory Arms
Jan 7 2011 // A key trade group for insurers in New York State applauded a proposal by Gov. Andrew Cuomo to merge the state’s insurance regulatory arm into a single agency overseeing insurance, banking and consumer protection. The...
Bond Insurer Sues Goldman Sachs Over Abacus Deal
Jan 7 2011 // Bond insurer ACA Financial Guaranty Corp. sued Goldman Sachs Group Inc. on Thursday, alleging it was deceived into insuring a transaction designed to fail and for which Goldman ultimately paid a $550 million civil...
Midwest Insurers Austin Mutual and Cooperative Mutual Complete Merger
Jan 7 2011 // Minnesota-based Austin Mutual Insurance Company, a regional property and casualty insurer, announced it has completed its merger with Cooperative Mutual Insurance Co. located in Omaha, Neb. The previously announced merger...
Maine Licenses Two New Insurers
Jan 6 2011 // Maine has licensed two new workers’ comp insurers, one of them a new company that will begin writing this month, the state insurance department said. The first, Great Falls, which will begin offering policies this...
Dukes Named Tennessee VP for Keystone Insurers
Jan 5 2011 // Doug Dukes has been named state vice president of Tennessee for Keystone Insurers Group. Dukes will manage Keystone’s expansion into Tennessee, slated to occur this month. Dukes most recently served as field and...
North Carolina Insurers Seek Rate Hike on Dwelling Fire Policies
Jan 5 2011 // North Carolina insurers are looking to raise rates from 7 percent to 25 percent, or an average 20.9 percent statewide, for 2011 on dwelling fire and extended coverage policies. If approved the higher rates would affect...
Florida Workers’ Compensation Market Remains Competitive: Report
Jan 5 2011 // Florida’s workers’ compensation market remains competitive with more than 250 private insurers writing coverage and only a fraction of business being funneled to the residual market. Also, availability does not...
Year-End Storms Cloud P/C Insurers’ Profit Picture
Jan 5 2011 // U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away...
Insurers To Pay New York $120M for Premium Overcharges
Jan 4 2011 // New York officials say four insurance groups have agreed to pay a total of about $120 million in excess workers’ compensation surcharges to the state. The attorney general’s office says the companies collected...
Mapfre Global Risks Is Lead Insurer for Spanish Satellite
Jan 4 2011 // MAPFRE GLOBAL RISKS is the leading insurer for the Spanish satellite of the communications operator HISPASAT, H1E, which was launched on the 29th of December from the Kourou base in French Guiana. MAPFRE GLOBAL RISKS said...
Top Workers’ Compensation News in 2010
Jan 4 2011 // Soft market conditions with unabated price competition and a slow economy with reduced payrolls continued to affect commercial liens including the the workers’ compensation industry in 2010, as they did in...
P/C Insurers Improve Personal Lines, Investment Results in Q3
Jan 4 2011 // The U.S. property/casualty industry generated improved operating results in the third quarter despite competitive market conditions, elevated catastrophe losses, the economic downturn and historically low investment...
Toyota Says Subrogation By 7 Insurers for Acceleration Claims Is Meritless
Jan 4 2011 // Seven automobile insurance firms have followed Allstate Insurance Co. in suing Toyota Motor Corp. to recover money they paid in claims for car crashes blamed on unintended acceleration of Toyota vehicles. The...
Test Your 2010 Insurance News IQ: 25 Questions
Dec 31 2010 // Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (at bottom of the page– don’t cheat!) were developed based on news stories published by...
Report: Some Insurers ‘Low-Balling’ Auto Insurance Claims for Bodily Injury
Dec 29 2010 // Some insurance companies that use computerized systems to process their claims are making unfair, “low-ball” claims offers to people injured in automobile accidents, according to a consumer advocacy group. The...
Best Affirms Progressive and Subs ‘A+’ Ratings; Outlook Stable
Dec 29 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the Progressive Agency Pool, Progressive Direct Pool and Progressive...
