Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Zurich Completes Acquisition of Lebanese Insurer
Dec 2 2010 // Zurich Financial Services Group announced today that its subsidiary, Zurich Insurance Company Ltd, has completed the acquisition of 99.99 percent of Compagnie Libanaise D’Assurances SAL, a privately owned Lebanese...
Insurer Sues Apple Over Connecticut House Fire
Dec 2 2010 // Great Northern Insurance is suing electronics firm Apple, claiming that a faulty laptop charger for one of its computers triggered a massive house fire in Central Connecticut. The lawsuit, filed in federal court in...
Insurer Group Says Louisiana Property Market Shows Signs of Strength
Dec 1 2010 // The number of Louisiana property insurance consumers who benefit from the lower rates offered by private insurers is growing as the state’s Citizens Property Insurance Corp.’s (Citizens) depopulation program...
E&O Insights: Nothing Standard About Professional Liability
Dec 1 2010 // Typically, when looking to move an account from one carrier to another, you can count on some degree of similarity in policy forms. For the most part, a general liability policy with one standard company will look similar...
Insurer Wants Ex-Judge Off Mississippi Lawyer Case
Nov 30 2010 // An insurance company wants former Mississippi Supreme Court Justice Oliver Diaz kicked off a lawsuit involving imprisoned former attorney Paul Minor. Minor, meanwhile, also thinks the federal judge in the case should step...
Best Affirms ‘A’ Ratings of NIPPONKOA Insurance Company
Nov 30 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Japan’s NIPPONKOA Insurance Company Ltd, both with stable outlooks. “The...
DIMA Clarifies S&P Ratings Bulletin on Ireland Debt, Re/insurers
Nov 30 2010 // Dublin International Insurance & Management Association (DIMA), the representative body for the international re/insurance industry in Ireland, announced that it has “been in contact with rating agency Standard...
Best Assigns ‘A’ Ratings to Aspen American Insurance Company
Nov 30 2010 // A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating of “a” to Dallas-based Aspen American Insurance Company (AAIC), a wholly owned subsidiary of its...
Washington Regulator Wants to Review Health Insurer Surpluses
Nov 30 2010 // Washington Insurance Commissioner Mike Kreidler is asking state lawmakers to preserve his authority to scrutinize health insurance rates, boost transparency, and to let him — for the first time — consider some...
Canada Revenue Agency Confirms Barbados Insurers Exempt Status
Nov 29 2010 // The Canada Revenue Authority (CRA) confirmed that Barbados insurance companies including Exempt Insurance Companies (EIC) and Qualifying Insurance Companies (QIC) are “liable to tax” under paragraph IV (1) of...
Texas to Insurers and Agents: Don’t Misrepresent Insurance Coverage
Nov 29 2010 // The Texas Department of Insurance issued a bulletin reminding insurance companies and agents that misrepresentation of insurance policies by failing to state a necessary material fact, or by making a statement in a manner...
Swiss Re: Investment Managers Face ‘New, Challenging Environment’
Nov 23 2010 // Swiss Re’s latest sigma study, #5/2010, – “Insurance investment in a challenging global environment” – warns that a “low yield environment coupled with tighter regulatory standards could...
Moody’s: P/C Insurers’ Losses Under Municipal Bonds Manageable
Nov 22 2010 // U.S. property/casualty insurers are not likely to sustain substantial losses on municipal bonds, Moody’s Investors Service says in a new report. While muni bonds make up a high 27 percent of P/C insurers’...
Wyoming Insurers That Provide Fraud Tips Shielded From Lawsuits
Nov 22 2010 // Wyoming’s Joint Corporations, Elections and Political Subdivisions Interim Committee has endorsed a draft fraud bill that would protect insurers from civil liability for furnishing information relating to insurance...
Calif. Court Rules Federal Proceedings Equivalent to CGL-Covered Lawsuit
Nov 22 2010 // The California Supreme Court has ruled that the term “suit” in a comprehensive general liability policy includes federal administrative adjudicative proceedings before an administrative law judge of the U.S....
Health Insurance Brokers May Ask Congress to Protect Commissions
Nov 22 2010 // As insurance brokers feared, the Obama Administration has not exempted broker commissions from the formula for the medical loss ratio that health insurers must adhere to beginning in 2011. Brokers say they may ask Congress...
Health Insurers Win Some Breaks with Medical Loss Ratio Rule
Nov 22 2010 // New U.S. health insurance spending rules aimed at ensuring more customer dollars go toward medical care were finalized on Monday, ending a source of uncertainty for investors in the sector. Although the limits are mandated...
Best Upgrades Ratings of Zurich’s U.S. Subsidiaries to ‘A+’
Nov 19 2010 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and issuer credit ratings (ICR) to “aa-” from “a+” of the U.S....
Calif. Commissioner Rejects Increase in Workers’ Comp Cost Benchmark
Nov 19 2010 // California Insurance Commissioner Steve Poizner has rejected – for the third consecutive time – a workers’ comp rate filing submitted on behalf of insurers by the Workers’ Compensation Insurance...
EU to Give Insurance Industry More Time to Prepare for Solvency II
Nov 18 2010 // European Union regulators look set to bow to insurance industry demands for more time to adjust to new solvency rules, with the head of the EU’s insurance watchdog acknowledging that some of the measures would have...
