Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Top 25 Carriers’ First Quarter Results Show Soft Market May Have Finally Hit Bottom
Aug 2 2010 // The American psychologist and philosopher William James once said, “Pessimism leads to weakness, optimism to power.” This may be the adage of the Top 25 Property/Casualty companies based upon the dollar amount...
New International Accounting Standard Aims to Clarify Insurers’ Profits
Jul 30 2010 // A global accounting standard setter proposed a new rule for measuring insurers’ profitability on Friday, aiming to shine a light on a sector criticised by investors for being a “black box” that keeps them...
MetLife, Pru Facing Probe Over Soldiers’ Death Benefits
Jul 30 2010 // New York’s attorney general has subpoenaed MetLife Inc. and Prudential Financial Inc. as part of a probe into whether life insurers are defrauding families of deceased military personnel by siphoning off millions of...
Survey: Public Opposes Allowing Policyholder Suits Against Insurers
Jul 29 2010 // A majority of Americans believe that laws allowing people to sue their own auto insurance company for punitive damages, in addition to receiving benefits for their insured claim losses, are not a good idea. New public...
Florida Citizens’ Rate Increases Way Below Actuaries’ Indications
Jul 28 2010 // If insurance actuaries had their way, rates for homeowners insured through Florida’s public insurer Citizens Property Insurance would be going up 55.9 percent on average. But state law caps how much Citizens can...
Texas Court Gives New Life to Contractual Liability Exclusion
Jul 27 2010 // Where contractors are involved, one of the most intractable problems for a carrier in negotiating and settling claims are the contract liability issues. How does a carrier identify if a contractual claim is covered? A...
Report Forecasts Rough Sailing for Canadian Insurers’ Results
Jul 26 2010 // Investors hoping for improved results from Canada’s insurers may want to brace for disappointment, with weak stock markets and lower bond yields seen taking take a bite out of quarterly earnings. Analysts said the...
UK Insurers Hit with over 2,300 Fraudulent Claims Every Week
Jul 26 2010 // The UK’s insurers are detecting more fraudulent insurance claims than ever according to figures released by the Association of British Insurers. The ABI said that insurers had received over 2,000 dishonest insurance...
S&P Comments on Dodd-Frank Act’s Implications for Insurers
Jul 23 2010 // A comment from Standard & Poor’s Ratings Services notes that the Dodd-Frank Wall Street Reform and Consumer Protection Act “seeks to expand regulation to address many aspects of the financial services...
Donegal Ratings ‘Unchanged;’ Michigan under Review Negative Says Best
Jul 22 2010 // A.M. Best Co. has issued two bulletins following the announcement that the Donegal Group has entered into an agreement to acquire all of the outstanding stock of Michigan Insurance Co., a majority-owned stock subsidiary of...
Distressed and Vacant Properties Fill a Void for Insurers
Jul 22 2010 // The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed over the last couple years as the economy has forced the closure of many...
Vermont Sees Growth in Number of Captive Insurers
Jul 22 2010 // Seventeen new captive insurers formed in Vermont through the first half of the year, a rate that puts the state on pace to have one of the best years in its history in terms of new captives. Last year the state saw...
Florida Insurers Need Rate Increases, Says Rating Expert
Jul 21 2010 // Florida’s property/casualty insurers appear to have adequate reinsurance and capital in place to withstand at least two major storms this season but their overall fate could hinge on whether they are allowed to raise...
Keller to Oversee Carrier Relations for Keystone Insurers Group
Jul 21 2010 // Pennsylvania-based Keystone Insurers Group has appointed David C. Keller as vice president for carrier relations. Keller, is a 25-year veteran of the insurance industry, spent the last four years with Harleysville...
President Signs Historic Financial Reform Legislation
Jul 21 2010 // President Barack Obama on Wednesday signed a sweeping overhaul of the financial regulatory system. The “Dodd-Frank Wall Street Reform and Consumer Protection Act,” drafted in response to the recent financial...
Judge Rejects Insurers’ Bid to Nix Probe into Oxendine Donations
Jul 20 2010 // A Fulton County judge tossed an attempt by two insurance companies that sought to block an ethics investigation into contributions to Republican gubernatorial hopeful John Oxendine. Judge Kimberly Esmond Adams said in her...
Second California Insurer Files to Offer Pay-As-You-Drive Coverage
Jul 19 2010 // The Automobile Club of Southern California has submitted an application to the state Department of Insurance to offer an insurance program that rewards California drivers who voluntarily drive fewer miles with lower auto...
New Jersey Supreme Court: Insurer Must Defend in House Guest Overdose
Jul 19 2010 // An insurance company must defend a homeowner who was sued after a woman overdosed on drugs at a house party he held, the New Jersey Supreme Court has ruled. The ruling by Justice Helen E. Hoens reversed an appeals court...
Risk Managers Not Satisfied With U.S. Insurance Providers’ Service
Jul 19 2010 // Corporate risk managers report a serious and growing disconnect between themselves and their insurance brokers and carriers: At a time when U.S. companies are enhancing internal risk management capabilities and elevating...
Contractual Liability Is Just That
Jul 19 2010 // Texas Court: Exclusion Precludes Coverage for Breach of Contract Where contractors are involved, one of the most intractable problems for a carrier in negotiating and settling claims are the contract liability issues. How...
