Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Case Could Hold Private Firms, Insurers Liable for Foster Kids’ Injuries
May 26 2010 // A few months after a 10-year-old child was placed with eight other children in a Tampa foster home overseen by a single mom, a 13-year-old boy sneaked into his room and raped him in 2005. But Hillsborough Kids Inc., a...
Insurers Paid $768 Million in Losses from 2009 Colorado Windstorm
May 25 2010 // An insurance organization says a windstorm that brought two weak tornadoes, rain and hail to the western Denver suburbs last July caused $768 million in insured losses to vehicles and homes. The Rocky Mountain Insurance...
MGAs Called Critical to Florida’s Property Insurance Market
May 25 2010 // Several of Florida’s insurers with affiliated managing general agencies (MGAs) have come in for criticism recently but there is no widespread problem with the MGA model, regulators and insurance industry executives...
Insurers Gain Access to Detailed UK Ordnance Survey Maps
May 25 2010 // “Ordnance Survey (OS) data is now publicly available for free, giving insurers access to crucial information to aid risk assessment,” states a bulletin on the Lloyd’s web site (www.lloyds.com). Making the...
Former Vice President at Rhode Island Insurer Acquitted
May 24 2010 // A former executive at Rhode Island’s dominant workers’ compensation insurer was acquitted Friday on a charge that he deceived state regulators about companies that were receiving discounted premiums. Superior...
Best Upgrades AXA Insurance Ratings to ‘A’; Outlook Stable
May 24 2010 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of New York-based AXA...
Best Affirms Selective Group’s ‘A+’ Ratings; Outlook Negative
May 21 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Selective Insurance Group and its seven P/C pooling members. Best also...
Lack of Demand for Innovation Helps Insurers Avoid Systemic Risk: Report
May 21 2010 // The 2008 financial failure and system breakdown of American International Group Financial Products did not contribute to broader systemic effects within the insurance industry, according to a new financial services think...
Commercial Market to Remain Stable, Challenging for Risk Managers: Marsh
May 20 2010 // Despite the global economic crisis, the commercial insurance market is poised to remain stable through 2010, but new challenges are emerging for risk managers, according to a report issued by insurance broker Marsh. The...
Best Affirms EMC Group’s ‘A-‘ Ratings; Revises Outlook to Positive
May 19 2010 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of EMC Insurance Companies...
16 Florida Workers’ Compensation Insurers to Return $9.4 Million
May 19 2010 // Florida Insurance Commissioner Kevin McCarty has ordered 16 workers compensation insurance companies to return more than $9.4 million in excessive profits to their policyholders. Under state law, workers compensation...
Florida Leaders See Omnibus Bill Stabilizing Home Insurance Market
May 18 2010 // Florida insurance leaders belive that recently passed legislation (SB2044) is a step towards stabilizing the state’s property insurance market that has had been rocked by politics, premiums assessments, company...
Property Insurers Watching Ominous Hurricane Forecasts
May 17 2010 // After significant catastrophe losses in first quarter 2010, U.S. property/casualty insurers and global reinsurers are hoping their balance sheets don’t face further financial risks, even as conditions appear ripe for...
Calif. Agent, Insurer Groups Discuss Homeowners Replacement Cost Regs
May 17 2010 // To alleviate concerns about homeowner under-insurance, the California Department of Insurance has proposed regulations governing standards and training for estimating replacement value on homeowners’ insurance. CDI...
Insurer Won’t Pay Legal Costs in Pennsylvania Webcam Spying
May 17 2010 // An insurance company is balking at paying legal costs for a suburban Philadelphia school district accused of spying on students through laptop webcams. Meanwhile, a lawyer for a student suing the Lower Merion School...
North Carolina Weighs Storm Mitigation Credit Proposal by Homeowners Insurers
May 17 2010 // Insurers in North Carolina are preparing to offer premium credits to homeowners who implement storm mitigation improvements. On behalf of insurers, the North Carolina Rate Bureau has filed a proposal with the Department of...
Mississippi Gets New Property Insurer: Coastal American
May 17 2010 // A newly-formed Mississippi company with backing from a Florida insurer and local private investors including six independent agencies will begin writing homeowners policies on the coast in Mississippi. Gulfport-based...
Florida Lawmakers Pass Omnibus Property Insurance Bill
May 17 2010 // On the final day of this legislative session, Florida lawmakers passed omnibus legislation that aims to bring more control over homeowners insurance costs, raises the state’s minimum capital requirements for...
Arizona Privatizing Workers’ Compensation Insurer
May 17 2010 // The Arizona Legislature has approved a bill to privatize the state workers’ compensation insurer as an Arizona mutual insurance company, beginning Jan. 1, 2013. The State Compensation Fund (SCF) was created in 1925...
Trains, Ships and Trucks
May 17 2010 // Maritime Law May Limit Compensation for Cargo Damages During the Inland Transportation Part of a Journey That Originated Overseas. In disputes regarding damage to cargo transported over land and water, it is important for...
