Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
P/C Insurers Can Handle Chinese Drywall Costs, Says Moody’s
Apr 5 2010 // Property/casualty insurers are expected to continue to handle costs for defective Chinese drywall claims in the normal course of business, according to a rating analyst with Moody’s Investors Service. Losses from...
Making Continuous Coverage Auto Insurance Discount Portable Is Good for Consumers
Apr 5 2010 // The Alliance of Insurance Agents & Brokers supports Proposition 17 on the June 2010 statewide ballot because it will make the auto insurance market more competitive, offer drivers more choices and lead to lower rates...
Illinois High Court Rules Against Insurer in Underinsured Motorist Case
Apr 5 2010 // The Illinois Supreme Court has ruled that an appellate court was correct when it found that an insurance company cannot exclude occupants of an insured vehicle from underinsured motorists coverage (UIM). The high...
P/C Insurers Can Handle Chinese Drywall Costs, Says Moody’s
Apr 5 2010 // Property/casualty insurers are expected to continue to handle costs for defective Chinese drywall claims in the normal course of business, according to a rating analyst with Moody’s Investors Service. Losses from...
Pinnacol Assurance Offers Colorado $330 Million to Become Private Insurer
Apr 5 2010 // Pinnacol Assurance, Colorado’s quasi-governmental workers’ compensation insurer, has submitted a potential separation agreement to Colorado Gov. Bill Ritter that would establish Pinnacol as a domestic mutual...
When a House Is a Home… and a Museum
Apr 5 2010 // How One Insurance Agency Is Helping to Preserve Historic Homes and Businesses While other insurance agents are visiting manufacturing plants, shopping malls and office parks, Brian Phoebus hangs out in historic homes,...
Insurer’s Study Shows U.S. Refineries Plagued by Deadly Accidents
Apr 5 2010 // U.S. oil refineries have an ongoing problem with accidents that turn deadly, losing four times as much money from such incidents than refineries in the rest of the world, according to an insurance company report obtained...
Marsh to Launch Service to Gauge Insurers Financial Strength
Apr 5 2010 // A bulletin from Marsh’s London office notes that in the wake of the global financial crisis, “businesses in all parts of the world are strengthening their risk governance, including management of their...
10 Technologies with Biggest Impact on P/C Insurance Companies
Apr 5 2010 // A Stamford, Conn.-based research and consulting firm has identified 10 technologies that will have the greatest impact for the property/casualty (P/C) insurance industry. Gartner Inc. said these technologies will challenge...
Louisiana Citizens Insurance OKs 7% on Average Rate Hike
Apr 5 2010 // Homeowners who are dependent on Louisiana’s property insurer of last resort will see rates increasing by an average7 percent statewide. However, rate increases – as well as decreases – will vary widely,...
Florida Eyes Insurer Payments to Affiliates
Apr 5 2010 // Florida Gov. Charlie Crist wants the state insurance regulator to have authority to prevent excessive payments by home-based insurance companies to affiliate managing general agencies and other entities. “I’d...
Before the Storms
Apr 5 2010 // As Insurance Commissioner Kevin McCarty told the Florida Cabinet, “the marketplace still faces serious challenges.” Out of the more than 200 property insurance companies in Florida, 81 reported underwriting...
Are Special Litigation Committee Expenses Covered Costs?
Apr 5 2010 // A Recurring D&O Coverage Issue Heats Up Among perennial directors and officers insurance issues are questions whether policy coverage is available for the costs associated with special litigation committees. A Dec. 30,...
A Tale of Two Markets
Apr 5 2010 // What to Expect in the D&O Liability Renewal Market Your client’s directors and officers liability policy is coming up for renewal. What can you expect from the market? Like the Dickens classic, this is a tale of...
Best Affirms Tower Group’s ‘A-‘ Ratings
Apr 2 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the New York-based Tower Group Companies and its pooled and reinsured...
Selective Investment Officer Departs as Insurer Begins Outsourcing
Apr 2 2010 // New Jersey-based insurer Selective Insurance Group Inc. says it has begun outsourcing its investment operations to third party managers and as a result, its executive vice president and chief investment officer, Kerry A....
Insurers: Calif. Court Decision Emphasizes Need for Timely Defense
Apr 2 2010 // The California Court of Appeal has ruled that an insured can recover full defense costs, when an insurer fails to respond with timely defense. According to court documents in Intergulf Development v. Superior Court of San...
Soft Market, Weak Economy Will Challenge Insurers, Brokers in 2010
Apr 2 2010 // The recession may be over, but recovery is not happening quickly enough for insurers and brokers. From unemployment rates hovering at about 10 percent to still rising business bankruptcies, the lingering effects of the...
Arkansas Suspends Lincoln General Insurance Company
Apr 1 2010 // Arkansas regulators have suspended the Certificate of Authority of Lincoln General Insurance Company, domiciled in Pennsylvania, due to the company’s “financially hazardous condition.” In a March 24...
FERMA Survey Polls Commercial Buyers for Feedback to Insurers
Apr 1 2010 // The Federation of European Risk Management Associations (FERMA) announced that it is presently conducting, “a wide-ranging, risk management benchmarking survey,” aimed at compiling data to let insurers know...
