Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Demotech Actuaries Offer Guidance on Florida Insurers’ Financial Ratings
Mar 18 2010 // The actuarial services firm, Demotech, which rates most of Florida’s newer and smaller domestic property insurers, has published a position paper outlining its approach to its carrier Financial Stability Ratings and...
Big EU Insurers Pass Stress Tests
Mar 17 2010 // Europe’s insurers are able to withstand even a major financial crisis, an EU watchdog said on Tuesday, boosting industry hopes for less onerous regulation. EU insurance watchdog CEIOPS, (the Committee of European...
Best Affirms Ratings of Farmers Insurance Group and Members
Mar 17 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Farmers Insurance Group and its members. Best also affirmed the debt...
Insurer Group Wants South Dakota Governor to Veto Subrogation Bill
Mar 17 2010 // The Property Casualty Insurers Association of America (PCI) has requested that South Dakota Governor Mike Rounds veto Senate Bill 169, which PCI says will increase litigation costs and cause higher insurance premiums for...
Best Affirms Chubb Group and Subsidiaries ‘A++’ Ratings
Mar 17 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of the Chubb Group of Insurance Companies and its P/C members. Best also...
Sarasota HeraldTribune: How Florida Insurers Make Millions on the Side
Mar 16 2010 // The Sarasota HeraldTribune, as part of its series on the property insurance market in Florida, has reported that half of the state’s insurers are making money not from insuring homes but by diverting premiums into...
Report: Calif. Workers’ Comp Insurance Market Still Needs Improvement
Mar 16 2010 // California workers’ compensation claims and disability costs have dropped significantly since the state’s workers’ compensation system was overhauled in 2003 and 2004. Yet “many of the same...
Property/Casualty Insurers Have Issues with Dodd Financial Reform Bill
Mar 16 2010 // Even though they are largely excluded from the federal financial regulatory overhaul proposed in the Senate, property/casualty insurers say there are some elements they fear could negatively affect them and their...
Calif. Workers’ Comp Insurer Records $143 Million Net Income for 2009
Mar 12 2010 // The California State Compensation Insurance Fund, reported it ended 2009 with $1.25 billion in net premium earned, and $143 million in net income, compared with $75 million in net income earned in 2008, Doug Stewart,...
Arkansas Suspends License of 2 New York-based Insurers
Mar 12 2010 // Arkansas Insurance Commissioner Jay Bradford on March 11 suspended the certificates of authority to conduct insurance business of two New York domiciled property and casualty insurance companies: Centennial Insurance...
Measure to Privatize Oklahoma’s Compsource Dead for the Year
Mar 12 2010 // The author of legislation authorizing the sale of Oklahoma’s workers’ compensation insurance agency said he does not have enough votes to pass it in the state House and that the bill appears dead for the...
Best Affirms American Modern Insurance Group Ratings
Mar 12 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of American Modern Insurance Group of Amelia, Ohio and its...
New York’s ‘Ground Zero’ Workers Reach Settlement with Insurer
Mar 12 2010 // Thousands of workers who suffered health problems after the Sept. 11 attacks in 2001 have reached a settlement worth up to $657.5 million with an insurer representing the city of New York, city officials and lawyers said...
Florida Insurers Pin Hopes on Broad Bill Passed by Senate Panel
Mar 11 2010 // With the prospects for a controversial rate deregulation bill dimmed by Gov. Charlie Crist’s threat of a veto, the insurance industry is betting on a new wide-ranging insurance proposal to bring some reform to...
Obama Health Secretary Keeps Pressure on Health Insurers
Mar 11 2010 // Health and Human Services Secretary Kathleen Sebelius ratcheted up the pressure on health insurance companies Wednesday, urging them to forgo short-term profits to make coverage more affordable and to stop fighting the...
A.M. Best B+ (Good) Rated Contractor GL Insurance Carrier Expanding to 35 States
Mar 10 2010 // National Contractors Insurance Company, Inc., a Risk Retention Group (“NCIC”), A.M. Best Rated B+ (Good), is expanding from 25 to 35 states, with their Commercial General Liability coverage now being made...
More New Florida Property Insurers in Trouble?
Mar 10 2010 // Florida insurance regulators this week notified a Jacksonville-based insurer that it has until the end of the month to comply with solvency requirements to avoid suspension or losing its license. And the warning to...
Kinsale Formed as Virginia-Based Specialty Insurer
Mar 10 2010 // Kinsale Capital Group has formed a Virginia-based E&S insurer, called Kinsale Insurance Co., that will underwrite commercial property/casualty and professional liability E&S lines in 31 states and the District of...
House Panels Face Environmental, Insurer Groups Over Catastrophe Bill
Mar 10 2010 // Two House subcommittees have scheduled a joint hearing today on ways to address homeowners insurance costs in disaster-prone communities, an issue that has some environmentalists, taxpayer groups and insurers standing...
Bermuda Insurers, Reinsurers Oppose State Cat Fund Bill – HR 2555
Mar 9 2010 // The Association of Bermuda Insurers and Reinsurers (ABIR) has filed an opposition to HR 2555 which, the Association warns would “replace private sector risk bearing capital with government reinsurance and government...
