Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Best Assigns Ratings to National Contractors Insurance Company
Jan 6 2010 // A.M. Best Co. has assigned a financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” to National Contractors Insurance Company, Inc., RRG (NCIC), which is headquartered in...
British Insurer Aviva Purchases Kentucky Firm
Jan 6 2010 // British insurance company Aviva PLC has agreed to buy all the shares in River Road Asset Management of Louisville, Kentucky. Aviva did not say what it is paying for the company, which has gross assets of $6 million and...
WCI Chinese Drywall Trust Files Suit Against 14 Insurers
Jan 6 2010 // The Trustee for the WCI Chinese Drywall Trust has filed suit against 14 insurance companies in U.S. District Court, Eastern District of Louisiana, seeking indemnification for losses arising from claims for the development...
Democrats Optimistic on Health Care Bill Prospect
Jan 6 2010 // House Speaker Nancy Pelosi said Tuesday she was sure Democrats in the House of Representatives and Senate would produce a final health care reform plan that would hold insurers accountable and make medical coverage...
Key Differences in Senate, House Health Bills
Jan 6 2010 // Democrats in the U.S. Congress are preparing to merge the two health care bills passed in 2009 by the Senate and House of Representatives into a single bill. This compromise bill would have to be passed by both chambers of...
Florida Peninsula to Acquire Home Insurer Edison
Jan 5 2010 // Boca Raton-based Florida Peninsula Holdings has agreed to acquire another Florida property insurer, Edison Insurance Group, including its two subsidiaries, Edison Insurance Co. and Edison Insurance Underwriters. The...
California Appeals Court Upholds Right to Challenge Insurance Rates
Jan 5 2010 // Insurance companies must pay the legal costs of consumer challenges to insurance rate increases, even if they withdraw or settle challenges to rate applications before a formal hearing on their application is called, a...
Insurer Fights Payout on Illinois House That Exploded
Dec 31 2009 // An insurance company is fighting a claim on a Madison County, Ill., house that exploded last year, blaming a female occupant for the blast. Madison Mutual Insurance Co.’s lawsuit in Edwardsville asks a judge to not...
Oregon Enhances Death Benefits for Fatal Worker Injuries
Dec 30 2009 // Oregon is enhancing the death benefits available to surviving family members when a worker has a fatality, by expanding the scope of the burial benefit and doubling it to 20 times the state average weekly wage; creating a...
Captives Fuel Growth and Income for Agency Owners
Dec 30 2009 // In times like these, where the insurance industry is now in its fifth year of a soft market, the use of an agency captive insurance company can spark both revenue and profits to improve an agency’s overall financial...
Greek Anarchists Claim Insurance Company Bombing
Dec 30 2009 // A radical Greek anarchist group claimed responsibility Monday for an overnight bomb attack that damaged an insurance company headquarters in central Athens, and pledged to step up its bombing campaign. Nobody was hurt in...
Former Insurance Company Bookkeeper Pleads Guilty
Dec 30 2009 // A former Gulf Shores, Alabama insurance company bookkeeper accused of bilking homeowners out of at least $120,000 has pleaded guilty to a lesser charge of misappropriation of insurance premiums. The Press-Register reported...
Florida’s Homeowners Choice Assumes 23,000 Policies from Citizens
Dec 29 2009 // State officials have authorized a private Florida insurer to accept 23,000 policies from the state-owned insurer, Citizens Property Insurance Corp. Homeowners Choice, Inc. said the assumption of these policies represents a...
ABI Finds Trade Credit Insurers Paid ‘Record Amount’ in Q3 Claims
Dec 29 2009 // According to the latest figures compiled by the Association of British Insurers (ABI), trade credit insurers paid out a record amount in claims in the third quarter of 2009. The total amount paid in claims was £125...
Report: Deregulation Made Massachusetts Auto Insurance Market Worse
Dec 28 2009 // The deregulation of the Massachusetts auto insurance market has driven up prices, boosted insurer profits, reduced consumer protections and generally created confusion in the marketplace, according to a new report by the...
Michigan Auto Insurance Bills Stall As Senate Adjourns Without Acting
Dec 28 2009 // The Michigan Senate adjourned before Christmas without taking action on a property/casualty insurance bill package already passed by the House of Representatives. The package would, among other things, give the insurance...
Florida Insurer Magnolia Placed Under State Supervision
Dec 28 2009 // Home insurer Magnolia Insurance Co. has been placed under administrative supervision by Florida insurance regulators who said it is in unsound financial shape and its president, H. James Irl, has resigned. The Coconut...
New York Orders Two Insurers to Reinstate 260 Policies
Dec 28 2009 // The New York State Insurance Department has ordered insurers Homesite Insurance Co. and Security Mutual Insurance Co. to offer to reinstate at total of 260 homeowners’ policies across the state. Regulators say the...
Best Affirms Allstate New Jersey ‘A-‘ Ratings; Outlook Stable
Dec 23 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Allstate New Jersey Insurance Group and its members. The outlook for all...
Report Recommends Phasing Out Louisiana’s State Insurer Citizens
Dec 23 2009 // Among the many recommendations made by Louisiana’s Commission on Streamlining Government in its Dec. 14 report to the state legislature is one that would phase out the state’s property insurer of last...
