Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
How Actuaries Help P/C Insurers Navigate Uncertain Markets
Jun 11 2009 // Property/casualty insurers and reinsurers rely more than ever on the expertise of actuaries at a point in the cycle when the market is neither softening nor hardening, attendees at the CAS Seminar on Reinsurance were told...
Analysts: P/C Insurers’ Hopes for Hard Market Undercutting Reserves
Jun 10 2009 // Some property/casualty insurers might be in for a rude awakening with respect to their reserve practices, according to industry experts. The property/casualty insurance sector’s ability to properly estimate its loss...
Accenture Study Finds Insurers Continue Expansion Plans
Jun 10 2009 // According to findings of a survey released today by global management consulting firm Accenture, nearly two-thirds (62 percent) of insurers plan to grow outside of their home market in the next 12 months. The survey...
Northeast’s ProMutual to Buy Michigan Medical Liability Insurer FinCor
Jun 10 2009 // Massachusetts-based medical liability insurance company Medical Professional Mutual Insurance Co., known as ProMutual, will acquire medical liability insurer and risk management company FinCor and its...
CEO of Colorado Workers’ Comp Insurer: Private Would Be Better
Jun 10 2009 // The head of Colorado’s state-created workers’ compensation insurance company says the organization could do a better job if it were privatized. CEO Ken Ross told state lawmakers that Pinnacol Assurance has paid...
Krebs Joins South Carolina Captive Insurer Licensing Team
Jun 8 2009 // Ronald Krebs has joined the Alternative Risk Transfer Services Team in South Carolina’s insurance department, where he will be responsible for the application processes from submission to licensing captive insurance...
Best Affirms Intact Insurance (former ING Canada) ‘A+’ Ratings
Jun 5 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Toronto-based Intact Insurance Group, the former ING Canada Group. It...
Florida’s Crist Caught Between Dueling Officials on Insurance Deregulation
Jun 5 2009 // If Florida Gov. Charlie Crist vetoes a bill designed to deregulate pricing for large national property insurers as appears likely, he will be siding with an appointed official over an influential lawmaker. Crist, who is...
Wedding Insurance Gets Another Look in Tough Times
Jun 4 2009 // Fantasies of the perfect wedding never included banquet halls going bust or lovebirds losing their jobs. But a calamity can sneak up on you while you’re consumed with creating your dream day, especially during a...
Association of British Insurers Warns of Regulation ‘Contagion’
Jun 4 2009 // The Association of British Insurers has issued a statement warning that regulators and governments “must not harm other industries, such as insurance, as they deal with the banking crisis.” In a new report,...
Michigan Mandates Insurers File Home, Auto Insurance Forms with State
Jun 4 2009 // Michigan’s insurance regulator is reinstating a requirement that insurance companies submit all home and auto insurance documents and forms to the state insurance department for review prior to using them with the...
Top 100 Profile: Strength in Numbers at Keystone Insurers Group
Jun 4 2009 // As Insurance Journal prepares for another Top 100 Independent Property/Casualty Agency List, to be published in our Aug. 3, 2009, magazine, the editors wanted to highlight a few of the current Top 100 agencies. Throughout...
Regulator: California Workers’ Comp Insurance Rating Bureau Needs to Address Challenges
Jun 3 2009 // The California Department of Insurance has released the audit report of the state’s Workers’ Compensation Insurance Rating Bureau. Recommendations made by the audit suggest that WCIRB should: Begin to collect...
Former Gov. New CEO of Missouri Workers’ Compensation Insurer
Jun 3 2009 // Former Missouri Gov. Roger Wilson has taken over as acting president and CEO of Missouri Employers Mutual. Wilson began May 31 as the leader of the workers’ compensation firm that employs more than 200 people in...
Georgia Court Rules Insurer Not Liable for Voluntary Settlement
Jun 2 2009 // An insured who voluntarily agrees to pay a settlement that is not dictated by a jury verdict cannot sue its insurance company for bad faith failure to defend, even if the settlement is within the policy limits, the Georgia...
P/C Insurers Apply Lessons from Hurricane Katrina
Jun 2 2009 // The property/casualty insurance industry is employing advancements in catastrophe modeling and considering the impact of the creation of a national catastrophe fund as it applies lessons learned from Hurricane...
Insurer Can’t Deny Property Coverage Because of Nearby Excavation
Jun 2 2009 // An insurer can’t cite the commonly used earth movement exclusion to deny coverage to an insured whose property was damaged by excavation to a neighboring lot, a New York Appeals Court has ruled. The case pitted the...
Quality and Protectionism in the Insurance Market
Jun 1 2009 // Why Market Blocking Is Not Best for the Consumer or the Industry The insurance business needs to lose a vestige of the insurance marketplace of the last century. Let’s become more friendly to competition and the free...
40% of Florida Home Carriers Losing Money Even With No Big Storms
Jun 1 2009 // With the start of the hurricane season just a few weeks away, a leading Florida consumer advocate joined independent agents at a press conference to warn that property insurance rates need to be raised if insurers are...
Insurance Industry Plays Significant Role in California’s Economy
Jun 1 2009 // The insurance industry plays a significant role in California’s economy, employing hundreds of thousands of workers, investing billions of dollars in state and local governments and paying the fourth largest amount...