Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Canada’s Auto Insurers Call for Effecftive Cost Control for Consumers
May 26 2009 // The Insurance Bureau of Canada, which represents 95 percent of the Country’s P/C carriers, has reacted strongly to charges that they oppose reforms in the auto sector. The IBC stated: “An alliance of medical/...
Only 2 Florida Domestic Insurers Lose Demotech Ratings Thus Far
May 22 2009 // Two domestic property insurers no longer writing in the state — one by choice, the other forced– are the only two Florida insurers negatively affected thus far by a rating agency’s review of small...
Coastal Insurance Rates Could Rise if Federal Tax Law is Enacted
May 21 2009 // As it girds for hurricane season, Texas has plenty to worry about. The Texas Windstorm Insurance Association (TWIA) – which provides coverage for high risk coastal properties – has ended up at the brink of...
New York Med Mal Insurer is $43M Short
May 21 2009 // New York’s second-largest medical malpractice insurer is more than $43 million in the hole, according to new regulatory filings, but state regulators are legally forbidden from initiating the process to liquidate or...
Insurance Industry Plays Significant Role in California’s Economy
May 20 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...
Litigation Expected on Minnesota Insurance Bill as Session Ends
May 20 2009 // The 2009 Minnesota legislative session has wrapped up with lawmakers taking action on a number of insurance bills. One in particular has insurer trade groups questioning whether litigation will follow after the measure...
Fitch Advises Florida Insurance Market Remains ‘Fragile’
May 20 2009 // Fitch Ratings agency is advising that the Florida property insurance market is “fragile” and remains a “peak risk zone.” The Florida assessment is included in a Fitch report for investors right...
Cunningham Lindsey U.S. CEO: Market Conditions Not Slowing Growth
May 20 2009 // With its acquisition in early 2009 of the international business of GAB Robins (excluding its UK operations) and the U.S. forensic engineering firm, EFI Global, Cunningham Lindsey became the second largest property...
Arizona Governor Names Patrick to Arizona Workers’ Comp Insurer Board
May 20 2009 // Arizona Governor Jan Brewer has named Judith A. Patrick chair of the Board of Directors of SCF Arizona, the state’s largest provider of workers’ compensation insurance. Patrick becomes the first woman appointed...
Economy Forcing Changes in Carrier Investments
May 19 2009 // The current economic environment has produced several influences that in combination are negatively affecting, or at least stressing, property casualty insurance carriers in unique ways, according to one experienced...
Some Insurers Including Allstate Might Not Need Federal Funds
May 18 2009 // Government approval for billions of dollars in taxpayer bailout funds for life insurers is dividing the industry into haves and have-nots, with Ameriprise Financial Incand possibly others rejecting the government’s...
Court: Insurer Must Indemnify Contractor in Mass. ‘Sick Building’ Case
May 18 2009 // A federal court ruled that an insurer has a duty to defend and indemnify a flooring company which installed carpets and tiles in a Massachusetts office that were so fume-ridden, they made the building unusable. In a...
No Resolution on Credit Scores
May 18 2009 // The use of credit scores by insurance companies in rating methodologies continues to be unresolved in several Midwest states, as evidenced by ongoing court battles and legislative actions aimed at tweaking existing...
Workers’ Compensation Insurers Break Even in 2008
May 18 2009 // Recession Reduces Claims but Poor Investment Climate Frustrates Insurers The workers’ compensation insurance industry experienced a year of mostly solid results in 2008, according to Dennis Mealy, NCCI Holdings Inc....
What Additional Living Expense/Loss of Use Coverage Means to California Fire Victims
May 18 2009 // The skies are filled with smoke, and hundreds of homeowners were evacuated from their homes in Santa Barbara earlier in May. During November 2008’s Tea Fire, which occurred in roughly the same areas as this...
What Do Agents Want?
May 18 2009 // What do agents want from their insurance carriers? Surprisingly, compensation is not No. 1 on the list. Rather, independent insurance agents would rather have a good relationship with a carrier that is responsive. One...
Outside the Beltway-Big ‘I’ CEO on Carrier Relations, AIG and Agent Grassroots
May 18 2009 // Bob Rusbuldt, president and CEO of the Independent Insurance Agents & Brokers of America (Big “I”), sat down with Insurance Journal‘s Andrew Simpson at the association’s recent legislative...
Inside the Beltway-Federal Regulation Threat Remains Priority
May 18 2009 // Health care reform hasn’t completely overwhelmed federal regulation as a concern in Washington, at least for insurance agents. They believe that given all of the current financial turmoil, some type of financial...
Capital, Capital, or Where Did All the Money Go?
May 18 2009 // At least the global depression has focused people’s minds on some important issues. The Group of 20 (G20) meeting in London acknowledged the need for more capital to shore-up the world’s financial system...
Best Affirms AXA (US) ‘A-‘ Ratings
May 15 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of New York-based AXA Insurance Company, both with stable outlooks. Best...
