Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Top Regional Stories of 2008
Dec 21 2008 // West California Passed Agent-Broker Law The most notable bill affecting California agents was AB 2956, which clarifies the duties of an insurance agent versus a broker. Prior to the new law, confusion existed within the...
The View From London
Dec 21 2008 // Insurers Can Weather Global Financial Crisis Buyers that aren’t buying; houses that aren’t selling, banks that aren’t lending — sound familiar? But in this case it’s the United Kingdom that...
Insurer Arguing Smoke, Pollution – not Fire – Caused Deaths in Houston
Dec 19 2008 // An insurance company is arguing in a Texas court that a policy it issued that excludes payments for pollution prevents the families of three people killed in a 2007 Houston office building fire from being compensated...
A.M. Best Restores Ratings of Insurers Tied to Florida Hurricane Fund
Dec 19 2008 // Following the completion of the 2008 hurricane season, A.M. Best Co. has removed from under review and affirmed several insurers’ ratings it had issued in October when there was concern over the insurers’...
West Virginia High Court: Insurer Not Liable in Underage Drinking Case
Dec 19 2008 // The West Virginia Supreme Court says a homeowner’s insurance company should not be held liable for paying damages stemming from a fatal alcohol-related accident involving underaged drinkers. In its unanimous ruling,...
Best Upgrades Allianz (US) Ratings to ‘A+’; Affirms Fireman’s Fund
Dec 19 2008 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit ratings (ICR) to “aa” from “a” of Allianz Global...
Insurers Critical of New Jersey Senate Bill
Dec 18 2008 // The Property Casualty Insurers Association of America (PCI) said it strongly opposes a bill recently passed by New Jersey Senate that allows physicians to make self-referrals to their ambulatory surgical centers. PCI said...
Insurer: More Home Fires Occur During Holidays Than Any Other Time
Dec 18 2008 // Travelers Insurance is reminding consumers that while they are home for the holidays they should remember that more home fires happen between Dec. 24 and Jan. 6 than any other time of the year. According to the National...
Willis Sees Hardening in Airline Insurance Market
Dec 17 2008 // Willis Group Holdings has said that it “expects aviation insurance prices to rise and the insurance market to harden further through the end of 2008 and into 2009,” according to the latest report issued by the...
Study: Identifying At-Risk Auto Customers Critical for Carrier Retention
Dec 17 2008 // Although 85 percent of auto insurance customers indicate they are loyal to their carrier, more than one-third of auto insurance policyholders shopped for a new insurance provider, says a new industry study released...
TWFG Offers to Replace Coverage for Customers of Failed Texas Insurer
Dec 16 2008 // The Woodlands Financial Group (TWFG) announced that TWFG will offer replacement coverage for the homeowners business of Austin Indemnity Lloyds Insurance Company, effective Jan. 29, 2009. TWFG General Agency, a subsidiary...
Hallmark Financial Services E&S Carrier Expands Into Texas, Louisiana
Dec 16 2008 // Hallmark Financial Services Inc. (Hallmark), based in Fort Worth, Texas, reported its subsidiary TGA Insurance Managers Inc. (TGA) will start issuing excess and surplus lines policies through its affiliate Hallmark...
Industry Profits Dove Massively through First Nine Months of 2008
Dec 16 2008 // After-tax profits for the U.S. property and casualty industry through the first nine months of the year were $4.1 billion — a 91.8 percent decline from the $50 billion in profits earned the same period a year ago,...
Medical Liability Insurer Proassurance Buys Houston’s Mid-Continent Agency
Dec 16 2008 // Birmingham ,Ala.-based ProAssurance Corp. said it will acquire Mid-Continent General Agency for an undisclosed price. Mid-Continent is a managing general agent, based in Houston, producing about $25 million a year in...
S&P: Challenging Times Loom For U.S. Insurers in 2009
Dec 15 2008 // The deteriorating U.S. economy – with its waves of layoffs, dislocations in the credit and equity markets, and falling home prices – will present a challenge in 2009 for almost every domestic business sector,...
Massachusetts Bill Would Shield Military from Predatory Insurers
Dec 15 2008 // A bill on Gov. Deval Patrick’s desk would require the state to toughen regulations on predatory insurers who target members of the military in Massachusetts. The bill would require the state Commissioner of Insurance...
Insurers’ Backing Sought for Car Key That Jams Teen Drivers’ Cell Phones
Dec 12 2008 // University of Utah researchers have developed an automobile ignition key that prevents teenagers from talking on cell phones or sending text messages while driving. The inventors are hoping the insurance industry will back...
California Workers’ Comp Insurers to Raise Rates
Dec 11 2008 // The California Department of Insurance has approved rate increases for several workers’ compensation insurers. California Insurance Commissioner Steve Poizner had recommended a 5 percent increase in his rate...
As Domestic Insurers Multiply, Industry Applauds Florida’s Licensing
Dec 11 2008 // Florida’s domestic insurers continue to take on a larger and larger role in the state’s property insurance market. The latest data from Florida’s Office of Insurance Regulation show the domestic market...
Insiders Say AIG Slashing Prices to Win Business in Moves That May Burn Rivals, Taxpayers
Dec 11 2008 // American International Group Inc. is cutting prices to win new business and boost market share, competitors and others in the industry say, but taxpayers could again be stuck with the tab. Since a U.S. government bailout,...
