Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Seek Cut in Florida Hurricane Fund Charges to Reflect Reality
Dec 10 2008 // Property/casualty insurers in Florida believe they are being overcharged for coverage from the state’s hurricane fund and some of them are looking for a refund. Insurers contend that the state fund is only...
Nebraska Businessman Accused of Fraud Sues Insurance Company
Dec 10 2008 // An Omaha, Neb. businessman who’s facing several lawsuits accusing him of fraud has filed his own lawsuit. Bryan Behrens is suing Kansas City, Mo.-based Arch Insurance Co. saying it’s responsible for his defense...
Swiss Re Sees ‘Severe Recession;’ Insurers Should Preserve Capital
Dec 10 2008 // At their most recent conference in London, Swiss Re’s economists predicted a “severe recession until mid 2009 in industrialized economies, including the United States and Europe.” They also expect that...
New York Insurers Object to $140M in ‘Back-Door Taxes’
Dec 10 2008 // A trade group for insurers in New York State says its members strongly oppose $140 million in new assessments on insurance companies proposed by Gov. David Paterson. Those increases, according to the New York Insurance...
Hawaii Compares Auto Insurance Rates, Carriers’ Complaint Ratios
Dec 9 2008 // The Hawaii Department of Commerce and Consumer Affairs Insurance Division has published motor vehicle insurance premium comparisons for all islands, as well as published customer complaint ratios for carriers in the...
Five Firms Vying for AIG Japan Units
Dec 9 2008 // Prudential Financial Inc., Manulife Financial Corp. and three other firms are expected to place competing bids for two Japanese life insurers put up for sale by American International Group Inc, people familiar with the...
Georgia: No Single Formula for Insurers Handling Diminished Value Claims
Dec 9 2008 // Georgia Insurance Commissioner John W. Oxendine has issued a directive informing automobile insurance companies in Georgia about the proper handling of diminished value claims. Oxendine ordered all auto insurance companies...
S&P Warns of ‘Multi-Notch Downgrades’ on 5 Mortgage Insurers
Dec 8 2008 // Standard & Poor’s Ratings Services announced that it has placed its ratings on five major U.S. mortgage insurers and their core and dependent foreign subsidiaries on CreditWatch with negative implications. These...
Number of Complaints Against Insurers Continues to Drop in Texas
Dec 8 2008 // For the fifth year in a row Texas consumers filed fewer complaints against their insurance companies with the Texas Department of Insurance (TDI), the Insurance Council of Texas reported. The total number of closed...
Kentucky County’s Insurer Pays $2.1 Million to Settle Crash Suit
Dec 8 2008 // Garrard County’s insurance company has paid $2.1 million to the estate of a central Kentucky man killed in a fiery car crash involving a former a county employee. The Advocate-Messenger reports the lawsuit was filed...
North Carolina Insurers Seeks 19.5% Statewide Home Insurance Rate Hike
Dec 5 2008 // North Carolina homeowners insurers are seeking an average 19.5 percent statewide rate hike which, if approved, would be the first rate hike since 2006. The proposal, being finalized this week by the North Carolina Rate...
Ex-CEO Greenberg: AIG Needs Unified Plan Quickly to Recover
Dec 5 2008 // Former American International Group Inc. CEO Maurice “Hank” Greenberg said the insurer could fall apart unless management quickly came up with a unified recovery plan. “You can’t hold (together) an...
New York Insurers’ Group Elects Officers and Directors
Dec 4 2008 // The New York Insurance Association recently elected officers and directors for the group, a trade association for property/casualty insurers. New officers who will serve one-year terms are Cecilia Norat, American...
Financial and Housing Crises, Soft Market to Challenge Insurers in 2009
Dec 4 2008 // The financial and housing crises, along with a prolonged soft market, are converging to create a highly challenging environment for the U.S. insurance industry in 2009, says an industry think tank. These factors will force...
Premium Rating Errors Cost Auto Insurers $16 Billion, Report Claims
Dec 4 2008 // Premium rating errors by insurance companies resulted in the loss of $16.1 billion of auto insurance premium revenues in 2007, slightly down from the 2006 figure of $16.6 billion — but still almost 10 percent of the...
Insurers Urge Surcharges, Reforms to Fix North Carolina Beach Plan
Dec 3 2008 // Property/casualty insurers are urging North Carolina officials to impose surcharges on policies in the state’s residual market property insurer, the Beach Plan, and take other financing and mitigation steps to...
Keystone Insurers Group Honors 3 Agency Partners
Dec 3 2008 // Keystone Insurers Group (KIG), the fourth largest privately held property/casualty insurance agency in America and an Insurance Journal Top 100 Agency, announced the recipients of its fifth annual KIG Exemplary Awards. The...
Mississippi Insurance Chief Chaney Reports Progress in Rebuilding Markets
Dec 3 2008 // One year after he was elected, Mississippi Insurance Commissioner Mike Chaney says his state has made progress in rebuilding its insurance markets that were ruined by the 2005 hurricanes. Mississippi has done this by...
Best Releases Study of Asian Insurers
Dec 2 2008 // A.M. best Co. has issued a new study of Asian insurance companies, which concludes that they “are expected to avoid major liquidity problems stemming from the global financial crisis, but investment income will...
Donegal Group Acquires Sheboygan Falls Insurance Company
Dec 2 2008 // Donegal Group Inc. recently reported that it had completed the acquisition of all of the outstanding capital stock of Sheboygan Falls Insurance Co. The acquisition was approximately $12 million, which includes a surplus...