Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Japan: Risk and Rewards
Aug 21 2008 // In Japan, agencies write 93 percent of P/C insurance. The Japanese property and casualty insurance market is ripe for opportunities, but there also are significant risks in the country, according to Keiji Fukasawa of...
Obtaining Optimal Catastrophe Coverage
Aug 21 2008 // The complexity of the cat insurance market can make it difficult to keep pace with the coverage options. In the midst of hurricane season, insurance agents and brokers are reminded of the need for forward-thinking...
Cleaning Up After Hurricane Katrina
Aug 21 2008 // In both Mississippi and Louisiana, the principal argument in support of the alleged ambiguity was that the flood waters during Hurricane Katrina were pushed ashore by wind, a covered peril, and the flood exclusion did not...
National Insurer Wants to Include Flood Coverage in Home Policies
Aug 21 2008 // One of the nation’s largest insurance companies is lobbying Congress for permission to sell policies that cover damage from both wind and flood water, a plan billed as a way for insurers and homeowners to avoid...
Responding to an Insurance Department Request for Assistance
Aug 21 2008 // providing [the Department of Insurance] a well-crafted response. Receiving a letter from the California Department of Insurance concerning a customer’s complaint is truly an unsettling experience for many agents. The...
Study: Buyer Satisfaction Better When Local Agent Plays a Role
Aug 21 2008 // Insurers who disappoint buyers during the shopping and sales process run the risk of losing sales from new and existing customers. Buyers who purchase their auto insurance policies through local agents give higher average...
NATIONAL COVERAGE
Aug 21 2008 // S&P Says Nationals Safe, While Midwest- Focused Insurers at Risk N2 | Washington Report House Subcommittee Moves Key Federal Insurance Regulation Bills N4 | Home Insurers Bitten by $350 Million in Dog Claims Average...
Obtaining Optimal Catastrophe Coverage
Aug 21 2008 // The complexity of the cat insurance market can make it difficult to keep pace with the coverage options. The savvy wholesale broker keeps tabs on which surplus lines insurers have the appropriate capacity for In the midst...
Conning Research: Insurers’ Financials Strong Despite Price Deterioration
Aug 21 2008 // The financial condition of the property/casualty industry is strong, and should be able to withstand the current price deterioration, according to a new industry study. “The outlook for the next three years –...
Home Insurers Bitten by $350 Million in Dog Claims
Aug 21 2008 // The average cost of dog bite liability claims increased by 11.5 percent in 2007 to $24,511. Man’s best friend is sinking its teeth into homeowners insurance costs. Dog bites now account for one-third of all...
By Charles E. Boyle
Aug 21 2008 // From Novelty to Necessity: Bermuda’s Insurance Market 2008 Bermuda’s insurance industry has grown steadily since it began 50 years ago. It is now a mature market, and, in certain sectors – natural...
Soft Market Hammers Commercial Carriers’ Stocks; M&As Active in Personal Lines Sector
Aug 21 2008 // Stock Prices: The soft market continues to have an effect on insurers’ stock prices. With the inability of insurers to grow in the current market, commercial insurers’ stocks are still falling, down 18 percent...
Conning Research: Insurers’ Financials Strong Despite Price Deterioration
Aug 21 2008 // The financial condition of the property/casualty industry is strong, and should be able to withstand the current price deterioration, according to a new industry study. “The outlook for the next three years –...
S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers
Aug 21 2008 // An aerial photo shows a flooded area of downtown looking North over Cedar Rapids, Iowa, June 13, 2008. Interstate I-380 can be seen on the left while Mays Island, with Cedar Rapids City Hall, is seen on the right with its...
Liberty Mutual Sues New York over Workers’ Comp Law Changes
Aug 19 2008 // Boston-based insurer Liberty Mutual Holding Co. has filed a federal lawsuit challenging several recent amendments to New York State’s workers’ compensation law as unconstitutional. The suit alleges that changes...
As Sewers Age, Canada’s Insurers See Mess of Claims
Aug 18 2008 // The Canadian insurance industry is seeking ways to stem a rising tide of claims for water damage to homes that it says results partly from aging sewer systems that badly need replacement. Some of its response involves...
Ohio Receives $541,000 in Settlement from Health Insurers
Aug 18 2008 // Ohio will receive $541,000 as part of a health insurer’s $20 million settlement of allegations that it misled consumers and mishandled claims. State Department of Insurance Director Mary Jo Hudson said Friday, August...
Insurers Protest Private Lawyers in Former Louisiana AG’s Katrina Case
Aug 18 2008 // A judge in Louisiana has asked a state official to review the validity of private attorneys’ contracts to represent Louisiana’s attorney general in a case over the state’s Road Home hurricane recovery...
U.S. Insurers’ Exposure to Fannie Mae/Freddie Mac Manageable
Aug 18 2008 // The U.S. insurance industry’s exposure to securities issued by Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs) that aid liquidity in the mortgage market, is substantial for a handful of...
California Legislature Passes Agent-Broker Bill
Aug 15 2008 // Assemblyman Joe Coto’s Assembly Bill 2956, which will clarify the duties of an agent versus those of a broker, has passed both the California Assembly and Senate. The bill will now be held at the Assembly desk until...
