Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Nationwide Insurance Pushes to Include Flood Coverage in Home Policies
Jun 27 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...
West Virginia Workers’ Comp Insurer Working to Pay off State Loan Early
Jun 27 2008 // The sole provider of workers’ compensation insurance in West Virginia plans to make an early $60 million payment on a $200 million startup loan from the state. Greg Burton, BrickStreet Mutual Insurance Co.’s...
Insurance Companies Help Arizona Teen Drivers Prepare for License Requirements
Jun 26 2008 // Auto insurance companies are supporting parents and teens with driving safety programs as the Arizona Teen Driver Safety Act goes into effect July 1. With the new law, teen driversin the state will have new requirements to...
S&P: Rising Claims, Competition Squeeze Canadian P/C Insurers
Jun 26 2008 // “Lack of premium growth nationwide and diminished results in the Ontario auto segment restrained results for Canadian property and casualty insurers in the past year,” according to a newly published report from...
Insurers, Tech Firms, Consumers Agree on Electronic Health Record Rules
Jun 26 2008 // A major consumer group, insurers together with Google Inc. and Microsoft Corp. said Wednesday they have agreed to standards intended to speed adoption of personal electronic health records. The electronic medical record...
Insurers Accuse Florida Regulators of Changing Rules in Mid-stream
Jun 26 2008 // The National Association of Mutual Insurance Companies said a seemingly innocuous rule change proposed for Florida’s insurance system could further dissuade insurance companies from doing business in the state. The...
Insurers and Agents Applaud New York Auto Rating Change
Jun 26 2008 // Trade groups for New York insurers and agents alike are praising a recently passed bill by state lawmakers that will allow auto insurers to raise or lower their rates by 5 percent over the course of a year without first...
P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter
Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...
Strengths and Weaknesses, Part 1: What Agents Think of Regional, National P/C Insurers
Jun 25 2008 // Regional carriers rate better in underwriting experience, relationships and stability as well as in customer service and agency relations than their national competitors in the view of independent agents. Regional insurers...
Home Insurers Bitten by $350M in Dog Claims; Average Claim Tops $24K
Jun 25 2008 // Man’s best friend is sinking its teeth into homeowners insurance costs. Dog bites now account for one-third of all homeowners insurance liability claims, costing $356.2 million in 2007, up 10.5 percent from the...
Captive Ratings: American Road, First Beacon, Toyota Motor, Agrinational
Jun 25 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of The American Road Insurance Company (TARIC), but with negative outlooks. “The...
Demotech, IJ Salute 152 Super Regional P/C Insurers
Jun 24 2008 // There are 152 Super Regional Property/Casualty Insurers™ in the country, with American Family Mutual Insurance Co. at the top of the list. This year marks the second year that the actuarial services firm Demotech...
Oregon Publishes Annual Insurance Complaint Statistics
Jun 24 2008 // Oregon’s Department of Consumer and Business Services Insurance Division has published the 2007 Annual Complaint Statistics, ranking major insurers based on their complaint records in six common lines of insurance:...
Lloyd’s Notes Growth of Insurance Linked Securities Market
Jun 24 2008 // “Convergence between the capital and insurance markets is gaining pace and Lloyd’s insurers are at the forefront of developments,” notes an article on the Lloyd’s web site (www.lloyds.com). The...
Best Announces Rating Actions of 53 Canadian Insurers
Jun 23 2008 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of 30 Canadian P/C companies; upgraded seven FSRs and ICRs; upgraded seven ICRs (with no change to the FSRs); assigned four...
California Considering Pay-As-You-Drive Auto Insurance
Jun 23 2008 // California’s Department of Insurance is hosting a workshop at 10 a.m., Monday, June 23, 2008, to solicit input on bringing “pay-as-you-drive” automobile insurance to the state. According to the DOI,...
California Senate Approves Agent-Broker, Spyware Bills
Jun 20 2008 // California’s Senate Banking, Finance and Insurance Committee approved two bills — one allowing insurance cmpanies to require spyware to be installed in vehicles, and the other clarifying the duties of an agent...
Analyst Sees U.S. Insurers’ Q2 Hurt by Flood Claims
Jun 19 2008 // A group of insurers who cover farmers in the event of catastrophe-driven losses are facing their worst claims in 15 years due to flooding in the Midwest, said a Lehman Brothers analyst, who cut second-quarter earnings...
Illinois, Iowa Join Indiana in Moratorium on Policy Cancellations
Jun 18 2008 // The Illinois and Iowa Insurance Departments have implemented a 60-day moratorium on the cancellation and nonrenewal of insurance policies for people who live in counties affected by the recent storms and flooding. Indiana...
Insurers Could Be Hit by U.S. Midwest Crop Loss Claims
Jun 17 2008 // Insurers who sell coverage compensating farmers in the event of damage to their crops could be hit by claims from severe flooding in parts of the U.S. Midwest, according to an analyst report. While it is too soon to know...
