Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Munich Re to Acquire Aon’s Healthcare Insurer Sterling for $352 Million
Dec 17 2007 // Munich Re is also buying a slightly smaller piece of Aon (See previous article). The world’s second largest reinsurer announced that it has concluded an agreement with Aon to acquire 100 percent of Sterling Life...
Companies Suing West Va. Insurer BrickStreet Over Agent Commissions
Dec 17 2007 // Two companies are suing West Virginia’s workers’ compensation writer BrickStreet Mutual Insurance Co. over agent commissions. Aero-Fab Inc. and The Bunch Co. allege that Brickstreet is billing companies for the...
Survey of Analysts Projects Healthy Underwriting Profits
Dec 17 2007 // Next year may just go down on record as one of the best insurance industry underwriting performances in the past 80 years, according to an industry survey of Wall Street stock analysts and industry professionals. Analysts...
California Fines Health Insurer Blue Shield $12.6 Million
Dec 14 2007 // California Insurance Commissioner Steve Poizner is seeking $12.6 million in fines and penalties against health insurer Blue Shield for violations regarding healthcare rescissions and irresponsible claims processing. The...
Best Upgrades Company Ratings after Country Risk Methodology Review
Dec 14 2007 // A.M. Best Co. announced that it has upgraded the ratings of a nember of companies -l isted below – following a review of the application of its country risk methodology within the rating process. Best explained that...
A.M. Best: Subprime Exposure Modest, But Contagion Is Concern
Dec 14 2007 // As the turmoil from the subprime crisis ripples across the global credit and equity markets and threatens the stability of the U.S. economy, several insurers have announced their exposure to mortgage-linked assets in their...
Ark. Woman Settles with Insurer in Agent Theft Case
Dec 12 2007 // A settlement in the amount of $435,298.25 has been reached between Reba Irons of Fort Smith, Ark., and Allianz Life Insurance Company of North America in a case involving John Phillip Middleton, an insurance agent who sold...
La. Workers’ Comp Insurer Promotes Jorgensen
Dec 12 2007 // Louisiana Workers’ Compensation Corporation (LWCC) has promoted Geoff Jorgensen to business unit manager for the company’s small accounts production team. In this position, Jorgensen will be responsible for...
Grimstad to Lead La. Medical Liability Insurer as President, CEO
Dec 11 2007 // The Louisiana Medical Mutual Insurance Company (LAMMICO) Board of Directors elected Thomas H. Grimstad, M.D., as its new president and chief executive officer. Dr. Grimstad will succeed John E. Lemoine, M.D., effective...
Study: California Workers’ Comp Insurer Needs Significant Reforms
Dec 11 2007 // California’s State Compensation Insurance Fund “has weak corporate governance, inadequate internal controls in various areas and a general inability to plan for the long-term,” according to an operational...
Several Mass. Auto Insurers under Pressure to Amend Rates for 2008
Dec 11 2007 // At least three insurers whose 2008 Massachusetts auto insurance rates have been questioned by officials have agreed to revise them and other insurers are under pressure to do the same. Massachusetts Insurance Commissioner...
S.C.-based Insurer Adds Ashley as Controller
Dec 7 2007 // Upstate South Carolina-based insurance agent/brokerage and consulting firm, Rosenfeld Einstein, recently added Neal Ashley as controller. Ashley is a practicing certified public accountant and holds both B.A. and...
Mich. Court’s Ruling: Insurer to Pay Sterling Heights More than $14 Million
Dec 7 2007 // United States District Court Judge Nancy G. Edmunds of the Eastern District of Michigan in a final judgment ordered United National Insurance Co. to pay the city of Sterling Heights $14,640,632.90 plus taxable costs as...
Florida Adopts Program to Improve Handling of Insurer Failures
Dec 4 2007 // Florida is the first state to implement a program that officials say will improve services and save money in the administration of insurance company receiverships, according to the state’s Chief Financial Officer...
U.S. Personal Lines Insurers Trying To Maintain Profits In Softening Market
Dec 4 2007 // U.S. personal lines insurance sector is at a critical juncture, according to an article published by Standard & Poor’s Ratings Services. The article, which is titled “2008 U.S. Personal Lines Outlook: A...
Federal Government Sues Ship Owner, Pilot, Insurer over Bay Oil Spill
Dec 3 2007 // The Justice Department filed a lawsuit accusing the pilot and the Hong Kong-based owners of the container ship Cosco Busan of breaking environmental laws when the ship struck a bridge support in San Francisco Bay, spilling...
Mass. Auto Insurers Get Into Gear for Competition
Dec 2 2007 // Most plan to cut rates as state moves ahead with plan for managed competition for 2008 Auto insurance carriers are looking to compete by rewarding drivers with good driving records, good grades, hybrid vehicles, property...
Texas Supreme Court Shakes up Outlook for Co-insurers at Odds
Dec 2 2007 // Overpaying insurer may not always have cause of action against underpaying company It is common for an insured to have two insurers cover the same risk. When the insured is sued regarding that risk, both insurers have a...
Communication is Key When Managing Program Contracts
Dec 2 2007 // The insurance industry survives on relationships built between agents and carriers. The two parties can strive for a harmonious partnership with few problems. Yet when communications break down and there are disagreements,...
Guaranty Fund System Continues to Deliver
Dec 2 2007 // Funds fulfill statutory promise to protect policyholders At the heart of every property and casualty insurance contract lies a promise to soften the blow of misfortune. But what happens when an insurance company becomes...
