Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Switzerland Is 1st Nation to Lift Iran Sanctions; Re/Insurer Policies Affected
Aug 13 2015 // Switzerland is lifting sanctions against Iran after the Gulf state sealed a historic accord with world powers to curb its nuclear program. The move on Wednesday made it the first nation to remove sanctions since the July...
UK Regulator Toughens Rules to Hold Insurers’ Execs Responsible for Failures
Aug 13 2015 // UK insurers face tougher conduct rules as the Financial Conduct Authority makes it easier to hold individuals at financial firms to account for failures on their watch. The FCA issued final rules on Thursday amending its...
Florida Approves Removal of Up to 280,857 Policies From Citizens
Aug 12 2015 // The Florida Office of Insurance Regulation announced today that it has approved the removal of up to 279,357 personal residential policies and 1,500 commercial residential polices from Citizens Property Insurance...
A.M. Best: Sanctions Removal to Attract Re/Insurers to Iranian Market
Aug 12 2015 // The lifting of trade restrictions placed on Iran may present significant opportunities for the Middle East and North African (MENA) re/insurance market, with European participants also expected to re-engage and seek a...
AIG, Other Insurers Avoid Offering Cover for Tax Risks in Indian M&As
Aug 11 2015 // Prime Minister Narendra Modi needs to offer much more than just his best intentions to clean up India’s whimsical tax regime to help convince insurers. Companies from Allianz SE to American International Group Inc....
Attorney: Hail Claims ‘Cottage Industry’ Bad News for Texas
Aug 10 2015 // The rise of rampant claims litigation against property insurers following hailstorms in Texas has created a “cottage industry” that not only threatens the financial health of the state’s property...
Court Decision May Impact Workers’ Comp Side Agreements in California
Aug 7 2015 // A recent court decision may have the potential to change the practice of side agreements in workers’ compensation policies California, a practice that some say often goes on under the regulatory radar. Zurich...
Europe’s ABS Market Promotion Hinges on Easing Insurers’ Capital Requirements
Aug 6 2015 // Europe’s push to promote asset-backed securities (ABS) hinges on persuading insurers to buy the debt by easing capital requirements, investors and analysts said. European Union and global regulators recently proposed...
Florida Updates Neutral Evaluation Rules for Sinkhole Claim Disputes
Aug 6 2015 // Powered by InsuranceJournal.tv New rules changing the way disputed sinkhole claims are handled in Florida as part of the state’s Sinkhole Neutral Evaluation Program have been approved and took effect July 27. The...
AIG Focuses on Integrating Japan Businesses, Rather Than Additional M&As
Aug 5 2015 // American International Group Inc. plans to sit out the unprecedented wave of insurance industry deal-making and instead focus on integrating businesses in Japan. The timetable for merging AIU with Fuji Fire & Marine...
Texas Seeks Comment on Rules for Changes to Windstorm Insurer
Aug 4 2015 // The Texas Department of Insurance is seeking public comment on drafts of rules for implementing legislation that alters funding mechanisms for the state’s property insurer of last resort for wind and hail along the...
Va.’s Roanoke Valley Considers Insurer-Funded Collision Reporting Center
Aug 4 2015 // Police in four Roanoke Valley localities in Virginia have proposed adopting a Canadian method of reporting car crashes that reduces police involvement. The Roanoke Times reports that if the governments of Roanoke, Salem,...
Insurers Face Risks of Declining Customer Loyalty, Tech-Savvy Firms: Accenture
Aug 4 2015 // Insurers are not keeping up with rising customer expectations and will need to offer more innovative products and ally with some nontraditional partners to catch up and to keep more digital-savvy firms from stealing their...
Arizona Supreme Court Ruling May Expose Agents to Lawsuits
Aug 3 2015 // An Arizona Supreme Court ruling in July may expose agents who write auto policies to malpractice lawsuits if they are accused of failing to inform their customers about uninsured and underinsured motorists coverage —...
Former Arkansas Insurance Company Exec Sentenced for Embezzlement
Aug 3 2015 // The former president of a Little Rock, Ark.-based insurance company was sentenced in July to one year and one day in prison for embezzlement. John Mathis “Matt” Lile, III, of Little Rock, the former president...
Insurers Unprepared for Self-Driving Car Disruption: KPMG
Aug 3 2015 // The majority of property/casualty insurers do not expect autonomous or self-driving vehicles to have a real impact on their auto insurance business for another decade and have not adjusted their business models to prepare...
Evolving Consumer Base Is Changing Personal Lines: Conning
Aug 3 2015 // There are “far-reaching implications” for personal lines insurers and the products and services they provide as the U.S. continues to undergo changes in its demographic structure, an industry report states. The...
The Doctors Co. Challenges Florida’s Order to Decrease Med Mal Rates
Aug 3 2015 // An order by the Florida Office of Insurance Regulation for medical malpractice insurer The Doctors Co. (TDC) to decrease its rates by 15 percent is being contested by the California-based company. A hearing has been set...
A.M. Best: Will 2015 Be the Year That Tests Florida Property Insurers?
Aug 3 2015 // The property insurance market in Florida has significantly shifted in market share as Citizens Property Insurance Corp. (Citizens)–the state-run property insurance company–continues to depopulate and move...
The Ins and Outs of Bad Faith Claims in Florida
Aug 3 2015 // Coverage, liability and damages analyses are the three common themes of Florida third party bad faith cases, according to two southeast Cozen O’Connor attorneys. The attorneys presented on the subject during a...
