Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Ohio Warns Insurers Against Using Price Optimization in Premium Rating
Feb 23 2015 // Lieutenant Governor and Department of Insurance Director Mary Taylor has warned insurance companies operating in Ohio against the use of price optimization that can result in unfair discrimination. On Jan. 29 Taylor issued...
Montana Licensed 34 Captive Insurance Companies in 2014
Feb 23 2015 // State insurance department officials report that Montana licensed 34 new captive insurance companies in 2014, bringing the state’s total number of licensed captives to 177. In addition to the 34 new captive insurance...
Heading a National Ridesharing Outline a Political Gain for Jones?
Feb 23 2015 // A committee of regulators led by California Insurance Commissioner Dave Jones is working on standards on ridesharing that departments of insurance in states across the U.S. can look to as an example. Whether the National...
5 Things to Consider When Insuring Yachts
Feb 23 2015 // Driving by a marina or boatyard, most of us admire the beautiful yachts, and may even daydream about a weekend on the water. Insurance agents likely also envision easily selling coverage to recreational boating customers....
Ex-Oppenheimer Exec Admits to Role in Sinking Oklahoma Insurer
Feb 22 2015 // A former Oppenheimer & Co. Inc. executive pleaded guilty to participating in a fraud that the U.S. says led to the collapse of an Oklahoma insurance company. Allen Reichman, 55, told a Manhattan judge that he and...
Mutual Insurers Group Names Minnesota’s Sen. Metzen Legislator of Year
Feb 20 2015 // The National Association of Mutual Insurance Companies has presented its State Legislator of the Year Award to Minnesota state Sen. James Metzen. NAMIC said it honored Metzen for his support of free-market principles and...
FEMA Shows Some Progress Implementing Flood Insurance Changes: GAO
Feb 20 2015 // The agency responsible for managing the federal flood insurance program has made progress in carrying out key changes mandated by Congress in two recent laws but lacks resources and data to completely implement others, a...
Google to Face Same Obstacles Selling Insurance Online, Says Overstock’s Byrne
Feb 20 2015 // Those now running comparison insurance shopping websites believe that they could be helped if Google enters into the business because the giant search engine could draw more attention to buying insurance online. However,...
FEMA in Talks to Settle Sandy Flood Insurance Claims
Feb 19 2015 // The Federal Emergency Management Agency is working to settle lawsuits by hundreds of Hurricane Sandy victims who challenged denials or alleged underpayments of flood insurance claims. Brad Kieserman, deputy associate...
Delaware Licensed 87 New Captive Insurers in 2014
Feb 18 2015 // Last year was another record-setting year for Delaware’s captive insurance industry, the state’s Insurance Commissioner Karen Weldin Stewart recently announced. Delaware’s captive bureau licensed 87...
California Commissioner Tells Insurers to Cease Price Optimization
Feb 18 2015 // California Insurance Commissioner Dave Jones on Wednesday issued a notice to property/casualty insurers doing business in California advising them that so-called “price optimization” in rate making is unfairly...
Treasury Troubled by Smaller Firms Not Buying Cyber Insurance
Feb 18 2015 // While the overall cyber risk insurance market is growing tremendously, larger corporate clients have driven much of the expansion. Smaller companies, on the other hand, have not followed suit, Deputy U.S. Treasury...
A.M. Best: European (Re)Insurers Face Pressure Points; Ratings Are Stable
Feb 18 2015 // The recent unveiling by the European Central Bank (ECB) of its large-scale sovereign bond buying program is just one of the pressure points building in Europe that could affect insurers and reinsurers’ balance...
Reports Show Insurers Lag Behind in Adopting Technology
Feb 17 2015 // At a time when the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are using developments...
Armstrong Hit with $10M Sanction in Dispute with Texas Promotions Insurer
Feb 16 2015 // Dallas-based SCA Promotions Inc., a specialist in insuring prizes, promotions and contests, announced that Lance Armstrong has been hit with a $10 million sanctions award by an arbitration panel hearing his dispute with...
U.S. Issues Draft Rules on Commercial Use of Drones; Insurers Welcome
Feb 16 2015 // The U.S. aviation regulator proposed rules on Sunday for commercial drone flights that would lift some restrictions but would still bar activities such as the delivery of packages and inspection of pipelines that have been...
Insurer Hit With $4.5M Class Action Bad Faith Verdict in Nevada
Feb 13 2015 // Everest Indemnity Insurance Co. was hit with a $4.5 million verdict after a Nevada state court jury on Thursday said the insurer acted in bad faith by refusing to cover a construction company’s defense costs in a...
Insurers Brace for Claims as More Snow Expected to Hit Storm-Weary Boston
Feb 13 2015 // Since the first winter storm hit Boston at the end of January, the city has removed over 10,000 truckloads of snow after a record six feet of snowfall in the last 30 days — breaking the previous record of 58.5...
Best Sees Minimal Rating Impact from Tax Changes on Reinsurance
Feb 13 2015 // A.M. Best has weighed into the ongoing debate over whether or not the ability of “foreign” reinsurers to avoid significant amounts of U.S. taxes by transferring reinsurance premiums paid to foreign affiliates...
Climate Change Regulations for Insurers Not Out of Realm of Possibility
Feb 12 2015 // Some sort of climate change regulation for the insurance industry could be just around the corner. Then again, it might not be. It’s a tossup in the eyes of Don Reed, a managing director in...
