Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
New Jersey Transit Sues Insurers Over Sandy Losses, Seeks $300M
Oct 8 2014 // New Jersey Transit, the nation’s third-largest bus, rail and light rail transportation provider, is suing several excess insurers to recoup additional $300 million for Superstorm Sandy losses. NJ Transit says its...
Insurer Rate Filings Now Available Online in Oklahoma
Oct 8 2014 // Oklahomans can learn more about insurance company filings by using a new online tool that contains rate filings for property, casualty, life and health insurance products, the Oklahoma Insurance Department...
High Net Worth Insurer, Crestbrook, Expands into Indiana
Oct 8 2014 // Crestbrook Insurance Co., an affluent market personal lines offering from Nationwide, announced its expansion into Indiana. Crestbrook offers insurance products through appointed agents and brokers that address the unique...
Local Governments May Be Affected by Breach at Bond Insurer MBIA
Oct 8 2014 // Bond insurer MBIA was told two weeks ago about a server breach that compromised the data of thousands of local U.S. government entities, but it did not address the problem until earlier this week, according to the cyber...
Southern California Agent Arrested For Scamming Insurers For $1.4M
Oct 6 2014 // Eric Lee, 64, of Orange County, Calif., was arrested last week by the California Department of Insurance and charged with 20 felony counts, including grand theft and allegedly providing false or misleading information to...
Louisiana’s 37-acre Sinkhole Spawns Insurance Fight
Oct 6 2014 // The collapse of a portion of a salt dome that left a 37-acre sinkhole in swampy land west of Baton Rouge has bubbled up into a $50 million dispute between the mine operator and its insurance company. Texas Brine LLC wants...
P/C Insurers’ Net Income Rose, Operating Income Fell in First Half
Oct 6 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
New Charges Brought Against Ex-Insurer CEO
Oct 6 2014 // New charges have been brought against a Maryland businessman accused of making false statements to regulators. A federal grand jury in Baltimore on Sept. 16 returned a superseding indictment against 39-year-old Jeffrey...
Amtrak Seeks to Recoup Millions for Sandy Losses
Oct 6 2014 // Amtrak filed a lawsuit last month against more than a dozen insurers, claiming that the railroad operator is entitled to recoup additional proceeds for Superstorm Sandy losses from its insurers. “Amtrak has filed a...
Plenty of Questions Remain About Citizens Clearinghouse
Oct 6 2014 // Florida’s state-backed property insurer has begun submitting renewal policies through its online clearinghouse to private carriers, but agents believe the process still needs refinement. Citizens Property Insurance...
A Review of Insurance Broker Duties Under California Law
Oct 6 2014 // Recently the California Court of Appeals provided an excellent summary of the duties of insurance agents and brokers under California law. See Mark Tanner Const., Inc. v. HUB Int’l. Ins. Services, Inc., 224...
Insurer USAA Seeks OK to Test Drones for Claims Service
Oct 3 2014 // United Services Automobile Association (USAA), the insurer that specializes in coverage for military families, has filed for permission from the Federal Aviation Administration (FAA) to use unmanned drone aircraft at...
Ohio Supreme Court Says Ambiguity Determination Must Consider Context
Oct 2 2014 // The general rule holds that when a policy provision is susceptible to more than one interpretation courts should construe the ambiguity against the insurer and liberally in favor of the insured. This principle is often...
‘Ike Contingent’ Pounding Insurers with Texas Hail Claims
Oct 2 2014 // Insurance availability crises are nothing new. Nor is finger-pointing about what exactly causes them. In Texas, a red state that is nonetheless home to a robust plaintiffs’ bar, sparring in a particularly active...
Novato, Insurer Others Settle Suit Over California Girl Killed By SUV
Oct 2 2014 // The city of Novato and other defendants have settled a lawsuit by the family of a 12-year-old California girl who was struck and killed by a SUV while riding her bicycle home from school two years ago. The Marin...
Florida Workers’ Compensation Insurers Seek Bigger Rate Cut
Oct 2 2014 // Florida’s workers’ compensation insurers, already on record recommending an average 2.5 percent cut in rates, now say that a 3.3 percent cut is justified. The modification in the industry’s rate filing by...
Texas Windstorm Insurer Says Finances Are Shaping Up
Oct 1 2014 // Texas Windstorm Insurance Association (TWIA) announced it has successfully obtained $500 million in funds to assist in paying future catastrophic claims and that the association is now in its best financial position since...
Marijuana Insurance Industry: How High Can It Go?
Oct 1 2014 // Editor’s Note: This is the first in a series of articles on the the marijuana insurance industry to appear on InsuranceJournal.com. Upcoming stories will include reports on how medical marijuana could affect the...
Federal Reserve to Study Effect of Banks’ Systemic Risk Rules on Insurers
Oct 1 2014 // The U.S. Federal Reserve on Tuesday announced plans to study the potential effects of forcing big insurance companies to meet tough funding restrictions required by the 2010 Dodd-Frank law. The Wall Street oversight law...
Danish FSA Warns Insurers, Banks About Risky Bond Sales
Oct 1 2014 // Denmark’s financial watchdog warned lenders and insurers against selling their riskiest bonds to their own retail clients amid signs Scandinavian issuers are lining up to tap the market for contingent...
