Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Michigan Bill Limiting Lawsuits Against Insurers Sent to Governor
Jul 7 2014 // A bill approved by Michigan Legislature that further limits certain consumer lawsuits against insurance companies under the state’s Consumer Protection Act has been sent to Gov. Rick Snyder for his signature. The...
Uber, Lyft, Sidecar Toe-to-Toe With Insurers State-by-State
Jul 7 2014 // The share-and-share-alike attitude considered a virtue by some has become fighting words between ridesharing companies and the insurance industry. “We try not to make it a battle,” says Robert Passmore, senior...
Getting a Grip on Ridesharing Coverage
Jul 7 2014 // Ridesharing services are becoming increasingly popular among consumers looking for a more convenient alternative to taxis or other forms of public transportation, and startup ridesharing companies have been cropping up...
The Strange Case of the Use and Abuse of Insurance Ratings
Jul 7 2014 // Ratings, and rating agencies, occupy a contradictory place in many markets – not least in commercial lines insurance and reinsurance. They are very heavily relied on by both buyers and brokers, yet subject to a great...
Hidden Perils of California’s Proposed Health Insurance Price Controls
Jul 7 2014 // In November, California voters will decide whether to implement state government price controls on health insurance. Insurance agents and brokers are certain to be asked by their clients whether this ballot measure merits...
Insurers’ Yield on Investments Lowest Since 1965
Jul 6 2014 // Warren Buffett had just taken control of Berkshire Hathaway Inc., a textile maker he would build into one of the world’s largest insurers, the last time U.S. property/casualty carriers endured such low interest...
P/C Insurers’ Profit Dipped in Q1
Jul 6 2014 // Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net...
Insurers Suspect Fraud, Sue Phillips Asbestos Trust
Jul 6 2014 // Six insurance companies are suing an asbestos personal injury trust set up by a U.S. unit of Philips that the insurers suspect has been making millions of dollars in fraudulent payments to parties that cannot prove they...
How Insurers Would Wind Down If Needed to Avoid Future Bailout
Jul 3 2014 // American International Group Inc. and Prudential Financial Inc. told regulators they could divest units and halt policy sales to avoid taking a bailout in a future crisis. AIG, the insurer that repaid a U.S. rescue in...
Insurers See Rise in Severity of Lawyers’ Malpractice Claims: Ames & Gough
Jul 2 2014 // Although the frequency of law firm malpractice claims has begun to level off following a post-recession surge, their severity has continued to increase. A study by insurance broker Ames & Gough finds most leading legal...
Private Insurers Taking to South Carolina Coast; Windpool on Decline
Jul 2 2014 // More private insurers are selling wind coverage to South Carolina coastal property owners, leading to a decline in the population of the state’s windpool. The South Carolina Wind and Hail Underwriting Association...
R.I.’s Narragansett Bay Insurance Company Announces 13 Promotions
Jul 1 2014 // Narragansett Bay Insurance Company in Pawtucket, Rhode Island, has announced 13 promotions. The employees promoted, their hometowns and their new positions are listed below. All employees are based in the Pawtucket...
AmTrust to Acquire Florida Workers’ Comp Insurer OptaComp
Jun 30 2014 // AmTrust Financial Services Inc. announced that it has agreed to purchase Comp Options Insurance Co. Inc., a Jacksonville, Florida-based workers’ compensation insurer and a subsidiary of Blue Cross & Blue Shield...
Uber, Lyft, Sidecar Toe-to-Toe With Insurers State-by-State
Jun 27 2014 // The share-and-share-alike attitude considered a virtue by some has the potential to create a rift between between ridesharing companies and insurance companies. “We try not to make it a battle,” said Robert...
Large Michigan Health Insurers Seeking Big Rate Increases in 2015
Jun 27 2014 // Most people buying their own health insurance in Michigan could see near double-digit premium increases next year. State insurance regulators said that dominant insurers Blue Care Network and Blue Cross Blue Shield want to...
Detroit Bankruptcy Judge Rejects Insurer Requests
Jun 27 2014 // Detroit overcame efforts by bond insurers that might have slowed its plan to exit bankruptcy before the end of the year, while the judge on the case said he was open to taking a bus tour to see what shape the city’s...
Bond Insurer Syncora Fighting City’s Plans in Detroit Bankruptcy
Jun 26 2014 // Bond insurer Syncora Guarantee Inc has emerged as Detroit, Mich.’s chief nemesis in the city’s historic bankruptcy case and is fighting as if its financial life depends on a decent recovery on its $400 million...
Polish Insurer PZU Selling Eurobonds to Buy RSA Units
Jun 26 2014 // PZU SA, Poland’s biggest insurer, is selling 500 million euros ($681 million) of five-year bonds to help finance an acquisition. The state-controlled insurer is tapping the market after the European Central Bank cut...
U.S. Insurance Regulators May Refuse to Apply Global Capital Rules: NAIC President-Elect Lindeen
Jun 25 2014 // The United States may refuse to apply new global capital rules in the world’s biggest insurance market because of the “breakneck speed” they are being pushed through, American regulators said on...
Insurers Could Face Suits Over Fannie-Freddie Insurance Prices
Jun 25 2014 // The regulator of Fannie Mae and Freddie Mac will consider suing insurers who charged excessive fees for hazard coverage paid by the two government-owned mortgage companies, an auditor’s report said. Fannie Mae and...
