Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Top 3 Trends for P/C Insurers: Deloitte
Jan 9 2014 // Property/casualty insurers should be thinking about transforming how they do business and how they can better deploy technology if they want to pursue long-term growth, according to the Deloitte Center for Financial...
North Carolina Rate Bureau Stands By 25.3% Home Insurance Bid
Jan 7 2014 // Despite urging by the state’s insurance commissioner that they withdraw their bid, North Carolina homeowners insurers are unlikely to withdraw their request for a 25.3 percent average rate hike. The data supports the...
North Carolina Regulator ‘Appalled’ at Home Insurers’ Request for 25% Rate Hike
Jan 5 2014 // North Carolina Insurance Commissioner Wayne Goodwin has called upon insurers in his state to withdraw a request for a 25.3 percent rate hike for homeowners insurance, saying he is “appalled” they would seek a...
North Carolina Licenses Four Captives
Jan 3 2014 // North Carolina Insurance Commissioner Wayne Goodwin said his agency has issued four captive insurance company licenses since the state’s Captive Insurance Act went into effect in late October 2013. The new North...
Keystone Insurers Group Adds Brennan & Stuart Inc. as Partner in Illinois
Jan 2 2014 // Brennan & Stuart Inc. of La Salle, Ill., is Keystone Insurers Group’s newest franchise partner in Illinois. Harold Brennan started Brennan & Stuart Inc. (BSI) as a family business in 1956. CEO Jerry Stuart...
Circle These Dates: Health Law’s Key Tests in 2014
Dec 31 2013 // The new year brings the big test of President Barack Obama’s beleaguered health care law: Will it work? The heart of the law springs to life Wednesday, after nearly four years of political turmoil and three months of...
2013 in Review: Most Popular Insurance Stories From East
Dec 30 2013 // As 2013 winds down, Insurance Journal takes a look back at the most popular news headlines of the year. In the East region, Superstorm Sandy’s aftermath and the challenges of recovering and rebuilding were a major...
Insurer Sued in New York for Canceling, Reissuing Flood Policies After Claim
Dec 27 2013 // Fidelity National Property & Casualty Insurance Co. was recently sued in a New York court over flood insurance policies. The suit alleges the insurer retroactively canceled flood policies for Dayton Towers...
P/C Insurers Boost Bottom Line on Big Gain in Underwriting Through 9 Months
Dec 23 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months 2012, with insurers’ overall profitability as measured by their...
TVA to Get $150M More for Coal Ash Spill Cleanup from Insurer
Dec 23 2013 // The Tennessee Valley Authority said it will receive another $150 million from an insurance company to help pay for the ongoing cleanup of the 2008 coal ash spill in Kingston, Tenn. ACE Bermuda Insurance Ltd. will pay TVA...
Best Downgrades Tower Group and Subs Ratings; Under Review/Negative
Dec 23 2013 // Last Friday, A.M. Best Co. downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower U.S. Pool. A.M. Best said the downgrade and other related actions take...
New Jersey Chiropractor Sentenced in $89K Insurance Fraud
Dec 22 2013 // A northern New Jersey chiropractor was sentenced to state prison for causing false documentation to be submitted to insurance companies and subsequently receiving over $89,000 to which he was not entitled. Joseph Salomone,...
Insurance Questions, Lawsuits Arise in Wake of Target’s Data Breach
Dec 22 2013 // U.S. retail giant Target Corp. is busy dealing with the aftermath of the massive data breach that exposed account details of some 40 million credit and debit cards. Already, at least two lawsuits seeking class-action...
‘Three Cups’ Insurer Lawsuit In Montana Dismissed
Dec 20 2013 // A judge has dismissed a lawsuit by the charity co-founded by “Three Cups of Tea” author Greg Mortenson against an insurance company. U.S. District Judge Dana Christensen dismissed the lawsuit Thursday, more...
Obama Exempts Canceled Policyholders from Individual Mandate
Dec 20 2013 // Americans whose health plans are being canceled because their coverage doesn’t meet Obamacare rules will be exempt from the mandate that they carry insurance, under a change announced by the Obama...
Best Affirms CNA Financial and Subs’ Ratings; Outlook Stable
Dec 20 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of CNA Financial Corporation (CNAF),...
Florida Lawmakers Unveil Plan to Encourage Private Market for Flood Insurance
Dec 19 2013 // With the chances of a federal solution to rising flood insurance rates waning by the day, Florida lawmakers are pressing forward with a bill to create a private market solution to the problem. Florida State Senator Jeff...
Agents Say Getting More Carriers to Offer ‘Real Time’ Is Among Top Tech Priorities
Dec 19 2013 // The industry should place its highest priority on “getting additional carriers to offer real-time capabilities,” according to a survey of insurance agency and brokerage professionals in the United States and...
As Bond Insurers Drop Objections, Detroit Bankruptcy Progresses
Dec 18 2013 // Detroit’s path through bankruptcy began to take shape on Dec. 17, with a second bond insurance firm ready to drop its objections to a controversial city financing plan, joining another bond insurer, bondholders and a...
Death Spiral Unlikely for Obamacare: Study
Dec 18 2013 // A threat to America’s health insurance overhaul has been that young people would not buy coverage in new marketplaces, possibly pushing the program into a disastrous spiral of falling enrollment and rising...
