Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Best Downgrades Issuer Credit Ratings of QBE’s U.S. Subsidiaries; Affirms FSR
Dec 13 2013 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of the pooled and reinsured members of...
QBE Bond Risk Surges as U.S. Expansion Sours: Australia Credit Risk
Dec 13 2013 // Bond risk on QBE Insurance Group Ltd. halved in the first 11 months of the year before surging this month as the company said it would lose money. Credit-default swaps on QBE have climbed 41 basis points since Nov. 30 to...
Federal Insurance Office Releases Long-Awaited Modernization Report
Dec 12 2013 // After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United...
Florida Insurer to Offer Electric Bicycle Coverage
Dec 12 2013 // A Florida insurance agency has launched a new stand-alone insurance policy designed to cover electric-assisted bicycles. The Fort Lauderdale-based Velosurance Insurance Agency is offering the policy that will cover...
Keefe, Bruyette & Woods Forecasts ‘Soft Insurance Rate Landing’
Dec 12 2013 // U.S. property/casualty insurers’ and brokers’ operating earnings are expected to modestly improve in 2014, and the overall insurance rate increases will “probably moderate into 2015,” said...
Keystone Insurers Group Adds Konen Insurance and Dasco Insurance in Illinois
Dec 12 2013 // Konen Insurance of Aurora, Ill., and Dasco Insurance Agency of Northbrook are now partners in Keystone Insurers Group. The addition of the two agencies increases to four the number of Keystone partners in the state since...
Excess Insurance and Equitable Subrogation: Oklahoma Clarifies Equitable Subrogation Rule
Dec 12 2013 // Most jurisdictions have held that an insurance company with the primary policy owes a duty of good faith and fair dealing to the insurance company with the excess policy requiring a settlement of claims within the primary...
Low Interest Rates Biggest Risk for Europe Insurers, Eiopa Says
Dec 12 2013 // Low interest rates are the biggest risk for European insurers and pension funds, weighing on sales of retirement products, the region’s top industry supervisor said. Interest rates are “putting pressure mostly...
Florida Agents Near Deadline to Accept Citizens’ Appointment
Dec 11 2013 // Florida insurance agencies and agents have just a few days left to decide whether or not to agree to the state-backed property insurer’s new appointment guidelines. Citizens Property Insurance Corp. revamped its...
Florida’s Citizens Delays Launch of Clearinghouse
Dec 11 2013 // Florida’s state-backed property insurer officials announced they are delaying the launch of a new web-based clearinghouse in order to ensure it is working efficiently and to allow more private insurers to...
Mass. AG Coakley Urges Greater Transparency for Auto Insurance Surcharges
Dec 10 2013 // In an effort to implement greater protections and transparency for drivers who face auto insurance surcharges, Massachusetts Attorney General Martha Coakley is urging the state legislature to implement changes to the law...
Frustrated Insurance Brokers Say They Can Help Obamacare If Allowed
Dec 10 2013 // When insurance agent Kelly Fristoe recently spent 30 minutes helping a client pick a mid-level health plan and the federal marketplace website froze, he called the government’s hotline and tried to finish the...
Title Insurer Fidelity National Weighs Selling Assets
Dec 10 2013 // Fidelity National Financial Inc., the title insurer that also has restaurant businesses and an auto parts company, hired JPMorgan Chase & Co. to review possible divestitures of assets. The insurer will consider...
Iowa Insurer Pokes Fun at Federal Website in Ads
Dec 9 2013 // The television ads produced by a Midwest insurance company show a series of medical mishaps: a man kicking the wrong leg in a reflex check, a urine sample bottle that won’t open for a frustrated patient and a blood...
Texas to Workers’ Comp Carriers: Direction of Care for Pharmacy Services Prohibited
Dec 9 2013 // The Texas Department of Insurance Division of Workers’ Compensation has sent a reminder to Texas workers’ compensation system participants that insurance carriers, including their agents, are prohibited from...
New York Insurers Predict Spike in Health Exchange Use
Dec 6 2013 // Two start-up insurers in the New York health exchange, one promising unlimited telemedicine, say customer queries have been rising rapidly and they expect enrollment spikes by the new Dec. 23 deadline for coverage next...
Travelers Sues British Insurance Company Over Umbrella-Shaped Logo
Dec 5 2013 // The Travelers Companies recently sued London, U.K.-headquartered financial services and insurance company Legal & General Group PLC (L&G Group) and its affiliates over the British company’s use of an...
Insurer Geico Plans to Add Up to 1,000 Texas Jobs
Dec 5 2013 // The insurance company Geico plans to open a claims center in suburban Houston that will employ up to 1,000 people. The company announced that the positions will range from entry-level to what Geico describes as...
U.K. Insurers to Invest $41 Billion in Infrastructure
Dec 4 2013 // The U.K.’s largest insurance companies will invest £25 billion ($41 billion) in infrastructure, as the government prepares to update its plan for projects from energy and transport to communications. The government...
MTA’s Captive Insurer FMTAC Comments on Coverages for Train Derailment
Dec 3 2013 // New York’s Metropolitan Transportation Authority (MTA) has a wholly owned insurance subsidiary, a captive insurer called the First Mutual Transportation Assurance Company (FMTAC), that will provide part of the...
