Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
‘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...
Sompo Japan to Buy UK Insurer Canopius in Overseas Expansion Drive
Dec 18 2013 // Sompo Japan Insurance Inc., a unit of Japan’s third-largest casualty insurer group by market value, confirmed earlier reports that it will buy Canopius Group Ltd. of the U.K. for 99.2 billion yen ($963 million) as it...
Universal, Fireman’s Fund Seek ‘Fast and Furious’ Solution
Dec 17 2013 // When “Fast And Furious” star Paul Walker died and left the seventh film in the franchise hanging in the balance, it wasn’t the first time a studio and its insurer faced such a situation, but the point at...
Court: Insurance Company Exempt in Wisconsin Shooting Death
Dec 17 2013 // A Sheboygan insurance company is exempt from having to pay after a man accidentally killed his friend in Oconto County three years ago, a Wisconsin appeals court has ruled. The 3rd District Court of Appeals decided that...
GEICO Passes Allstate to Become 2d Largest U.S. Auto Insurer: SNL
Dec 16 2013 // Based on third quarter reports, GEICO Corp. has surpassed Allstate Corp. to become the nation’s second-largest private auto insurer. According to data compiled by SNL, GEICO logged $4.89 billion in direct premiums...
Former Insurance Company CEO Wants to Withdraw Guilty Plea
Dec 15 2013 // A former insurance company chief executive wants to withdraw his guilty plea to bribing El Paso, Texas-area public officials, a plea that brought him an eight-year prison sentence. Prosecutors say Francisco Apodaca made...
Wisconsin Workers’ Comp Insurers Propose to Rein in Costs
Dec 13 2013 // States once again show the way to management and reform of public systems by having affected interests sit down together to work out a plan. In Wisconsin, the nation’s oldest workers’ compensation program...
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...
