Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Deciphering the Texas Supreme Court’s Decision in Lennar v. Markel
Sep 23 2013 // When the Texas Supreme Court decides to look at controversial insurance coverage issues, you can assume that their decisions will never be boring. Such was the case in its Aug. 23 decision in Lennar Corp. v. Markel...
Florida’s Citizens Has New Plan to Shift 200,000 Policies to 8 Private Insurers
Sep 22 2013 // Florida’s largest insurer could be shifting thousands more of its policyholders away from the state-created company and into private insurance companies. The head of Citizens Property Insurance Corp. announced Friday...
New Rules for Civil Settlement in Illinois: What Defendants and Insurers Need to Know
Sep 20 2013 // On August 26, 2013, Gov. Quinn signed into law Public Act 098-0548, which amends the Illinois Code of Civil Procedure, and creates a new statutory section addressing settlements and liens in civil cases. The new statute,...
Travelers Launching Low Cost, Segmented Product in New Personal Auto Strategy
Sep 20 2013 // The Travelers Companies Inc. is adopting a new strategy to become more price-competitive in personal auto insurance. Travelers’ CEO Jay Fishman explained his company’s personal auto strategy at the Barclays...
N.Y. Proposes Sweeping Rules to Reform ‘Force-Placed’ Insurance Business
Sep 19 2013 // New York State officials today proposed a comprehensive set of rules to reform the “force-placed” — also known as “lender-placed” or “creditor-placed” — insurance industry in...
Best Affirms Donegal Insurance Group Ratings; Outlook Stable
Sep 19 2013 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the Pennsylvania-based members of the Donegal Insurance Group, as well as...
Brokers Urge Renewal of ‘Essential’ Federal Terrorism Insurance
Sep 19 2013 // The federal Terrorism Risk Insurance Act (TRIA) is a “model” for public-private cooperation and should be renewed, insurance broker Marsh told lawmakers on Capitol Hill. Peter J. Beshar, executive vice...
MetLife Says Regulators May Miss Key Insurer Risks with Focus on Bank Rules
Sep 19 2013 // Federal regulators may miss important threats to the financial stability of U.S. insurers by focusing on bank risks, MetLife Inc. Chief Financial Officer John Hele said. “Bank rules overlook key insurance...
UK Regulator Investigates 2 Life Insurers over Banned Sales Commissions
Sep 19 2013 // Britain’s financial regulator is investigating whether two life insurance companies breached new rules that ban the offering of commissions to financial advisers for selling their products. The Financial Conduct...
Groups Object to Florida’s Citizens Insuring Out-of-State Policyholders
Sep 18 2013 // A coalition of Florida business and consumer groups is objecting to the state-backed property insurer providing coverage for 180,000 individuals who reside outside of the state and, in some cases, the country. The Stronger...
Private Market Will Dry Up If Federal Terrorism Insurance Not Renewed: Aon
Sep 18 2013 // Research by Aon shows that more than 85 percent of insurers will no longer insure terror risk if the federal backstop goes away. The brokerage firm revealed the conclusion based on its “market intelligence” in...
UK MGA’s Welcome Increased Insurer Support for Capacity Exchange
Sep 18 2013 // “A nearly 40 percent increase in the number of insurers, market participants and suppliers attending this year’s Managing General Agents’ Association (MGAA) capacity exchange, demonstrates the increasing...
S&P Report Says Global Multiline Insurers in Good Shape
Sep 17 2013 // A report from Standard & Poor’s Ratings Services says that overall, “it considers global multiline insurers (GMIs) to still display better credit quality than other insurance groups or...
Zurich Ad Campaign Seeks to Restore Insurer to Normality
Sep 16 2013 // By rolling out television, print and billboard marketing campaigns on Monday, Zurich Insurance is aiming to advertise business as usual after a suicide and resignation in the Swiss-based insurer’s top ranks. But...
Insurers Expect Increase in Personal Lines, Workers’ Compensation Fraud
Sep 13 2013 // One in three U.S. and Canadian insurers does not feel adequately protected against fraud and more than half expect personal lines and workers’ compensation fraud to increase this year. The survey by FICO, a...
Start-Up Health Insurance Co-Ops Vow to Compete with Commercial Insurers
Sep 13 2013 // They have rented offices and zero customers. All their capital is borrowed. They’re trying to sign the kind of expensive, chronically ill individuals that insurers have avoided for decades. In three weeks they face...
AIG, Lincoln Among Insurers Said Pushed by N.Y. on Universal Life Product Reserves
Sep 12 2013 // New York State’s financial-services regulator is pressing insurers including American International Group Inc., Lincoln National Corp. and Principal Financial Group Inc. to boost reserves at units in the state, a...
Mississippi Shipbuilder, Insurer Settle on $180M for Katrina Damages
Sep 12 2013 // Huntington Ingalls Industries and its insurer have reached cash settlement for $180 million for the shipbuilder’s losses from Hurricane Katrina in 2005 at facilities in Pascagoula and Avondale, La. The Mississippi...
Wisconsin Court: No Damages in Officer Death from Insurance Company
Sep 12 2013 // A Wisconsin appeals court says a slain police officer’s widow can’t collect damages from the insurance company that covered his killer. James Cruckson shot Fond du Lac Police Officer Craig Birkholz during a...
Mass. Diocese Agrees to $60M Settlement With Insurer Over 2011 Tornado Damages
Sep 12 2013 // The Roman Catholic Diocese of Springfield has agreed to a $60 million settlement with its insurer for damage done to a parochial high school and other church property by a tornado two years ago. The resolution with insurer...
