Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Immediate Notice Required, Euthanasia Allowed in Equine Mortality Policies
Dec 2 2013 // The main difference between livestock, or equine, mortality insurance and human life insurance is that a livestock owner, subject to certain conditions, may sometimes euthanize the animal and still collect policy proceeds,...
Obamacare Proposal Boosts Payments to Insurers for Sicker Policyholders
Nov 27 2013 // The U.S. government is proposing compensation to help insurers participating in Obamacare health exchanges who fear that their costs will spin out of control if their plans are dominated by sicker people. Fears about cost...
California Insurers Group: Jones Was Correct on WC Pure Premium
Nov 26 2013 // California Insurance Commissioner Dave Jones was correct to recognize the increasing costs in the state’s workers compensation system when he made his pure premium advisory rate recommendation on Friday, says the...
Some NYC Hospitals Not Taking New Health Plans
Nov 22 2013 // New Yorkers buying a health plan on the state’s new insurance exchange should read the fine print if they’re interested in getting care at some of the city’s top hospitals. Not all are participating in...
German Finance Chief Schaeuble Vows to Help Insurers Vying with Low Interest Rates
Nov 21 2013 // German Finance Minister Wolfgang Schaeuble issued an unusual warning to the European Central Bank on Thursday, saying rate decisions must not offer “false stimulus” and that monetary policy alone would not...
States, Insurers Working on Ways to Bypass Obamacare Federal Exchange
Nov 21 2013 // States and insurers are already working to bail out President Barack Obama’s healthcare overhaul, anticipating the system’s online insurance exchanges may not be ready by a critical December deadline. All of...
Illinois Independent Agency, Williams-Manny, Joins Keystone Insurers Group
Nov 20 2013 // Keystone Insurers Group announced that Williams-Manny Inc. of Rockford, Ill., has become its second franchise partner in Illinois. Keystone, with partner agencies in nine states, is pursuing a strategy of rapid expansion...
Deputy Treasurer Nominee Says Bank Regulations Not Right for Insurers
Nov 20 2013 // President Barack Obama’s nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same capital rules as...
Insurer Sues Over 2011 Hawaii Wind Farm Fire Losses
Nov 20 2013 // The insurance company that paid $2.4 million to cover losses from a wind farm fire in Hawaii is suing manufacturers that built parts of its battery system. The Honolulu Star-Advertiser reported Certain Underwriters at...
Fed Chair Nominee Yellen Vows to ‘Carefully Consider’ SIFI Rules for Insurers
Nov 20 2013 // Federal Reserve Vice Chairman Janet Yellen said the central bank will “carefully consider” how to apply new regulatory standards to insurance companies that fall under the central bank’s supervision. The...
Tower Group Update: CEO Says Insurer Will Meet Obligations
Nov 20 2013 // A day after Tower Group International Ltd. disclosed “substantial doubt about the company’s ability to continue as a going concern,” the insurer’s CEO issued a letter seeking to reassure business...
Brain-Damaged Inmate Settles With Penn. County; Insurer to Pay $65K
Nov 19 2013 // A northwestern Pennsylvania county’s insurance company is paying $65,000 to settle claims by a former inmate left brain-damaged after a jail guard allegedly slammed him into a wall. The Erie Times-News reports Erie...
Texas Opening Doors to Captive Insurers
Nov 18 2013 // The Texas Department of Insurance has begun accepting applications from captive insurance companies located in other jurisdictions that would like to relocate to Texas. TDI will license the companies under a law change...
Texas Insurer Group Awards Fall Scholarships to 20 Students
Nov 18 2013 // Twenty students at four Texas universities were recently awarded a total of $38,000 in academic scholarships from the Insurance Council of Texas (ICT) Education Foundation. The students attend St. Mary’s University...
Insurers’ Asbestos, Environmental Losses Rose 12% in 2012
Nov 18 2013 // While generally not a material drag on the U.S. property/casualty industry’s earnings, industry losses from asbestos and environmental (A&E) claims resumed an upward climb in 2012, according to a new A.M. Best...
2013 State Specialist P/C Insurers Revealed
Nov 18 2013 // State Specialists are often an independent agent’s most reliable and consistent market. These companies are focused on a specific geographic area, understand it and consistently strive to serve it. The Demotech...
Carrier Disintermediation of Agencies
Nov 18 2013 // A multitude of forces are causing many carriers to think of ways to disintermediate agencies. Healthcare reform is one. Some benefits carriers have cut commissions to 0 percent and agents are still writing with them. This...
Immediate Notice Required, Euthanasia Allowed in Equine Mortality Policies
Nov 18 2013 // The main difference between livestock, or equine, mortality insurance and human life insurance is that a livestock owner, subject to certain conditions, may sometimes euthanize the animal and still collect policy proceeds,...
N.Y. Issues New Disaster Protocol for Insurers
Nov 18 2013 // New York Gov. Andrew Cuomo announced that his administration has established a new emergency disaster protocol that insurers “should expect to follow” in the event of future severe storms and other natural...
Philippine Typhoon Haiyan’s Cost to Insurers Estimated at $300-$700 Million: AIR
Nov 17 2013 // Super Typhoon Haiyan, one of the strongest storms to hit land, may cost insurers as much as $700 million in the Philippines, a fraction of estimated damage, because few people are covered, a catastrophe modeler said. Total...
