Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers’ Group Urges R.I. Governor to Veto Auto Body Legislation
Jul 8 2013 // The Rhode Island Legislature passed legislation before adjournment on July 3 that could impact the pockets of Rhode Islanders when they have to pay for auto body repairs, according to the Property Casualty Insurers...
Detroit Files Lawsuit Against 1 of Its Insurers
Jul 8 2013 // Detroit has filed a lawsuit against an insurance company the city says is improperly withholding $11 million a month in casino payments and taxes. According to The Detroit News, the suit against Syncora Guarantee Inc. was...
New Jersey Utility Sues 11 Insurers Over Sandy Storm Coverage
Jul 8 2013 // Public Service Enterprise Group Inc., the largest provider of gas and electric service in New Jersey, sued 11 insurers, including American International Group Inc., over losses from Hurricane Sandy. PSE&G, which...
Chinese Insurer Buying Lloyd’s of London Building
Jul 8 2013 // Ping An Insurance Group Co., China’s second-largest life insurer, agreed to buy the Lloyd’s of London building from a Commerz Real AG-managed fund, two people with knowledge of the transaction said. A Chinese...
Swiss Insurers May Be Next in U.S. Crackdown on Tax Evasion
Jul 8 2013 // Swiss insurers are scrambling to defend themselves against possible investigations into billions of dollars of untaxed assets held by their American clients. As Switzerland continues to seek a data-transfer deal with the...
Iowa’s Top Insurer Delays Exchange Participation
Jul 3 2013 // Iowa’s leading health insurer will wait a year before participating in the state’s new health exchange due to concerns about problems that could arise with its implementation in the early going, company’s...
Prudential Will Appeal SIFI Designation; AIG, GE Will Not
Jul 3 2013 // Prudential Financial Inc., the No. 2 U.S. life insurer, is contesting a U.S. finding that it poses a potential risk to the financial system, becoming the first company to challenge the label that brings additional...
Insurers, State Regulators Try to Block Bank-Like Rules by Federal Reserve
Jul 3 2013 // MetLife Inc. and Prudential Financial Inc. have been joined by state regulators challenging the Federal Reserve on how to oversee the biggest insurers under the Dodd-Frank law. The insurers and watchdogs are pressuring the...
Ohio Insurer Expands to Dayton
Jul 2 2013 // A western Ohio insurance company’s expansion should mean about 200 jobs for Dayton. Springfield-based Assurant Special Property plans to open a satellite office in northeast Dayton. The Dayton Daily News reports that...
Swiss Re, Lloyd’s Among Insurers Probed by N.Y. on Iran Sanction
Jul 1 2013 // Swiss Reinsurance Co. and Lloyd’s of London, the world’s oldest insurance market, are among insurance companies being probed by New York’s insurance regulator about their compliance with an expanded Iran...
Insurers Can’t Require Examinations Under Oath in Pre-2012 PIP Claims: Florida Court
Jul 1 2013 // The Florida Supreme Court ruled that prior to a 2012 state law, auto insurer Geico didn’t have the right to force a policyholder to answer questions under oath before paying a personal injury protection (PIP)...
How Alabama County’s $4.2B Bankruptcy Plan Affects Insurers, Other Debtholders
Jul 1 2013 // Jefferson County, Alabama, filed a plan to end the biggest U.S. municipal bankruptcy later this year by cutting $1.2 billion in principal payments to investors holding defaulted sewer-related debt. Less than $100 million...
New CEO Named for Louisiana’s Insurer of Last Resort
Jul 1 2013 // The state’s insurance commissioner has named a new chief executive to run Louisiana Citizens Property Insurance Corp., the state-run insurer of last resort. Commissioner Jim Donelon said he has named David Thomas to...
Insurers Turned Underwriting Profit in Q1, Attained Record Surplus
Jul 1 2013 // First quarter results for U.S. property/casualty insurers show they made a profit on underwriting for the first time since late 2009. Private U.S. property/casualty insurers’ net income after taxes rose to $14.4...
Survey Explores How Carriers Support Agency Growth Strategies
Jul 1 2013 // Carriers can be instrumental in helping agencies grow through referrals, expanded coverages, and clear business line or geographic expansion planning. And despite the challenges facing the industry and the broader economy,...
The Disaster Issue – Where Insurers Fear to Tread
Jul 1 2013 // One storm is all it takes these days. Anyone who’s been paying attention needn’t be reminded that even a post-tropical cyclone can cause major damage. That’s what Sandy was when she came on shore in New...
P/C Direct Premium Up Nearly 4.5% for All-Time Industry High
Jul 1 2013 // Direct premium growth for property/casualty insurance companies continues to increase. At year-end 2012, more than $523 billion of direct premium written (DPW) was reported, an all-time high for the industry. For 2012,...
P/C Insurers Question Need for Insurance Accounting Overhaul
Jun 28 2013 // The biggest overhaul of insurance accounting in 30 years advanced a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile. In a move to align financial statements...
Florida’s Citizens Seeks 6.6% Home Rate Hike; Cap on Sinkhole Rates in High-Risk Areas
Jun 27 2013 // Florida’s state-backed property insurer requested a statewide average 6.6 percent increase in homeowners’ rates along with a cap on sinkhole rate increases in three high-risk counties at between 20 percent and...
