Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Best Places Tower Group Subs Ratings on Review/Negative
Aug 13 2013 // A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the pooled and reinsured members...
FSB Examines ‘Too Big to Fail’ Insurers; CIRC Expands Insurers’ Investments
Aug 13 2013 // The Financial Stability Board said an extended version of its guidance on the resolution of systemically important banks will apply to non-bank financial institutions, such as Allianz SE and other large insurers. The...
Florida Regulator McCarty Answers CFO Over Reinsurance Costs
Aug 12 2013 // Florida’s insurance regulator, in response to questions why lower reinsurance costs have not translated into reduced homeowners rates, said insurers have significant leeway in how they incorporate those costs into...
Wisconsin Supreme Court Narrows Definition of ‘Occurrence’
Aug 12 2013 // Public policy and insurance law allow insurance coverage only for fortuitous events and not for harm or loss resulting from intentional acts. To this end, insurance policies provide coverage when an injury or loss is...
Ruling Allows Hawaii Dam Break Lawsuits Against Insurers To Advance
Aug 12 2013 // A state appeals court ruling has cleared the way for stalled lawsuits involving a deadly 2006 Kauai dam breach to move forward. The state Intermediate Court of Appeals sent the case back to circuit court, vacating the...
N.Y. Building Co-Owner Gets Prison in Arson, Ordered to Pay Restitution to Insurer
Aug 12 2013 // A federal judge has sentenced a 55-year-old central New York man to more than 18 years in prison for his role in the arson of a factory building he co-owned and the subsequent $4.2 million insurance claim. U.S. District...
Insurers Continue to Improve Their Home Valuations, Says MSB
Aug 12 2013 // The insurance industry is doing a better job adequately valuing residential construction, according to Marshall & Swift/Boeckh (MSB), a provider of building cost information. MSB’s 2013 Insurance to Value (ITV)...
Commentary: Notifying Excess Insurers for Additional Insureds
Aug 9 2013 // An interesting case was recently decided by the Georgia Court of Appeals. In Garner and Glover Co. v. Barrett, 738 S.E.2d 721 (Ga. App. 2013), the issue was the duty of an insurance producer to notify an excess insurer...
Florida CFO: Why Aren’t Florida Property Rates Falling Along with Reinsurance?
Aug 9 2013 // Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial...
Missouri Settles with Major Health Insurer over Claim Denials
Aug 9 2013 // Missouri insurance regulators announced a million-dollar settlement with a major health insurer over alleged violations that include denying childhood immunization and cancer screening claims. The Missouri Department of...
Report Released on Insurer Procurement Diversity in California
Aug 7 2013 // A survey of supplier diversity in the insurance industry for California’s largest 206 insurance companies was issued on Wednesday. The results, which are posted on the California Department of Insurance website,...
New York City Prep School Sues AIG Insurers Over Denial of Abuse Coverage
Aug 7 2013 // New York City prep school Horace Mann sued units of American International Group Inc. saying they refused to defend and indemnify the school for damages stemming from sex-abuse claims by former students against...
Washington Nationals Sue Crime Insurer Over Player’s Lie About Age
Aug 7 2013 // Major League Baseball’s Washington Nationals sued an insurance company for $1 million for declining to provide crime insurance coverage for an alleged fraud scheme involving a team executive linked to the signing of...
Kentucky’s Harbor Insurance Joins Keystone Insurers Group
Aug 6 2013 // Harbor Insurance Agency has become Keystone Insurers Group’s newest franchise partner in Kentucky. The announcement was made jointly by Harbor President Tim Murphy and Keystone’s Kentucky Vice President Nancy...
North Dakota Man Suing Insurance Company Over Potato Case
Aug 5 2013 // A prominent North Dakota potato farmer, businessman and philanthropist who’s among a group of people accused in an alleged price-fixing scheme is suing his insurance company for failing to cover his defense...
Commentary: Does FSOC Understand the Business of Insurance?
Aug 5 2013 // The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that “material financial distress at AIG could pose a threat to U.S....
Insurers Help Drive European Share Prices to New 2-month high
Aug 5 2013 // Robust insurer earnings helped drive European shares to a two-month high on Friday, while mixed U.S. jobs data supported the view the Federal Reserve may be more cautious about cutting back on its economic stimulus. The...
Insurer Loss Ratios High in Oklahoma after Years of Extreme Storms
Aug 5 2013 // The May storms in Oklahoma that produced two EF-5 tornadoes, destroyed thousands of houses, resulted in 46 deaths and sent damage estimates above the $5 billion mark, were extreme examples of a years-long pattern of storms...
Zurich Among Insurers Said to Be Probed in Expanded N.Y. Inquiry
Aug 5 2013 // Zurich Insurance Group AG is among companies being questioned by New York’s insurance regulator in a widening probe into compliance with an Iran sanctions law, according to a person familiar with the matter. The New...
Conn. Insurers Required to Participate in Climate Risk Surveys
Aug 5 2013 // Connecticut Insurance Commissioner Thomas Leonardi announced on July 17 that Conn.-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary...
