Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer: Arson Ring Operated for 2 Decades in Flint, Michigan
Apr 12 2013 // An insurance company says more than a dozen people operated an arson-for-profit ring in Flint, Mich., that collected more than $2 million over two decades. The Flint Journal reports State Farm Insurance says in a lawsuit...
Conn.-Based Medical Liability Insurer CMIC Appoints Director of Claims
Apr 11 2013 // CMIC, a Glastonbury, Conn.-based carrier offering medical professional liability insurance in New England, announced Kevin Bresnahan has joined the company as director of claims. Bresnahan brings 20 years of experience to...
Legal Dispute Continues Between Eli Lilly’s Insurer and Security Firm
Apr 11 2013 // A security company being sued over the theft of $60 million worth of pharmaceuticals from an Eli Lilly and Co. warehouse in Connecticut in 2010 insists there is no proof the thieves used a report it prepared detailing the...
As Gun Sales Soar, Insurance Sales Follow Suit
Apr 11 2013 // Proposed federal and state gun legislation is having an unintended effect on growth in the gun insurance market across the country. Experts in this segment say new policy submissions dealing with all aspects of guns,...
Commentary: Will HUD’s Disparate Impact Rule Have Say in Ratemaking?
Apr 10 2013 // Despite the McCarran-Ferguson Act, which reserved the regulation of the “business of insurance” to the states, the Department of Housing and Urban Development (HUD) has given itself the ability to upset and...
President Obama Proposes Cuts in Crop Insurance Subsidy, Insurer Costs
Apr 10 2013 // President Barack Obama proposed reducing the most expensive part of the farm safety net by cutting the subsidy to farmers for buying crop insurance. At present, the government pays 62 cents of every $1 of insurance...
Best Affirms Aegon’s U.S. and Canadian Subs Ratings; Outlook Stable
Apr 10 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the U.S. life/health subsidiaries of the Netherlands Aegon N.V....
Lawsky Urges Fellow Regulators to Reform Force-Placed Insurance Market
Apr 9 2013 // New York Financial Services Superintendent Benjamin Lawsky, whose department reached a settlement with the country’s largest “force-placed” or “lender-placed” insurer Assurant last month, is...
Bond Insurer’s Settlement with IRS Puts It on Track to Emerge from Bankruptcy
Apr 9 2013 // Ambac Financial Group Inc. on Monday said it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer’s effort to emerge from bankruptcy. The settlement...
Florida Justices Face Another PIP Conundrum: Medical Fees
Apr 8 2013 // Florida’s high court is poised to decide how much money insurers owe some medical providers in cases where an auto policy does not specifically state that the fees will be based on a fee schedule approved by state...
Closing N.Y.’s Reopened Case Fund May Leave Workers’ Comp Insurers Under-Reserved
Apr 8 2013 // An industry executive warned recently that a set of proposed changes in New York could leave workers’ comp insurers under-reserved. Julia Stenberg, an assistant vice president and actuary at CNA insurance companies,...
Armstrong Seeks Dismissal of Lawsuit Brought by Dallas-Based Insurer
Apr 8 2013 // Lance Armstrong has asked a Texas court to dismiss a lawsuit by a Dallas promotions company seeking repayment of more than $12 million in bonuses paid for winning the Tour de France. SCA Promotions insures prizes in...
Insurance Company Settlement Money to Bolster Louisiana’s Budget
Apr 8 2013 // Louisiana has received $95 million in legal settlements with insurance companies, ending questions about whether the money would roll in for this year’s budget or leave lawmakers scrambling to fill a...
Mortgage Lender Charged with Defrauding Government Insurer
Apr 8 2013 // The United States last Thursday sued a New York mortgage company it said defrauded the federal government into insuring poor quality home loans, costing taxpayers millions of dollars. In a civil lawsuit filed in Manhattan...
Florida May Scrap No-Fault Auto Insurance Law
Apr 5 2013 // Frustrated by a recent court decision temporarily blocking part of Florida’s no-fault auto insurance law reformed last year, state lawmakers are considering scrapping the entire law. Current proposals would reinstate...
Mortgage Insurers Settle for $15 MIllion Over Alleged Kickbacks to Lenders
Apr 5 2013 // Four mortgage insurers agreed to pay about $15 million to settle claims that they paid kickbacks to mortgage lenders in exchange for business, the U.S. consumer watchdog said on Thursday. The Consumer Financial Protection...
Insurer Analyzes Top 10 Driving Distractions Involved in Fatal Car Crashes
Apr 4 2013 // Of the more than 65,000 people in the U.S. killed in car crashes over the past two years, one in 10 were in crashes where at least one of the drivers was distracted, according to an analysis by Erie Insurance. The Erie,...
Pennsylvania Borough Insurer Pays $98K in Cop-on-Cop Lawsuit
Apr 3 2013 // A Pittsburgh suburb’s insurer has paid $98,500 to settle a lawsuit filed by an Allegheny County police officer against local cops he claims roughed him up then filed false charges against him. Fifty-one-year-old...
High-Tech Personal Lines: Technology Changing the Way Agents Do Business
Apr 3 2013 // Many believe there is still opportunity for independent insurance agents and their carriers to grab personal lines market share. But to do so they must find a way to compete against the giant direct response and captive...
Florida May End Insurers’ Tax Credit
Apr 1 2013 // Florida lawmakers are moving forward with a proposal to eliminate a 15 percent premium tax credit for insurance companies in order to reduce automobile license fees despite strong objections from insurance industry. The...
