Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
N.Y. Reaches Reform Agreements With 4 Additional ‘Force-Placed’ Insurers
Jun 3 2013 // New York officials announced that the state’s “force-placed” insurance reforms will now cover 100 percent of the New York market after the New York State Department of Financial Services (DFS) reached...
Hurricane Season and Florida’s Insurance System: Living on Borrowed Time?
Jun 3 2013 // Mother Nature has been kind to Florida’s coastline lately with a record run of seven years without a hurricane making landfall, allowing property insurers time to re-stock their depleted coffers. As a result, before...
Best Affirms MAPFRE USA and Group Members Ratings; Outlook Negative
Jun 3 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of the members of MAPFRE USA GROUP. The lead company in MAPFRE USA is The...
Top 10 U.S. Insurers in Tornado-Stricken States: SNL Financial
Jun 3 2013 // The Moore, Oklahoma tornado, which killed 24 people, was the deadliest tornado to touch down during a nearly weeklong outbreak across the U.S. Midwest and South Central regions. The states hardest hit have been Kansas,...
Near National P/C Carriers Identified for 2013
Jun 3 2013 // The original criteria and objective definition for the Near Nationals was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one of 11...
Positioning with Companies as the Market Changes
Jun 3 2013 // A huge amount of press has been devoted to how important price is to insurance buyers – and it clearly is. But this is not specific to insurance. Price is a key factor in almost all buying decisions, excluding medical...
Order Up – The Restaurant Franchise Program Market
Jun 3 2013 // One industry segment ideal for the program market and somewhat immune to the effects of a battered economy is the fast-food, multi-unit restaurant franchise industry, the experts say. The larger a company grows, the slower...
Insurer Group Mostly Happy with Missouri Legislative Session
Jun 3 2013 // The Missouri General Assembly has passed several industry-supported insurance-related bills this year. One measure, SB 322, makes it easier for consumers to access their insurance policy, according to the Property Casualty...
Report: California Workers’ Comp Insurers Return on Worth Up
May 31 2013 // California workers’ compensation insurers’ average return on net worth increased for the second year in a row in 2011, according to the latest National Association of Insurance Commissioners report on insurer...
Best Affirms State Farm Companies, Affiliates and Subs Ratings
May 31 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of State Farm Mutual Automobile Insurance Company (SFMAIC) and its...
More Than 100 Insurers Sign Up for Healthcare Exchanges
May 30 2013 // Federally-run health insurance exchanges created under President Barack Obama’s healthcare law have drawn applications from 120 insurance plans and added at least one new insurer in 75 percent of the states,...
New York Regulator Asks Insurers About Readiness for Cyber Threats
May 29 2013 // New York’s top financial regulator has asked some of the largest U.S. insurance companies to disclose details on their preparedness for cyber attacks, following a similar request to major banks earlier this year.New...
Oklahoma Tornado Cost Insurers as Much as $3.5 Billion: RMS
May 29 2013 // The tornado that leveled an Oklahoma City suburb last week probably cost insurers $2 billion to $3.5 billion in claims, according to catastrophe modeler Risk Management Solutions Inc. The estimate includes damage to...
After Years of Increases, Florida Property Insurance Rates May Be Stabilizing
May 29 2013 // It’s been nearly eight years since Hurricane Wilma raked the southern end of Florida and caused billions in damages, the last of eight hurricanes to hit the state in 2004 and 2005. Yet even as the state has been...
Florida’s Citizens, Heritage Insurance Strike a Deal
May 28 2013 // Florida’s Citizens Property Insurance Corp. has narrowly approved a plan allowing a domestic insurer to remove 60,000 policies and receive as much as $52 million from Citizens in exchange. A short-handed Citizens...
P/C Insurers’ Results Much Better in 2012 Than 2011: A.M. Best
May 28 2013 // Underwriting and operating results for the U.S. property/casualty (P/C) industry improved substantially in 2012 compared with 2011. Net income increased by nearly 52 percent to $39.9 billion from $26.3 billion, reflecting...
Chubb Subsidiary Approved as N.J. Domestic Surplus Lines Insurer
May 28 2013 // The Chubb Group of Insurance Companies said on May 23 it received approval from the New Jersey Department of Banking & Insurance to convert one of its subsidiaries, Chubb Custom Insurance Company, into a domestic...
Florida Gov. Scott Asked to Return Money to Insurer
May 27 2013 // A leading Florida Democrat is calling on Gov. Rick Scott to return $110,000 in campaign contributions from an insurer. Dan Gelber, a former state senator and potential future statewide candidate, wrote a letter Friday to...
Insurers and Climate Change: The Truth is More Complicated than the Sound Bytes
May 24 2013 // As an insurance guy who has been on both sides of the climate change debate (I’ve worked for organizations full of climate change skeptics and now head one that believes it’s an important public policy issue)...
ABI Approves UK Government Plan to Highlight Insurers’ Global Role
May 24 2013 // A bulletin from the Association of British Insurers (ABI) notes that the UK’s Financial Secretary to the Treasury Greg Clark announced on Tuesday May, 21 that the Government has outlined a “strategy for the...
