Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Insurers Save Tax Credit … For Now
Apr 30 2013 // Florida insurers are showing some signs of relief after they convinced House lawmakers to stop a Senate bill that would have eliminated a 15 percent insurance premium tax credit. The Senate bill would have used the funds...
Insurer CEO Commentary: Why Florida Is Missing Out on PIP Savings
Apr 29 2013 // Florida legislators, drivers, and reporters want to know when the savings are coming from the Personal Injury Protection (PIP) reform law enacted in 2012. So do we. PIP is a money-loser for car owners and insurance...
To Tax or Not to Tax – ‘Foreign’ Reinsurance’ Tax Proposals on the Agenda Again
Apr 29 2013 // “Roundup the usual suspects;” here we go again. No, it’s not an unsolved murder in wartime Casablanca, simply the latest skirmish in the ongoing dispute over whether companies that write reinsurance in...
Mass. FAIR Plan Seeks Rate Hike; Expert Witnesses to Testify on Insurer’s Behalf
Apr 28 2013 // The Massachusetts FAIR (Fair Access to Insurance Requirements) Plan, the state’s home insurer of last resort, has proposed this month an average statewide rate hike of 6.8 percent. The FAIR Plan, whose official name...
Family of Vermont Trooper Killed in 2003 Gets $4.5M From State’s Insurer
Apr 28 2013 // The family of a Vermont State Police trooper killed while trying to stop a fleeing suspect a decade ago has received a $4.5 million settlement from the state and its insurance carrier. Washington County Superior Court...
Sandy Lesson for Business Owners: Read Policy, Keep Track of Notice Provisions
Apr 28 2013 // It’s been six months since Superstorm Sandy made its landfall on the coast of New Jersey and became one of the costliest storms ever recorded in the U.S. Many businesses in the region are still recovering from the...
U.S. P/C Industry 2012 Income $33.5B in Spite of $32B in Cat Losses
Apr 26 2013 // U.S. property/casualty insurers absorbed net insured catastrophe losses of more than $32 billion last year, but still managed to post $33.5 billion in net income in the aggregate—in part because catastrophe losses were...
AXA to Buy 50% of China P&C Insurer Tian Ping for $631 Million
Apr 26 2013 // France’s AXA Group announced that it has entered into an agreement with Tian Ping Auto Insurance Company Limited shareholders to acquire 50 percent of the company. Under the terms of the agreement, and subject to...
Remember E&O When Buying or Selling an Agency: Pearsall
Apr 25 2013 // While the industry seemed to see a spike in mergers and acquisitions activity in 2012 due to some tax implications, many are projecting that 2013 will see some healthy buying and selling, too. While there are many issues...
Workers’ Comp Insurer MEMIC Appoints Ancillary Services Director in Florida
Apr 23 2013 // The MEMIC Group, a workers’ compensation insurer headquartered in Maine, recently promoted Jared Payton to national director of ancillary services. He is based in MEMIC’s recently opened Tampa, Fla.,...
Zurich American to Refund $4.56M to Disability Policyholders in New York
Apr 23 2013 // New York Gov. Andrew Cuomo announced that Zurich American Insurance Company has agreed to refund $4.56 million to policyholders of its New York statutory disability insurance policies because the insurer failed to spend at...
Most Carriers Offer Agents Training Opportunities for Online Sales: Survey
Apr 23 2013 // A two-thirds majority of independent insurance agents say their carriers are providing them with training and consulting on how to use their agency websites to increase sales. This is one of the findings in a new survey of...
Ohio-based Zito Insurance Agency Partners with Keystone Insurers Group
Apr 22 2013 // Zito Insurance Agency, based in Mentor, Ohio, is partnering with insurance broker Keystone Insurers Group. Zito Insurance Agency wasfounded in 1963 by Eugene Zito and is an independent insurance agency offering an array of...
Florida’s Latest PIP Conundrum: Medical Fees
Apr 22 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...
Florida Alleges Fraud by Allianz in Case of Failed Insurer
Apr 22 2013 // Florida regulators are alleging that insurer Allianz and its companies contributed to the collapse of a Florida domestic property insurer by taking out more than $20 million in assets and rendering it unable to meet its...
E&O Insights: Directors & Officers Liability Is Not Your Normal Insurance Product
Apr 22 2013 // If you asked 100 insurance professionals on the agency side what one line of business “scares” them the most, it’s likely that directors and officers (D&O) liability would be at the top of the list....
10-Point Checklist for DO Renewals in a Hard Market
Apr 22 2013 // No one, least of all the insured, likes a price increase. But with the D&O market firming across the board – as confirmed by the Towers Watson “2012 Directors and Officers Liability Survey” released in...
Florida Hurricane Cat Fund Reform in Jeopardy
Apr 19 2013 // Plans to reform Florida’s state-backed reinsurance facility with proponents scaling back their proposals. The Florida Hurricane Catastrophe Fund has been the subject of legislative reform efforts for several years as...
S&P Report Looks At ERM Scores of North American, Bermudian Insurers
Apr 19 2013 // Standard & Poor’s Ratings Services has updated its enterprise risk management (ERM) opinions for all of its rated North American and Bermudian insurance companies. S&P explained that an...
S&P: Bermuda Outlook Revision ‘No Impact’ on Bermuda Reinsurer Ratings
Apr 19 2013 // Standard & Poor’s Ratings Services in a report titled “The Recent Outlook Revision On Bermuda Does Not Affect Bermudian (Re)Insurers“, said that “despite the recent outlook revision on the...
