Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
PCI: Too Early for Insurance Implications of Deadly Texas Fertilizer Blast
Apr 18 2013 // A fertilizer facility exploded in the small Central Texas town of West on Wednesday night, killing an estimated 15 people, injuring more than 150 and damaging dozens of homes, according to a report in the Austin American...
N.Y. Reaches Settlement With QBE Over ‘Force-Placed’ Insurance Business
Apr 18 2013 // New York officials announced this morning that a New York State Department of Financial Services (DFS) investigation produced an additional settlement with a major “force-placed” or “lender-placed”...
UK Insurer Aviva to Cut 2,000 Jobs Worldwide
Apr 18 2013 // British insurer Aviva Plc will cut as many as 2,000 jobs worldwide in the latest cost-cutting drive aimed at revitalizing its flagging fortunes, the company confirmed on Thursday. Chief Executive Mark Wilson told staff the...
Sources Say China Revamps Anti-Money Laundering Rules for Banks Insurers
Apr 18 2013 // Chinese banks must rate their clients’ risk of criminal conduct on a scale of 1-5 as part of the central bank’s moves to curb money laundering and fraudulent transactions estimated at hundreds of billions of...
Nearly 95% of N.Y. Sandy Claims Closed, Insurers’ Response Report Card Shows
Apr 17 2013 // New York State regulators’ latest Sandy response report card shows that almost 95 percent of Superstorm Sandy-related personal and business insurance claims in the state have now been closed. The report card, which...
Willis Re Claims Exec on Mutual Insurers’ Cat Loss Exposures
Apr 17 2013 // Willis Re may be positive about the market changes that could benefit mutual insurers , but Barry Costi-Mouyia, Technical Claims Director of Willis Re, has indicated that while many of the claims issues arising from...
Firefighters Insurance Is Taxing Municipalities in Pennsylvania
Apr 15 2013 // Firefighters have a dangerous job. They run into burning buildings in the midst of panic and chaos, wade through thick smoke in search of life and keep precious mementos from turning to ash. That’s why most people...
Judge Nixes Insurer Lawsuit After Juror Conducts Online Research
Apr 15 2013 // A federal judge in Louisville has dismissed an entire jury pool in a civil case because one of the jurors did online research about the defendant. U.S. Magistrate Judge James Moyer excused the panel in a case brought by...
Supreme Court Will Not Hear Drugmaker’s Appeal of Insurer’s Medicare Reimbursement Claim
Apr 15 2013 // The U.S. Supreme Court on Monday declined to consider whether private insurers can sue giant drugmaker GlaxoSmithKline Plc over health costs incurred by its Avandia diabetes drug. Humana Inc.’s Humana Medical Plans...
Best Affirms Samsung Fire & Marine Insurance Company of Europe Ratings
Apr 15 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of UK-based Samsung Fire & Marine Insurance Company of...
Willis Re Finds Reinsurance Market Changes Favoring Mutual Insurers
Apr 15 2013 // Mutual insurers have found themselves in a prime position to capitalize on changes in the traditional reinsurance market, according to Willis Re, the reinsurance broking arm of Willis Group Holdings. Its newly released...
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...
