Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Cabinet Approves PIP Benefit Rule Sought by Insurers
Dec 13 2012 // Florida officials have approved an emergency rule that will allow auto insurers providing no-fault coverage to use a form informing accident victims of their benefits under the state’s revised personal injury...
Commentary: Lessons From Recent Decisions on Bad Faith Litigation
Dec 12 2012 // A rising tide of first-party bad faith decisions is defining the contours of the bad faith cause of action. Recently, three courts have found first-party insurance companies liable for bad faith claims handling. However,...
Geneva Association Analysis Compares 28 Banks’, Insurers’ Systemic Risk
Dec 11 2012 // International insurance think tank, The Geneva Association has published a cross-industry analysis comparing the named 28 Global Systemically Important Banks (G-SIBs) to 28 of the world’s largest insurers on...
Sandy to Have Only Limited Impact on Insurer Ratings: S&P
Dec 11 2012 // Despite uncertainties regarding final loss totals from Hurricane Sandy, Standard & Poor’s Ratings Services said it expects only a limited ratings impact on insurers and reinsurers exposed to such losses,...
Ohio Auto Salvage Bill Pits Industry Against Insurers
Dec 10 2012 // Ohio’s salvage industry says proposed state legislation that would open the auto salvage auction market to unlicensed buyers could cost up to 2,500 salvage jobs and eliminate consumer protection. Opponents of Senate...
Commercial Insurers Continue Raising Rates, Improve Loss Ratios: Towers Watson
Dec 10 2012 // Commercial insurance prices in aggregate increased by six percent during the third quarter of 2012, the seventh consecutive quarter that aggregate prices for all commercial lines rose. The latest Commercial Lines Insurance...
Alabama Insurer Alfa Seeks to Reverse Business Decline
Dec 10 2012 // The new president of the Alabama Farmers Federation and Alfa Insurance is fine with where the sister organizations are politically. It’s the huge drop in insurance customers he wants to change. Chilton County farmer...
Texas Wind Insurer: Agent Login Will Change Dec. 13
Dec 7 2012 // The Texas Windstorm Insurance Association is advising agents that the web address for its E-Quote login will change on Dec. 13, 2012. The old login address, https://quote.twia.org/twia/do/login, for use prior to Dec. 13,...
Keystone Insurers Group Continues Expansion in Georgia
Dec 6 2012 // Keystone Insurers Group has added two new franchise partners in Georgia: Boswell Insurance Group of Athens and Ash/Welborn Insurance of Cornelia. About the new Keystone partners: Boswell Insurance Group – Formerly...
Mediation In Montana Church Abuse Lawsuits Set For April
Dec 6 2012 // Attorneys for the Roman Catholic Diocese of Helena, a Montana order of nuns and hundreds of alleged sex-abuse victims said this week they will try to hammer out a settlement during a mediation conference in April,...
Florida Lawmakers Ponder More Pricing Freedom for Property Insurer Citizens
Dec 6 2012 // Some Florida legislators said this week they would consider giving the state’s largest property insurer more control over its rates, including allowing the company to raise rates to bolster its ability to pay...
North Carolina Reaches $1.6 Million Rebate Settlement with Insurers
Dec 6 2012 // North Carolina Insurance Commissioner Wayne Goodwin announced an agreement with two insurers that will result in consumers receiving $1.6 million in refunds. American Modern Home Insurance Co. and its affiliate American...
Obamacare Medical Loss Ratio Saved $1.5 Billion in 2011: Report
Dec 5 2012 // Consumers saw nearly $1.5 billion in insurer rebates and overhead cost savings in 2011, due to the Affordable Care Act’s medical loss ratio provision requiring health insurers to spend at least 80 percent of premium...
NYC Marathon Organizers Likely to Get Millions From Event Insurance
Dec 5 2012 // The New York Road Runners — a non-profit community running group and the organizer of the annual New York City Marathon — could get millions of dollars in insurance proceeds thanks to its event cancellation...
Mass. Motorcyclists to Get $2.8M Refunds From Encompass, Amica Mutual
Dec 4 2012 // Massachusetts motorcycle owners will receive more than $2.8 million in insurance refunds as a result of settlements with two insurance companies that allegedly overcharged thousands of policyholders, according to...
Best’s Report on Bermuda Re/Insurers Sees over 10% ROE for 2012
Dec 4 2012 // There are still several weeks until the end of the year, but forecasts are unlikely to change very much as far as Bermuda’s re/insurers are concerned. A new special report from A.M. Best indicates that “2012 is...
Best Affirms Munich Re and Subs ‘A+’ Ratings; Outlook Stable
Dec 3 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed all...
Fitch Downgrades Argentine Insurers Ratings after Sovereign Downgrade
Dec 3 2012 // Fitch Ratings has downgraded the long-term National Scale ratings of 12 insurance companies in Argentina, and has also revised the companies’ rating outlooks to negative from stable. Fitch said it took the rating...
Texas Mutual Looks to Sever Last Ties to State Oversight
Dec 3 2012 // The insurer of last resort for workers’ compensation coverage in Texas is seeking to cut its last ties to the state government that created it. Texas Mutual Insurance Co. was established by the Texas Legislature in...
Theft and Vandalism Claims Have Carriers on Edge in Vacant Property Segment
Dec 3 2012 // Insurers are restricting the availability of theft and vandalism coverage in the vacant property insurance market, where there is still plenty of available business. Vacant property provided a boost for some insurers...
