Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Judge: 104-Week Limit on Temporary Disability Benefits Unconstitutional
Mar 7 2013 // A Florida district court judge’s ruling that declared unconstitutional a 104-week limitation on injured workers’ temporary benefits has left insurers and employers scrambling to come up with a legislative...
Report Questions Insurer Readiness, Attitudes on Climate Change
Mar 7 2013 // A report out Thursday that details responses to a climate change survey from insurers doing business in California, Washington and New York shows many insurers are prepared to deal with today’s extreme weather...
Will Wind/Hail Cosmetic Damage Exclusion Endorsements Become the Norm?
Mar 7 2013 // Cosmetic damage from wind and hail to homeowner and commercial properties may no longer be covered if insurers opt to use new endorsements, one for homeowners and another for commercial roofs, that are becoming...
Arizona House Approves Tax Credits For Three Insurers
Mar 6 2013 // The Arizona House gave final approval to a bill granting new tax breaks of $50 million over three years for insurance companies that invest in high technology companies. The bill being pushed by Republican House Speaker...
Bond Insurer MBIA Wins Dismissal of Bank Claim Over Restructuring
Mar 4 2013 // MBIA Inc. on Monday won the dismissal of a lawsuit by Bank of America Corp. and Societe Generale SA challenging its 2009 restructuring, sending the bond insurer’s shares up 24 percent. New York Supreme Court Justice...
Best Affirms Fireman’s Fund, Subs Financial Ratings; Lowers Credit Ratings
Mar 4 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent), but has downgraded the issuer credit rating (ICR) to “a” from “a+” of California-based Fireman’s...
Judge: Second Mile Insurer Not Obligated to Cover Sandusky’s Defense Costs
Mar 2 2013 // The insurance carrier for the children’s charity founded by former Penn State assistant football coach Jerry Sandusky doesn’t have to cover his criminal or civil legal costs related to acts of child sexual...
No Yahoo, Insurer Likes Work-at-Home Employees
Mar 1 2013 // For more than six years, Tammy Saunders has woken at 5:30 a.m., showered, dressed and walked upstairs – to her office. A nurse practitioner, Saunders works as a case manager for Hartford, Connecticut-based health...
International Insurers, Reinsurers to Shoulder Half of Sandy Losses: ABIR
Feb 28 2013 // International insurance and reinsurance companies are expected to cover half of total insured losses from Superstorm Sandy, an industry association said Thursday. Estimated losses from Superstorm Sandy currently stand at...
N.Y. Seeks to Finalize Still-Unresolved Sandy Claims; Insurers to File Weekly Reports
Feb 28 2013 // New York regulators said this week insurers would be required to follow additional rules to expedite the resolution of remaining Sandy-related claims in New York. These new regulations will now cut the amount of time an...
Insurers Split Over Proposed Changes to Florida Guaranty Fund
Feb 28 2013 // Florida lawmakers have kept alive a bill that would alter the method of funding the state fund that pays the claims of insolvent property insurers even though the change could increase costs and does not have the uniform...
Industry Group Testifies on Sandy Claims Handling Process in New York
Feb 27 2013 // An insurance industry association testified about insurers’ response to Superstorm Sandy and the lessons learned at a hearing Tuesday before the New York Assembly Standing Committee on Insurance. The American...
Best Sees No Ratings Change for UK Insurers Following Moody’s Downgrade
Feb 27 2013 // A.M. Best Europe – Rating Services Ltd. said it “does not anticipate any impact on its ratings of insurers operating in the UK as a direct consequence of the sovereign downgrade.” Best was referring to the...
Texas Auto Insurers Back Texting While Driving Restrictions
Feb 27 2013 // Texas’ major auto insurers support proposed legislation to prohibit texting while driving as the next logical step to prevent accidents and deaths on Texas’ increasingly crowded roadways. Beaman Floyd,...
Will Texas Windstorm Insurer Remain After the Legislative Session?
Feb 26 2013 // Texas’ property insurer of last resort in coastal counties may have a difficult time remaining intact during the 2013 legislative session. Claims from 2008’s Hurricane Ike still trickle in and ongoing...
N.Y. Insurers ‘Report Cards’ Show 70% of Sandy Claims Closed With Payment So Far
Feb 25 2013 // The New York regulators’ latest Sandy response report cards show 272,878 Sandy-related claims — representing 70 percent of some 389,801 Sandy claims filed in the state — have been closed with payment, as...
Data Suggest Some Insurers Handling NFIP Claims Faster Than Others
Feb 25 2013 // Up and down the Atlantic coast, people are telling horror stories about how long it has taken to get an insurance check for flood damage caused by Superstorm Sandy. Nearly 40 percent are still waiting for the final...
Building Updates: Aging Electrical Systems
Feb 25 2013 // The Agent’s Role as Advisor and Risk Manager Editor’s note: This is the first of a three-part series to explain insurers’ requirements for building updates and to help agents advise clients on mitigating...
California Commissioner Fingers Insurers for Iran Investments
Feb 25 2013 // California Insurance Commissioner Dave Jones in mid-February singled out eight insurers licensed to do business in the state that continue to have investments tied to Iran’s energy, military and nuclear...
Alabama Insurers Must Register or Face Fine
Feb 25 2013 // Hundreds of property/casualty insurance companies have not registered with Alabama regulators as required, prompting the state insurance department to issue a warning and extend the registration deadline to March 31. The...
