Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
State Elections to Decide Insurance Commissioner, Ballot Initiatives, Court Contests
Nov 5 2012 // For the insurance industry, there is more at stake in the Nov. 6 election than who goes to or stays in the White House and Congress. The insurance industry will be watching who wins the gubernatorial races in 11 states,...
Program Business Hits $24.7B in 2011: Study
Nov 5 2012 // The program business market reached $24.7 billion in gross written premiums in 2011, up from $22.6 billion in 2010, according to a new industry study. Premium revenues increased 5 percent, according to the “State of...
Sandy Losses Within Hurricane Models, Manageable: Reinsurer Hiscox
Nov 5 2012 // Superstorm Sandy won’t put insurers’ finances under severe strain, and may allow them to push through a profit-boosting rise in prices next year, Hiscox , the biggest London-listed reinsurer, said on...
Insured, Uninsured Sandy Victims Try to Get Through
Nov 5 2012 // Standing in the driveway next to the charred shell of his house on Long Beach, Long Island, with the hood open to his water-logged, brand-new 2012 Subaru Outback, Bill Long heard the words so many in the path of superstorm...
Some Sandy Victims Wait As Insurance Adjusters Wait for Access, Prioritize Claims
Nov 5 2012 // Pat Groover called her insurance company on Tuesday morning, the day after a massive tree gave in to storm Sandy’s winds, ripped the front off a neighbor’s house and pulled siding and gutters off of...
P/C Insurers Can Handle Sandy Losses: A.M. Best
Nov 5 2012 // Ratings analysts at A.M. Best Co. said it is likely that the brunt of Hurricane Sandy’s financial impact will fall on the National Flood Insurance Program (NFIP), which is responsible for almost all flood coverage in...
Surplus Lines: Regulators Vetting of Alien Nonadmitted Insurers
Nov 5 2012 // The National Association of Insurance Commissioners (NAIC) acts as the trade association for state insurance commissioners. The Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) delegated to the NAIC responsibility for...
Insurer Drops Nebraska Man’s Policy Because of Police Dog, Then Apologizes
Nov 5 2012 // An insurance company that canceled the homeowner’s policy of a Nebraska sheriff’s deputy because of his K-9 unit dog said it’s looking to change its practices regarding police dogs. American Family...
Louisiana Supreme Court Reduces Insurer Citizens’ Late Payment Penalty
Nov 5 2012 // The Louisiana Supreme Court has relieved the state’s property insurer of last resort of the burden of paying a $125,000 penalty for late payment of a claim settlement stemming from Hurricane Gustav in 2008. Instead,...
Will Regulatory Reform Trigger Doomsday for Captives?
Nov 5 2012 // If you’re startled by this headline, you’re not alone. Until recently, the words “reform” and “captive” were rarely used in the same sentence. That’s because captive insurance...
What’s Ahead in Agency E&O
Nov 5 2012 // Competition, Hard Market, Healthcare Effects and More E&O Suits by Carriers Firmer insurance prices and an upward trend in agency revenues are signs of good times for most independent agencies. These same trends,...
Hurricane Deductibles Won’t Apply for Sandy in Del. Penn., R.I., D.C.
Nov 4 2012 // [Update: Maine also announced this week that hurricane deductibles would not apply for Sandy-related claims in the state. The Maine Bureau of Insurance told Insurance Journal Monday, Nov. 5, that hurricane deductibles will...
Florida Consumer Advocate Hits Use of Past Credit History to Deny Claims
Nov 2 2012 // Florida’s consumer advocate is calling for an investigation into insurers using homeowners’ past credit history to deny claims and cancel policies even though the homeowners have paid premiums for...
Insurers, Brokers Say Some Northeast Offices Still Closed Due to Sandy
Nov 2 2012 // Superstorm Sandy — and the widespread power outages and transport problems that followed — affected business operations of numerous companies in the Northeast, including those of insurers and brokers. Companies...
Insurer Says It Won’t Cover Armed Arizona Posse
Nov 2 2012 // An insurance pool that covers sheriff’s volunteers in 11 of Arizona’s 15 counties is changing its policies to exclude an armed volunteer posse that the state’s second most famous sheriff plans to deploy...
Controversy Over Hurricane Deductibles May Just Be Beginning
Nov 2 2012 // When the National Hurricane Center declared Sandy a “post-tropical storm” just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money....
Florida Court Weighs When Not Meeting Policy Terms Means Coverage Forfeiture
Nov 1 2012 // Florida’s high court is debating whether a driver forfeited her uninsured motorist coverage by refusing to meet the insurer’s specific requirement to undergo a scheduled medical exam. The state Supreme Court...
Hurricane Sandy Losses Should Not Affect Most Insurer Ratings or Premiums: S&P
Oct 31 2012 // Standard & Poor’s Ratings Services said it expects Hurricane Sandy to have only limited impact on the ratings on U.S. property/casualty insurers, global reinsurers, and certain catastrophe bonds. Although it...
Insurers Say Losses from Sandy Won’t Hit Florida
Oct 31 2012 // Insurance experts say the costs associated with losses from superstorm Sandy in the northeast should not affect Florida homeowners. Sam Miller of the Florida Insurance Council said Tuesday that the Florida market is...
Burand’s Agency E&O Blog: Tip #15
Oct 31 2012 // Review Your E&O Carrier’s Requirements for Carrier Writing Standards. There’s a myth going around that if an agency writes with a carrier rated B+ or better by A.M. Best, their E&O policy will cover...
