Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Approves State Farm 6.4% Homeowners Rate Increase
Sep 28 2012 // Florida regulators have approved an average 6.9 percent rate hike for State Farm Florida Insurance Co., which is the insurer’s fifth increase in as many years. The insurer had initially sought an average 14.9 percent...
Best Affirms Donegal Group’s Members, Affiliates Ratings; Outlook Stable
Sep 28 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the members of the Donegal Insurance Group, based in Marietta,...
Best Affirms Colonial Group and Subs Ratings; Outlook Stable
Sep 28 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the life/health and property/casualty operating subsidiaries of...
Bundlers of Joy: Satisfaction with Home Insurers at 12-Year High
Sep 27 2012 // Overall customer satisfaction with homeowners insurance companies is the highest in the 12 years J.D. Power and Associates has measured it, driven in part by the practice of bundling auto and homeowners insurance...
CDI Settles Enforcement Action Over Wildfire Claims
Sep 26 2012 // The California Department of Insurance has settled with the New Hampshire Insurance Company and its authorized agent York Risk Services Group Inc. for claims processing. The $285,000 settlement is a result of New Hampshire...
Give Insurance CIOs An Extra $5 Million and What Would They Buy?
Sep 26 2012 // If insurance industry chief information officers were given a sum, say $5 million, where would they spend it? Travel? Investments? Toys? Nope. They’d spend it on data and analytics. A study by Novarica, a research...
Florida’s Citizens Defends Proposed 11.2% Rate Increase at Hearing
Sep 25 2012 // Executives of Florida’s state-backed insurer defended a proposed statewide average 11.2 percent increase in homeowners rates as regulators, consumer advocates and other officials questioned the need for the...
Insurers Begin Providing Health Plan Buying Guides
Sep 25 2012 // The Obama administration on Monday began requiring health insurers to provide user-friendly guides to patients that explain their benefits, aiming to make buying insurance nearly as easy as scanning packages of food for...
Florida Rep. Hits Citizens for ‘Rushing’ Surplus Loan Proposal
Sep 24 2012 // A plan by Florida’s state-backed property insurer to loan private insurers millions of dollars in surplus in exchange for removing policies has not been properly vetted and is a sweetheart deal for a few insurers, a...
Insurer Ordered to Pay in North Carolina Parasailing Deaths
Sep 24 2012 // An insurance company has been ordered to finish paying $100,000 in the 2009 deaths of two women who were parasailing in Ocean Isle Beach. The StarNews of Wilmington reported that the president of Marine Specialty...
E&O Insights: Know the Details When Insuring Cargo
Sep 24 2012 // It’s important to know all of the details when looking to insure risks with a cargo exposure. Because no two risks are the same, the underwriter will look to the agency to provide those details to fully understand...
Florida’s Citizens to Loan Surplus to Private Insurers
Sep 24 2012 // Florida’s state-backed property insurer is considering investing in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The move is an attempt by...
Official: Texas Coastal Insurer Is Unsustainable
Sep 24 2012 // The Texas Windstorm Insurance Association is not sustainable and likely won’t be until the state spreads the costs of risks associated with major hurricane strikes beyond just Texans living in coastal areas, the...
Insurers Face Tougher Times as Somali Piracy Drops
Sep 21 2012 // A dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers. International...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Sep 20 2012 // A report out Thursday urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those endorsing...
Agents Cite Advance in Fight Against Medical Loss Ratio
Sep 20 2012 // A House subcommittee has advanced a bill that would exclude agency commissions from the formula that limits how much health insurers can spend on administrative and other non-medical costs. The U.S. House of...
Industry Faces Cyber Risks in Shift from Tangible to Intangible Property
Sep 20 2012 // If Mike McGavick is right, the business world will soon be carrying the equivalent of a massive data base in a cell phone. Technology has moved so rapidly that not only the insurance industry, but also business in general,...
Missouri Licenses 25th Captive Insurer
Sep 19 2012 // The Missouri Department of Insurance announced it has licensed its 25th captive insurance company. The state began allowing captive formation in 2007 and had just three licensees before Gov. Jay Nixon signed House Bill 577...
Heightened Regulation Forcing Insurers to Focus on Modeling Risks: Conning
Sep 19 2012 // The growing level of activity among regulatory bodies and quasi-regulatory agencies focused on strengthening insurance solvency protection systems, particularly regarding increased risk capital and enhanced risk...
Flood Insurer Fidelity National Indemnity to Change Name to Wright Flood
Sep 19 2012 // Flood insurance company Fidelity National Indemnity Insurance Co. is being renamed Wright National Flood Insurance Co. The name change must be approved by the Texas Department of Insurance. Wright National Flood is a...
