Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
$42.7M Rate Reduction for California Policyholders of ‘Force-Placed’ Insurer
Oct 23 2012 // California Insurance Commissioner Dave Jones announced a 30.5 percent rate reduction, for “lender-placed” homeowners’ insurance coverage offered by American Security Insurance Co., an Assurant Inc.-owned...
Florida Approves More Policy Takeouts at Citizens; Also OKs Commercial Rate Hikes
Oct 23 2012 // Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal...
As Hedge Funds Cater to Insurers and Pensions, Rich Investors Turn Away
Oct 23 2012 // Rich private investors are turning their backs on hedge funds because moves to attract more conservative pension fund clients mean managers no longer deliver the big returns they crave. The fastest growing source of new...
Argentina to Require Insurers to Invest to Boost Economy
Oct 23 2012 // Argentine President Cristina Fernandez said on Monday insurers would have to invest some of their funds in production and infrastructure projects as she seeks to boost sluggish economic growth. Latin America’s No. 3...
Why the ‘Insurance Consumer Protection and Solvency Act’ Seems Destined to Fail
Oct 22 2012 // The debate over double taxation usually takes place in connection with capital gains or dividend taxes. But Republicans have introduced a bill that seeks to amend the Dodd-Frank Wall Street Reform and Consumer Protection...
Florida’s Citizens Puts Brakes on Surplus Note Program
Oct 22 2012 // By Michael Adams Florida’s state-backed property insurer has put the brakes on its plan to loan private insurers up to $350 million in surplus while it addresses a growing wave of criticism from lawmakers, elected...
Using Social Media Responsibly
Oct 22 2012 // Social media are changing the way insurance professionals do business. How can these forms of media, such as Pinterest, Twitter, Facebook and LinkedIn, help make your business more successful? And how can you protect...
California Legislature not Hesitant to Act on Insurance Issues
Oct 22 2012 // Dysfunctional. Inefficient, Ineffective. Slow. Partisan. Irrelevant. These are terms that regularly appear on editorial pages and political blogs to describe the California Legislature. It is true that when the Legislature...
California City Seeks to Cut Asthma Rate via ‘Social Impact’ Bond Issue
Oct 19 2012 // The city of Fresno, Calif., will be the first municipality in the United States to see whether “social impact bonds,” an innovative security that promotes a societal benefit, can be used to tackle a major...
Louisiana Supreme Court Reduces Insurer Citizens’ Late Payment Penalty
Oct 19 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,...
Insurers Should Face Capital Charge on Risky, Non-Core Activities: Regulators
Oct 17 2012 // Insurers involved in risky activities outside their core business, such as derivatives trading, should hold extra capital to limit the danger they might destabilize the financial system if they go bust, global regulators...
Chairman Nelson Talks About the Future of Lloyd’s
Oct 16 2012 // Lloyd’s of London Chairman John Nelson knew when he acceded to his post one year ago that his predecessor, Lord Peter Levene, would be a hard act to follow. Levene served for nine years and oversaw significant...
European Insurers Still Facing Economic Uncertainty: A.M. Best
Oct 16 2012 // The Eurozone financial crisis continues to be among the most significant challenges facing insurers, although capital is strong for the European primary insurance market, according to A.M. Best Co. In a new report,...
Rising Rates Not Enough to Ease Pressure on UK Insurers
Oct 15 2012 // Market conditions for UK non-life insurers remain challenging as the difficult economic environment curbs demand for coverage and insurers can no longer rely on reserve releases to improve profitability, according to a...
Boston-Based Med-Mal Insurer Coverys Appoints Chief Operating Officer
Oct 15 2012 // Coverys, a Boston-based medical professional liability insurer, announced that Jack Donehue, former chief financial officer for Coverys (then called ProMutual Group) from 1989 to 2010, has returned to the organization as...
3 Reasons Florida’s Citizens Loan Plan Is Bad Idea
Oct 15 2012 // It’s been years since a major hurricane has hit Florida, and the good news for Floridians is that property insurers are filing applications to write policies in the state again. But there’s a plan being hatched...
Florida’s Citizens Puts Brakes on Surplus Note Program
Oct 12 2012 // Florida’s state-backed property insurer has opted to put the brakes on its plan to loan private insurers up to $350 million in surplus in order to address a growing wave of criticism from lawmakers, elected...
EU Insurers Strip Coverage from Tankers Storing Iranian Oil: Reuters
Oct 12 2012 // Two European insurers have withdrawn cover for tankers involved in the Iranian oil trade, the first such move since tough new sanctions were imposed in July, documents obtained by Reuters show. The tankers, operated by...
India’s Battered Insurers May Need More than Foreign Investment
Oct 10 2012 // India’s proposal to allow more foreign investment in its $41 billion insurance business provides a lifeline for an industry starved of capital and squeezed by regulation – but it may not pass parliament and it...
Tennessee Regulators Say Insurers Weighing Shift in Roofing Policies
Oct 9 2012 // Tennessee regulators observed that in recent months, some property/casualty insurers in the state have filed to expand or shift their roofing policy terms to include actual cash value policies. As a result,...