Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Calif. State Fund May Recommend Workers’ Comp Rate Drop in Days
Oct 4 2012 // Editor’s Note: This is the second in a series of articles to look at California’s workers’ compensation reform law in detail and what must be done to implement that law by Jan. 1, 2013. California’s...
Surplus Lines: Regulators Vetting of Alien Nonadmitted Insurers
Oct 4 2012 // The National Association of Insurance Commissioners (NAIC) is a non-profit entity that acts as the trade association for state insurance commissioners. Although the NAIC may play a central role in regulation of the...
North Carolina Insurers Seek 17.7% Increase in Homeowners Rates
Oct 4 2012 // North Carolina homeowners could see their first rate increase in four years as the state’s rating bureau called for a statewide average 17.7 percent increase in loss cost rates. The North Carolina Rate Bureau filed...
Florida Approves 10.8% Rate Hike for Citizens; Also 21.4% for Sinkholes
Oct 4 2012 // Florida regulators have approved a 10.8 percent statewide average homeowners insurance rate increase and a 21.4 percent increase in sinkhole rates for the state-backed property insurer. Insurance Commissioner Kevin McCarty...
P/C Insurers’ Profits Jump in First Half as Catastrophe Losses Drop
Oct 4 2012 // U.S. property/casualty insurers’ net income after taxes jumped to $16.4 billion in first-half 2012 from $4.8 billion in first-half 2011, with insurers’ overall profitability as measured by their annualized rate...
Best Affirms QBE’s U.S. Subsidiaries Ratings; Upgrades Some ICR’s
Oct 2 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of the pooled and reinsured members of QBE North America Insurance Group...
Florida Insurers’ Filings on PIP Rates Due Today
Oct 1 2012 // Automobile insurers have until today to show Florida regulators how much, if at all, they plan on reducing rates on the personal injury protection, or no-fault, portion of drivers’ policies. This could mean that...
Insurer Must Pay Missouri Firm $11M in Supply Chain Interruption Case
Sep 30 2012 // A federal jury ordered an insurance company to pay $11 million to a Joplin, Mo., company for damages caused by an oil pipeline leak. A federal jury in St. Louis returned the verdict. TAMKO Building Products Inc. said in a...
Calif.’s Brown Record ‘Solid’ on Insurance Legislation
Sep 28 2012 // Gov. Jerry Brown saw over a dozen bills related in some way to insurance come across his desk, with a bill to approve driverless cars, a bill to overhaul California’s workers’ compensation system among...
Oklahoma Legislator Criticizes Insurer Premium Tax Credits
Sep 28 2012 // The head of a state House committee that’s scrutinizing millions of dollars in business tax credits is questioning the growth in credits used by insurance companies and whether the state should be reimbursing...
EU Insurers’ Capital Charges May be Cut to Boost Loans
Sep 28 2012 // Capital charges for insurers in the European Union could be cut to encourage lending for long-term projects and help boost the flagging economy, the bloc’s executive body said in a high profile policy shift. The...
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...
