Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Bank of America Settles Mortgage Fraud Lawsuit with Bond Insurer Syncora
Jul 18 2012 // Bank of America Corp. has agreed to pay $375 million to settle a case brought by bond insurer Syncora Guarantee over toxic mortgage-backed securities at the center of the 2008 financial crisis. Syncora sued Bank of America...
Florida Citizens’ Chief Sets 500K Policy Depopulation Target
Jul 17 2012 // Maintaining there is no disagreement on the objectives of Florida’s state-backed property insurer, Citizens Property and Insurance Corp. President Barry Gilway says he hopes the insurer will reduce its policyholder...
A Year Later: Growth and Outlook of LexisNexis Insurance Exchange
Jul 16 2012 // The LexisNexis Insurance Exchange — an online single-entry submission system that streamlines the flow of application data among agents, brokers and carriers — celebrated its first anniversary last month. The Exchange,...
Florida’s Citizens to Weigh Rate Hikes Today
Jul 16 2012 // The new president of the state-backed Citizens Property Insurance Corp. meets with the insurer’s governing board for the first time, looking for consensus on finalizing the insurer’s rate request for next...
EU under Pressure to Delay Solvency II Insurer Capital Rules
Jul 16 2012 // The European Union may be forced to put back the January 2014 start date for its Solvency II capital regime for insurers after talks to agree a final draft of the strict new rules collapsed, Europe’s top insurance...
UK Auto Insurer Direct Line in Play as Private Equity Groups Circle
Jul 16 2012 // Direct Line, the UK’s largest motor [auto] insurer run by government-owned Royal Bank of Scotland, is a takeover target for private equity groups looking to pre-empt what would be one of the biggest initial public...
Michigan Regulators: Consumer Complaints Against Insurers Drop in 2011
Jul 13 2012 // The Michigan Office of Financial and Insurance Regulation (OFIR) reported that consumer complaints against insurance companies dropped slightly in 2011, compared with 2010. Consumer complaint statistics for insurance...
RSA Is Latest Insurer to Join Managing General Agents’ Association
Jul 13 2012 // Global insurer RSA has become the latest member of the London-based Managing General Agents’ Association (MGAA), which now has 50 members with a combined underwriting capacity of £1.4 billion [$2.33 billion] in...
GMI Adds Plaza Insurance to Business Auto Carrier List
Jul 12 2012 // GMI Insurance has expanded its business auto program with the addition of Plaza Insurance Co., an admitted carrier in 47 jurisdictions. Eligible accounts for GMI’s business auto program include automobile fleets that...
Wisconsin Court: Insurer Must Defend ‘Junk’ Fax Lawsuit
Jul 11 2012 // A Milwaukee heating and air conditioning company’s insurance provider must defend the business against allegations it sent out an unsolicited “junk” fax in violation of federal law, a state appeals court...
Driving History Seen as Predictor of Individual’s Lifespan
Jul 11 2012 // It appears that bad drivers live shorter lives than good drivers and not just because they get in accidents. The same motor vehicle driving records already widely used to help determine how much a consumer pays for car...
Japan Insurers Expand Cover to Boost Iran Oil Shipping Capacity
Jul 11 2012 // Japanese insurers are expanding their maritime coverage to allow more domestic tankers to transport Iranian crude, as Tokyo looks to keep oil flowing despite tough Western sanctions, industry sources said on...
Some South Central Agencies See Potential in Dynamic Health, Benefits Market
Jul 11 2012 // The South Central region of the country, particularly Texas, has been a hotbed of activity when it comes to mergers and acquisitions of smaller health and benefit agencies. The reason, according to agencies in the region,...
Portable Persistency Now Prop. 33; Consumer Watchdog Attacks
Jul 10 2012 // An initiative to establish portable persistency discounts for automobile insurance on Tuesday was assigned a number by the Secretary of State, and shortly afterward the newly named Proposition 33 came under attack by Santa...
Policy Counts for States’ Property Insurers of Last Resort Grew 17% in 2011: III
Jul 10 2012 // A record-high 3.31 million residential and commercial policies were offered through state-run property insurers of last resort in the United States in 2011, a 17 percent increase over the previous record of 2.84 million in...
Virginia Insurance Regulator Offers Post-Storm Advice
Jul 6 2012 // The series of deadly storms that struck much of the mid-Atlantic last week left 12 people in Virginia dead and extensive damage in their wake. Virginia Insurance Commissioner Jacqueline Cunningham is advising consumers to...
UK Insurer Aviva Culls Units in Turnaround Drive
Jul 6 2012 // Aviva, the UK’s No.2 insurer, plans to sell or close more than a quarter of its businesses in a shake-up aimed at regaining the support of investors irked by the group’s flagging share price. The company, whose...
N.Y. Regulator Seeks Insurer Data in 9/11 Case
Jul 5 2012 // New York’s top insurance regulator has directed insurers to detail payouts and reserves for claims in the 2001 World Trade Center attacks in an effort to prompt settlement of the decade-old federal case. Benjamin...
Illinois Places 2 Mutual Insurers into Rehabilitation
Jul 5 2012 // Illinois insurance regulators announced that Lumbermens Mutual Casualty Co. (Lumbermens) and American Manufacturers Mutual Insurance Co. (American Manufacturers) have agreed to being placed into rehabilitation. The...
Stockton, California Set for Bankruptcy Hearing; Bond Insurer Vows Fight
Jul 3 2012 // Lawyers for Stockton, California will appear for the first time in a Sacramento court this week to make their case for protecting the city from its creditors in bankruptcy. Stockton, a city of nearly 300,000 in...
