Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Best Affirms, Assigns Ratings to GEICO and Affiliates; Outlook Stable
Jun 25 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of the members of Government Employees Group (GEICO), which is based in...
Re/insurers Join Efforts to Support UN’s Principles for Sustainable Insurance
Jun 25 2012 // A number of insurers and reinsurers have agreed to join the UN-backed set of Principles for Sustainable Insurance. The initiative aims to provide insurance tools for risk management in support of environmental, social and...
Health Insurers to Pay $62M in Rebates in Illinois
Jun 22 2012 // The Obama administration has announced that 300,000 Illinoisans will benefit from nearly $62 million in rebates from insurance companies because of the federal health law that critics have labeled...
White Mountains Acquires 2 PICO Holdings Insurers in Run-Off
Jun 22 2012 // White Mountains Solutions Holding Co. , a wholly owned subsidiary of White Mountains Insurance Group, Ltd. and the group’s specialist runoff acquisition operation, has agreed to acquire Physicians Insurance of Ohio...
Health Insurers to Rebate $1.1 Billion
Jun 22 2012 // U.S. health insurance companies are due to pay out $1.1 billion in rebates to employers and individuals this summer, under a new industry regulation imposed by President Barack Obama’s health care law, the...
Law Firms’ Insurers to Compensate Investors Hurt by Mortgage Crisis
Jun 21 2012 // In a rare instance of law firms compensating investors burned in the mortgage meltdown, Greenberg Traurig and Quarles & Brady moved closer on Wednesday to settling a class action that accused them of participating in a...
Looming Agent Retirements: Carriers Face Major Turnover
Jun 21 2012 // More than 25 percent of independent agency owners and principals are planning to retire or change careers and sell their firms sometime in the next five years, according to a new survey that explores agent attitudes about...
Insurer Sues Nocal Surgery Firm Over Alleged Overbilling
Jun 21 2012 // United Healthcare Services has filed a $39 million lawsuit against a Northern California company that manages five outpatient surgery centers, claiming the firm overbilled the insurance carrier and offered doctors...
New CEO Named for R.I.-Based Narragansett Bay Insurance Company
Jun 20 2012 // Pawtucket, R.I.-based Narragansett Bay Insurance Company has named Todd Hart as the new chief executive officer after a national search. Narragansett Bay founder Nick Steffey, who has stepped down from the CEO role, will...
Texas Insurance Commissioner: Problems with Wind Insurer not New
Jun 20 2012 // Texas’ top insurance regulator says the precarious financial position of the state’s insurer of last resort for properties in coastal areas is nothing new. Responding to a letter sent to her by State Rep. John...
UK Insurer Cancels Coverage on Russian Ship Going to Syria
Jun 20 2012 // A British company said Tuesday it has cancelled insurance for a Russian ship it says was carrying munitions to Syria – a shipment the British government says included refurbished military helicopters. U.K.-based...
Best Affirms Argo Re, Argo Group and Subs Ratings; Outlook Stable
Jun 20 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Argo Re Ltd. and its subsidiaries, as well as the ICR of...
Mass. Insurers Pledge to Keep Key Benefits of Federal Healthcare Law
Jun 19 2012 // The largest health insurers in Massachusetts say they plan to keep two popular provisions of the federal healthcare law even if the U.S. Supreme Court decides to overturn it. Blue Cross Blue Shield of Massachusetts,...
Rates for Good Drivers in Cities Too High, Too Variable, Says Consumer Group
Jun 19 2012 // The Consumer Federation of America (CFA) says that most good drivers — those with no accidents or moving violations — who live in moderate-income areas in 15 cities are being quoted what the group maintains are...
Best Affirms Kemper Corp., Subs and Affiliates Ratings
Jun 18 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the property/casualty subsidiary and affiliated insurance companies...
Best Affirms Tower U.S. Pool and Affiliated Companies Ratings
Jun 18 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the pooled and reinsured members of the Tower US Pool. Best also...
P/C Insurers, Brokers Added More Jobs, Data Shows
Jun 18 2012 // In early June, the U.S. Labor Department’s Bureau of Labor Statistics released detailed employment statistics for the month of April. The data shows that P/C insurers added 800 jobs in April, for the total of 526,300...
Penn. Judge Says Insurer Must Cover Sandusky’s Legal Bills for Now
Jun 18 2012 // A judge ruled on June 4 that Federal Insurance Co., part of Chubb Group of Insurance Companies, must continue to cover Jerry Sandusky’s defense costs, at least for now. Sandusky is the former Penn State assistant...
Michigan Court Rules for Insurer in Tragic Hit-and-Run
Jun 18 2012 // The Michigan Supreme Court says an insurance company doesn’t have to pay benefits in a hit-and-run case because the incident wasn’t reported within 30 days. The court’s conservative majority overturned a...
Looming Agent Retirements: Carriers Face Major Turnover
Jun 18 2012 // More than 25 percent of independent agency owners and principals are planning to retire or change careers, and sell their firms sometime in the next five years, according to a new survey that explores agent attitudes about...
