Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Iran Investment Bill Well-Intentioned, But Unconstitutional
Jul 23 2012 // In a May 7 speech during her visit to India, Secretary of State Hillary Clinton said that the principal threat to the world is a nuclear-armed Iran because Iran is a state sponsor of terrorism. It is understandable that...
Policy Counts for Property Insurers of Last Resort Up 17%
Jul 23 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 rise over the previous record of 2.84 million in...
Michigan Regulators: Consumer Complaints Against Insurers Drop in 2011
Jul 23 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...
Insurers Warn Restaurants on Exposures that Could Interrupt Recovery
Jul 23 2012 // The restaurant industry has endured a difficult few years and while some establishments didn’t survive the economic storm, those that did are anxious to see their business grow again. They may not have to wait too...
Competing in the New World of Benefits Brokerage
Jul 23 2012 // Costs Drive the Benefits Market; Focus Turns to Aiding Individuals Group health insurance brokerage is changing but the changes are not primarily due to Congress or the courts. Rather the changes are being driven by costs...
New York’s Top Regulator Seeks Insurer Data in 9/11 Case
Jul 23 2012 // New York’s top insurance regulator has directed insurers this month 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...
What to Know About the NEW & IMPROVED Flood Program
Jul 23 2012 // Now with Fewer Subsidies, Minimum Deductibles, Multifamily Coverage and More If it were a dam or a levee, it would have been replaced ages ago. Yet the National Flood Insurance Program (NFIP) has stayed afloat despite a...
Wisconsin Court Says Insurer Must Defend ‘Junk’ Fax Lawsuit
Jul 23 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...
Virginia Begins Enforcing Proper Usage of Certificate of Insurance
Jul 23 2012 // Widespread misunderstanding regarding the proper use of certificates of insurance has led to new changes relating to their use, according to Virginia’s Bureau of Insurance. The changes went into effect July 1. The...
U.K.-Based Insurer Amlin Sets Up Reinsurance Unit in New Jersey
Jul 20 2012 // UK-based specialist insurer Amlin plc is setting up a U.S. market for casualty reinsurance targeting nationwide business with a focus on general and professional liability. The business will be sourced direct from U.S....
Record Number of Farmers Expected to File Crop Insurance Claims
Jul 20 2012 // The drought ravaging America’s prime farmland is having an unexpected consequence that could shape the future of agricultural finance: in some cases, farmers who have amped up their insurance coverage may be giving...
Insurers for Colleges May Tighten Underwriting After Penn St. Scandal
Jul 19 2012 // Liability insurance carriers and brokers that offer coverage to higher educational institutions have been watching the Penn State scandal unfold. And one broker says liability insurers are likely to tighten their...
UK Insurers Paying $26.6 Million a Day for June Floods ABI Reports
Jul 19 2012 // Insurers are set to pay up to £500 million [$782.3 million] or £17 million [$26.6 million] every day – to customers who have suffered flood and storm damage during the wettest June on record, according to latest...
South Florida Not Receptive to Citizens’ Rate Hike Plans
Jul 18 2012 // Executives and the board of governors of Florida’s largest state-back property insurer received a rude reception at a public rate hearing in Miami where they indicated they will consider increasing rates on existing...
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...
