Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Bond Insurer Ambac Sues JPMorgan Over Mortgage Losses
Apr 2 2012 // Ambac Financial Group Inc., the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase & Co. to recover losses on securities it insured that were made by a unit of the former...
MICC Urges MENA insurers to Become National Champions, Regional Players
Apr 2 2012 // A recent bulletin points out that the “future of the MENA [Middle East North Africa] Insurance market remains bright, but the local insurance companies must start their transition from fragmented companies to become...
PwC, CBI Survey Finds, Growth ‘Modest Optimism’ in UK Financial Services
Apr 2 2012 // A new survey, released by PricewaterhouseCoopers LLP (PwC) and the Confederation of British Industry (CBI) highlights an “unexpected rise in employment,” as well as growth and “modest optimism” in...
Regulators and the Business of Climate Change-Related Risk
Apr 2 2012 // For more than three years, a handful of insurance regulators and global warming activists have been trying to prod the insurance industry into taking unspecified action to address the “risks” associated with...
CEO of Pennsylvania Insurer Highmark Charged With Assault
Mar 30 2012 // The chief executive officer of a major western Pennsylvania insurance company is facing charges of simple assault and defiant trespass relating to a fight with the husband of an employee he was having an affair...
IBM’s Algorithmics, Insurers Analyze Solvency II Compliance Preparation
Mar 30 2012 // Despite delays and complaints the European Union’s Solvency II regulations, which cover the insurance industry, are slowly but surely moving forward. While most of the industry is primarily concerned with the...
Missouri Workers’ Comp Insurer To Pay $2M Dividend
Mar 29 2012 // Missouri Employers Mutual Insurance Co. says it will pay more than $2 million in dividends this spring to more than 11,000 policyholders. The Columbia-based workers’ compensation insurance company says the payments...
Southeast Non-Standard Auto Insurer Peachtree Acquired by California Firm
Mar 29 2012 // A Florida domiciled auto insurer that provides coverage to 18,000 drivers in the state and Georgia has been acquired by California equity firm looking to enter the non-standard market. Peachtree Casualty Insurance Co. is...
Philadelphia Insurance Companies Announces Promotions
Mar 26 2012 // Philadelphia Insurance Companies announced promotions for three marketing executives. Brian O'Reilly Brian O’Reilly has been promoted from senior vice president of marketing to senior vice president of the eastern...
Washington Mutual Sues Its D&O Insurers, Seeks Up to $250M
Mar 26 2012 // Washington Mutual Inc. recently filed a lawsuit against a dozen insurance companies that had provided directors’ and officers’ coverage. The troubled bank holding company that just completed its Chapter 11...
Maine Court Says Insurer Not Required to Cover Worker’s Road Rage
Mar 24 2012 // Maine’s supreme court says a business’ insurer isn’t obligated to cover damage caused by a company driver during an incident of road rage. The court ruled unanimously Thursday in a case brought after The...
Missouri Insurance Company Sues Over Mamtek Bonds
Mar 23 2012 // Columbia, Mo.-based Shelter Insurance has filed a $390 million lawsuit against a Memphis firm that it says failed to do due diligence on a municipal bond offering for the failed Mamtek sweetener plant project in...
Washington Lawmakers Vow To Push Abortion Insurance Bill
Mar 22 2012 // Democratic lawmakers said Tuesday that they will try to pass a bill during the current special session requiring insurers who cover maternity care – which Washington insurers are mandated to provide – to also pay for...
Cargo Theft Reporting Improves, Says Insurers’ CargoNet
Mar 21 2012 // Reporting of cargo theft in the United states has improved thanks to data sharing by insurers, the transportation industry and law enforcement, according to an insurance industry tracking service. CargoNet, which was...
Florida Insurers Wary of PIP Rate Rollbacks Timed for October
Mar 21 2012 // While state officials are widely praising Florida’s new no-fault auto insurance law, insurers are wary of having to implement rate decreases before there is a corresponding drop in losses as the new law...
Celent Survey Forecasts Insurers to Spend $140.6 Billion on Technology in 2012
Mar 21 2012 // Global information technology spending by insurance companies is expected to reach $140.6 billion in 2012, an increase of 6.3 percent over 2011, according to a new report from Celent, part of the Oliver Wyman (MMC) group....
Municipal Defaults – Already 21 in 2012 – Another Blow for Bond Insurers
Mar 20 2012 // A growing number of U.S. cities are choosing to fund essential services like public safety and garbage collection over making payments on their outstanding debt, as rising costs and falling revenue deplete their...
Insurer Group: Wisconsin Lawmakers Pass Business Friendly Legislation
Mar 20 2012 // Despite a contentious legislative session, Wisconsin lawmakers successfully passed many bills that will help consumers and improve the state’s business climate, according to the Property Casualty Insurers Association...
N.Y. Reaches Settlement With Insurer on Lead Screening
Mar 19 2012 // New York Attorney General Eric Schneiderman says his office has reached a settlement with Excellus BlueCross BlueShield that requires the health insurer to process claims for routine childhood screenings for lead and...
Agents Say Some Are Gaming System, Overselling Citizens’ Policies
Mar 19 2012 // Independent agents in Florida are calling on the state-run property insurer Citizens Property Insurance Corp. to staunch the flow of policies from agents employed by direct writers. The independent agents, who represent...
