Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurer Sues Montana Over Asbestos Settlement
Feb 27 2012 // A Nebraska insurance company has filed a lawsuit against the state of Montana to recover $16 million that was used primarily to cover a sweeping financial settlement of asbestos-related claims from residents of the...
Florida Lawmakers Split on Workers’ Comp Drug Dispensing; Rate Cut Possible
Feb 27 2012 // Florida lawmakers appear headed toward a stalemate over how to rein-in the cost of physician-dispensed workers’ compensation prescription drugs. In an effort to force a deal, Senate lawmakers are calling for a...
AmWINS Transportation Underwriters Receives MGA Appointment for ‘A’ XV Rated Carrier to Underwrite Long Haul Truckers
Feb 27 2012 // Burlington, NC, 02/24/12 – AmWINS Transportation Underwriters is proud to be one of just five MGAs appointed with this ‘A’ XV rated carrier to underwrite this program, which targets above average for-hire...
Trial Date Set for Insurance Fraud with Ties to Frankel, Vatican
Feb 27 2012 // More than a decade after it was filed, a federal judge in Mississippi has set a tentative trial date in a lawsuit stemming from scams run by a notorious financier who looted $200 million from insurance companies and...
P/C Insurers Face Obstacles on Road to Hard Market
Feb 24 2012 // With interest rates low and looking like they will stay low for some time to come, property/casualty insurance companies will have to focus on making their profit on underwriting rather than on investments. However, P/C...
Bankers and Their Insurers Escape Big Penalties in FDIC Prosecutions
Feb 24 2012 // Like many banks engulfed by the mortgage crisis, First National Bank of Nevada specialized in risky home loans that didn’t require borrowers to prove their incomes. When the housing bubble burst, First National got...
Asia Insurer AIA Boosted by Surge in New Business
Feb 24 2012 // AIA Group Ltd, Asia’s No.3 insurer, reported a 40 percent rise in value of new business for its fiscal full year and growth in Thailand despite last year’s devastating floods, surprising analysts and sending...
Top Japan Insurer to Cut Coverage for Ships in Iran Under Sanctions
Feb 24 2012 // Japan’s main shipping insurer will only be able to provide a fraction of the coverage to tankers transporting Iranian oil under new European Union sanctions, officials said on Friday. Starting in July, European...
AIG Posts Huge Q4 Profit on Tax Benefit; Chartis Reports $348M Income
Feb 23 2012 // Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit. The move, which sent the...
Survey: 51% of Insurers Expect to Increase Staff in 2012
Feb 23 2012 // A new study says 51 percent of the insurance carriers recently surveyed expect to increase staff in the next 12 months. But it’s not all good news: the survey also found that 19 percent of the carriers expect to...
Trucker’s Widow Settles Mississippi Wrongful Death Claim with Insurer
Feb 22 2012 // A trucker’s widow has settled her 2011 wrongful death lawsuit with H&M International Transportation Inc.’s insurance company and a driver. Filed Feb. 8, the agreement with Rita Marie Bruce shows Brookwood...
There’s an App for That: Mobile Phone Quoting
Feb 21 2012 // Don’t be surprised if in the not-too-distant future on a television commercial you see Flo, adorned in her white apron, drop her price scanner and pick up a smartphone, on which she takes a picture of a...
Insurance Companies Dodge Billion-Dollar Bullet in California
Feb 21 2012 // Court Limits What Medical Bills Juries Can View Insurance companies, and ultimately California consumers, avoided a windfall sought by the Consumer Attorneys of California to the tune of more than $3 billion dollars per...
Report: Greek Bondholders – Banks and Insurers – Set for 74% Haircuts
Feb 21 2012 // Banks are set to lose almost three-quarters of the value of their Greek government bonds under a deal agreed early on Tuesday, slightly more than they had planned, people familiar with the matter said. Investors had...
Connecticut Seeks to Recapture Role as Insurance Capital
Feb 21 2012 // Hartford is trying to recapture its status as the nation’s insurance capital by drawing in a specialized insurance business that is finding a home elsewhere. Since the 18th century, Hartford — home to Aetna...
Colorado Defers Action on State-Chartered Workers’ Comp Fund
Feb 20 2012 // Colorado Gov. John Hickenlooper and Pinnacol Assurance, the state-chartered workers’ compensation fund, made the right decision earlier this month in deferring further consideration of plans to restructure Pinnacol....
Is Common Law Bad Faith Dying in Texas?
Feb 20 2012 // When a carrier is sued for denying a claim, it is usual for policyholders to raise claims of bad faith. For decades now, policyholders have frequently pled both common law (i.e., law created by cases) and statutory (i.e.,...
North Carolina Continues Auto Insurance Deregulation Debate; Rates Stay Same for 2012
Feb 20 2012 // Auto insurers in North Carolina are once again divided over the prospect of changing how the state sets insurance rates with some insurers advocating for rate deregulation while others are supporting the status quo. The...
Opening Note: Foreign Advice
Feb 20 2012 // Given global economic challenges, insurers might improve their chances for achieving success in 2012 by focusing on new insurance products and on emerging markets in China, India and Brazil. According to Deloitte’s...
California Lawmaker Introduces Claim Information Control Bill Over Insolvent Insurers
Feb 17 2012 // A California lawmaker on Friday introduced a bill to give greater control of claim information held by insolvent companies over to policyholders. Assemblyman Curt Hagman said he introduced Assembly Bill 1734 to provide...
