Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Lawyer Says Cruise Lawsuits Will Force Insurers to Demand Higher Standards
Feb 9 2012 // Insurers stung by multi-million dollar claims over the Concordia shipwreck will demand higher safety standards from the cruise industry, a lawyer who will file suits this month against Carnival Corp for more than 70...
Have Insurers Lost the Capacity to Run an Underwriting Profit?
Feb 9 2012 // We frequently hear people ask, “When is the next hard market going to come?” And by that they typically mean double-digit increases in premium growth for a sustained period of time. Of course, no one knows. But...
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Feb 7 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...
Geneva Association Report Analyzes Re/Insurers’ Insolvency Resolution
Feb 7 2012 // International insurance think tank, The Geneva Association, has published its latest report for the ongoing financial stability discussions at the G-20, Financial Stability Board and International Association of Insurance...
Chubb Sues Actress Marisa Tomei Over $129K Damage in NYC Apartment
Feb 6 2012 // Three insurance companies have sued Academy Award-winning actress Marisa Tomei in a New York court last week, seeking $128,755 in damages. Pacific Indemnity Company, Federal Insurance Company and Vigilant Insurance Company...
P/C Insurers’ Combined Ratio for 2011 Estimated at 107.5%
Feb 6 2012 // The U.S. property/casualty (P/C) industry reported its largest underwriting loss since 2006 and saw its operating performance deteriorate sharply in 2011, as catastrophe-related losses throughout the year wreaked...
Florida’s Citizens Eyes Risk Transfer
Feb 6 2012 // Florida’s Citizens Property Insurance Corp. has set the goal of moving at least $1 billion in risk back to the private capital markets while looking to lawmakers to make statutory changes that will assist the insurer...
Ground Shifting for Medical Liability Insurers: Moody’s
Feb 6 2012 // Although it comprises just over 2 percent of annual direct premiums for the U.S. property/casualty insurance industry, the medical professional liability (MPL) insurance business is integral to the U.S. healthcare system,...
Have Insurers Lost the Capacity to Run an Underwriting Profit?
Feb 6 2012 // We frequently hear people ask, “When is the next hard market going to come?” And by that they typically mean double-digit increases in premium growth for a sustained period of time. Of course, no one knows. But...
What to Know About Public Entity Self-Insured Retention Programs
Feb 6 2012 // Public entities across the nation must professionally manage the numerous required services that communities demand. Such services are expensive to operate and, in recent tight budget years, entities are often forced to...
Florida Senate Panel Clears PIP Fraud Bill But House Showdown Looms
Feb 5 2012 // Florida lawmakers are heading to a showdown over the state’s no-fault automobile insurance law with state Senate lawmakers seeking to reform current law as opposed to a House plan that would repeal the law in favor...
Insurer: Penn State Policy Limits Lawsuit Coverage
Feb 3 2012 // Penn State’s insurer wants a judge to determine if it has to provide coverage or pay for defense costs in a lawsuit over alleged child sex abuse by former football coach Jerry Sandusky, a newspaper reported...
Senate Bill on Iran Sanctions Targets Banks, Subsidiaries, Insurers
Feb 3 2012 // Banking transactions with Iran and financing for its oil shipments could come under tougher scrutiny after a bipartisan sanctions bill easily passed a key U.S. Senate Committee on Thursday. The Senate Banking Committee...
West Virginia Mutual Names Wallace President, CEO
Feb 2 2012 // Physician insurer West Virginia Mutual Insurance Co. is under new leadership after naming R. Austin Wallace to serve as president and chief financial officer. Wallace served on the Charleston-based insurer’s board of...
California’s Jones Announces Multi-State Effort on Climate Risk Disclosure
Feb 1 2012 // California Insurance Commissioner Dave Jones on Wednesday announced that the California Department of Insurance has joined with Washington and New York to require insurers to disclose the effects of climate change on their...
New Tool Helps P/C Insurers Manage Volatility of Catastrophe Models
Feb 1 2012 // A new risk management tool promises to help insurance companies understand wide swings in loss estimates from traditional catastrophe models and better plan for large loss events. Karen Clark & Co. (KCC), founded by a...
Report: California Workers’ Comp Insurers Returns Improved in 2010
Jan 31 2012 // After declining for four consecutive years, California workers’ compensation insurers’ return on net worth showed signs of improvement in 2010. That’s according to the data from the National Association...
Lime-St.com For Underwriters Launches Cloud Computing for Insurers
Jan 31 2012 // London Market technology specialists TriSystems has announced the launch of a new electronic underwriting service to complement their electronic broking platform, which, the company said, marks “a significant shift...
French P/C Insurers’ Outlook Now Stable: Moody’s
Jan 31 2012 // In a new industry outlook published today, Moody’s Investors Service says that it has changed the outlook for the French property and casualty (P/C) sector to stable from negative, reflecting insurers’ smooth...
Consumer Group Charges Auto Insurers with ‘Disparate Treatment’ of Low Income Families
Jan 30 2012 // A consumer group on Monday issued a study that alleges “disparate treatment” of low-to moderate-income families by auto insurers nationwide. The group is asking state insurance commissioners to consider...
