Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Say Something Nice About Florida Insurance
Mar 19 2012 // Even though there are many problems to be resolved, at least they are out in the open and are being discussed, not buried in some political jargon and dismissed. If we could just get the PACs out of the way… The...
Report: Arizona P/C Insurers See Premiums Written Fall, Losses Rise
Mar 19 2012 // A report on Arizona’s property/casualty insurers issued recently shows a drop in written premiums to $7.4 billion, and a large increase in losses incurred to $6.4 billion for 2010. The report, from the Arizona...
Missouri Workers’ Comp Insurer Scrutinized
Mar 19 2012 // Missouri state senators are looking at making changes to a state-created insurance company after an audit criticized the firm’s operations and expenses. State Auditor Tom Schweich wants lawmakers to investigate...
E&O Insights: What to Consider When Buying or Selling an Agency
Mar 19 2012 // There is a tremendous amount of mergers and acquisitions activity going on in our industry. Every day, insurance news providers report on insurance acquisitions. The big agencies are not only getting bigger, they seem to...
Global Warming Litigation Ruling in Favor of Insurers Vacated
Mar 19 2012 // What Does This Mean? As if times weren’t uncertain enough, the Virginia Supreme Court issued a ruling on Jan. 17, 2012, vacating its Sept. 16, 2011, opinion in Steadfast Insurance Co. v. The AES Corp. and granting a...
Auto Insurance Discount Initiative May be Gaining Bipartisan Endorsement
Mar 16 2012 // The backers of an automobile insurance persistency initiative are making steps to gain bi-partisan support for their proposition, which is slated for California’s Nov. 6 ballot and a possible showdown with what would...
Allianz Teams with Experts to Assess Climate Change Impact on Insurers
Mar 15 2012 // Europe’s largest insurer, Germany’s Allianz SE, posed the following question: “How does climate change affect the business model of a large insurance company?” In order to find the answers Allianz...
Catastrophe Frequency, Tornadoes Test Insurers in U.S.: A.M. Best
Mar 15 2012 // According to A.M. Best Co., the frequency of catastrophe weather events represents the “new normal” for the insurance industry. “The insurance industry continues to be tested as catastrophic weather...
Idaho House: Private Insurers Should Set Up Exchange
Mar 14 2012 // Idaho House members voted 49-13 to encourage private insurers to establish their own health insurance exchange, rather than having federal or state governments set one up as envisioned by the 2010 federal health care...
ABI Warns UK Homeowners of Subsidence Risks from Drought
Mar 14 2012 // The Association of British Insurers (ABI) is urging homeowners not to worry unnecessarily, but to be aware of the ongoing drought conditions currently afflicting the UK. The extremely dry weather, with little or no...
After Failure, MetLife Criticizes Federal Reserve Stress Test As Flawed for Insurers
Mar 13 2012 // Citigroup and MetLife led a list of financial institutions that failed the Federal Reserve’s latest round of stress testing Tuesday, a shock result for two companies that were widely expected to return billions of...
Tetrault Named Counsel for Insurer Group NAMIC’s State, Policy Affairs
Mar 13 2012 // The National Association of Mutual Insurance Companies (NAMIC) has named Paul Tetrault to the position of state and policy affairs counsel. Tetrault has served as Northeast state affairs manager for NAMIC for more than six...
Talbot, Abu Dhabi Insurer End Joint Venture; Continue Commitment
Mar 13 2012 // Talbot Underwriting, Ltd., a wholly owned subsidiary of Validus Holdings, and Abu Dhabi National Insurance Company (ADNIC), a prominent insurance company in the UAE, announced today that they are ceasing their Joint...
Florida’s Citizens Assessment Rate to Change Under New Law
Mar 12 2012 // Florida lawmakers have approved a bill that reduces the assessment rate of the state-run property insurer to give policyholders more time to retire deficits. The bill would also reduce the financial pressure on the...
Insurance Company Asks: Do Powell Siblings Get Money?
Mar 9 2012 // A life insurance company has asked a judge to decide whether any of Josh Powell’s relatives are entitled to collect on a $1.5 million policy after he killed himself and his two sons in a Washington house fire last...
