Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Ground Shifting for Medical Liability Insurers: Moody’s
Jan 3 2012 // Although it comprises just over two percent of annual direct premiums for the U.S. property and casualty insurance industry, the medical professional liability (MPL) insurance business is integral to the U.S. healthcare...
Despite Losses, Insurers Not Hiking Prices Broadly
Dec 29 2011 // Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those...
North Carolina Farm Bureau Weighs Cutback in Homeowners Policies
Dec 29 2011 // One of North Carolina’s largest homeowners’ insurers says it is considering canceling the coverage of up to 70,000 homeowners unless the state Legislature makes changes allowing it to charge higher rates. North...
Penn. Senator Asks Flood Insurers to Quickly Process Remaining Claims
Dec 29 2011 // U.S. Senator Bob Casey (D-Penn.) is asking flood insurance companies to quickly process remaining claims from Irene and Lee. He says some 25 percent of the claims in Pennsylvania are still not...
ACE Acquires Ecuador General Insurer Rio Guayas
Dec 29 2011 // The ACE Group announced that it has acquired Rio Guayas Compania de Seguros y Reaseguros, a general insurance company in Ecuador that is owned by Banco de Guayaquil, for approximately US$55 million in cash. The insurer was...
Insurers Worry 2012 Will Top 2011 for Record Weather Disasters
Dec 28 2011 // From floods that crippled countries, to mega cyclones, huge blizzards, killer tornadoes to famine-inducing droughts, 2011 has been another record-breaker for bad weather. While it is too early to predict what 2012 will be...
Insurers Divided Over North Carolina Auto Insurance System
Dec 27 2011 // Is it more important to keep overall car insurance premiums low, or to make sure everyone’s paying what they deserve? North Carolina legislators once again examining the unique rate-setting system for the...
BNY Mellon Settles N.Y. Probe Involving Insurer’s Debt Security Sale
Dec 27 2011 // The Bank of New York Mellon Corp. will pay $1.3 million to three states to settle an investigation into manipulative trading of auction rate securities facilitated by employees at one of the company’s subsidiaries,...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
Insurer for Sandusky Charity in Pennsylvania Argues Over Payouts
Dec 27 2011 // An insurance company for a charity founded by Jerry Sandusky argued in a federal complaint last Friday that it should not have to pay legal expenses or claims for the former Penn State assistant football coach now accused...
Best Affirms Wind River Re, U.S. Subs Ratings; Outlook Stable
Dec 27 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S. subsidiaries....
Mississippi Court Overturns Insurer’s Win in Katrina Wind vs. Water Case
Dec 26 2011 // The Mississippi Supreme Court has overturned a judgment for an insurance company in a wind vs. water case involving a Pascagoula home hit by 6.3 feet of storm surge during Hurricane Katrina in 2005. The National Flood...
Consumer Group Hammers Mercury Rate Increase Filing in California
Dec 22 2011 // A California consumer group is challenging a rate hike bid by Mercury Insurance because the group claims the company is trying to pass along the costs of its political campaigning. But the insurer says those costs are not...
E-Trade, Insurers to Settle Mortgage Class Action Lawsuit for $79M
Dec 22 2011 // E-Trade Financial and its insurers have agreed in principle to pay $79 million to settle class action lawsuits brought against the online brokerage as a result of losses in its mortgage and home equity loans portfolio in...
Best Affirms Ratings of Beazley Insurance Company, Inc.
Dec 22 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Beazley Insurance Company, Inc. (BICI), which is based in Farmington, Conn. The outlook...
Best Affirms NIPPONKOA Insurance Company (Asia) Limited’s Ratings
Dec 22 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Hong Kong-based NIPPONKOA Insurance Company (Asia) Limited, both with stable...
Jones Clears Way for California’s ‘Principally At-Fault’ Regulations
Dec 21 2011 // California Insurance Commissioner Dave Jones on Wednesday announced the final approval of amended regulations that simplify the requirements for determining whether a driver is principally at-fault (PAF) for an accident,...
Report: Recent Advances in Casualty Catastrophe Models Help Insurers
Dec 21 2011 // A new report says recent advances in casualty catastrophe modeling can help insurers to understand potential exposures to mass torts. The report, released this month, is titled “The Need for Casualty Catastrophe...
For Florida Gov. Scott, Insurance Fixes Are Legislative Priority
Dec 21 2011 // Gov. Rick Scott wants lawmakers to fix a pair of auto and property insurance issues that are costing Floridians hundreds of millions of dollars but have eluded resolution for more than a decade. The issue facing the...
Insurers May Open ‘Black Box’ Telematics to Escape Gender Ban
Dec 21 2011 // Motor [auto] insurers seeking to get around a European ban on charging male drivers more than women are turning to innovative black box technology that could trigger an upheaval in the way car insurance is...