Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
UK Insurance Association: Solvency II May Help or Hinder EU Growth
Dec 9 2011 // Amidst all the turmoil in the euro zone, the implementation of the Solvency II regulations, governing the 27 members of the European Union, including the UK, grinds inexorably forward. It is a fact of life for British...
3 Small Insurers Placed into Receivership in Missouri
Dec 8 2011 // A Barton County, Mo., judge has placed a group of three small insurance companies into receivership, after claims from the Joplin tornado left the group insolvent, the Missouri Department of Insurance reported. Missouri...
70 Million Drivers Missing Out on Car Insurance Savings: Insurer
Dec 8 2011 // More than 70 million drivers in the U.S. potentially are leaving car insurance savings on the table by not taking advantage of usage-based insurance programs that reward drivers who drive safely and during safe times of...
Terrorism Risk Still a Concern in Insurer Ratings: S&P
Dec 7 2011 // Standard & Poor’s Ratings Services said it continues to view terrorism risk as a critical component in its assessment of an insurer’s financial strength, more than 10 years after the events of Sept. 11,...
P/C Insurers Lost 900 Jobs in October, Labor Department Data Shows
Dec 7 2011 // Property/casualty insurers lost 900 jobs overall in October, according to latest government data. But insurers in other segments did better. Life insurer employment was up by 1,400. Employment at medical expense insurers...
Florida Agents Concerned About Homeowners Choice Contract
Dec 7 2011 // Independent agents in Florida are concerned that an appointment contract offered by a Florida homeowners insurer that recently assumed thousands of policies from another company could result in a loss of those...
Latest Analysis Concludes Foreign Insurers Missing Out on China Party
Dec 7 2011 // Ten years ago, foreign insurers were lining up to celebrate China’s entry into the World Trade Organization, eager to tap what was certain to become the world’s next big insurance frontier. A decade on, it is...
Aon Benfield Monthly Cat Report: Thai, Europe Floods Costly for Insurers
Dec 7 2011 // Aon Benfield’s Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during November, concludes that insured losses in Thailand could top $10 billion, while floods in Europe will...
Florida’s Citizens Insurance Says Legislation Needed for Real Change
Dec 6 2011 // Florida’s largest homeowner insurer is offering a slate of coverage changes, but concedes that without legislative changes there will be little reduction in its exposure or policyholder count. Gov. Rick Scott last...
Minnesota Workers’ Comp Insurer Joins Big ‘I’ Trusted Choice Program
Dec 6 2011 // The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) announced that Minnesota-based workers’ compensation insurer, SFM, is the newest member of the Trusted Choice consumer...
Insurance Company Liquidation Paying $4.1 Million to Ohio Consumers
Dec 6 2011 // Ohio Lt. Governor and Department of Insurance Director Mary Taylor announced the successful completion of The Physicians’ Assurance Corp. (TPAC) liquidation proceeding. TPAC was ordered into liquidation on Aug. 18,...
Swiss Re sigma Report Highlights Progress in P/C Product Innovation
Dec 6 2011 // A new sigma report, “Product innovation in non-life insurance,” from Swiss Re underscores the conclusion that there’s “much more to innovation in non-life insurance than people think.” In...
Torus Acquires Renewals of C.V. Starr for Continental Europe; Interview with Int’l. CEO O’Donohoe
Dec 5 2011 // Torus announced that it has entered into an agreement with Starr Underwriting Agents Limited whereby Torus Syndicate 2243 acquires the renewal rights to CV Starr Syndicate 1919’s Continental European Marine,...
Haigood to Head Texas Fire and Casualty Insurer Association
Dec 5 2011 // Lyndell Haigood, regional vice president of State Auto Insurance Co., has been elected president of the Association of Fire and Casualty Companies in Texas (AFACT). Haigood was elected during AFACT’s annual meeting...
Sen. Schumer Says Flood Insurers Are Too Slow in Processing Claims
Dec 5 2011 // U.S. Senator Charles Schumer (D-N.Y.) is calling on flood insurance companies to speed up their processing of insurance claims from tropical storms Irene and Lee to ensure that FEMA aid reaches flood-damaged communities...
U.S. P/C Insurers’ Catastrophe Losses Top $38 Billion
Dec 5 2011 // Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best...
Insurers Bracing for Thai Flood Claims at More Than $10B
Dec 5 2011 // Insurers are bracing themselves for claims in excess of $10 billion after floods in Thailand disabled major foreign-owned manufacturing operations there, adding to an already record-breaking natural catastrophe bill this...
Insurer Pays in Florida Rental Car Crash
Dec 5 2011 // A rental car customer’s insurer must cover crash injuries, even though an unauthorized driver was behind the wheel. That’s what the Florida Supreme Court decided in a 5-2 opinion recently. The majority ruled in...
Insurers Finally Get Right to Jury Trial in New Jersey
Dec 5 2011 // Forty years ago the New Jersey Supreme Court in Rova Farms Resort, Inc. v. Investors Ins. Co. of America, 65 N.J. 474, 323 A.2d 495 (1974), recognized a cause of action against an insurance company in situations where the...
P/C Insurers’ Q3 Earnings Declined 70% From One Year Ago: Moody’s
Dec 5 2011 // Property/casualty insurance companies saw their income plummeting significantly in the latest earnings season. Moody’s Investors Service says a group of 23 publicly traded P/C insurers it rates had a whopping 70...
