Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Regulators Publish Surplus Lines ‘Alien’ Insurer Eligibility List
Nov 7 2011 // The National Association of Insurance Commissioners (NAIC) posted its Quarterly Listing of Alien Insurers, available for reference and download. The listing, also mentioned in the Nonadmitted Insurance title of the...
Insurers, Policyholders Clash Over Business Interruption Claims
Nov 7 2011 // Over the years, insurance companies and policyholders have been arguing in courts over how to calculate business interruption losses during catastrophes. This is the type of coverage that is often ignored until there is a...
The Demotech Company Classification System Reveals State Specialist Property/Casualty Insurers
Nov 7 2011 // Company Name State of Speciality 2010 TOTAL DPW Texas Mutual Insurance Co. TX 596,191 Old American County Mutual Fire Insurance Co. TX 575,100 SAIF Corporation OR 327,373 St. Johns Insurance Co. Inc. FL 257,106 Brickstreet...
Home Insurance Rates Do Not Reflect Cost of Risk: Aon Benfield
Nov 7 2011 // U.S. insurers’ prospective after-tax return on equity for homeowners’ insurance is 4.8 percent on average, a decrease from the 6.9 percent of 2010, mainly due to subdued investment returns and higher estimates...
Insurers, Policyholders Clash Over Business Interruption Claims
Nov 7 2011 // Over the years, insurers and policyholders have been arguing in courts over how to calculate business interruption losses during catastrophes. This is the type of coverage that is often ignored until there is a loss. But...
2011 Agency E&O Survey
Nov 7 2011 // Agency owners have a lot to protect. Of course, first and foremost they must protect their clients. But they must also protect their book of business. They must protect their relationships. They must protect their...
Auto Insurers Keep Eye on Cross-Border Claims with Canada
Nov 7 2011 // Staged automobile accidents in Canada’s most populated province of Ontario pose a unique problem for American auto insurers that must deal with Ontario’s stringent no-fault benefits. Some U.S.-based adjusters...
Insurer Sues Manufacturer Over Collapsed Pool at South Dakota Aquatic Center
Nov 7 2011 // An insurance company is suing the maker of a portable pool to try to recoup money paid out as a result of a collapsed pool at the Mitchell Aquatic Center in Mitchell, S.D. Nautilus Insurance Co. filed an amended lawsuit...
Predictive Analytics Being Used to Manage Agencies, Curb Fraud
Nov 7 2011 // Earlier this year, experts at WallStreet & Technology (wallstreetandtech.com) identified predictive analytics and cloud computing as two of six hot technologies that will transform the insurance industry in 2011 and...
How to Optimize the Value of Inspections
Nov 7 2011 // Insurance carriers spend approximately $190 million a year on inspection programs, yet 75 percent of inspections done today offer no immediate value to loss experience or a carrier’s bottom line, according to a...
Pennsylvania Agency Owners Indicted for Fraud
Nov 4 2011 // Penn. Agency Owners Indicted Insurance agency owners from Pennsylvania were indicted this week with 13 counts of wire fraud, mail fraud and conspiracy to commit wire and mail fraud. Bruce and Irene Gardner, of Richboro,...
Insurers Eye Increased Risk of Public Entities in Era of Cutbacks
Nov 4 2011 // The climate of government cutbacks is forcing public entities to reduce expenditures while trying not to greatly increase their risk or jeopardize their immunity from lawsuits. Prison overcrowding is one particularly...
Florida’s Scott Wants Recommendations from Citizens by Dec. 6
Nov 3 2011 // Gov. Rick Scott wants the state-backed Citizens Property Insurance Corp. to recommend ways to shore up the troubled insurer. Scott, who would prefer the insurer be sold to a private company, wants answers from the...
Study: Rating Errors Cause $15B Decrease in Revenue for Auto Insurers
Nov 2 2011 // Auto insurance companies are missing out on more than $15 billion of revenue because of policyholder misinformation, according to a new study of premium rating errors. Quality Planning, a member of the Verisk Insurance...
Montana Court Rules Insurer Doesn’t Have to Pay in Dragging Death Case
Nov 2 2011 // The Montana Supreme Court has ruled that the family of a man who was run over and dragged by a cement truck is not covered under the vehicle’s insurance policy because he did not technically “occupy” the...
Best Affirms Mercury General and Operating Subs Ratings; Outlook Stable
Nov 2 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of L.A.–based Mercury Casualty Group and its members. Best also affirmed...
Wisconsin Appeals Court Favors Media vs. Juneau County, Insurer
Nov 1 2011 // A Wisconsin appeals court has ruled in favor of a Juneau County newspaper that requested documents from the county but received paperwork with most information blacked out. The Juneau County Star-Times had requested...
Early Northeast Snowstorm Deals Insurers Another Blow
Nov 1 2011 // The U.S. insurance industry, already bruised by one of the most devastating weather years in history, appears to have suffered another blow from Saturday’s unprecedented northeastern snowstorm. Early data from some...
Insurer Sues Manufacturer Over South Dakota Collapsed Pool Claims
Oct 31 2011 // An insurance company is suing the maker of a portable pool to try to recoup money paid out as a result of a collapsed pool at the Mitchell Aquatic Center in Mitchell, S.D. The Mitchell Daily Republic reports Nautilus...
Insurer Trade Group Urges Florida to Curb Auto Insurance ‘Fraud Tax’
Oct 28 2011 // Florida should allow more time for looking into suspicious claims, place a cap on attorneys’ fees and more closely regulate medical clinics to help reduce rampant fraud in the state’s personal injury protection...
