Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Wall Street Protesters Target Health Insurers
Oct 28 2011 // Occupy Wall Street protesters held a speak-out and march in New York City targeting the health insurance industry. Several hundred protesters marched on Wednesday, Oct. 26, to the offices at Empire Blue Cross/Blue Shield,...
West Virginia Insurers Pay More for Deer-Related Auto Accidents
Oct 27 2011 // West Virginia auto insurers are paying more for deer-related accident claims despite the fact that fewer drivers are involved in deer-related crashes. The West Virginia Department of Insurance has released its 2010 study...
ABI Assures UK Flood Victims Insurers Ready to Help
Oct 27 2011 // The Association of British Insurers (ABI) has issued a bulletin advising “anyone who has suffered flood damage as a result of the heavy rain that has so far hit Northern Ireland, Wales and south-west England to...
Munich Re: ‘Uncertainty,’ Economic Crisis, Challenge Re/insurers
Oct 25 2011 // A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the...
Citing Reform, Small Health Insurer Lays off Workers in Iowa, Nebraska
Oct 24 2011 // The parent company of American Republic has told employees in Des Moines, Iowa, and Omaha, Neb., it is getting out of the individual major medical insurance business. The Des Moines Register reported 110 positions will be...
Home Insurance Rates Do Not Reflect Cost of Risk: Aon Benfield
Oct 24 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...
Weak Markets to Hobble Canadian Insurer Results
Oct 24 2011 // Canadian insurers are looking at a bleak quarter of financial results due to a sharp drop in stock markets and bond yields, and analysts are staying cautious on the stocks even at rock-bottom valuations. Sun Life Financial...
Best’s Managing Director-Europe: Solvency II is Coming to an Insurer near You
Oct 24 2011 // Stefan Holzberger, A.M. Best’s managing director-analytics, recently moved to London from the U.S. He is well placed to analyze the impact of the European Union’s Solvency II regulations, not only on the...
Alfa Insurance Ties Homeowners Coverage to Auto in Alabama
Oct 21 2011 // Alabama residents who have their homeowners insurance through the state’s second largest property insurer must now include their auto coverage as part of their insurance package. Alfa Insurance Co. announced it will...
Accounting Rules to Hurt Insurers’ Ratios But Not Ratings: Moody’s
Oct 20 2011 // New accounting rules intended to align U.S. insurers’ varied approaches to accounting for deferred acquisition costs (DAC) will negatively affect insurers’ reported equity and some of the financial metrics that...
Lloyd’s Insurer Omega Backs Haverford Offer
Oct 20 2011 // Insurance entrepreneur Mark Byrne pulled ahead in the race to buy Lloyd’s of London insurer Omega after Omega and its top shareholder backed his offer, prompting his main rival to withdraw. Omega, at the centre of a...
Florida Hurricane Fund Has $3.2 Billion Shortfall
Oct 20 2011 // Florida’s hurricane fund is confronting a potential $3.2 billion shortfall, financial experts said in a new estimate of the money available to the pool intended to help insurers make disaster payments. The fund was...
Florida Approves Insurer Targeting Foreign Nationals
Oct 18 2011 // Florida regulators have given the go-ahead for an insurer that wants to provide foreign nationals with access to the U.S. health insurance market. Insurance Commissioner Kevin McCarty announced that Best Doctors Limited...
Tennessee Caps Medical Malpractice Damages
Oct 17 2011 // Insurers in Tennessee will payout fewer damages in medical malpractice cases after a new cap on damages took effect earlier this month. The new law also states insurers may no longer be sued under the state’s...
Bermuda Re/Insurers Announce Q3 Cat Loss Estimates
Oct 17 2011 // A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries,...
Medical Liability Insurers in Good Financial Health, Report Says
Oct 17 2011 // Medical professional liability insurance (MPLI) carriers are in a strong financial position overall and the insurers are exhibiting rate discipline in soft market conditions, according to a report by A.M. Best. The past...
Predictive Analytics Being Used to Manage Agencies, Curb Fraud
Oct 17 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...
D.C. Metro Sues Insurer Lexington Over Lost Revenue
Oct 17 2011 // Washington Metropolitan Area Transit Authority recently filed a lawsuit against its insurer Lexington Insurance Co. of Boston charging that that the insurer failed to indemnify for the revenue losses in the train...
Auto Insurers’ Loss Ratios Rise in Q2 2011
Oct 17 2011 // Tornadoes and thunderstorms in the South and Midwest made the 2011 second quarter tumultuous for U.S. property writers. The industry loss ratio, before consideration of reinsurance, climbed to 70.6 percent, marking the...
More Optimism, but Plenty of Controversy Surrounds Mortgage Broker Errors and Omissions Market Segment
Oct 17 2011 // Insurance agents serving the mortgage broker marketplace see some signs of improvement but they aren’t yet jumping for joy. The mortgage brokers error and omissions (E&O) market became severely strained when the...
