Carriers - Latest Insurance News

London’s Marine Insurers Say Libya to Stay on ‘High Risk’ List

Aug 22 2011 // There is no immediate prospect of Libya being removed from a list of areas deemed high risk by London’s marine insurance market. Underwriters will seek a stable period before looking at de-listing, a market official...

CEO of Arkansas-based Heifer Foundation Sues Board Members, Insurer

Aug 19 2011 // The chief executive of the foundation that supports the hunger-relief organization Heifer International has sued four foundation board members, alleging that he was suspended in retaliation for raising questions about...

AIR Chief on Cat Models: ‘What’s All The Fuss About?’

Aug 19 2011 // When it comes to revised hurricane models, AIR Worldwide CEO Ming Lee has one basic question, “What really is all this big fuss about?” Lee, whose Boston company launched the catastrophe modeling industry in...

Chinese Insurer Ping An Posts 33% Rise in 1st Half Profits

Aug 19 2011 // Ping An Insurance Co. of China Ltd. said Thursday its fast-growing banking business helped to boost profit for the first half by nearly 33 percent. Profit for the six months ending June 30 was 12.8 billion yuan ($1.9...

Group of Allstate Agents Votes to Unionize

Aug 18 2011 // A group of Allstate agents who say the insurer controls them like employees rather than as independent contractors voted to affiliate with a union — a move the agents hope will help dissolve some of their concerns...

Insurer’s New Predictive Model Targets High Cost Workers’ Comp Claims

Aug 18 2011 // Workers’ compensation giant Liberty Mutual has developed a new predictive model that lets it more quickly identify and manage high cost workers’ compensation claims that typically make up about 20 percent of...

Travel Insurers Pay $7 Million a Week to Stricken UK Travelers Says ABI

Aug 18 2011 // Travel insurance has become an essential adjunct for UK residents heading abroad on vacations. According to the Association of British Insurers, travel insurance companies pay on average £5.3 million [$7.26 million a week...

The Truth About Why Independent Agents Love Regional Companies

Aug 17 2011 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....

Oregon Insurance Company Aids Disabled Veterans

Aug 16 2011 // A team of 12 U.S. service members who were severely injured in the conflicts in Iraq and Afghanistan will compete in Oregon’s iconic 2011 Hood to Coast Relay race. “Team Warfighter Sports” is the only...

Internet Truckstop Adds Carrier Registration Service

Aug 16 2011 // Internet Truckstop, an Internet-based freight matching service in the transportation industry, has added an enhancement to the truckstop.com in its Carrier Registration Service (CRS) and CRS PLUS. CRS allows a company to...

Washington Insurance Commissioner Fines Health Insurer

Aug 16 2011 // Wshington State Insurance Commissioner Mike Kreidler has fined Regence BlueShield (Regence) $100,000 for denying contraceptive coverage to 984 women. Kreidler learned about the violation from a consumer who contacted his...

Big Insurers May Escape Capital Surcharges Under Global Regulations

Aug 16 2011 // New rules to ensure no insurance company is too big to fail are set to be drawn up in time for the 2012 meeting of G20 leaders, although unlike banks they may not include capital surcharges, according to industry...

3 Insurers Bid for West Virginia’s Workers’ Compensation Business

Aug 15 2011 // Three companies are vying to provide workers’ compensation coverage for state agencies. Acting Insurance Commissioner Michael Riley said that that BrickStreet Mutual Insurance Co., Chartis, and Zurich Insurance Co....

Michigan Man Loses Bid to Have Insurer Pay for Stem Cell Surgery

Aug 15 2011 // A motorcycle wreck turned a Lenawee County man into a paraplegic. Desperate for any relief, he chose stem-cell surgery in Europe, a procedure that may have improved his health but left him with a $51,000 bill. Now, after...