Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Zurich Says Its Policy for Sony Doesn’t Cover Data Breach
Jul 22 2011 // One of Sony Corp.’s insurers has asked a court to declare that it does not have to pay to defend the media and electronics conglomerate from mounting legal claims related to a massive data breach earlier this...
Sony Insurer, Zurich, Files Suit to Deny Data Breach Coverage
Jul 21 2011 // One of Sony Corp’s insurers has asked a court to declare that it does not have to pay to defend the media and electronics conglomerate from mounting legal claims related to a massive data breach earlier this...
Doctor Liability Insurer MAG Mutual Names Wilson Chairman, CEO
Jul 21 2011 // Medical professional liability insurance company MAG Mutual Insurance Co. in Atlanta has named cardiologist Joseph S. Wilson Jr., M.D. as chairman and chief executive officer. Wilson moves from serving patients to serving...
Auto-Glass Installer Sentenced in $1.6 Million Insurance Fraud
Jul 21 2011 // A Burien, Wash., auto glass company owner has been sentenced to jail for a billing scheme that’s believed to have cost insurers more than $1.5 million, reports the state insurance commissioner. Michael Alan Perkins,...
Florida Weighs Sale of Top Medical Malpractice Insurer
Jul 21 2011 // One of Florida’s major medical malpractice insurers is seeking state approval to be sold to an out-of-state insurance group with the initial price tag expected to total $365 million. The Florida Office of Insurance...
Best May Cut Ratings Outlook on Life Insurers
Jul 19 2011 // Ratings agency A.M. Best may lower its outlook on the U.S. life insurance and annuity sector to “negative” from “stable,” it warned Tuesday, as American and European sovereign debt concerns continue...
West Virginia Extends Deadline for Insurer Bids on State Business
Jul 19 2011 // The deadline for insurers wanting to submit bids to write the workers’ compensation coverage for state agencies in West Virginia has been extended until October. West Virginia’s primary workers’...
New Jersey Approves First Captive Insurer
Jul 19 2011 // New Jersey has approved its first captive insurance company under the new law that became effective in May. The Department of Insurance issued a certificate of authority, effective July 1, to the Prudential Insurance Co....
S&P Threatens Downgrade of Insurers, Financial Firms Over Debt Ceiling
Jul 18 2011 // Standard & Poor’s Friday raised the pressure on debt negotiators in Washington, saying it could downgrade insurers, securities clearinghouses, mortgage agencies and a laundry list of other firms without a deal...
Post-Loss Assignments of Claims Under Insurance Policies
Jul 18 2011 // In the settlement of lawsuits involving insured claims, it is not uncommon that one condition of the settlement is that the defendant assign his or her claims under all applicable insurance policies to the party that filed...
Hawaii Regulator Orders Homeowners Insurers to File New Rates
Jul 18 2011 // Hawaii Insurance Commissioner Gordon I. Ito has ordered all homeowner insurers to submit new rate filings after a Insurance Division review found that rates were “excessive” when compared to National...
As Small Business Shrinks, Small P/C Insurers Lose
Jul 18 2011 // The property/casualty small business sector – those accounts with less than 50 employees – has shrunk substantially since 2007, and there has been a dramatic shift in market share among small, mid-sized and...
Agency Satisfaction With Insurers Not Driven by Price, Compensation
Jul 18 2011 // Insurance agents tend to give a greater share of their business to insurers with whom they are highly satisfied, according to a J.D. Power and Associates Insurance Agency Satisfaction Study-Personal Lines. The study, based...
S&P Threatens Downgrades of Finance Companies; ‘AAA’ Rated Insurers
Jul 15 2011 // Standard & Poor’s Friday put a broad range of financial firms on negative credit watch, warning they could all be downgraded if the United States has its credit rating cut. The S&P action takes in Fannie Mae,...
What Does Insurance Industry Contribute to California’s Economy?
Jul 15 2011 // The overall insurance industry accounts for more than 234,000 jobs in California with a payroll of $16.8 billion, a new report finds. Also, property/casualty insurers paid a total of $50.2 billion in claims and expenses in...
Insurers Seek Separation from Banks for Systemic Risk Regulation
Jul 14 2011 // U.S. insurance company trade groups have sent a letter to President Obama requesting his assistance with G20 leaders in efforts to de-link insurers from the timelines for identification of globally systemically important...
UK’s ABI Launches Insurance Fraud Database
Jul 13 2011 // The Association of British Insurers has underlined its members’ determination to actively pursue the fraudsters and cheaters who cost the UK’s insurers £2 billion [$3.22 billion] a year in fraudulent claims,...
Insurer Wants to Sign 100 Agents in 100 Days
Jul 13 2011 // A commercial lines insurer is on a mission to sign a number of independent agents— as many as 100 of them —within the next 100 days. From July 12 through October 12, South Carolina-based Accident Insurance Co. (AIC)...
House Approves Flood Insurance Program Renewal, Reforms
Jul 13 2011 // The House of Representatives has approved a bipartisan bill to reauthorize the federal flood insurance program for five years and change some of its practices to improve its financial operations. The measure to renew and...
Texas Enforcements for May Include Nearly $218K in Fines, Restitution
Jul 12 2011 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during May 2011 include six license revocations, two license denials and fines and restitution totaling $217,756. An order imposing...
