Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Best Affirms Argo Group International and Subs Ratings
Jun 21 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Argo Re Ltd. and its subsidiaries. Best also affirmed the...
Travelers Acquires Interest in Brazilian Surety Insurer JMalucelli
Jun 21 2011 // The Travelers Companies announced that the company has completed its acquisition of a 43 percent interest in JMalucelli Participações em Seguros e Resseguros S.A., the market leader in the surety insurance business in...
Mobile Food Vendor Market Explodes as Insurance Market Evolves
Jun 21 2011 // In just about every metropolitan area nationwide hungry customers can appease their appetites by visiting the neighborhood taco truck. The traditional taco truck sells more than just tacos these days – a lot more....
Survey: Insurers Say Mergers Yield Stronger Competitive Position
Jun 20 2011 // More than 60 percent of insurers say that their most recent merger accomplished the desired objective of competitive position strengthening— double the success rate reported by non-insurers involved in mergers. While...
Settlement Leads Massachusetts Insurers to Issue Refunds to Motorcyclists
Jun 20 2011 // Insurers USAA and NGM Insurance Co. will return a combined $3.4 million to Massachusetts motorcycle policyholders as part of a settlement with state officials. Attorney General Martha Coakley said that 9,500 checks have...
Calif. State Fund Seeks to Offer Workers’ Comp in Other States
Jun 20 2011 // California State Compensation Insurance Fund is pursuing legislation to allow it to offer coverage to California employers who have out-of-state employees. Currently, California-based businesses insured with State Fund...
Insurer Seeks to Void Policy for Jackson Shows
Jun 20 2011 // The insurer of Michael Jackson’s planned series of comeback concerts is asking a Los Angeles judge to nullify a non-appearance policy issued to concert promoters. Underwriters at Lloyd’s of London sued AEG Live...
Actuaries Learn About Florida Property Insurance Challenges
Jun 20 2011 // Exposed to devastating hurricanes and a surprising influx of sinkholes, Florida may have the most challenging market for homeowners insurance in the nation, panelists told members of the Casualty Actuarial Society Spring...
Insurers Must Cover Flood Re-Located Property in South Dakota
Jun 20 2011 // Insurers must provide full coverage for personal property that’s been moved because of the threat of flooding on the Missouri River, South Dakota insurance regulators have determined. Insurance Director Merle...
As Small Business Shrinks, Small P/C Insurers Lose
Jun 20 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...
Environmental Insurance Market Broadens to Meet Growing Needs of Today’s Contractors
Jun 20 2011 // The insurance needs of contractors continue to become more complex as the economy works its way out of the recession. Part of that increased complexity involves a company’s environmental exposures and how it chooses...
Brokers See No Change in Sight for Apartment Market
Jun 20 2011 // Rates Remain Competitive Despite Fewer Carriers, More Catastrophe Losses For apartment owners, the insurance market remains as competitive as it gets. Despite the sometimes heavy exposures that encompass the habitational...
Surplus Lines Sea Change: Calif.’s AB 315
Jun 17 2011 // California is expected to pass surplus lines regulations before July 21, 2011. On that date, the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) becomes effective, and only the “insured’s home...
Homeowners Insurance Assessments Haunt Florida’s Citizens, Officials
Jun 17 2011 // Two weeks into a new hurricane season, Florida officials are continuing to express their concerns over possible policyholder assessments by Citizens Property Insurance despite the relative financial strength of the...
Another Insurer, State Farm, Reports Major Spring Storm Losses
Jun 17 2011 // State Farm claim representatives said it has paid nearly $1.75 billion to its customers from the destructive storms of April and May. The total claim payments have nearly doubled in less than three weeks. Earlier this...
Best Affirms ProAssurance and Members Ratings; Revises ICR to Positive
Jun 16 2011 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the issuer credit ratings (ICR) of “a” of ProAssurance Group and its members. Best has also affirmed the financial strength rating...
Nearly 10% of Health Insurers Leaving Indiana; State Seeks MLR Waiver
Jun 16 2011 // Indiana Insurance Commissioner Stephen W. Robertson has announced he is seeking a waiver on behalf of Indiana from the federal Patient Protection and Affordable Care Act’s (ACA) 80 percent minimum medical loss ratio...
Best Affirms Lufthansa Captive Insurer Delvag’s Ratings
Jun 16 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Germany’s Delvag Luftfahrtversicherungs-AG...
Bill to Update Small Insurers’ Tax Option Introduced in House
Jun 16 2011 // Legislation has been introduced in the U.S. House of Representatives to adjust the tax code for about 600 small property/casualty insurance companies. The change will increase access to insurance for rural communities and...
Michigan Insurer Questions FBI Story About Wrecked Ferrari
Jun 15 2011 // A Michigan insurance company suing to force the federal government to pay $750,000 for wrecking a rare Ferrari in Kentucky questioned whether it was simply an accident. Motors Insurance said its investigation showed the...
