Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Agents’ Leader Grady Cites Progress, Disappointments on Reform
Jun 23 2011 // For those in the industry, Florida’s recent legislative session was a long march as they tried to navigate through a process that initially promised much in the form of a new governor and strong pro-business...
Insurers Offer $65.5M Settlement in Louisiana Housing Project Lead Claims Case
Jun 22 2011 // Insurance companies are offering $65.5 million to settle claims that lead in New Orleans’ housing projects hurt children who lived or visited there. Payments would go to people who spent time in the public housing...
Wash. Regulator Fines Insurers, Agents $750,000
Jun 22 2011 // Washington Insurance Commissioner Mike Kreidler has fined insurance companies, agents and brokers more than $750,000 in 2011. Violations included charging unapproved rates and submitting false documents. From January...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Europe Seeks to Get Insurers, Banks on Board Greek Bailout
Jun 22 2011 // European governments are trying to persuade banks and insurers to share the pain of a second Greek bailout package, in an attempt to avoid market meltdown while keeping taxpayers happy. Talks between governments and...
Former Association of California Insurance Companies President Joins Barger & Wolen
Jun 22 2011 // Samuel Sorich, the former president of the Association of California Insurance Companies (ACIC), a California property/casualty insurance trade association, has joined Barger & Wolen as of counsel. Sorich, who has been...
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...
