Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Houston Jury Finds for Insurer in $22M Hail Damage Lawsuit
Jun 15 2011 // A jury in Houston, Texas, has found in favor of a property insurer in a lawsuit brought by a townhouse homeowners association over roof hail damage to 22 buildings. Summer Hill Village Community Association sued Colony...
Court Approves $33 Million Settlement for Ambac, Insurers, Banks
Jun 15 2011 // A judge granted preliminary approval for Ambac Financial Group Inc., insurers and some banks to pay $33 million to investors to settle litigation accusing the bond insurer of hiding the risks it took on by guaranteeing...
Hacking Blitz Drives Cyberinsurance Demand
Jun 15 2011 // The recent string of sensational hacker attacks is driving companies to seek “cyberinsurance” worth hundreds of millions of dollars, even though many policies can still leave them exposed to claims. Companies...
Best Affirms Hanover Insurance Group and Subs Ratings
Jun 14 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of The Hanover Insurance Group Property and Casualty Companies and its members....
Vietnam Insurance Market Readies for Foreign Insurers, New Regulations
Jun 14 2011 // The Vietnamese insurance industry is expected to experience significant change within the coming years as it continues to open up to foreign insurers, and the country’s regulatory framework evolves. Vietnam’s...
Keystone Insurers Group Welcomes Indiana’s McGowan Insurance
Jun 13 2011 // McGowan Insurance Group Inc. of Indianapolis has become Keystone Insurers Group’s 27th franchise partner in Indiana, the companies announced. Led by Hugh M. McGowan, the McGowan Insurance has roots dating back to the...
Insurers Meet in Canada on United Nations Sustainability Principles
Jun 13 2011 // Canada is this week hosting the third of seven United Nations conferences to develop a set of sustainability principles for the insurance industry. Insurance industry CEOs and other senior executives from Bermuda, Canada...
P/C Insurance Industry Wins, Loses in Scott’s First Session
Jun 10 2011 // It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play for the last 72 hours. No matter how many committee meetings, no matter how many press conferences, no matter...
Best Upgrades State Farm General Insurance Co.’s Ratings
Jun 9 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of State Farm General...
Two More Massachusetts Motorcycle Insurers Send Settlement Checks
Jun 8 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...
Missouri: 17,000 Insurance Claims Filed So Far From Joplin Tornado
Jun 8 2011 // The major insurance companies serving consumers in the Joplin area have received nearly 17,000 claims so far from residents and business owners with damage from the EF-5 tornado that struck the area on May 22, insurance...
Insurer Seeks to Void Policy for Jackson Shows
Jun 7 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...
Insurance Companies to Pay $50K Penalty to Iowa
Jun 7 2011 // Allied Property and Casualty Insurance and six affiliated companies have agreed to pay a $50,000 penalty to the state of Iowa for overcharging on more than 1,700 Iowa auto insurance policies. The Gazette said that coding...
LexisNexis Insurance Exchange Now Available Industry-Wide
Jun 7 2011 // The LexisNexis Insurance Exchange, a system that promises to improve how property/casualty agents, brokers and carriers collaborate on commercial lines accounts, is becoming available industry-wide. The system simplifies...
