Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Texas Continues Crack Down on Late Surplus Line Filings
May 4 2011 // Among the enforcement actions for March 2011 announced by the Texas Department of Insurance are a number of fines imposed on surplus lines wholesalers for failing to report surplus line premium in a timely...
Damage Estimated in Billions as Insurers Work to Pay Claims
May 4 2011 // Officials, insurers and residents are starting the daunting task of assessing and cleaning up the damage from the massive storm system that hit the Southeast as the amount of insured losses is heading into the billions of...
Insurer Settles Suit With Former Utah Frat Members
May 3 2011 // A Georgia insurance company that paid a wrongful death claim on behalf of a former Utah State University fraternity has settled the lawsuit it brought against four of the fraternity’s members. The Herald Journal of...
Florida Legislature Approves Commercial Rate Deregulation Bill
May 3 2011 // Commercial insurers in Florida will have more leeway in setting rates on a number of lines of insurance under a bill approved today by state lawmakers. The Florida legislature approved CS/HB 99 that expands the list of...
Kansas Passes No Pay/No Play Bill; Insurer Group Urges Governor to Sign
May 3 2011 // The Kansas Legislature has now passed legislation, Senate Bill 136, designed to encourage more drivers to purchase auto insurance as required by law and reduce the number of uninsured motorists on the road, according to...
Best Affirms Harleysville Group and Subs Ratings
May 2 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Harleysville Insurance and its property/casualty pooling members,...
S&P: No. Am, Bermuda Insurers Enhancing Enterprise Risk Management Efforts
May 2 2011 // In an article published on its web site Standard & Poor’s Ratings Services said it has outlined its “updated enterprise risk management (ERM) opinions for all of its rated North American and Bermudan...
Pending State Legislation to Implement NRRA Is Fly in the Ointment
May 2 2011 // Pending state legislative proposals, such as California’s AB 315, that would implement the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) are akin to the fly in the ointment. The NRRA becomes effective on July...
How to Find Cyber Insurance for the Uninsurable
May 2 2011 // The University of California (UC) has redefined the rules of cyber liability insurance, using an approach that the university’s Chief Risk Officer Grace Crickette calls “reverse underwriting.”...
People
May 2 2011 // Marsh & McLennan announced several changes to its senior management team, including the appointment of Daniel S. Glaser, 50, to the newly created position of group president and chief operating officer. Glaser had...
Florida Insolvent Insurer Owners Hit with $76 Million Verdict
May 2 2011 // The former owners of Aries Insurance Co. are on the hook for millions after a Miami-Dade District Court found them guilty of diverting funds for personal use. Florida CFO Jeff Atwater said that a Miami-Dade Circuit Court...
E&O Insights: Exposures to Watch for When Insuring the Local Neighborhood Tavern Risk
May 2 2011 // While many towns might not have a hardware store or a dry cleaner, chances are there is a neighborhood tavern. It is estimated there are more than 50,000 bars in the United States. In fact, many of these taverns have been...
3 Ways Boat Insurance Can Help an Agency Increase Sales
May 2 2011 // Over the past few months, the boat industry has shown signs of life. Boat show attendance has been steadily rising, and a major boat manufacturing executive recently declared, “The worst is over.” Now could be...
Calif. Commissioner Seeks Stricter Penalty Powers
May 2 2011 // California Sen. Noreen Evans, D-District 2, has introduced legislation to grant explicit authority to the state Insurance Commissioner to order restitution as part of an administrative enforcement action against an...
Direct Premiums Written Drop for Top 50 Workers’ Comp Insurers
May 2 2011 // As of March 2011, the unemployment rate in the United States was reported to be 8.8 percent, a marked improvement from the 10.1 percent rate reported in October 2009. The gross domestic product (GDP) has increased for six...
Top 10 U.S. Excess/Surplus Insurers
May 2 2011 // The top 10 U.S. excess and surplus lines carriers of 2010 based on direct premiums written for the 12 months ended Dec. 31, 2010, according to SNL Financial include: American International Group Zurich Financial Services...
Japan Quake Reveals Cracks in Insurance System
May 2 2011 // Michael Korn, managing principal at Integro Insurance Brokers, is a popular person these days, which is perhaps not too surprising considering he is an insurance broker in earthquake-prone San Francisco. “We’re...
North Carolina In Auto Rate Deregulation Battle
May 2 2011 // Auto insurers are looking to change the way rates are set in North Carolina but that’s not going to happen if Insurance Commissioner Wayne Goodwin has his way. There are several bills pending in the state Legislature...
100 Years of Relationships
May 2 2011 // Fourth Generation Family Owned Moreton & Co. Honors Traditional Values Top 100 Agency Profile Rank: No. 18* Agency Name: Moreton & Co. Main Office: Salt Lake City, Utah Additional Locations: Sandy, Utah; Boise,...
The Future of the Independent Agency (Has Nothing to Do with Age)
Apr 29 2011 // For the last 20 years, at least, consultants, associations and publications have been worrying about the future of the independent agency system because the average age of agency owners has been in the late 50s. The same...
