Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Officials, Insurers Begin Tallying Damages from Deadly Storm
Apr 29 2011 // Officials in Southeast states hammered by a storm that killed at least 300 people have begun the task of evaluating the damage. Alabama appears to have suffered the brunt of the storm, where Tornadoes struck particularly...
Florida Insurer Closing its Doors
Apr 29 2011 // A Florida insurance company is on its way to closing its door as it informed agents it is going to start dropping policyholders when their policies are up for renewal. Argus Fire & Casualty, a subsidiary of the Miami...
Best Affirms AEGON USA Group’s Ratings
Apr 28 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the life/health subsidiaries of Netherlands-based AEGON N.V.’s...
Major Florida PIP Reform Effort Dies in Committee
Apr 27 2011 // The industry’s push for comprehensive reforms to Florida’s no-fault personal injury protection (PIP) insurance law came to an abrupt end in Florida after a House committee by a single vote margin rejected a...
Strate Insurance Becomes Keystone Insurer Partner in Tennessee
Apr 27 2011 // Strate Insurance Group Inc. of Morristown has become Keystone Insurers Group’s sixth franchise partner in Tennessee. Strate Insurance Group President Tom Strate and Keystone Tennessee Vice President Doug Dukes...
Five Japan Life Insurers Eye Unhedged Foreign Bonds; See Weaker Yen
Apr 27 2011 // Five Japanese life insurers say they may buy more unhedged foreign bonds, believing that the yen is likely to weaken and that the currency risks are low enough for them not to take on higher hedging costs, a stance that...
Health Insurers’ Claims Cost Continues to Rise
Apr 26 2011 // The cost of claims in employer-sponsored health plans continues to increase, although the rate is slightly lower than six months ago. A new trend survey by Wells Fargo Insurance Services projects that overall claim cost...
Insurers Receive Hundreds of Tornado Claims in Virginia
Apr 25 2011 // Property owners in Virginia have submitted hundreds of claims to insurers for damage caused by recent tornadoes. The Virginian-Pilot reports that State Farm Mutual Automobile Insurance Co. received about 400 claims by...
Northeast Insurers Say Winter Storms Hurt Q1 Profits
Apr 22 2011 // Pennsylvania-based insurer Harleysville said severe winter storms over the last few months will hurt its first quarter profits. “We experienced unusually severe winter weather throughout much of the Mid-Atlantic and...
