Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida Jury Hits Insolvent Insurer’s Owners with $76 Million Verdict
Apr 21 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...
New York Increases Requirements for Excess Line Insurers
Apr 21 2011 // A new regulation that goes into effect in New York this month will force excess line insurers to triple their minimum policyholders surplus to $45 million by the middle of 2013. For eligible excess line insurers already in...
The Hanover to Pay $510M for UK Insurer Chaucer
Apr 20 2011 // A half-billion dollar deal that would make Lloyd’s insurer Chaucer part of Massachusetts-based The Hanover appears all but done. Terms of the transaction, announced this morning, involve a cash-for-stock swap valued...
Calif. Workers’ Comp Insurers’ Net Worth Declining
Apr 20 2011 // California workers’ compensation insurer returns continue to dwindle, with recent National Association of Insurance Commissioners (NAIC) data showing their return on net worth falling from 7 percent in 2008 to 4.6...
Missouri Insurers Say 15,000 Cars Stolen in 2010
Apr 20 2011 // An insurance group says car thieves in Missouri targeted the Ford Taurus more than any other car in 2010. Citing numbers from the Missouri State Highway Patrol, the Missouri Insurance Information Service says more than...
How P/C Insurance Industry Fared Financially in 2010
Apr 20 2011 // U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5...
P/C Insurers Keeping an Eye on Congress
Apr 20 2011 // While lobbyists see few direct threats to the property/casualty insurance industry in the current Congress, P/C insurers have been advised to remain vigilant because several issues that could have a spillover effect on...
Fitch Affirms ACE Limited’s and Subs Ratings; Outlook Stable
Apr 20 2011 // Fitch Ratings has affirmed the ratings of ACE Limited and its subsidiaries (collectively, ACE), and has assigned an ‘AA-‘ Insurer Financial Strength rating (IFS) to Agri General Insurance Company (AGIC). Fitch...
Lloyd’s Insurer Chaucer Endorses The Hanover’s Takeover Bid
Apr 20 2011 // Lloyd’s insurer Chaucer plc has issued a statement endorsing the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Chaucer by 440 Tessera Limited (BidCo), a...
Missouri Insurance Dept. Returns More than $2M to Consumers in Q1 2011
Apr 19 2011 // The Missouri Department of Insurance reported it has helped consumers to retrieve $2.4 million from their insurance companies so far in 2011. The insurers returned the money to consumers after the department mediated...
Mississippi Workers’ Compensation Insurers Must File Safety Plans
Apr 19 2011 // All carriers licensed to offer workers’ compensation in Mississippi must file a summary or copy of any safety plans they offer their policyholders with state regulators under a new regulation. The Mississippi...
Lloyd’s Insurer Sportscover Expands; Blunt to Underwrite Bloodstock
Apr 19 2011 // Lloyd’s insurer Sportscover has taken another step in its plans for expansion with the announcement that it has appointed a “highly respected Bloodstock underwriter, Robin Blunt.” He has been in the...
Summary of Re/Insurers’ Loss Estimates from Japan’s Earthquake, Tsunami
Apr 19 2011 // Some of the world’s leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 will cost them and more are expected do so over the next few weeks. Risk...
Japan’s Meiji Life Says Confidence in U.S. Bonds ‘Unshaken’
Apr 19 2011 // Japan’s Meiji Yasuda Life plans to increase its investment in foreign bonds, focusing on dollar debt, with its confidence in U.S. Treasuries unshaken by the threat of a credit downgrade, a top executive said on...
Louisiana Lawmaker Fined Over Legal Work for State-Backed Insurer
Apr 18 2011 // A Baton Rouge, La., state lawmaker’s law firm has been fined for violating state ethics law, by doing legal work for the state-run property insurer of last resort. Jackson Bell Attorneys LLC – the law firm of...
ABIR Reports 2010 Results for Bermuda’s Re/Insurers; $11.4 Bn Net Income
Apr 18 2011 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2010 global underwriting results for its 22 member (re)insurers – companies that write insurance and reinsurance from underwriting centers in...
Calif. Workers’ Comp Rating Bureau to Skip Mid-Year Rate Filing
Apr 18 2011 // California’s Workers’ Compensation Insurance Rating Bureau governing board has decided not to make a mid-year pure premium rate filing suggesting a 40 percent increase. Instead, the WCIRB will make an...
Agents Concerned on Perpetuation; Relatively Few Take Action
Apr 18 2011 // The majority of agents and brokers today worry about how to perpetuate their firm to future owners, yet few agency owners report having a perpetuation plan in place. New findings in the forthcoming survey “2011...
Arizona Lawmakers Moving to Open Door to Health Insurers
Apr 15 2011 // Individuals and employers in Arizona would be able to buy health insurance policies across state lines under legislation that would excuse out-of-state insurers – and possibly in-state providers – from the...
Japan Plans State-Backed Insurer to Save TEPCO
Apr 15 2011 // Japan plans to set up a government-backed insurance fund to put money into Tokyo Electric Power and pay compensation stemming from the disaster at its Fukushima Daiichi nuclear plant, the Nikkei newspaper said. Aimed at...
