Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Debate Begins: Will Japan Disaster Raise Insurance Rates?
Mar 16 2011 // Losses from the Japanese earthquake will reduce insurers’ capital reserves, insurance brokers said Tuesday, as sector shares continued their sharp declines on fears the disaster’s size could grow. Ace, a...
Kentucky Condo Owners Await Ruling Over Shoddy Construction
Mar 15 2011 // A group of condominium owners in northern Kentucky is hoping a judge’s ruling will give them an opportunity to collect several million dollars from a defunct construction company they say did shoddy work on their...
Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’
Mar 15 2011 // Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and...
Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares
Mar 15 2011 // Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts...
Nebraska: Insurers May Not Collect Fees for Health Insurance Consultants
Mar 14 2011 // Health insurance companies may not collect fees from a new insured on behalf of an insurance consultant if the insurance business is placed by an insurance consultant in Nebraska, according to the Nebraska Department of...
Two Florida Insurers Face Insolvency Actions: Seminole, AequiCap
Mar 14 2011 // Two Florida insurers are facing regulatory action as the state’s Office of Insurance Regulation (OIR) ordered commercial insurer AequiCap Insurance Co. into liquidation and suspended the license of insurer Seminole...
Analysts Describe Quake/Tsunami Impact on Japan’s P/C Insurers as ‘Limited’
Mar 14 2011 // A decline in shares of Japanese non-life insurers including MS&AD Insurance Group [Mitsui Sumitomo] is expected to be temporary as the impact on their earnings of the earthquake and tsunami in northeast Japan should be...
“Unexpected Nature” of Japan Quake Complicates Insured Loss Estimates
Mar 14 2011 // The unexpected nature of this week’s earthquake in Japan, plus the damage from the subsequent tsunami and fires, makes estimating insured losses from the disaster especially difficult, senior executives at two top...
$35 Billion Japan Quake Cost Estimate Weighs on Insurers
Mar 14 2011 // Shares in European insurers fell steeply on Monday after analysts estimated over the weekend that the Japanese earthquake could cost the industry nearly $35 billion, making it one of the most expensive disasters ever. The...
Ohio Reveals Top Insurance Fraud, Enforcements for 2010
Mar 11 2011 // Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor has announced the agency’s top insurance fraud and enforcement cases of 2010.The DOI opened more than 160 consumer insurance fraud cases last...
Missouri DOI Fines Auto Insurer $256K; Orders Operational Changes
Mar 11 2011 // A Chicago-based auto insurance company has paid $256,000 in fines and is required to more quickly process, investigate and pay claims under a settlement reached with the Missouri Department of Insurance, the department...
Michigan Court Orders Insurer to Pay Mother Who Saw Son Die in Crash
Mar 11 2011 // An Ohio insurance company must pay benefits to a Detroit-area woman who suffers from witnessing the death of her son on a motorcycle. The Michigan appeals court said Gale Boertmann of Clinton Township can collect on her...
Insurers’ Share Prices Fall on Japan Earthquake News
Mar 11 2011 // Shares in European insurers and reinsurers fell sharply in early trading on Friday after Japan was hit by a massive earthquake, one of the biggest ever recorded. The quake, which measured 8.9 on the Richter scale, hit off...
Insurer Group Testifies in Support of Kansas Bill Banning ‘Crash’ Taxes
Mar 10 2011 // The American Insurance Association (AIA) announced it testified in favor of legislation in Kansas — House Bill 2119 — that would prohibit municipalities from adopting accident response fees or “crash...
Noah Joins Insurer Group AIA in Federal Affairs Post
Mar 8 2011 // The property/casualty insurance trade group, the American Insurance Association (AIA), announced that Adam Noah has joined as its new vice president for federal affairs. Most recently, Noah served in the office of Senator...
Florida Lawmakers Aim to Shrink State Insurer Citizens
Mar 8 2011 // Florida lawmakers are looking to cut the state’s largest property insurer down in size. The plan is to reduce the number of properties insured by Citizens Property Insurance Corp. by allowing it to raise its rates by...
How California Bill Implements Federal NRRA Surplus Lines Reform
Mar 8 2011 // The Nonadmitted and Reinsurance Reform Act (NRRA), Subtitle B, Part I, Dodd-Frank Wall Street Reform and Consumer Protection Act, reaches out and touches California on July 21, 2011. In anticipation of its effective date,...
E&O Insights: Common Auto, Homeowners Errors
Mar 7 2011 // An Estimated 30% of All Agency E&O Claims Arise from Handling Auto and Homeowners Business When dissecting Errors & Omissions claims frequency, it is apparent there is real E&O exposure for agencies writing...
South Dakota Senate Panel Rejects Bill Challenging Insurer Subrogation
Mar 7 2011 // A bill aimed at changing South Dakota’s insurance law to give some injured people a better chance of receiving full compensation for their losses has been rejected by a state Senate panel. However, one of the...
Insurer Rejects Fan’s $50,000 Hockey Shot Pay-Out
Mar 7 2011 // An Indiana Ice fan who shot a hockey puck the full 175-foot length of the hockey rink into a target with the chance to win $50,000 in a minor league hockey game promotion won’t be able to give the money to charity....
