Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Wisconsin Gov. Signs Texting Bans; Insurers Warn Against All Distractions
May 6 2010 // Wisconsin Gov. Jim Dolye has signed legislation banning drivers from sending text messages while driving. Wisconsin joins Iowa, Kentucky, Michigan, Nebraska and Wyoming as the states to pass laws that ban all drivers from...
Four More Massachusetts Insurers Settle over Driving Records
May 6 2010 // Nearly 10,000 Massachusetts drivers’ records will be corrected after four insurers reached settlements with the state over their failure to do so. Attorney General Martha Coakley’s Office reached settlements...
Insurers’ Gulf Coast Oil Spill Losses Estimated at $1.4B
May 5 2010 // Companies with exposure to the sinking of the Deepwater Horizon oil rig in the Gulf of Mexico are insured for losses totaling about $1.4 billion, according to initial reports. “The insurance losses from the sinking...
74% of Nation’s Top Insurance Companies Are Hiring
May 4 2010 // The insurance industry employment outlook for 2010 is guarded, but cautiously optimistic, according to a new survey that also revealed 74 percent of the nation’s top insurance companies are currently...
Wash. Judge: Insurer Can Be Held Liable for Agent’s Actions
May 3 2010 // In a ruling that’s being closely watched by some insurers, a Thurston County, Wash., judge has affirmed that the state insurance commissioner may hold an insurance company liable for the actions of the...
Florida Lawmakers Pass Omnibus Property Insurance Bill
May 3 2010 // On the final day of this legislative session, Florida lawmakers passed omnibus legislation that aims to bring more control over homeowners insurance costs, raises the state’s minimum capital requirements for...
Arizona Privatizing Workers’ Compensation Insurer
May 3 2010 // The Arizona Legislature has approved a bill that to privatize the state workers’ compensation insurer as an Arizona mutual insurance company, beginning Jan. 1, 2013. The State Compensation Fund (SCF) was created in...
P/C Industry’s Net Income Up $25B in 2009; Combined Ratio Improves to 101
May 3 2010 // The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C...
Insurer Wins Appeal in Lead-Contaminated Chinese Toy Case
May 3 2010 // A federal appeals court has ruled that an insurance company has no duty to defend against class action lawsuits filed in Illinois targeting the company’s insured, a Chinese manufacturer of toys sold in the United...
Geneva Ass’n. Criticizes IMF’s ‘Stability Tax’ as ‘Contradictory’ for Insurers
Apr 29 2010 // The Geneva Association,* the most prominent global “think tank” for the insurance industry, has taken issue with the proposals from the International Monetary Fund to impose a “financial stability...
U.S. Targets Crop Insurers’ Profits
Apr 29 2010 // The federal government wants to save taxpayers billions of dollars by reducing spending on crop insurance after years of big profits by insurers, but the industry claims the reductions could hurt rural areas. The U.S....
New Mississippi Insurer to Compete for Coastal Home Insurance Business
Apr 29 2010 // A newly-formed Mississippi company with backing from a Florida insurer and local private investors including six independent agencies will begin writing homeowners policies on the coast in Mississippi. Gulfport-based...
Colorado Bill May Drive Contractors Insurers Out of State
Apr 28 2010 // The Colorado House of Representatives has passed a bill that may have the unintended consequence of driving insurers that provide contractors coverage out of state, according to the Professional Independent Insurance...
Directors & Officers Liability Renewals: A Tale of Two Markets
Apr 27 2010 // Your client’s directors and officers liability policy is coming up for renewal. What can you expect from the market? Like the Dickens classic, this is a tale of two markets. The Best of Times For companies with...
UK Insurers Call IMF Insurance Tax Proposals ‘Inappropriate’
Apr 26 2010 // In a response to reports that the International Monetary Fund (IMF) is planning a new levy on all financial institutions, not just banks, Kerrie Kelly, the Director General of the Association of British Insurers issued a...
Insurer Won’t Pay Legal Costs in Pennsylvania Webcam Spying
Apr 26 2010 // An insurance company is balking at paying legal costs for a suburban Philadelphia school district accused of spying on students through laptop webcams. Meanwhile, a lawyer for a student suing the Lower Merion School...
Mixed Ruling in Connecticut Contingent Commissions Case
Apr 26 2010 // A Connecticut court has ruled that Wells Fargo-owned insurance brokerage Acordia Inc. broke the law by failing to disclose it received contingent commissions from five insurers. At issue in the case was an internal...
Louisiana Bill Would Ban Insurance Cancellations Due to Chinese Drywall
Apr 23 2010 // A prohibition against insurance companies dropping coverage for homes or businesses that contain corrosive, Chinese-made drywall has advanced in the Louisiana Senate. The bill by Sen. Julie Quinn, R-Metairie, would bar...
Connecticut Recovered over $1M from Insurers in First Quarter
Apr 22 2010 // The Connecticut Insurance Department said it recovered over $1 million on behalf of consumer in the first quarter of the year. The department’s consumer affairs unity, which oversee complaints against insurers,...
Convicted Kidnapper of South Dakota Insurance Executive Sues Insurer
Apr 22 2010 // Eric Castaneira, who went to prison in for kidnapping an executive at South Dakota-based Midland National Life Insurance Co. in 1991, has filed a lawsuit seeking more than $500,000 from the company, plus punitive damages...
