Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Florida CEOs Urge ‘Cost Driver’ Reforms as Legislature Nears End
Apr 21 2010 // The Florida-Based Property Insurers CEO Group, representing 21 carriers, held a media conference today to discuss legislation to address the problems in the state’s property insurance market. The group downplayed the...
Bank Style Regulations Would Raise Insurance Costs, Analyst Says
Apr 21 2010 // Bank style regulation on property/casualty insurers would lead to significant policy error, says a leading insurance industry econmist. “Bank style regulation would needlessly raise insurance costs for hundreds of...
NorthWestern Energy’s Insurer Settles Over Montana Explosion
Apr 21 2010 // NorthWestern Energy’s insurance company will pay the city of Bozeman, Montana about $163,000 for costs incurred in the aftermath of a deadly natural gas explosion downtown. City commissioners voted unanimously to...
Many Insurance Professionals on Fantasy Island
Apr 20 2010 // Many insurance industry professionals are living in a dream. Their fantasy is that the soft market is ending, but nothing could be further from the truth. As long as our economy stays weak, the soft market will continue. A...
Auto Insurers Begin Process of Recouping Losses from Toyota
Apr 20 2010 // Insurance companies are gearing up to recoup from Toyota money they paid for claims in crashes involving sudden acceleration, the subject of major safety recalls by the Japanese automaker. It could also mean money back for...
Insurer’s Study Shows U.S. Refineries Plagued by Deadly Accidents
Apr 19 2010 // On the heels of a Tesoro refinery blast in Washington that killed five people, an insurance company report obtained by The Associated Press noted that U.S. oil refineries have an ongoing problem with accidents that turn...
Dealing with the Cover-Up
Apr 19 2010 // Increase in Falsified Insurance Applications Tied to Economy One of the many consequences of a tight insurance market during tough economic times is that potential insureds may have difficulty obtaining coverage if they...
Perfect Storm Brings Opportunities in Covering Health Care Providers
Apr 19 2010 // Health Care Reform Opens Doors for New Exposures and Markets Those in the business of providing liability coverage to doctors, nurses and other health care professionals, may have just found themselves in a perfect storm...
Some Health Insurers Shifting Costs Ahead of New Loss Ratio Mandate
Apr 19 2010 // Some of the largest U.S. health insurers are changing their accounting practices to book administration costs as medical costs in an attempt to circumvent new industry reforms, according to a recent U.S. Senate...
Lockton: Soft Market Pricing Continues to Benefit Insurance Buyers
Apr 19 2010 // Commercial insurance buyers continue to benefit from lower prices and steady or increasing insurance capacity in property/casualty markets, reports the nation’s largest insurance broker. In its newly published...
Keystone Insurers’ Kentucky Derby and Where It’s Going Next
Apr 19 2010 // Pennsylvania-based insurance agency franchisor Keystone Insurers Group has more than 200 agency owner-partners and it’s not done yet, says Colin Buzzard, Keystone’s executive vice president of sales and...
How Agency Helps Preserve Historic Homes, Business Districts
Apr 16 2010 // While other insurance agents are visiting manufacturing plants, shopping malls and office parks, Brian Phoebus is hanging out in historic homes, renovated museums, art galleries and performing arts theaters. His haunts...
Insurer Wins Appeal in Lead-Contaminated Chinese Toy Case
Apr 16 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...
European Insurers Expect Little Hit from Volcano Fallout
Apr 16 2010 // Airlines which stand to lose millions of euros from a cloud of Icelandic volcanic ash disrupting flights and closing airports across northern Europe are expected to have little recourse to recoup losses from insurance...
Insurers’ Group Comments on End of Sessions in Maine, Maryland
Apr 15 2010 // The American Insurance Association (AIA) says the P/C industry made some positive legislative steps in Maine and Maryland this year, although the trade group says it was disappointed with a Maryland law that will raise the...
P/C Industry’s Net Income Up $25B in 2009; Combined Ratio Improves
Apr 15 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...
Insurance Industry Urged to Explore Alternatives to Credit Scoring
Apr 14 2010 // With the use of credit scoring still under attack, the insurance industry would be wise to consider new ways to assess risk, according to an industry actuary. Roosevelt Mosley, a principal with Pinnacle Actuarial Resources...
Florida Chief McCarty: Facts, Not Fear, Should Guide Insurance Debate
Apr 12 2010 // Florida Insurance Commissioner Kevin McCarty sent a letter to the state’s media outlets on April 9 regarding the current property insurance system and what should be done to improve it. In it, he says the exodus of...
Olympus Is Latest Insurer Under Scrutiny by Florida Regulators
Apr 12 2010 // Another young Florida property insurance company is in trouble with state regulators and could lose its license if it does not cut back on business, boost its reinsurance and explain some if its accounting. Olympus...
Crop Reinsurers’ Profit Could Fall 30% Under USDA Changes, Says Aon
Apr 12 2010 // Proposed cuts in the agreement crop insurers have with the federal government would likely reduce reinsurers’ expected profit by 20 to 30 percent, which could lead to some companies withdrawing from the program or...
