Carriers - Latest Insurance News

Markel to Acquire Workers’ Compensation Insurer FirstComp

Jul 15 2010 // Specialty insurer Markel Corp., has struck a deal worth at least $135 million to acquire Aspen Holdings, which sells workers’ compensation under the name FirstComp to small businesses in 31 states. Aspen, which is...

Insurer to Occupy Majority of Cincinnati’s New Tallest Building

Jul 14 2010 // When complete, the Great American Tower in Cincinnati, Ohio, will be the city’s tallest building, and one crowned with a tiara. City leaders celebrated Tuesday as the final piece was placed into the “grand...

Allstate’s Castle Key Insurers Seek 18-33% Rate Hikes in Florida

Jul 13 2010 // Allstate Insurance subsidiaries in Florida are seeking rate increases from 18 percent to 33 percent. Castle Key Insurance Co. has filed with the Florida Office of Insurance Regulation (OIR) to increase homeowners rates by...

Insurer Ace Replaces Millipore on S&P 500

Jul 9 2010 // Standard & Poor’s Thursday said it will add property and casualty insurer Ace Ltd to its flagship Standard & Poor’s 500 stock index after the close of trading on July 14. Ace will replace Millipore...

Michigan Supreme Court Lifts Ban on Use of Credit Scores by Insurers

Jul 9 2010 // The Michigan Supreme Court has ruled that the Granholm Administration exceeded its authority when it banned the use of credit scoring by insurance companies in the state. The decision means insurers in Michigan can...

Obama Administration Asks Health Insurers to Embrace Reforms Now

Jul 9 2010 // U.S. Health Secretary Kathleen Sebelius, who has bashed insurers over rate increases, is seeking their help in making medical coverage accessible for more patients in the years before major reforms take effect. Sebelius,...

New York to Weigh Expanding Excess Lines Insurance List

Jul 8 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing on August 20 to explore the possibility of increasing insurance capacity in New York by easing access to unauthorized...

Health Insurer to Pay Connecticut $250K for Data Breach

Jul 8 2010 // A California-based health insurance company has agreed to pay Connecticut $250,000 for losing a disk drive containing private information of 1.5 million customers, including nearly 450,000 state residents. Attorney General...

Arkansas: Consumers Scammed by Insurer Face Claim Deadline

Jul 8 2010 // Arkansas Consumers who were scammed by an unlicensed health benefits company called American Trade Association Inc. (ATA) or its affiliates have until Aug. 31, 2010, to pursue a refund of money they paid for this phony...

New Jersey Supreme Court: Insurer Must Defend in House Guest Overdose

Jul 8 2010 // An insurance company must defend a homeowner who was sued after a woman overdosed on drugs at a house party he held, the New Jersey Supreme Court has ruled. This week’s ruling written by Justice Helen E. Hoens...

Actuarially Sound Property Rates Remain Elusive Along Texas Coast

Jul 7 2010 // Insurance company interests have long complained that the state-backed Texas Windstorm Insurance Association charges rates that are not actuarially sound for the risks it insures, making it impossible for private insurers...

New York Approves Medical Malpractice Insurance Rate Hike

Jul 7 2010 // The average medical malpractice insurance rate increase for New York doctors this year will be five percent. The increase, which took effect July 1, follows two years of rates freezes. New York State Insurance...

Marsh Warns Gulf Oil Disaster Insureds of July 8 Notice Deadline

Jul 6 2010 // Insureds facing the possibility of losses from the BP oil disaster in the Gulf of Mexico are being advised to submit their written notice to their insurance carriers as soon as possible and no later than July 8, 5 p.m....

West Virginians May Sue Insurers Under Human Rights Law

Jul 5 2010 // West Virginians can bring bad faith lawsuits against insurance companies under the state’s human rights act, the state Supreme Court of Appeals has ruled. The ruling rejects the widely-held belief that the sole...

2010 a Revolutionary Year for Truckers Insurance

Jul 5 2010 // The year 2010 might be considered revolutionary, as it is ushering in more changes for those who provide insurance for truckers than the industry has seen in a decade. Motor carriers, defined as anyone who uses a vehicle...

Actuarially Sound Rates Remain Elusive Along Texas Gulf Coast

Jul 5 2010 // Insurance company interests have long held that the Texas Windstorm Insurance Association charges rates that are not actuarially sound for the risks it insures, making it impossible for private insurers to compete for...

Construction Claims: Understanding Colorado’s Statutory Notice of Claim Process

Jul 5 2010 // In the construction industry, it is almost inevitable that at some time contractors and design professionals will receive a notice of claim (NOC) letter. This is the first step in the claims process that may lead to an...

2010 A Revolutionary Year for Truckers Insurance