Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
A Tale of Two Markets
Apr 5 2010 // What to Expect in the D&O Liability Renewal Market 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...
Best Affirms Tower Group’s ‘A-‘ Ratings
Apr 2 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the New York-based Tower Group Companies and its pooled and reinsured...
Selective Investment Officer Departs as Insurer Begins Outsourcing
Apr 2 2010 // New Jersey-based insurer Selective Insurance Group Inc. says it has begun outsourcing its investment operations to third party managers and as a result, its executive vice president and chief investment officer, Kerry A....
Insurers: Calif. Court Decision Emphasizes Need for Timely Defense
Apr 2 2010 // The California Court of Appeal has ruled that an insured can recover full defense costs, when an insurer fails to respond with timely defense. According to court documents in Intergulf Development v. Superior Court of San...
Soft Market, Weak Economy Will Challenge Insurers, Brokers in 2010
Apr 2 2010 // The recession may be over, but recovery is not happening quickly enough for insurers and brokers. From unemployment rates hovering at about 10 percent to still rising business bankruptcies, the lingering effects of the...
Arkansas Suspends Lincoln General Insurance Company
Apr 1 2010 // Arkansas regulators have suspended the Certificate of Authority of Lincoln General Insurance Company, domiciled in Pennsylvania, due to the company’s “financially hazardous condition.” In a March 24...
FERMA Survey Polls Commercial Buyers for Feedback to Insurers
Apr 1 2010 // The Federation of European Risk Management Associations (FERMA) announced that it is presently conducting, “a wide-ranging, risk management benchmarking survey,” aimed at compiling data to let insurers know...
Irish Financial Woes Dominate Discussion, Country’s #2 Insurer Taken Over
Mar 31 2010 // The European Insurance Forum, held in Dublin Monday and Tuesday, was dominated by the fiscal crisis that has hit Ireland particularly hard. Although the country’s insurance industry remains a bright spot in an...
Louisiana Surplus Lines Association Eyes Exemption Bill
Mar 31 2010 // One of the major bills of interest to the surplus lines industry in Louisiana during the current legilative session would clarify the exemption from rate and form filing for providers of excess and surplus insurance in...
Knowledge-Sharing Technology Could Boost Insurance Underwriter Recruiting
Mar 30 2010 // The shortage of experienced property/casualty insurance underwriters is growing as senior underwriters retire and the issue is keeping carrier executives up at night, according to an industry software provider that thinks...
Insurers Disagree With Calif. Over Divesture of Iranian Investments
Mar 29 2010 // California Insurance Commissioner Steve Poizner announced that 460 insurers have agreed in writing to a moratorium on future investments in 50 companies identified by the California Department of Insurance (CDI) to be...
P/C Insurers Can Handle Chinese Drywall Costs, Says Moody’s
Mar 26 2010 // Property/casualty insurers are expected to continue to handle costs for defective Chinese drywall claims in the normal course of business, according to a rating analyst with Moody’s Investors Service. Losses from...
Wisconsin Regulator Seizes Some of Bond Insurer Ambac’s Assets
Mar 25 2010 // State regulators are taking control of some of U.S. bond insurer Ambac Financial Group Inc.’s worst assets, the company said Thursday, in an action affecting some $35 billion of assets. Regulators in Wisconsin, where...
Florida Governor, Regulator Want Check on Insurer Payments to Affiliates
Mar 24 2010 // Florida Gov. Charlie Crist said he would like to give the state insurance regulator authority to prevent excessive payments by home-based insurance companies to affiliated managing general agencies and other...
Texas Insurer Group Awards Scholarships to Huston-Tillotson Students
Mar 24 2010 // The Insurance Council of Texas (ICT) has honored three students participating in the insurance curriculum at Huston-Tillotson University in Austin with scholarships. The 2010 ICT scholarship recipients at Huston-Tillotson...
Insurer Refunds Nearly $1M to New York Policyholders
Mar 24 2010 // Auto insurer Clarendon National Insurance Co. has refunded $992,000 to 1,227 automobile insurance policyholders the company overcharged when it improperly imposed a 30 percent rate hike, the New York State Insurance...
Insurance Agents, Carriers Make Progress in Modifying Dodd Bill
Mar 24 2010 // Insurance agents and carriers are reporting progress in their efforts to modify a proposed federal financial services regulation bill passed by the Senate Banking Committee, while risk managers have extended their support...
Terrorism Coverage in the Everyday World
Mar 22 2010 // Because of the threshold amount, many acts of domestic terrorism may not be certified. Even under the TRIA, insurers may exclude coverage for loss resulting from ‘non-certified’ acts of terrorism. After the...
Airing Out the Issues of Money Laundering
Mar 22 2010 // Multinationals Face Heightened Compliance Requirements in High Risk Countries As the international community steps up its efforts to fight money laundering, a number of countries are now requiring insurers to obtain...
8 New Markets in Response to Current Trends
Mar 22 2010 // Insurance Companies Generate New Programs to Bring in Additional Premium The last few years of the soft market have forced many carriers and agencies to get creative when it comes to bringing in additional premium. This...
