Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Commercial Market to Remain Stable, Challenging for Risk Managers
Jun 7 2010 // Marsh Sees Insurer Security, Transparency, Accountability as Issues Despite the global economic crisis, the commercial insurance market is poised to remain stable through 2010, but new challenges are emerging for risk...
Oil Rig Tragedies Shock Insurers, Destabilize Market, Says Willis
Jun 4 2010 // The U.S. Deepwater Horizon and Venezuelan Aban Pearl drilling rig losses have left upstream energy insurers with an unprecedented bill of $795 million within the space of a single month, destabilizing the market and...
Insurers: May Storms in Oklahoma Caused $1B in Damage
Jun 4 2010 // Industry representatives say insurance companies likely will pay out more than $1 billion for property damage sustained during a stormy month of May in Oklahoma. An estimate by ISO’s Property Claims Services unit,...
Calif. Bill Increases Disclosure for Pet Insurers
Jun 3 2010 // California lawmakers are bringing a version of health care reform to your pets. A bill that passed this week in the state Assembly would require greater disclosure from health insurance companies that cover animals. The...
S&P Warns P/C Insurers on Reserving Practices
Jun 3 2010 // Property/casualty (P/C) insurers have turned to releasing significant amounts of reserves in the past couple of years, even as the underlying business conditions have deteriorated, but may have to slow this practice,...
Insurers as Venture Capitalists? Maryland Pondering Tax Credit Plan
Jun 2 2010 // Maryland Gov. Martin O’Malley has a new proposal aimed at boosting the amount of venture capital for businesses like bioscience companies. The governor rolled out the proposal on Tuesday during a speech to academic,...
Florida Gov. Crist Vetoes Property Insurance Bill
Jun 1 2010 // As he hinted he would do, Florida Gov. Charlie Crist has vetoed an omnibus property insurance bill (SB2044) that the industry and even the state’s insurance commissioner had urged him to sign. Crist, who was elected...
Ohio Revokes Licenses of Oklahoma, New York Domiciled Insurers
May 28 2010 // The Ohio Department of Insurance has revoked the licenses of two troubled insurance companies: Imperial Casualty and Indemnity Co. of Oklahoma City, Okla., and Atlantic Mutual Insurance Co. (AMIC) of New York, N.Y. In...
Massachusetts AG Wants New Regulations for Insurers, Agents
May 28 2010 // Massachusetts Attorney General Martha Coakley is proposing new regulations that she says will rein in sales and underwriting practices for auto insurers and agents in the state. The regulations come in response to a report...
Maryland Suspends Insolvent Oklahoma Insurer
May 27 2010 // Maryland Insurance Commissioner Beth Sammis has suspended the license of Oklahoma-based Imperial Casualty and Indemnity Co., after a district court in its home state ordered the company liquidated. Oklahoma regulators...
State Farm First Insurer to Apply to Offer Californians Pay-As-You-Go
May 26 2010 // State Farm Mutual Automobile Insurance Co.is the first insurer to submit an application to offer an program that rewards California drivers who voluntarily drive fewer miles with lower auto insurance rates. State Farm is...
Survey: Agents Seek More Real Time Options from Carriers
May 26 2010 // Independent agents and brokers want more carriers to offer real-time functionality, according to a new industry survey. Agents believe those carriers will deliver the greatest benefit in making real time the predominant...
Arkansas Supreme Court: Class Action Suit Against Insurer Can Proceed
May 26 2010 // The Arkansas Supreme Court has affirmed a lower court order certifying class action status in a case involving an insurer’s depreciation practices in property claims against “actual cash value” homeowners...
Florida Case Could Hold Private Firms, Insurers Liable for Foster Kids’ Injuries
May 26 2010 // A few months after a 10-year-old child was placed with eight other children in a Tampa foster home overseen by a single mom, a 13-year-old boy sneaked into his room and raped him in 2005. But Hillsborough Kids Inc., a...
Insurers Paid $768 Million in Losses from 2009 Colorado Windstorm
May 25 2010 // An insurance organization says a windstorm that brought two weak tornadoes, rain and hail to the western Denver suburbs last July caused $768 million in insured losses to vehicles and homes. The Rocky Mountain Insurance...
MGAs Called Critical to Florida’s Property Insurance Market
May 25 2010 // Several of Florida’s insurers with affiliated managing general agencies (MGAs) have come in for criticism recently but there is no widespread problem with the MGA model, regulators and insurance industry executives...
Insurers Gain Access to Detailed UK Ordnance Survey Maps
May 25 2010 // “Ordnance Survey (OS) data is now publicly available for free, giving insurers access to crucial information to aid risk assessment,” states a bulletin on the Lloyd’s web site (www.lloyds.com). Making the...
Former Vice President at Rhode Island Insurer Acquitted
May 24 2010 // A former executive at Rhode Island’s dominant workers’ compensation insurer was acquitted Friday on a charge that he deceived state regulators about companies that were receiving discounted premiums. Superior...
Best Upgrades AXA Insurance Ratings to ‘A’; Outlook Stable
May 24 2010 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of New York-based AXA...
Best Affirms Selective Group’s ‘A+’ Ratings; Outlook Negative
May 21 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Selective Insurance Group and its seven P/C pooling members. Best also...
