Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
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...
