Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Tennessee Court Says Insurer Not Liable for Damages in Sheriff Shooting
Jan 26 2010 // A Tennessee appellate court has ruled a county liability insurer doesn’t have to pay $5 million in damages won by the widow of a slain sheriff’s deputy in a wrongful death lawsuit over his shooting death. The...
Asia Special Situation Acquisition Corp. Makes Insurance Company Buy
Jan 25 2010 // The Asia Special Situation Acquisition Corp. (ASSAC) announced that it has completed its business combination by the acquisition of one insurance company together with approximately $650 million of assets from two...
Insurers Group Sues State of New York
Jan 24 2010 // A trade group for insurers in New York is suing the state, claiming lawmakers are illegally using assessments paid by insurers to fund unrelated state activities. At issue is the state’s use of the so-called...
Insurers to Curb Agency Compensation in 2010, Ward Group Study Finds
Jan 24 2010 // Total property/casualty insurance agency compensation is expected to decrease slightly in 2010, largely due to contingent commission changes. Four out of 10 insurance companies plan to modify their agent compensation plans...
Why Carriers Invest in Education
Jan 24 2010 // Carriers Say Benefits in Producer Sales Education Well Worth the Investment For years, many insurance companies prided themselves on running successful producer training programs for the independent agents who represented...
Private Crop Insurers Oppose Funding Cuts
Jan 22 2010 // The private crop insurance industry is blasting a proposed restructuring in the crop insurance program they say would cut $4 billion — or $800 million a year — over the next five years. The proposal, by the...
Colorado Gov. Studies Workers’ Comp Insurer Sale
Jan 22 2010 // Colorado Gov. Bill Ritter is meeting with an investment banker to study the possible sale of the state’s interest in Pinnacol Assurance, a state-chartered workers compensation insurer, his chief counsel said. Ritter...
White Mountains Re to Buy Troubled Nebraska-Based Insurer
Jan 22 2010 // White Mountains Re Ltd., a wholly owned subsidiary of White Mountains Insurance Group Ltd. has agreed to acquire Central National Insurance Company of Omaha, Neb., from Drum Financial Corporation. In runoff since 1989,...
West Virginia Eyes Lien on Fire Insurance to Fight Abandoned Buildings
Jan 21 2010 // West Virginia may be on the path to helping municipalities pay for debris removal of abandoned buildings with insurance payments in a way that insurers can live with. The issue of how to pay for the cleanup has irked...
Washington Commissioner, Insurers Debate Credit Scoring Use
Jan 21 2010 // Washington Insurance Commissioner Mike Kreidler is seeking to prohibit the use of credit history, education and income for rating and underwriting personal insurance — the effect of which would likely result in...
Virginia County Wants Insurers to Pay for Ambulance Services
Jan 21 2010 // The Board of County Supervisors in Prince William County, Virginia is considering raising the cost of an ambulance trip. The board on Tuesday moved forward with a plan to have insurance companies pay between $400 and $700...
Former Insurance Co. Employee Sentenced for Stealing from Carrier, Agents
Jan 21 2010 // Mark Camacho, 41, of Cedar Hill, Texas, a former employee of Americo Life Insurance Co., was sentenced in federal court for stealing more than $900,000 from the carrier and its agents’ commission accounts. Chief U.S....
S&P:No Downgrades for Financials, Insurers from Japan Airlines Bankruptcy
Jan 21 2010 // Standard & Poor’s Ratings Services stated that its ratings on Japan’s financial institutions and insurance companies “would be unaffected by the debt forgiveness requested by Japan Airlines Corp....
Swiss Re in $1.268 Billion Deal with Berkshire Hathaway Life Insurer
Jan 19 2010 // Swiss Re has concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written prior to 2004.” The...
Entergy, Insurers File Second Suit Against Corps Over Katrina Flooding
Jan 19 2010 // Entergy Corp. has filed a second suit against the Army Corps of Engineers over flooding that followed Hurricane Katrina, leaving behind hundreds of millions of dollars to power systems and higher rates for hundreds of...
Florida Workers’ Comp Insurer SUNZ Buys Tennessee’s Brentwood National
Jan 15 2010 // SUNZ Insurance Co. of St. Petersburg, Fla. reported it has acquired Brentwood National Insurance Co. of Brentwood, Tenn., a workers’ compensation services and claims firm. SUNZ sells workers’ compensation...
West Virginia Workers Compensation Insurer BrickStreet Approved in Illinois
Jan 15 2010 // West Virginia-based BrickStreet Mutual Insurance said it has been approved to begin writing workers’ compensation insurance in Illinois. The move continues an expansion drive for the company, which was approved to...
Georgia Estimates Snow, Ice Storm to Cost Insurers $25 Million
Jan 14 2010 // Georgia Insurance Commissioner John Oxendine said that insured losses in North Georgia from the recent snow and ice storm are estimated to be about $25 million. The estimate includes damage to cars as well as homes and...
Insurers Group Sues State of New York
Jan 14 2010 // A trade group for insurers in New York is suing the state, claiming lawmakers are illegally using assessments paid by insurers to fund unrelated state activities. At issue is the state’s use of the so-called...
Oregon Law Gives Consumers More Vehicle Information When Car is Totaled
Jan 13 2010 // The Oregon Department of Consumer and Business Services is reminding insurance agents and residents that they have new rights if their vehicle is totaled in an accident. New rights when your car is totaled House Bill 2190...
