Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Former State-Backed Insurer, Brickstreet, Repays West Virginia Loan
Jul 2 2009 // Workers’ compensation insurer BrickStreet Mutual Insurance Co. says it has completed an early payoff on a $200 million startup loan from West Virginia. President and Chief Executive Officer Greg Burton says the...
Missouri DOI Returns Nearly $6M to Consumers in First Half of 2009
Jul 2 2009 // Consumers who filed complaints with the Missouri Department of Insurance received $5.9 million from insurance companies during the first half of 2009, the department has reported. The money was returned as a result of the...
Insurer Group Asks Louisiana Governor to Veto Workers’ Comp Bill
Jul 1 2009 // The Property Casualty Insurers Association of America (PCI) has asked Gov. Bobby Jindal to veto House Bill 658, workers’ compensation legislation that PCI believes would increase the likelihood of fraudulent claims,...
Commissioner Directs California Insurers To Divest Iranian Government Holdings
Jun 30 2009 // California Insurance Commissioner Steve Poizner announced that he will launch an effort to probe insurance company investments for ties to Iran and immediately direct California-based insurance companies to divest any...
Medical Liability Insurer Dropping Rates by 11% in Texas
Jun 30 2009 // Austin, Texas-based medical professional liability insurer, Medicus Insurance Company (Medicus) has announced an overall 11 percent rate decrease for its insureds in Texas. The Texas Department of Insurance approved the...
Cat Bond Market Still Seeking Collateral Solution
Jun 29 2009 // Insurers are still seeking a universal solution to weaknesses in catastrophe bonds exposed by Lehman Brothers’ collapse, though structural improvements have helped push sales past $1 billion this year. This...
North Carolina Coastal Insurance Fix Would Alter Deductibles, Limits
Jun 29 2009 // North Carolina legislators started grappling last week with how to beef up the state-created but underfunded insurance program for coastal property, and immediately confronted the possibility that all of the state’s...
Congress Told New Consumer Agency Not Needed for P/C Insurance
Jun 25 2009 // There is no need for a federal consumer protection agency for property/casualty insurance products, state insurance regulators and insurers told Congress. In testimony before the House Committee of Financial Services on a...
Agents Advised to Know How Work Comp Trusts Differ From Typical Insurance Companies
Jun 25 2009 // To start off, what exactly is a workers’ compensation group trust? Per the New York State Insurance Department Web site, it is: [A] group of employers who perform related activities in an industry who agree to be...
Microinsurance Industry Sees Profits from the Poor
Jun 25 2009 // Slum-dweller Krustin bin Juri lost everything when floodwaters swept through his home and shop on the banks of Jakarta’s filthy Ciliwung river two years ago. But when the next flood hits, and it will because Jakarta...
Best Affirms Wind River Re’s ‘A’ Ratings, Stable Outlook
Jun 25 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S....
West Virginia Workers’ Compensation Insurer Approved in Kentucky
Jun 25 2009 // West Virginia’s BrickStreet Mutual Insurance Co. said it received word this week that it has been approved to write workers’ compensation insurance in Kentucky. The expansion into Kentucky begins a “new...
California Commissioner Seeks Comments on PAYD Auto Insurance
Jun 25 2009 // California Insurance Commissioner Steve Poizner has issued proposed regulations for Pay-Drive (Usage Based Auto Insurance), and is accepting public comments on the proposal until 5 p.m., Thursday, July 9, 2009. According...
North American Insurers Join Global Accounting Standards Groups
Jun 25 2009 // The Group of North American Insurance Enterprises (GNAIE) has joined a new coalition of trade associations, representing all sectors of the economy and areas of the financial services arena, that will engage the Financial...
Potential Sale of California Workers’ Comp Insurer Assets Creates Concerns
Jun 25 2009 // California Insurance Commissioner Steve Poizner said he is “troubled by the details of the proposal” to sell some assets of the state’s workers’ compensation insurance, State Compensation Insurance...
California Governor Proposes Selling Some State Workers’ Comp Insurer Assets
Jun 24 2009 // California Gov. Arnold Schwarzenegger is proposing to sell a portion of the state workers’ compensation insurer State Compensation Insurance Fund for $1 billion, Rachel Cameron, deputy press secretary for the...
Obama Flexible But Says Public Health Option Would Control Costs
Jun 24 2009 // President Barack Obama said Tuesday his healthcare overhaul needed a public insurance option to enforce market “discipline,” but stopped short of saying he would veto legislation without one. Obama, who has...
All North Carolina Homeowners Could Pay If Insurers, Beach Plan Fall Short
Jun 24 2009 // Every insured homeowner in North Carolina could shoulder the cost of rebuilding if a massive hurricane hits under a deal taking shape in the Legislature. The legislation (HB1305), expected to be detailed in a House...
Louisiana Legislative Actions Both Please and Disappoint Insurer Group
Jun 24 2009 // The American Insurance Association (AIA) has expressed disappointment that the Louisiana Senate chose not to consider asbestos lawsuit reform legislation during the 2009 session. The insurance company trade group, however,...
Study: Number of Customers Shopping for New Insurance Providers Declines
Jun 24 2009 // Good news for insurers and their agents. Fewer insurance customers are shopping for another insurance provider — 28 percent, compared with 36 percent in 2008. Across the industry, 90 percent of auto insurance...
