Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Economy Forcing Changes in Carrier Investment Philosophy
Jun 1 2009 // Ratings Agencies May Need to Rethink Their Methodologies as Well The current economic environment has produced several influences that in combination are negatively affecting, or at least stressing, property casualty...
A.M. Best Concerned Over Insurers’ Exposure to the Florida Hurricane Fund
Jun 1 2009 // Based on the recently revised projected claims-paying capacity of the Florida Hurricane Catastrophe Fund (FHCF), rating agency A.M. Best has updated its treatment of reinsurance provided to rated entities from this...
California Considers Bill to Expand Insurance Fraud Reporting Law
Jun 1 2009 // The California legislature is considering amending the state’s insurance code to expand the state’s reporting law in insurance fraud. According to the text of AB 802, existing law requires “an insurer, or...
California Wildfires: Coverage Disputes May Be Heating Up
Jun 1 2009 // On a number of well-publicized occasions, California homeowners have been ravaged by a series of wildfires with devastating results. Most recently in May in Santa Barbara, for example, the Jesusita Fire burned 80 homes and...
Supreme Court Nominee Sotomayor Shows Record of Favoring Insurers
Jun 1 2009 // The Supreme Court almost never takes up insurance related cases. Even so, President Obama’s recent nominee brings a long record of decisions favoring insurers, a possible plus for the insurance industry, said...
State Auto: How a Regional Carrier Weathers the Storms
Jun 1 2009 // Super Regional CEO Restrepo Talks Catastrophe Losses, Premium Growth and Independent Agents How are regional insurance companies faring in today’s climate — financial and catastrophe? What challenges do they face?...
Insurer Closing Claims Office in Maine
Jun 1 2009 // Insurance giant Allstate Corp. is closing its claims office in South Portland, a move that affects 55 people. Company spokesman Mike Siemienas said Wednesday the shutdown will take place by July 31 and is part of a...
New York Med Mal Insurer is $43M Short
Jun 1 2009 // Law Bars State from Regulating Insolvent PRI New York’s second-largest medical malpractice insurer is more than $43 million in the hole, according to new regulatory filings, but state regulators are legally forbidden...
Texas Legislators Pass Windstorm Insurance Bill
Jun 1 2009 // On the first day of the official hurricane season for 2009, and on the last day of the Texas legislative session, Texas lawmakers passed a bill that would recapitalize the Texas Windstorm Insurance Association...
Fireman’s Fund: Focusing on Agents
Jun 1 2009 // CEO LaRocco, Exec Barnard Outline Insurer’s Renewed Strategy to Re-Engage Agents and Deliver Greater Value Weathering today’s economic storm has not been easy for insurance companies. Consumers are more...
New Municipal Bond Insurer Set to Launch, Reports Reuters
Jun 1 2009 // A newly formed U.S. municipal bond insurer, ready to open its doors as soon as it gets credit ratings, expects to launch with about 50 employees and double that number as it ramps up, executives told Reuters. Municipal and...
DCAP Morphs from Agency Franchiser into Insurer
Jun 1 2009 // Newly Reconstituted as Kingstone Insurance Co. DCAP Group Inc., an upstate New York franchiser of independent agencies, is ditching its franchise insurance business as part of a strategic move to exit the retail insurance...
Coastal Insureds, Insurers Brace for Start of New Hurricane Season
Jun 1 2009 // As the 2009 hurricane season arrives, many homeowners are finding insurance is either more expensive, or harder to get. Homeowners from New York to Florida and in the Gulf Coast region are again seeing premiums rise and...
State Auto: How a Regional Carrier Weathers the Storms
Jun 1 2009 // CEO Restrepo Talks Cat Losses, Premium Growth and Independent Agents Regional property/casualty insurance companies don’t make headlines like the large institutions. They simply go about their business serving...
California Workers’ Comp Insurer Files for 15% Premium Increase
May 29 2009 // California’s State Compensation Insurance Fund has filed a mid-year rate plan that reflects a 15 percent increase in collectible premium. The revised rates will apply to new and renewal workers’ compensation...
Best Revises Selective and Subs Outlook to Negative; Affirms Ratings
May 28 2009 // A.M. Best Co. has revised its rating outlook to negative from stable, but has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Selective...
Willis Aerospace Says Manufacturers Paying More than Fair Share
May 27 2009 // A report from Willis Aerospace asserts that, “aerospace product manufacturers are bearing a disproportionate share of aviation market premium, considering the record profits insurers derive from the sector and its...
Canada’s Auto Insurers Call for Effecftive Cost Control for Consumers
May 26 2009 // The Insurance Bureau of Canada, which represents 95 percent of the Country’s P/C carriers, has reacted strongly to charges that they oppose reforms in the auto sector. The IBC stated: “An alliance of medical/...
Only 2 Florida Domestic Insurers Lose Demotech Ratings Thus Far
May 22 2009 // Two domestic property insurers no longer writing in the state — one by choice, the other forced– are the only two Florida insurers negatively affected thus far by a rating agency’s review of small...
Coastal Insurance Rates Could Rise if Federal Tax Law is Enacted
May 21 2009 // As it girds for hurricane season, Texas has plenty to worry about. The Texas Windstorm Insurance Association (TWIA) – which provides coverage for high risk coastal properties – has ended up at the brink of...
