Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Top 5 Insurance Issues for Farmers in a Soft Economy
Feb 22 2009 // Review Exposures, Values and Maximize Insurance Value to Ensure Satisfied Farm Customers Thanks in part to commodity prices that are still higher than average and, thankfully, less volatile than in 2008, the agricultural...
Oliver to Retire as President of Texas Mutual Insurance Company
Feb 20 2009 // Russell R. Oliver, president of Texas Mutual Insurance Company since 1995, is retiring from the company at the end of August 2009, the company has announced. “I am very proud of Texas Mutual and our accomplishments,...
Travelers Broadens Coverage for Private/Mutual Insurers
Feb 19 2009 // As mounting economic uncertainty leads to new and increasingly complex business challenges for executives, Travelers Bond & Financial Products has unveiled new program enhancements and a Private/Mutual Insurance...
5 Insurers Asked to Testify at Florida Hearing on Credit Scoring Today
Feb 18 2009 // The Florida Office of Insurance Regulation will hold a public hearing this morning in Tallahassee about the use of credit scoring, credit history and credit models by insurers in the underwriting and setting of rates. The...
South Carolina Celebrates Licensing 200 Captive Insurers Since 2000
Feb 18 2009 // The South Carolina Department of Insurance is celebrating issuing its the 200th captive insurance company license. State Insurance Director Scott H. Richardson presented the license to Hardin Construction Co. of Atlanta,...
Louisiana Workers’ Compensation Insurer to Pay $7.5M Dividend
Feb 18 2009 // Louisiana Workers’ Compensation Corporation (LWCC) announced it will pay a $7.5 million dividend to qualifying policyholders in February. The pay out will bring LWCC’s cumulative total dividend paid to...
A.M. Best Downgrades Kingsway & Several Subsidiaries
Feb 18 2009 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) and senior debt ratings to “b-” from “b” of Kingsway Financial Services Inc. (KFSI) (Mississauga, Ontario) and Kingsway America Inc....
Aegon, L&G See More Defaults, Insurer Woes Continue
Feb 18 2009 // Writedown woes hit European insurers again on Tuesday as life insurers Legal & General Plc and Aegon NV predicted more companies would default on loans, sending insurance shares down. Legal & General more than...
Beazley Acquiring The Hartford’s Surplus Lines Insurer, First State
Feb 17 2009 // London-based insurer and reinsurer Beazley Group is acquiring Boston-based First State Management Group, an underwriting manager specializing in excess and surplus lines commercial property insurance for $35.4 million in...
Reinsurers Seem Ready to Flex Muscles, Raise Prices by Double-Digits
Feb 17 2009 // Reinsurers’ tough talk about raising prices on the risk cover they sell to insurers may have rung hollow before, but this time the promise is credible. Reinsurance companies such as global leader Munich Re have been...
Best’s Insurer Rating Upgrades Barely Outpaced Downgrades in 2008
Feb 17 2009 // Natural catastrophes and financial upheaval drove a sharp reversal in the property/casualty industry’s fortunes in 2008, and the effects spread to A.M. Best Co.’s rating activity, as upgrades barely outpaced...
Florida Rejects State Farm Withdrawal Plan; Requires Major Conditions on Citizens, Agents
Feb 13 2009 // Florida Insurance Commissioner Kevin McCarty has offered a withdrawal plan for State Farm Florida Insurance Co. and its parent company with major conditions that were not in the original plan submitted by the insurer. In...
5 Michigan Auto Insurers Pledge to Freeze Rates
Feb 12 2009 // One week after Michigan Gov. Jennifer Granholm called on auto insurance companies to freeze their rates, five insurers have said they will comply. In a Feb. 3 order, Granholm asked each automobile insurance company doing...
Mississippi Rejects 6 Insurers’ Appeals of Windpool Assessments
Feb 12 2009 // Mississippi Insurance Commissioner Mike Chaney has upheld the efforts of the state’s wind insurance pool to collect millions of dollars in past assessments from six insurance companies. The insurers had claimed that...
Announcing the Redomestication of National Contractors Insurance Company, Inc., A Risk Retention Group to Montana!
Feb 9 2009 // National Contractors Insurance Company, Inc., a Risk Retention Group (NCIC) specializing in general liability insurance for licensed residential and commercial general and artisan contractors, has redomesticated to...
Iowa Insurer Lays Off 60 Employees
Feb 9 2009 // A Des Moines-based insurance company has announced it will eliminate 60 jobs as part of the company’s business plan. Officials with American Enterprise Group Inc. said that 51 of the layoffs will come from Des Moines...
Parents of Iowa Teen Killed in Crash Sue Insurer for Underinsured Benefits
Feb 9 2009 // The parents of an Iowa teenager killed 10 years ago in a van crash in southern Wisconsin have filed a lawsuit seeking damages for their son’s death. Albert and Deanna Roberts of DeWitt, Iowa, filed the lawsuit...
Treasury to Approve TARP Bailout Funds for Life Insurance Companies
Feb 9 2009 // Insurance companies that applied for capital injections from the government’s $700 billion financial bailout fund could get approval as soon as Monday, two sources familiar with the matter said Saturday. Some...
North Carolina Auto Insurance Companies Seek 1.4% Hike
Feb 9 2009 // North Carolina Insurance Commissioner Wayne Goodwin has confirmed that his department has received the annual auto insurance rate filing from the North Carolina Rate Bureau. The bureau, which represents the auto insurance...
Swimming Downstream: How a Regional Insurer Buy Others Through Demutualization
Feb 8 2009 // Donegal Group’s Strategy Has Helped It Grow From Writing in 1 State to 19 in 20 Years Even in a good economy, mutual insurers face challenges trying to raise the capital they need to grow since they don’t have...
