Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Marine Insurance Group Sees ‘Tough Times’ for Insurers
Feb 2 2009 // According to Deirdre Littlefield, president of the International Union of Marine Insurance (IUMI), “While the insurance industry may be more insulated from failure than others in the financial sector, it will not...
Insurers Seek Dismissal of Louisiana Road Home Suit
Feb 2 2009 // Lawyers for major insurance companies are asking a federal judge to dismiss a lawsuit that accuses insurers of trying to profit from a grant program for homeowners devastated by Hurricane Katrina. U.S. District Judge...
State Regulators Deny Life Insurers’ Bid for Looser Capital Requirements
Jan 30 2009 // State insurance regulators voted against a proposal to loosen capital requirements for the battered life insurance industry, shooting down hopes for up to $30 billion in relief. The National Association of Insurance...
Association of British Insurers Faults Competition Commission on PPI
Jan 29 2009 // Nick Starling, the Director of General Insurance and Health of the Association of British Insurers (ABI), issued the following comment on the publication of the Competition Commission’s final remedies on Payment...
Best Affirms Nationwide Group ‘A+’ Ratings, Changes Outlook to Negative
Jan 29 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Nationwide Group and its...
Wisconsin Court Sides with Insurer on Underinsured Motorist Coverage
Jan 28 2009 // The Wisconsin Supreme Court has ruled in favor of the insurance company in a closely-watched case involving a farmer’s business auto policy and whether its underinsured motorists endorsement applies to a family...
Insurance in Times of Financial Crisis
Jan 28 2009 // The current financial crisis affects almost every aspect of our business life. That includes insurance. Businesses need to be wise consumers and aware of the legal issues covered by their coverages. Let’s take a look...
Aon Insurer Survey Confirms Desire to Increase UK Commercial Premiums
Jan 28 2009 // According to the Aon’s newly launched “Market Pulse,” underwriters expect motor [auto] insurance premiums for UK companies to increase in the first quarter of 2009. Aon said its new quarterly index...
Marine Insurers Face ‘Shipping Slump’- International Union of Marine Insurance
Jan 28 2009 // “The marine insurance industry is facing one of the most crucial periods it has ever met, and underwriters, given the devastating fall in volumes and values in global trade, will have to ‘run hard to stay in...
Insurers Oppose North Dakota Bill to Ban Use of Credit Scoring
Jan 27 2009 // Property/casualty insuerrs are urging North Dakota lawmakers to defeat a bill that would preclude their use of credit scoring in calculating insurance premiums. The North Dakota Senate Industry, Business & Labor...
State Farm Pulling Out of Florida Property Insurance Market
Jan 27 2009 // Florida is losing its largest property insurance company. State Farm Florida Insurance announced today it is beginning the process that will allow it to non-renew policies and halt all sales of homeowners or other...
Wisconsin Verdict Against Insurers on Fox River Pollution Upheld
Jan 26 2009 // A jury verdict that nine insurance companies are liable for costs of cleaning up PCB pollution of the lower Fox River in Wisconsin has been upheld by a Brown County judge. The jury had found that the insurance firms were...
Study: Recession Pressuring Middle Market to Value Price Over Service
Jan 26 2009 // As the U.S. economic slowdown deepens, middle-market companies are reassessing their relationships with insurance brokers and adopting a more bottom-line approach to securing insurance coverage. Historically, middle-market...
Insurance in Times of Financial Crisis
Jan 25 2009 // Fiduciary liability typically involves an employee suing an employer for not offering employee options for investing in a 401K plan, and the law weighs heavily in favor of the employee in these cases. The current financial...
Domestic Insurers Winning Florida Homeowners Market
Jan 25 2009 // Since 2006, About 25 New Home-Based Insurers Have Been Launched as Part of the Domestc Market Resurgence While large national insurers are downsizing in Florida, more home-based insurers are bulking up on the state’s...
Florida Panel Backs Rate Hikes, Stricter Rules for Citizens
Jan 25 2009 // A special task force is recommending that Florida’s state-backed property insurer, Citizens Property Insurance, be permitted to raise its rates beginning in 2010 and that restrictions on what homeowners it can insure...
California Appeals Court Reverses Pollution Liability Decision
Jan 25 2009 // The 4th District of the California Court of Appeals has reversed a lower court decision in a pollution liability case, State of California v. Continental Insurance Co. et al. The decision is likely to influence courts...
Montana Bill Suggests Implementing Fire-Safety Incentives
Jan 25 2009 // Spending to stomp out wildfires could be reduced by training and rewarding homeowners to practice fire-safety defense, Montana lawmakers said, as they presented several bills intended to cut costs. The bills could force...
Madoff Scandal to Cost Insurers $1.8 Billion, Aon Benfield Estimates
Jan 25 2009 // While the maximum potential exposed insurance limits resulting from the alleged Bernard Madoff Ponzi scheme are estimated to be above $6 billion, the range of direct insured losses will be a far smaller number, most likely...
London’s Reach Bolsters U.S. Specialty Lines
Jan 25 2009 // Insurers Catlin, Beazley, Amlin, Hiscox and Newcomer Torus Find Their Niche in U.S. Market Find a need, then fill it,” is a hoary business principle, but making it work is often harder than it looks. However, a...
