Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
S&P Foresees ‘Tough Times’ for Russian Insurers In 2009-2010
Feb 4 2009 // A report from Standard & Poor’s Ratings Services entitled, “Tough Times Will Challenge Russian Insurers In 2009-2010”, published on its RatingsDirect web site, concludes that “Russia’s...
Michigan Blue Cross Wins Battle Over Workers’ Compensation Business
Feb 4 2009 // Michigan Attorney General Mike Cox is not giving up in his battle and will appeal a judge’s ruling in support of Blue Cross Blue Shield of Michigan’s ownership of workers’ compensation insurance...
State Farm Rejects Call to Let Florida Agents Represent Other Insurers
Feb 4 2009 // Florida Chief Financial Officer Alex Sink is urging State Farm Florida to “immediately” let its agents do business with other insurance companies for their more than one million policyholders now that State...
Illinois Court Denies Insurer Claim That Boys’ Deaths Were Single Event
Feb 4 2009 // The accidental deaths of two teenage boys at an excavation site in 1997 were separate occurrences under the liability insurance policy of the property owner, the Illinois Supreme Court has ruled in reinstating a $2 million...
<em>AP</em> Analysis: Florida Insurance Bind Overshadows Louisiana
Feb 3 2009 // Louisiana homeowners stunned by their rising insurance rates should remember that it could be worse. They could live in Florida. State Farm announced recently that it will stop doing business in Florida, the first big firm...
Best’s Solvency II Analysis Concludes Financial Crisis Impacts Insurers
Feb 2 2009 // A report from A.M. Best examines the latest twists and turns of the European Union’s much discussed (and long delayed) implementation of the Solvency II regulations. Best notes that the “current turmoil in the...
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...
