Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Medical Liability Insurer Proassurance Buys Houston’s Mid-Continent Agency
Dec 16 2008 // Birmingham ,Ala.-based ProAssurance Corp. said it will acquire Mid-Continent General Agency for an undisclosed price. Mid-Continent is a managing general agent, based in Houston, producing about $25 million a year in...
S&P: Challenging Times Loom For U.S. Insurers in 2009
Dec 15 2008 // The deteriorating U.S. economy – with its waves of layoffs, dislocations in the credit and equity markets, and falling home prices – will present a challenge in 2009 for almost every domestic business sector,...
Massachusetts Bill Would Shield Military from Predatory Insurers
Dec 15 2008 // A bill on Gov. Deval Patrick’s desk would require the state to toughen regulations on predatory insurers who target members of the military in Massachusetts. The bill would require the state Commissioner of Insurance...
Insurers’ Backing Sought for Car Key That Jams Teen Drivers’ Cell Phones
Dec 12 2008 // University of Utah researchers have developed an automobile ignition key that prevents teenagers from talking on cell phones or sending text messages while driving. The inventors are hoping the insurance industry will back...
California Workers’ Comp Insurers to Raise Rates
Dec 11 2008 // The California Department of Insurance has approved rate increases for several workers’ compensation insurers. California Insurance Commissioner Steve Poizner had recommended a 5 percent increase in his rate...
As Domestic Insurers Multiply, Industry Applauds Florida’s Licensing
Dec 11 2008 // Florida’s domestic insurers continue to take on a larger and larger role in the state’s property insurance market. The latest data from Florida’s Office of Insurance Regulation show the domestic market...
Insiders Say AIG Slashing Prices to Win Business in Moves That May Burn Rivals, Taxpayers
Dec 11 2008 // American International Group Inc. is cutting prices to win new business and boost market share, competitors and others in the industry say, but taxpayers could again be stuck with the tab. Since a U.S. government bailout,...
Insurers Seek Cut in Florida Hurricane Fund Charges to Reflect Reality
Dec 10 2008 // Property/casualty insurers in Florida believe they are being overcharged for coverage from the state’s hurricane fund and some of them are looking for a refund. Insurers contend that the state fund is only...
Nebraska Businessman Accused of Fraud Sues Insurance Company
Dec 10 2008 // An Omaha, Neb. businessman who’s facing several lawsuits accusing him of fraud has filed his own lawsuit. Bryan Behrens is suing Kansas City, Mo.-based Arch Insurance Co. saying it’s responsible for his defense...
Swiss Re Sees ‘Severe Recession;’ Insurers Should Preserve Capital
Dec 10 2008 // At their most recent conference in London, Swiss Re’s economists predicted a “severe recession until mid 2009 in industrialized economies, including the United States and Europe.” They also expect that...
New York Insurers Object to $140M in ‘Back-Door Taxes’
Dec 10 2008 // A trade group for insurers in New York State says its members strongly oppose $140 million in new assessments on insurance companies proposed by Gov. David Paterson. Those increases, according to the New York Insurance...
Hawaii Compares Auto Insurance Rates, Carriers’ Complaint Ratios
Dec 9 2008 // The Hawaii Department of Commerce and Consumer Affairs Insurance Division has published motor vehicle insurance premium comparisons for all islands, as well as published customer complaint ratios for carriers in the...
Five Firms Vying for AIG Japan Units
Dec 9 2008 // Prudential Financial Inc., Manulife Financial Corp. and three other firms are expected to place competing bids for two Japanese life insurers put up for sale by American International Group Inc, people familiar with the...
Georgia: No Single Formula for Insurers Handling Diminished Value Claims
Dec 9 2008 // Georgia Insurance Commissioner John W. Oxendine has issued a directive informing automobile insurance companies in Georgia about the proper handling of diminished value claims. Oxendine ordered all auto insurance companies...
S&P Warns of ‘Multi-Notch Downgrades’ on 5 Mortgage Insurers
Dec 8 2008 // Standard & Poor’s Ratings Services announced that it has placed its ratings on five major U.S. mortgage insurers and their core and dependent foreign subsidiaries on CreditWatch with negative implications. These...
Number of Complaints Against Insurers Continues to Drop in Texas
Dec 8 2008 // For the fifth year in a row Texas consumers filed fewer complaints against their insurance companies with the Texas Department of Insurance (TDI), the Insurance Council of Texas reported. The total number of closed...
Kentucky County’s Insurer Pays $2.1 Million to Settle Crash Suit
Dec 8 2008 // Garrard County’s insurance company has paid $2.1 million to the estate of a central Kentucky man killed in a fiery car crash involving a former a county employee. The Advocate-Messenger reports the lawsuit was filed...
North Carolina Insurers Seeks 19.5% Statewide Home Insurance Rate Hike
Dec 5 2008 // North Carolina homeowners insurers are seeking an average 19.5 percent statewide rate hike which, if approved, would be the first rate hike since 2006. The proposal, being finalized this week by the North Carolina Rate...
Ex-CEO Greenberg: AIG Needs Unified Plan Quickly to Recover
Dec 5 2008 // Former American International Group Inc. CEO Maurice “Hank” Greenberg said the insurer could fall apart unless management quickly came up with a unified recovery plan. “You can’t hold (together) an...
New York Insurers’ Group Elects Officers and Directors
Dec 4 2008 // The New York Insurance Association recently elected officers and directors for the group, a trade association for property/casualty insurers. New officers who will serve one-year terms are Cecilia Norat, American...
