Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Strength in Numbers and Cooperation
Feb 24 2008 // No. 4 on IJ’s Top 100, Keystone Insurers Group’s cooperative approach now thrives in five states Top 100 Agency Profile RANKING: No. 4 Keystone Insurers Group Headquarters: Northumberland, Pa. Year Founded:...
Navigate Policy Waters to Get Boat Owners the Right Type of Coverage
Feb 24 2008 // Boats are not just luxury items for the rich, but they are also items that families with less than extravagant incomes can enjoy together away from the distractions of everyday life. Whether the boat owner is wealthy, or a...
Insurers Testify in Support of Kan. Flex Rating Bill
Feb 22 2008 // The National Association of Mutual Insurance Companies (NAMIC) recently testififed before members of a Kansas Senate panel urging passage of rate modernization legislation. Senate Bill 560 would establish a flex rating...
IRS Agrees to Drop Captive Insurance Tax Change
Feb 21 2008 // The Internal Revenue Service (IRS) has dropped plans to change the way that captive insurance companies are taxed. U.S. Senator Patrick Leahy, D-Vt., and U.S. Rep. Peter Welch, D-Vt., said that the IRS informed them it has...
Meadowbrook to Acquire Specialty Insurer ProCentury in $273M Deal
Feb 21 2008 // Michigan-based Meadowbrook Insurance Group, Inc. reported it will acquire ProCentury Corp. in a transaction valued at approximately $272.6 million in cash and stock to be paid to ProCentury shareholders. Under the terms of...
Seattle Court Rules Failure to Disclose Pollution Incidents Voids Vessel Policy
Feb 21 2008 // The U.S. Ninth Circuit Court of Appeals in Seattle has upheld an Alaskan district court ruling that a primary insurance carrier can cancel a marine vessel’s pollution insurance policy on the basis that the insured...
Insurers Testify Against Wis. Zip Code Ban Proposal
Feb 20 2008 // The American Insurance Association (AIA) today testified against Wisconsin SB 348, a bill that would ban zip codes as an insurance rating factor, saying it is unfair and hides the real cost of insurance. “SB 348...
N.Y. Court: Insureds Can Sue For Consequential Damages
Feb 20 2008 // A new ruling by the New York Court of Appeals could open the door for breach of contract suits against commercial property insurers – a move two dissenting judges warned could raise the price of insurance for...
N.Y. Regulator to Weigh Split of FGIC’s Bond Insurance Business
Feb 19 2008 // New York regulators are eager to consider splitting Financial Guaranty Insurance Co.’s core bond insurance businesses to protect municipal credit ratings against costly downgrades and stem troubles in the debt...
Pa. Man Gets Probation for Helping to Bilk Insurance Company
Feb 19 2008 // A Pennsylvania man has been sentenced to three years’ probation for defrauding an insurance company with the help of a chiropractor. A federal judge in Pittsburgh also ordered 31-year-old Brandon Burns of Murrysville...
Two Colo. Insurers Refund $5.7M to Consumers
Feb 18 2008 // Two insurance companies have refunded about $5.7 million to Colorado customers affected by billing and record keeping errors, state officials said Thursday. Anthem Blue Cross Blue Shield has restored nearly $3.2 million to...
Association of British Insurers: Homes on Flood Sites ‘Unsaleable, Uninsurable, Uninhabitable’
Feb 15 2008 // The Association of British Insurers (ABI) warned that government plans to construct new homes on flood plains have not given sufficient consideration of the hazards involved. Justin Jacobs, the ABI’s Assistant...
New A.M. Best Reports Written to Help Consumers Evaluate Insurers
Feb 15 2008 // The insurance ratings organization A.M. Best Co. has released reports it says will help buyers of insurance learn about insurers’ rating histories and their financial strengths. These consumer-oriented reports —...
Conn. Exempts Some Insurers’ Form and Rate Filings
Feb 15 2008 // The Connecticut Insurance Department this month launched a year-long pilot program that will exempt some complicated commercial rate and form filings from being initially reviewed by the state – although insurers...
S&P Takes Rating Actions -‘Mostly Negative’- on U.S. Mortgage Insurers
Feb 15 2008 // Standard & Poor’s Ratings Services has issued a blanket bulletin outlining the rating actions, which it notes are “mostly unfavorable,” on several U.S. mortgage insurers and their core and dependent...
Neb. Medical Liability Insurer Adds Staff
Feb 14 2008 // Preferred Professional Insurance Co. (PPIC), an Omaha-based Catholic-owned medical liability insurance firm, recently announced two additions to its staff: Tricia Bliujus as claims analyst & risk consultant/R.N., and...
Accenture Solvency II Survey: Europe’s Insurers Expect Manageable Costs
Feb 12 2008 // According to findings from a recently released survey conducted by Accenture, “more than three-quarters of large European insurers expect to spend less than €25 million [$36.27 million] through 2012 on Solvency II...
Neb. Committee Holds Hearing on Proposal to Abolish Credit Law
Feb 12 2008 // A national insurance group testified today against a bill to abolish Nebraska’s law regulating credit-based insurance scoring saying the practice benefits a majority of Nebraska consumers. The Washington, D.C.-based...
S&P Finds Bermuda Insurers Face Rising Competition
Feb 11 2008 // Standard & Poor’s Ratings Services has published an article which states that Bermuda-domiciled insurance companies will face increasing competition from other regions of the world. The article –...
AIG Shares Fall as Insurer Reports Internal Audit Weakness
Feb 11 2008 // Giant international insurer American International Group Inc. saw its shares fall 11 percent today on its acknowledgement that it may have incorrectly valued the effect of the ongoing credit crisis in previous...
