Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Connecticut Announces Its 10th Captive Insurer
Feb 12 2016 // The Connecticut Insurance Department announced that a Syosset, New York-based construction services firm, RC Structures, is establishing its captive insurance operations in Connecticut. The new captive, called RCX...
Bankruptcy Would Be ‘Huge Mistake’ for Puerto Rico, Says Bond Insurer
Feb 12 2016 // The question of whether bankruptcy is a good option for Puerto Rico came to a head at an investor conference featuring the island’s top restructuring adviser and head of one of the bond insurers with the most...
Activists Icahn, Paulson Land Seats on AIG Board; Now What?
Feb 12 2016 // John Paulson and Carl Icahn, who became billionaires by identifying mispriced securities and pushing for corporate shakeups, face a new challenge after winning seats on the board of American International Group Inc., the...
NTSB Blames Poor Oversight in Deadly Illinois Truck Crash
Feb 11 2016 // Failed safety oversight was partly to blame for a deadly crash near Chicago in which a truck driver for a company already flagged as high-risk fell asleep and plowed into emergency vehicles, a federal accident...
Energy Insurers Become Latest Casualty of Oil Slump as Projects Are Postponed
Feb 11 2016 // The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Insurers...
Suspension of Insurance Carrier Lifted in Alaska, Oregon
Feb 9 2016 // Insurance regulators in Alaska and Oregon announced that a company that had been suspended from offering health insurance policies in the states over concerns with its financial condition will be allowed to resume that...
N.J. Neurologist Accused of Filing Fraudulent Bills to Insurers
Feb 9 2016 // Authorities announced that a North Jersey doctor has been indicted for allegedly billing numerous insurance carriers for medical procedures he did not perform himself or that were not performed at all. New Jersey Acting...
Missouri Insurance Regulators Recover Millions for Consumers, Schools in 2015
Feb 9 2016 // The Missouri Department of Insurance announced it helped to obtain millions of dollars for citizens and schools in 2015 through regulatory intervention and penalties against insurance companies. The department also worked...
Leading Reinsurers Line Up for Lemonade, the P2P Insurer
Feb 9 2016 // Lemonade, the startup peer-to-peer insurance carrier that has raised $13 million in initial funding, announced a line-up of global reinsurance partners, including Berkshire Hathaway and leading Lloyd’s of London...
Court Hears MetLife’s Challenge to ‘Too-Big-to-Fail’ Designation This Week
Feb 9 2016 // For MetLife Inc. Chief Executive Officer Steve Kandarian, the scariest risk is being classified as risky. MetLife lawyers go to court Wednesday seeking to overturn a too-big-to-fail designation in a lawsuit that could, if...
Florida Fights Back Against Assignment of Benefits Abuse
Feb 8 2016 // Florida insurers, consumer and insurance advocates, as well as regulators, are hoping 2016 may finally be the year that legislators address the misuse of assignment of benefits (AOB) for water loss claims that they say has...
Special Purpose Captive Insurer OK’d in Arkansas
Feb 8 2016 // Diamond Risk Insurance LLC, a wholly-owned subsidiary of Baptist Health, has been approved as a captive insurer by the Arkansas Insurance Department. Arkansas Insurance Commissioner Allen Kerr said Baptist Health is the...
10 Trends in U.S. Casualty Markets in 2016: Marsh
Feb 8 2016 // The sharing economy, expanded litigation, surplus capital, custom account underwriting and further consolidation are likely to challenge the U.S. casualty insurance marketplace in 2016, according to broker Marsh. Marsh...
Ghost of 2008 Crash Still Haunts Real Estate E&O
Feb 8 2016 // The ghost of the 2008 financial collapse still haunts the liability insurance market for real estate professionals and some are worried the business may be headed for a replay of that crisis. While it is still recovering...
New Jersey Manufacturers Insurance Co. Ratings Downgraded a Notch
Feb 5 2016 // New Jersey Manufacturers Insurance Company’s stellar financial strength rating has been downgraded a notch by A.M. Best, based on concerns about its underwriting and operating performance. The workers’...
P/C Insurer Results: Profit Inched Up in First 9 Months of 2015
Feb 5 2016 // Private U.S. property/casualty insurers’ net income after taxes grew to $44.0 billion in the first nine months of 2015 from $37.8 billion in nine-months 2014, with insurers’ overall profitability as measured by...
California Commissioner Explains Call for Insurer Divestment from Coal
Feb 4 2016 // One can say California Insurance Commissioner Dave Jones has a beef with coal. Jones made a bold move on Jan. 25 when he asked all insurance companies doing business in California to voluntarily divest from their...
Oklahoma Files Suit Against Directors, Officers of Failed Insurer, Red Rock
Feb 3 2016 // Oklahoma insurance regulators have filed suit against two New York financiers who took control of a failed Oklahoma insurance company, saying the pair and others infused it with allegedly worthless assets and used it as a...
The Right Property Data Helps Better Serve Consumers
Feb 3 2016 // This post is part of a series sponsored by CoreLogic. Why doesn’t the carrier already have property data on this home? Is this quote accurate or will I have to go back to the homeowner with a revision? Every agent...
International Insurers Still Reluctant to Provide Cover for Iran Oil Cargoes
Feb 3 2016 // Oil companies looking to steal a jump on rivals in the race to benefit from Iran’s emergence from Western sanctions risk having tankers left in limbo by international insurers’ continued reluctance to provide...
