President Barack Obama’s top health official is vowing “zero tolerance” for insurers that blame premium increases on the new health overhaul law. In a strong letter to the insurance lobby, HHS Sec. Kathleen Sebelius said she’s putting companies on notice …
The growing complexity of reinsurance markets in recent years has increased demands on reinsurance buyers and radically transformed the industry, says Towers Watson. Changes such as complex market data, Solvency II implementation, the dual challenges of accessing risk and distributing …
The Oregon Insurance Division has issued a bulletin to clarify the use of consumer credit information for personal insurance policies. According to the Department of Consumer and Business Services, Senate Bill 377 passed in the 2009 Legislative session, expanding the …
Florida released a report yesterday listing the market share and earnings of accident and health insurers, and Blue Cross and Blue Shield of Florida, Inc. ranked first in premiums earned, with $3.9 billion in direct premiums earned in 2009. Despite …
In the entire state of Louisiana, there are only 16 of them, and they want business. They are certified wind inspectors, and for $150 to $200 they say they can knock hundreds of dollars off homeowners’ annual insurance premiums. “I …
Standard & Poor’s Ratings Services has assigned its ‘BBB+’ senior debt rating to Aon Corp.’s three tranches of recently priced senior debt issues. S&P said it expects that Aon will use the net proceeds from the issues in lieu of …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the life/health and property/casualty operating subsidiaries of Colonial Group International Ltd. The outlook for all ratings is stable. Colonial …
With a letter sent out a few weeks ago, Explorer Insurance announced that it will no longer write private automobile policies in Florida because there is too much fraud. “The company is taking this action in light of poor ongoing …
A special report from A.M. Best concludes that “robust earnings reports mask challenges ahead for the global reinsurance industry: a convergence of market pressures, low interest rates and tightening financial and market regulations that could impact the industry’s capital. “These …
PartnerRe Ltd. announced that its Board of Directors has approved a new share repurchase authorization up to a total of 7 million common shares, effective immediately. “This replaces the prior authorization of 8 million common shares announced by the Company …
