Industry News
17 P/C Insolvencies, Only One Cat-Driven In 2012: A.M. Best
Only one of 17 property/casualty insurance carriers that became financially impaired in 2012 suffered its impairment as a result of catastrophe losses, according to a recent study by A.M. Best. ...Basel Cracks Down On Capital-Protection Ploy At Banks
Global regulators have proposed hefty charges to cancel out capital relief banks enjoy when buying pricey insurance to cover risky loans without acknowledging the cost in a timely way. The Basel ...
Individual P/C Carrier Results Lackluster, Despite Aggregate ’12 Improvement: Fitch
Although the aggregate operating results for a group of large publicly traded property/casualty insurers improved markedly in 2012 compared to 2011, individual carrier performance remains "below par" ...
Esurance, Walmart Team Up for Auto Insurance Discount Program
Esurance is launching a pilot program offering auto insurance discounts to customers at select Walmart stores in Illinois. Through the pilot program, drivers may obtain a savings card from Esurance ...Judge Awards Ohio Employers $860M For Overcharges
Ohio employers are collectively owed $860 million after being overcharged for nearly a decade by the state insurance fund for injured workers, a Cleveland judge ruled Wednesday. Cuyahoga County ...Many HO Policyholders Still Clueless On Flood Cover: Allstate
The perception that homeowners and renters do not understand that their homeowners insurance policies do not cover flood damage is a reality for nearly half of Americans, according to a survey ...Longer Routes Help Oil Tankers Mitigate Iran Sanctions
Oil tanker owners are cushioning the impact of Iranian trade restrictions by shipping crude over greater distances to some of Asia's biggest economies, the founder of Nordic American Tankers Ltd. ...Louisiana Commissioner Opposes $100M Citizens Insurance Borrowing Plan
Louisiana Insurance Commissioner Jim Donelon said it's premature for the state property insurer of last resort to borrow $100 million to help close a budget gap, according to a letter released March ...