Insurance Companies, Insured and Insurer - Insurance Industry Brief

Seibels Bruce, One of the South’s Oldest Insurance Companies, Closes its Doors

Insurance Journal

JANUARY 17, 2025

Two decades after its subsidiaries were deemed insolvent and 155 years after it was founded, one of the oldest insurance companies in the South has officially gone out of business. Seibels Bruce & Company’s 128,000-square-foot office building in Columbia, South …

Insurance Companies

Insurance Companies Building Insured Insurer

CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management

Property Insurance Coverage Law

SEPTEMBER 30, 2024

In a shocking exposé aired last night on CBS’s 60 Minutes, allegations of widespread insurance fraud by insurance companies following Hurricane Ian were exposed.

Insurance Companies

Insurance Companies Damage Claim Property Insurance

KBRA Downgrades Insurance Financial Strength Ratings of Oregon Mutual Insurance Company

Insurance Journal

NOVEMBER 20, 2024

KBRA downgraded the insurance financial strength ratings (IFSR) of Oregon Mutual Insurance Co. and its wholly owned subsidiary, Western Protectors Insurance Co. to BBB+ from A-. The outlooks for both ratings remain negative. The downgrades reflect the continued deterioration in …

Insurance Companies

Insurance Companies Insurer Insured Insurance

CITA Insurance Services and Ascot Insurance Company announce nationwide real estate agents and brokers errors & omissions program

Insurance Journal

NOVEMBER 7, 2024

ORANGE, CA, November 6, 2024 – CITA Insurance Services and Ascot Insurance Company (Ascot) have partnered to deliver a new real estate agents and brokers error & omissions (E&O) program nationwide. This admitted insurance product was designed to provide professional …

Broker-Agent

Broker-Agent Insurance Companies Broker Agents

People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO

Insurance Journal

JULY 19, 2024

Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO. Tribble has held a variety of positions during the past eight years with Church Mutual Insurance …

Liability Insurance

Liability Insurance Insurance Companies Liability Insurer

California Commissioner Orders Insurance Cancelation Moratorium for 185K Residents

Insurance Journal

AUGUST 8, 2024

California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …

Policyholder

Policyholder Insurer Insured Insurance

From the Plaintiffs’ View: Unintended Consequences of SB 426 on Georgia Insurance

Insurance Journal

AUGUST 5, 2024

For decades, Georgia’s insurance industry has sought to eliminate the long-standing provision allowing trucking-accident plaintiffs to sue insurance companies directly. This was the single most important issue the industry wanted to see addressed by lawmakers. Now, with the passage of …

Insurance Companies

Insurance Companies Insurance Industry Insurer Insured

Insurer Fortegra Launches Subsidiary in UK

Insurance Journal

DECEMBER 4, 2024

the Jacksonville, Florida-based specialty insurer and subsidiary of Tiptree Inc., announced it has received regulatory approval to launch a UK subsidiary, called Fortegra Insurance Company UK. The Fortegra Group Inc., The Prudential Regulation Authority (PRA) granted Fortegra UK the license, …

License

License Insurance Companies Insurer Insured

Outlooks Revised to Positive for Louisiana Workers’ Comp Insurer Stonetrust

Insurance Journal

JULY 31, 2024

AM Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Stonetrust Commercial Insurance Company and Stonetrust Premier Casualty Insurance Company. Stonetrust is …

Workers Comp

Workers Comp Casualty Insurance Commercial Insurance Commercial

Applied Systems Acquires AI Platform for Insurance Planck

Insurance Journal

JULY 23, 2024

Insurance software firm Applied Systems reports that it has acquired Planck, a leading artificial intelligence (AI) company for the insurance industry. Planck provides an AI-based data platform for commercial insurance. It works with US insurance companies, helping them streamline the …

Commercial Insurance

Commercial Insurance Commercial Insurance Industry Insurer

S&P Reveals Top 50 Largest P/C Insurers

Insurance Journal

OCTOBER 24, 2024

As the third-fastest growing company on a list of the world’s top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market Intelligence. State Farm recorded nearly $87.6 billion …

Insurer

Insurer Insured Insurance Insurance Companies

AM Best Downgrades Credit Rating of Iowa’s IMT Insurance

Insurance Journal

SEPTEMBER 4, 2024

AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of IMT Insurance Company and its affiliate, Wadena Insurance Company. These companies are domiciled in …

Insurance Companies

Insurance Companies Insurer Insured Insurance

The Façade of Consumer Protection: How Florida’s Political Leadership Continues to Favor Insurance Companies Over Policyholders — Are Florida’s Politicians in Bed with the Insurance Industry?

Property Insurance Coverage Law

OCTOBER 23, 2024

While Jimmy Patronis and Governor DeSantis trumpet their latest emergency rule as consumer protection following the CBS 60 Minutes Expose noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, the reality reveals a different story.

Policyholder

Policyholder Insurance Industry Insurance Companies Protection

Digital Transformation in Insurance Marketing: How to Leverage Technology to Drive Growth and Engagement

Insurance Journal

NOVEMBER 3, 2024

The insurance industry has historically been slow to adopt new technologies o often relying on traditional outreach, marketing and client management methods. However, digital transformation has taken hold across the sector in recent years, radically reshaping how insurance companies engage …

Insurance Industry

Insurance Industry Insurance Companies Insurer Insured

California Commissioner Orders Insurance Cancellation Moratorium for 750K Residents Following Wildfires

Insurance Journal

SEPTEMBER 19, 2024

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for 750,000 policyholders affected by the Airport, Bridge, and Line fires in the counties of Orange, Riverside, Los Angeles, and San Bernardino.

Policyholder

Policyholder Insurance Companies Insurer Insured

Florida’s Insurance Company Fraud Investigations: A Crisis of Public Trust (With a Side of Absurdity)

Property Insurance Coverage Law

SEPTEMBER 27, 2024

However, recent developments in Florida’s handling of insurance company fraud allegations have raised serious concerns about the efficacy of our regulatory bodies … The post Florida’s Insurance Company Fraud Investigations: A Crisis of Public Trust (With a Side of Absurdity) appeared first on Property Insurance Coverage Law Blog. (..)

Insurance Companies

Insurance Companies Policyholder Property Insurance Insurer

Ohio Man Sentenced in $229K Insurance Fraud Scheme

Insurance Journal

NOVEMBER 26, 2024

An Ohio man was sentenced to five years in prison and ordered to pay restitution for filing 24 fraudulent claims with multiple insurance companies, totaling more than $229,000, the Ohio Department of Insurance announced. Justin Mack, a native of Buffalo, …

Insured

Insured Insurer Insurance Insurance Companies

Elevating the Customer Experience: Innovations in the Insurance Industry

Insurance Journal

JULY 26, 2024

In today’s rapidly evolving digital landscape, customer experience is paramount across all industries, including insurance. While traditionally viewed as a transactional service, insurance companies increasingly recognize the significance of fostering … This post is part of a series sponsored by Dyad.

Insurance Industry

Insurance Industry Insurance Companies Insured Insurer

California Department of Insurance Moves Modeling Regulation Proposal Forward

Insurance Journal

NOVEMBER 18, 2024

The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by establishing coverage commitments from insurance companies …

Insurer

Insurer Insured Insurance Insurance Companies

Hurricane Milton Insured Loss Could Be $60 Billion, Similar to 2002’s Ian: RBC

Insurance Journal

OCTOBER 9, 2024

Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said. The Category 5 hurricane is due to …

Insurance Industry

Insurance Industry Insurance Companies Insurer Insured

AM Best Revises Outlooks to Negative for Farmers Insurance of Flemington

Insurance Journal

OCTOBER 2, 2024

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Farmers Insurance Company of Flemington. AM Best said the negative outlooks …

Insurance Companies

Insurance Companies Insured Insurer Insurance

Columbia Insurance to Transfer Personal Auto, Umbrella Books to Safeco

Insurance Journal

SEPTEMBER 26, 2024

Safeco Insurance, a Boston-based Liberty Mutual Insurance company, said it has entered into a book transfer agreement with Columbia Insurance Group, a Central and Midwest regional carrier. Under the agreement, mutual insurer Columbia will transfer its entire personal auto and …

Insurer

Insurer Insured Insurance Insurance Companies

North Carolina School Principal Charged With Pet Insurance Fraud

Insurance Journal

DECEMBER 9, 2024

A North Carolina elementary school principal and a Cape Hatteras man were arrested last week and charged with insurance fraud after authorities said they attempted to make false claims to their insurance companies. Robert Grayson Dail, 35, of Gibsonville, principal …

Insurer

Insurer Insured Insurance Insurance Companies

Pennsylvania Shaved $98 Million Off Insurer Rate Requests in First Half of Year

Insurance Journal

JULY 22, 2024

The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of insurance company rate filings. The vast majority …

Casualty Insurance

Casualty Insurance Premium Insurance Companies Insurer

Kansas Commissioner: Add Insurance to Back-to-School Checklist

Insurance Journal

AUGUST 12, 2024

As students across Kansas prepare to return to the classroom, Kansas Insurance Commissioner Vicki Schmidt reminds students and parents to add insurance to their back-to-school checklist. “Many insurance companies offer products and discounts geared toward students and their particular needs,” …

Insurance Companies

Insurance Companies Insurer Insured Insurance

Federal Court Says Lindberg and Firms Must Pay $167M to Defunct Dutch Insurer

Insurance Journal

AUGUST 12, 2024

Former insurance executive Greg Lindberg, now awaiting sentencing in a North Carolina bribery conviction, and his companies must pay almost $167 million to an insolvent life insurance company in the Netherlands, a federal judge decided last week. “There is nothing …

Life Insurance

Life Insurance Insurance Companies Insurer Insured

Can Insurance Companies Sue Public Adjusters for Not Being Licensed or Not Having a Valid Contract?

Property Insurance Coverage Law

DECEMBER 12, 2024

MAPFRE Insurance Company has filed a fascinating complaint 1 against an allegedly unlicensed public adjuster license and company … The post Can Insurance Companies Sue Public Adjusters for Not Being Licensed or Not Having a Valid Contract? appeared first on Property Insurance Coverage Law Blog.

License

License Insurance Companies Policyholder Property Insurance

Finland’s Sampo Secures Deal for Danish Insurer Topdanmark

Insurance Journal

SEPTEMBER 10, 2024

Finland’s Sampo Oyj succeeded in pushing through an offer for Topdanmark A/S in its second attempt to gain control of the Danish insurer. The Finnish insurance company raised its holding in Topdanmark to about 92.6% of shares, based on a …

Insurance Companies

Insurance Companies Insured Insurer Insurance

Edison Denies LA Wildfire Involvement as Insurers Ask It to Preserve Evidence

Insurance Journal

JANUARY 10, 2025

Southern California Edison said on Thursday it had received notices from insurance companies to preserve evidence related to the Eaton Fire that is still burning in Los Angeles, but said no fire agencies have pointed the utility’s connection to the …

Insurance Companies

Insurance Companies Insured Insurer Insurance

Unite and Conquer: How the Insurance Industry Can Deflate Social Inflation

Insurance Journal

NOVEMBER 27, 2024

At one of the early meetings of American Legal Connections, Rich Henderson, a senior vice president for reinsurer TransRe, bumped into a concerned client from a hospital insurance company who brought his team members to the event. The insurer was …

Insurance Industry

Insurance Industry Insurance Companies Insurer Insured

Texas Pharmacy Owner Sentenced in $41M Health Insurance Fraud

Insurance Journal

OCTOBER 31, 2024

A Dallas pharmacy owner who routinely billed insurance companies for headache sprays, pain creams, and scar creams never dispersed to patients was sentenced last week to 10 years in federal prison, announced U.S. Attorney for the Northern District of Texas …

Insurance Companies

Insurance Companies Insurer Insured Insurance

Loss Control Tips to Protect Tow Truck Insurance Companies from Costly Claims

Central Insurance

DECEMBER 25, 2024

Learn essential loss control strategies to protect tow truck insurance companies from costly claims. The post Loss Control Tips to Protect Tow Truck Insurance Companies from Costly Claims appeared first on Central Insurance Blog. Explore safety tips, training, and maintenance to minimize risks.

Insurance Companies

Insurance Companies Protection Claim Insurer

Insurers’ Climate Losses Almost Match Premiums From Fossil Fuels

Insurance Journal

DECEMBER 10, 2024

Top insurance companies suffered $10.6 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Of the 28 insurers reviewed, more than … billion of climate-attributed losses this year, just shy of the $11.3

Premium

Premium Commercial Insurer Insured

Judge Bars Insurers From Going After Defendants Who Agreed to $4B Maui Wildfire Settlement

Insurance Journal

AUGUST 15, 2024

A Maui judge’s ruling resolves a critical roadblock to finalizing a $4 billion wildfire settlement: Insurance companies who have paid out more than $2 billion in claims can seek reimbursement only from the settlement amount defendants, who victims blame for …

Insurance Companies

Insurance Companies Claim Insurer Insured

Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation

Insurance Journal

JULY 29, 2024

Three months after Tyco Fire Products agreed to pay $750 million to communities with groundwater affected by so-called “forever chemicals” found in fire-stopping foam, Tyco has reached a tentative settlement with one of its insurance companies. “…We write jointly on …

Insurance Companies

Insurance Companies Insured Insurer Insurance

Insurers Settle With Hotel in Case of Woman Videotaped in the Shower

Insurance Journal

JULY 18, 2024

Four insurance companies, unable to escape a duty to defend a New York hotel where a young woman was secretly videotaped in the shower in 2015, have reached a settlement in the case that made headlines around the world. Citizens …

Insurance Companies

Insurance Companies Insured Insurer Insurance

AM Best Downgrades Credit Ratings of Texas Farm Bureau Casualty Insurance Co.

Insurance Journal

SEPTEMBER 18, 2024

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas Farm Bureau Casualty Insurance Company and its affiliates, Farm …

Casualty Insurance

Casualty Insurance Insurance Companies Insured Insurer

California Insurance Commissioner Orders 1-Year Moratorium on Cancellations for Wildfire Victims

Insurance Journal

NOVEMBER 11, 2024

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 11,000 policyholders affected by the Shelly Fire located in Siskiyou County and the Bear Fire located in Sierra County.

Policyholder

Policyholder Insurance Companies Insurer Insured

3rd-Party Litigation Funding, Federal Regs Among Insurance Trades’ Priorities for 2024

Insurance Journal

DECEMBER 26, 2024

Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2025? Sampson, president and CEO, American Property Casualty Insurers … Here are the responses we received: David A.

Casualty Insurance

Casualty Insurance Insurer Insured Insurance

How a Perfect Storm Sent Church Insurance Rates Skyrocketing

Insurance Journal

JULY 25, 2024

Church Mutual, the church’s insurance company, had dropped them. John Parks was taking his first sabbatical in 40 years of ministry when he got a call from his church’s accountant with some bad news. “This does not make …

Insurance Companies

Insurance Companies Insurer Insured Insurance

AM Best Withdraws Credit Rating of Farmers Mutual Insurance Co. of Michigan

Insurance Journal

OCTOBER 4, 2024

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term ICR of “b+” (Marginal) of Farmers Mutual Insurance Company …

Insurance Companies

Insurance Companies Insured Insurer Insurance

Offshore Driller Asks Judge to Block Insurers’ Demands for $250M Collateral

Insurance Journal

DECEMBER 12, 2024

Gulf of Mexico, has asked a federal judge to block insurance companies’ demands for $250 million in additional collateral for taking apart old oil infrastructure. W&T Offshore, an independent driller operating in the U.S. The offshore drilling industry faces mounting …

Insurance Companies

Insurance Companies Insured Insurer Insurance

Insurer Not Liable if Bank Improperly Cashes Insurance Check, Appeals Court Finds

Insurance Journal

OCTOBER 31, 2024

Insurance carriers are not responsible if a bank improperly cashes a check made out to two insureds and gives the proceeds to only one of them, a federal appeals court decided this week. 11th Circuit Court of Appeals …

Insurance Carrier

Insurance Carrier Insurer Insured Insurance

When Do Insurance Company Lobbyists and Trade Association Supporters Lie About Insurance Fraud Statistics? Every Time They Say or Write Anything

Property Insurance Coverage Law

NOVEMBER 20, 2024

For example, the Coalition Against … The post When Do Insurance Company Lobbyists and Trade Association Supporters Lie About Insurance Fraud Statistics? Every Time They Say or Write Anything appeared first on Property Insurance Coverage Law Blog. billion figure that concludes it is pure misinformation.

Insurance Companies

Insurance Companies Property Insurance Insurer Insured

Seibels Bruce, One of the South’s Oldest Insurance Companies, Closes its Doors

CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management

Trending Sources

KBRA Downgrades Insurance Financial Strength Ratings of Oregon Mutual Insurance Company

CITA Insurance Services and Ascot Insurance Company announce nationwide real estate agents and brokers errors & omissions program

People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO

California Commissioner Orders Insurance Cancelation Moratorium for 185K Residents

From the Plaintiffs’ View: Unintended Consequences of SB 426 on Georgia Insurance

Insurer Fortegra Launches Subsidiary in UK

Outlooks Revised to Positive for Louisiana Workers’ Comp Insurer Stonetrust

Applied Systems Acquires AI Platform for Insurance Planck

S&P Reveals Top 50 Largest P/C Insurers

AM Best Downgrades Credit Rating of Iowa’s IMT Insurance

The Façade of Consumer Protection: How Florida’s Political Leadership Continues to Favor Insurance Companies Over Policyholders — Are Florida’s Politicians in Bed with the Insurance Industry?

Digital Transformation in Insurance Marketing: How to Leverage Technology to Drive Growth and Engagement

California Commissioner Orders Insurance Cancellation Moratorium for 750K Residents Following Wildfires

Florida’s Insurance Company Fraud Investigations: A Crisis of Public Trust (With a Side of Absurdity)

Ohio Man Sentenced in $229K Insurance Fraud Scheme

Elevating the Customer Experience: Innovations in the Insurance Industry

California Department of Insurance Moves Modeling Regulation Proposal Forward

Hurricane Milton Insured Loss Could Be $60 Billion, Similar to 2002’s Ian: RBC

AM Best Revises Outlooks to Negative for Farmers Insurance of Flemington

Columbia Insurance to Transfer Personal Auto, Umbrella Books to Safeco

North Carolina School Principal Charged With Pet Insurance Fraud

Pennsylvania Shaved $98 Million Off Insurer Rate Requests in First Half of Year

Kansas Commissioner: Add Insurance to Back-to-School Checklist

Federal Court Says Lindberg and Firms Must Pay $167M to Defunct Dutch Insurer

Can Insurance Companies Sue Public Adjusters for Not Being Licensed or Not Having a Valid Contract?

Finland’s Sampo Secures Deal for Danish Insurer Topdanmark

Edison Denies LA Wildfire Involvement as Insurers Ask It to Preserve Evidence

Unite and Conquer: How the Insurance Industry Can Deflate Social Inflation

Texas Pharmacy Owner Sentenced in $41M Health Insurance Fraud

Loss Control Tips to Protect Tow Truck Insurance Companies from Costly Claims

Insurers’ Climate Losses Almost Match Premiums From Fossil Fuels

Judge Bars Insurers From Going After Defendants Who Agreed to $4B Maui Wildfire Settlement

Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation

Insurers Settle With Hotel in Case of Woman Videotaped in the Shower

AM Best Downgrades Credit Ratings of Texas Farm Bureau Casualty Insurance Co.

California Insurance Commissioner Orders 1-Year Moratorium on Cancellations for Wildfire Victims

3rd-Party Litigation Funding, Federal Regs Among Insurance Trades’ Priorities for 2024

How a Perfect Storm Sent Church Insurance Rates Skyrocketing

AM Best Withdraws Credit Rating of Farmers Mutual Insurance Co. of Michigan

Offshore Driller Asks Judge to Block Insurers’ Demands for $250M Collateral

Insurer Not Liable if Bank Improperly Cashes Insurance Check, Appeals Court Finds

When Do Insurance Company Lobbyists and Trade Association Supporters Lie About Insurance Fraud Statistics? Every Time They Say or Write Anything

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