Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Texas Senate Approves Insurance Department ‘Sunset’ Bill
Apr 21 2009 // The Texas Senate has approved a measure that allows the continued operation of the Texas Department of Insurance, but would slightly reform its operations, according to a Senate new release. The bill’s author Senator...
A.M. Best Calls AIU Vehicle ‘Positive First Step’ in AIG Insurance Rebranding
Apr 21 2009 // Rating organization A.M. Best Co. reported that its ratings and outlook of the property/ casualty subsidiaries of American International Group, Inc. (AIG) remain unchanged following the company’s announcement of the...
New York Wants Allstate Info on Credit Default-Swaps
Apr 20 2009 // The New York state Insurance Department said it wants information from Allstate Corp. on its participation in unregulated insurance markets. The agency also said Allstate officials must report anything they know about...
Texas High Court Rules Against Insurer in Fleeing Truck Case
Apr 20 2009 // The Texas Supreme Court has ruled that an insurance company must pay a family’s claim over a child critically injured by a truck that was fleeing from police. The child’s parents, Greg and Maribel Tanner, sued...
Judge Blocks Michigan’s Challenge to Insurers’ Use of Credit Scores
Apr 20 2009 // Barry County Circuit Judge James Fisher issued an injunction April 10 preventing Michigan insurance regulators from challenging insurers’ home and auto insurance rate filings that use credit scoring in determining...
Medical Liability Claims-Made Policies
Apr 20 2009 // Challenges to the Notice Requirement Medical malpractice liability insurance policies, like most professional liability insurance policies, are typically “claims-made” policies. While there are variations,...
Examinations Under Oath: The Basics
Apr 20 2009 // Understanding the Rights and Obligations Imposed on the Insured One of the most powerful tools available to an insurer in adjusting first-party property claims is the right to examine the insured under oath (EUO). Thus, it...
Somali Pirates Step up Attacks; Exemption Renewal for Europe’s Insurers
Apr 20 2009 // Pirates have stepped up their attacks on shipping in the Gulf of Aden and the Indian Ocean. In three days (April 6-8) the marine marauders, based in Somalia, seized four cargo ships and a French yacht (See IJ Web site...
Special Delivery: Added Value with Cargo Insurance
Apr 20 2009 // As Cargo Theft Rises, Carriers’ Special Investigative Units Offer Relief A driver pulls into a truck stop, heads inside to shower and eat — and then discovers his fully loaded trailer gone when he returns. A...
Frequency Down but Severity Still a Problem for Medical Liability Insurers
Apr 20 2009 // Like just about any company anywhere on earth, medical liability insurers lost money on their equity investments in 2008 due to the meltdown in the U.S. and worldwide economies in the latter half of the year. However, for...
P/C Insurers Profitable in 2008 Despite Big Hits From Catastrophes, Financial Crisis
Apr 20 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
Get in Touch with Gen Y
Apr 20 2009 // Why the Modern Workplace Is Important for the Next Generation of Professionals Today’s senior ranks of insurance professionals are retiring at the pace of approximately one every 10 minutes, taking a wealth of...
Insurers Violated Maryland Regulations
Apr 17 2009 // A year-long investigation by the Maryland Insurance Administration has found that 67 of the state’s 119 car insurers underpaid claims, Commissioner Ralph S. Tyler said State regulators have fined the companies a...
Insurer Holds Naming Contest for Steer with Michigan Patterned Hide
Apr 17 2009 // An insurance company in Michigan is holding a contest to name a steer it saved from someone’s dinner table because of its unique hide. The pattern on one of its sides resembles Michigan’s Lower...
Colorado Senate Votes to Take $500 Million from Workers’ Comp Insurer
Apr 15 2009 // The Colorado Senate has backed two measures aimed at taking $500 million from a state-created workers compensation insurance company to balance next year’s budget over the objections of Pinnacol Assurance and the...
Consumer Advocates Watching How Insurers Treat Credit in Recession
Apr 13 2009 // With consumers’ credit scores dropping as lenders tighten credit terms, insurance consumer advocates are stepping up their criticism of the use of credit scores by insurance companies. They are also warning insurers...
Weakened Life Insurers May Get Federal Aid
Apr 10 2009 // U.S. life insurers, already weakened by the global financial crisis, are expected to report their worst-ever quarterly results in the coming weeks, stoking expectations that federal funds will be needed to prevent the...
Willis Offers Counterparty Risk Monitoring to Gauge Insurer Stability
Apr 10 2009 // “Recent insurer downgrades and financial woes have raised the level of counterparty risk to buyers who are becoming increasingly concerned that their insurers may not pay out on their insurance contract when they are...
Credit Insurer Coface Downgrades 28 Countries, 19 on Negative Watch
Apr 10 2009 // Trade credit insurer Coface notes that the current “credit crisis, which entered its second phase in the fourth quarter of 2008, is worsening in all regions. After observing a decline in the average financial...
S&P: Global Risks Mean Some Changes in Store for P/C Insurers
Apr 10 2009 // In the midst of the financial turbulence, it’s easy to lose sight of longer-term trends. The economic downturn doesn’t necessarily mean the end of certain industries, but it does imply that there are some...
