Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Best Downgrades Kingsway and Some Operating Company Ratings
Jan 23 2009 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) to “b” from “bb-” of Canada’s Kingsway Financial Services Inc. (KFSI) and Kingsway America Inc. (KAI), which is headquartered in...
Kingsway Comments On Best’s Actions; Simpson Named COO
Jan 23 2009 // Toronto-based Kingsway Financial Services Inc. has responded to the various rating actions taken by A.M. Best (see related article). The Company acknowledged that Best has affirmed the financial strength ratings of eight...
North Carolina Urged to Reduce Beach Plan Coverage, Cap Insurers’ Liability
Jan 23 2009 // North Carolina’s state-sanctioned property insurance program at the coast should reduce its maximum property policy coverage to relieve its potential liability in a massive hurricane, a legislative study committee...
Hale Awarded Scholarship from Louisiana Workers’ Comp Insurer
Jan 23 2009 // The Louisiana Workers’ Compensation Corporation (LWCC) announced that Kevin Paul Hale of Baton Rouge, La., has been selected as the 2008 recipient of the Stephen W. Cavanaugh Scholarship. LWCC established the Stephen...
Texas Windstorm Insurer: Repairs Must Follow Wind Code Rules
Jan 23 2009 // The Texas Windstorm Insurance Association is instructing agents who have clients with residential dwellings insured under the TWIA waiver program that all repairs must be done to the current catastrophe area wind code...
Lawmakers Press Treasury Nominee to Boost Federal Oversight of Insurance
Jan 23 2009 // Seven U.S. lawmakers Friday urged Treasury Secretary nominee Timothy Geithner to boost federal oversight of insurance companies, a long-held goal of much — although not all — of the insurance...
North Carolina Considers Capping Insurers’ Liability for Beach Plan Costs
Jan 22 2009 // A legislative committee looking at how to cover insurance claims after a big hurricane in North Carolina may recommend a cap on how much private insurers would be forced to pay. The study panel scheduled its final meeting...
Insurers Propose Decrease for Nevada Workers’ Compensation Rates
Jan 22 2009 // Nevada Insurance Commissioner Scott Kipper announced that the industry’s National Council on Compensation Insurance Inc. (NCCI) has submitted a filing for an average decrease of 4.9 percent for Nevada workers’...
New York: Insurers Did Not Steer Customers to Certain Body Shops
Jan 22 2009 // An investigation by the New York Insurance Department has found that auto insurers in the state did not engage in a widespread effort to steer consumers to certain auto body shops – a violation of state law. However,...
Insurer’s Fire v. Pollution Argument Dismissed in Houston Court
Jan 22 2009 // Ohio-based Great American Insurance Company and its policyholder have reached an agreement with respect to all outstanding issues relating to the availability of excess insurance coverage for lawsuits brought by families...
California Insurance Commissioner Seeks Disability Changes
Jan 21 2009 // For the second time in two months, Insurance Commissioner Steve Poizner is being accused by his predecessor, Lt. Gov. John Garamendi, of proposing regulation changes that will weaken consumer protections. The latest...
West Virginia Insurer BrickStreet Mutual Elects Flaherty Chairman
Jan 20 2009 // BrickStreet Mutual Insurance Co.’s board of directors has elected Charleston attorney Thomas V. Flaherty to serve as its new chairman. In addition, BrickStreet Senior Vice President and General Counsel Thomas J....
Insurers Buck Against Fire-Safety Discounts in Montana
Jan 16 2009 // Spending to stomp out wildfires could be reduced by training and rewarding homeowners to practice fire-safety defense, Montana lawmakers said as they presented several bills intended to cut costs. The bills could force...
Federal Affairs Chief Merski Latest Executive to Join Zurich from AIG
Jan 16 2009 // Zurich Financial Services Group Inc., which has been on a recruitment spree, said Rich Merski, a former AIG executive, is joining the insurer as head of federal affairs in the United States. Merski most recently managed...
Munich Re Webinar Provides Insights on Nat Cats, Industry Strength
Jan 16 2009 // Munich Re’s Webinar on Thursday – 2008 Natural Catastrophes – presented a detailed analysis of the increasing number of weather related events that concern both primary carriers and reinsurers. It also...
AIG Is Lead Insurer on Airplane Downed in Hudson River
Jan 16 2009 // American International Group Inc. said Friday it was the lead insurer on the US Airways passenger jet that went down in Manhattan’s Hudson River on Thursday. An AIG spokesman, John Jones, said he could not provide...
Why a Small Hairless Lawyer Should be America’s– and Insurers’– First Pet
Jan 15 2009 // Harry Truman might have said it, Bill Clinton did quote it and George Bush, Sr. said he didn’t need the advice because he already had First Lady Barbara Bush but it simply goes like this: “If you want a friend...
Madoff Scandal to Cost Insurers $1.8 Billion, Aon Benfield Says
Jan 15 2009 // While the maximum potential exposed insurance limits resulting from the alleged Bernard Madoff Ponzi scheme are estimated to be above $6 billion, the range of direct insured losses will be a far smaller number, most likely...
Iowa Burial, Health Savings Plan Insurers Merge
Jan 14 2009 // Two Des Moines area insurance companies have signed a letter of intent to merge. West Des Moines-based Homesteaders Life Co. and American Enterprise Mutual Holding Co. of Des Moines will merge under the plan, with...
Lawyers Hope to Fix Catastrophe- Related Insurance Problems
Jan 14 2009 // The nation’s lawyers who deal with insurance issues are developing policy recommendations designed to improve access to insurance coverage, reduce litigation over coverage and mitigate future losses involving natural...
