Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Judge Blocks Michigan’s Challenge to Insurance Rates with Credit Scores
Apr 10 2009 // Barry County Circuit Judge James Fisher issued an injunction on Friday, April 10, preventing Michigan insurance regulators from challenging insurance companies’ home and auto insurance rate filings that use credit...
Marsh Finds Growing Demand for D&O Coverage as Claims Rise
Apr 9 2009 // “Concerns about the global economy, shareholder action, litigation, and the increasing engagement by regulators are fuelling demand for Directors’ and Officers’ (D&O) insurance,” according to...
Much Anticipated Windstorm Insurance Debate Begins in Texas
Apr 9 2009 // Texas legislators finally have jumped into debate over how to improve the troubled windstorm insurance system that serves as a last resort for hurricane protection along much of the Gulf Coast. The House Insurance...
P/C Insurers Profitable in 2008; Take Hit From Catastrophes, Financial Crisis
Apr 9 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...
FERMA Welcomes EC Report Favoring Extension of Insurers Block Exemption
Apr 7 2009 // The 16-member Federation of European Risk Management Associations (FERMA) issued a statement that it “welcomes the European Commission (EC) Report in favor of renewal of the Insurance Block Exemption Regulation...
Wright Appointed President, CEO of Texas Mutual Insurance Company
Apr 7 2009 // Ron Wright, chief operating officer of Texas Mutual Insurance Company since 1997, will become president and CEO of the company effective Sept. 1, 2009, Texas Mutual announced. Wright will succeed Russell R. Oliver, who...
6 Steps to Take Before the Soft Market Hardens
Apr 6 2009 // Most insurance professionals detest a soft market because of the increase in competition, unreasonably low pricing and increased market vulnerability. Some, however, may appreciate a softening precisely because of the...
6 Steps to Take Before the Soft Market Hardens
Apr 6 2009 // Most insurance professionals detest a soft market because of the increase in competition, unreasonably low pricing and increased market vulnerability. Some, however, may appreciate a softening precisely because of the...
6 Steps to Take Before the Soft Market Hardens
Apr 6 2009 // Most insurance professionals detest a soft market because of the increase in competition, unreasonably low pricing and increased market vulnerability. Some, however, may appreciate a softening precisely because of the...
Regulators: AIG Not Using Bailout Funds to Under-Price Insurance
Apr 6 2009 // Despite some complaints by competitors, American International Group (AIG) does not appear to be using federal bailout funds to lower its insurance prices to keep and attract business, state and federal officials told a...
6 Steps to Take Before the Soft Market Hardens
Apr 6 2009 // Most insurance professionals detest a soft market because of the increase in competition, unreasonably low pricing and increased market vulnerability. Some, however, may appreciate a softening precisely because of the...
Liaisons Highlight Consumer Insurance Concerns
Apr 6 2009 // Consumer Advocates Focus on How Insurers Treat Insureds in Difficult Economic, Credit Climate Insurance agents, brokers and regulators should be aware that when it comes to insurance, consumers are concerned with such...
