Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Caribbean Insurance Company Clico Faces Liquidation
Mar 5 2009 // A bailout of troubled CL Financial Ltd. by Trinidad and Tobago’s central bank has been having ripple effects across the Caribbean, where regulators are liquidating the sprawling firm’s insurance subsidiaries to...
New York Insurance Chief Dinallo’s U.S. Senate Testimony on AIG
Mar 5 2009 // Testimony by New York Insurance Superintendent Eric Dinallo to the United States Senate Committee on Banking, Housing and Urban Affairs Hearing on “American International Group: Examining What Went Wrong, Government...
Texas Workers’ Comp Div. Issues $169K in Fines in Dec.and Jan.
Mar 5 2009 // Texas Commissioner of Workers’ Compensation Rod Bordelon announced that disciplinary actions taken by the Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) in December 2008 and January...
12 Michigan Auto Insurers Pledge Rate Freeze
Mar 4 2009 // Michigan Gov. Jennifer Granholm’s call for auto insurance companies to freeze their rates has won over 12 companies thus far, although most of the state’s largest insurer have not consented to the freeze. In a...
Best Maintains Stable Outlook on U.S. Personal, Commercial Lines Sectors
Mar 4 2009 // The rating agency A.M. Best Co. said it continues to view the outlook for both the U.S. personal and commercial lines markets as stable. Despite the ongoing soft period in the cycle in commercial lines, a contracting...
Texas Insurer Group Takes Issue with NAIC Homeowner Report
Mar 4 2009 // The National Association of Insurance Commissioner recently issued its annual report on homeowners insurance. The report, based on figures from 2006, the latest year from which data is available, ranks Texas as having the...
California Insurers Association Warns Against Out-Of-Towner Accident Tax
Mar 4 2009 // The Association of California Insurance Companies is warning Californians about a trend in the state by local governments to impose taxes on out-of-towners who are in an auto accident. According to ACIC, because the tax...
Insurer Offers Bluetooth Headset in Client Referral Offer
Mar 4 2009 // Western region auto insurer Capital Insurance Group (CIG) has launched a unique promotion to increase its client referral business. The company is offering drivers with CIG auto insurance a Bluetooth headset for free if...
New York Tries First-Ever Sale of Failed Insurer to Private Investors
Mar 4 2009 // New York state will try to sell Midland Insurance, which is being liquidated with almost $1 billion of assets and $2.9 billion of liabilities, in the first-ever sale to private investors, the state insurance chief said...
Oregon Bill Could Drive Up Insurance Costs, Insurers Claim
Mar 3 2009 // The American Insurance Association (AIA), National Association of Mutual Insurance Companies (NAMIC) and Property Casualty Insurers Association of America (PCI) are reaching out to Oregon legislators to highlight what it...
Oklahoma Democrats: GOP Is Protecting Insurance Companies
Mar 2 2009 // Oklahoma Senate Democrats are charging that Republicans are taking the side of insurance companies over the needs of their constituents. Democratic leaders held a news conference Feb. 26 to decry decisions by GOP leaders...
British Insurer RSA to Cut 1,200 Jobs
Feb 27 2009 // RSA Insurance Group PLC said that it plans to cut 1,200 jobs as it reported a 7 percent fall in its full-year profit. For the year ending Dec. 31, RSA reported a profit of 586 million pounds ($831 million), down from 628...
U.S. Senate Panel Sets March 5 Hearing on AIG
Feb 26 2009 // The U.S. Senate Banking Committee has scheduled a hearing on March 5 to examine government aid to insurer American International Group Inc, a source familiar with the hearing said Wednesday. Federal Reserve Board Vice...
North Carolina Insurance Chief Warns Against Coastal Rate Freeze
Feb 25 2009 // Legislative efforts to freeze big insurance rate increases for coastal homeowners risk making policies less available and more costly for all state residents, North Carolina’s new insurance commissioner said. Such...
Nebraska Trial in Florida Insolvent Insurer Case Put on Hold
Feb 25 2009 // The Nebraska Supreme Court has ordered a judge to put a new trial on hold in a multimillion-dollar insurance dispute and follow the high court’s ruling from last summer. Last June, the Supreme Court threw out the...
A Few Small Market Insurers Agree to Michigan Auto Rate Freeze
Feb 24 2009 // Michigan Gov. Jennifer Granholm’s call for auto insurance companies to freeze their rates has won over eight companies thus far, although they are insurers with small share of the market in the state. In a Feb. 3...
New York Regulator ‘Reminds’ Insurers about Accounting Requirements
Feb 23 2009 // New York Insurance Department Superintendent Eric Dinallo issued a reminder last week that insurance companies must file annual financial reports or supplements that comply with the accounting requirements prescribed by...
Guyana Insurer Blames Stanford Group for Losses
Feb 23 2009 // A leading insurance company in Guyana says it has lost nearly $1.5 million in pension funds after investing with Texas financier R. Allen Stanford. Spokesman Hewley Nelson says the “Hand in Hand” company began...
Swimming Downstream: How a Regional Insurer Buy Others Through Demutualization
Feb 22 2009 // Donegal Group’s Strategy Has Helped It Grow From Writing in 1 State to 19 in 20 Years Even in a good economy, mutual insurers face challenges trying to raise the capital they need to grow since they don’t have...
Certificates of Insurance and Agency Liability: What Agents Should Know
Feb 22 2009 // A common practice by insurance carriers is to inform their agents that they should not send the company copies of certificates of insurance when they are issued. This is most likely the result of mail-flow issues with the...
