Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
S&P: Market Perception of Creditworthiness Affects Insurers
Nov 13 2008 // In a confidence-sensitive industry, many insurers have seen their financial strength acutely affected by market perception of their credit quality, according to “Evaluating Liquidity Triggers In Insurance...
West Virginia Workers’ Comp Insurer Plans 50 Staff Cuts
Nov 12 2008 // BrickStreet Insurance said it is looking to shed 50 employees in a move to cut costs following the loss of its monopoly in writing workers’ compensation insurance policies to West Virginia businesses. The action is...
Mass Mutual, New York Life Reject Government Aid
Nov 12 2008 // Two insurance companies have said they will not participate in the government’s rescue program to directly invest billions in financial companies. Some insurers likely would be eligible under the Treasury...
Political Risk Rises But Risk Experts, Insurers Face Crunch Too
Nov 11 2008 // Fear of conflict, instability, crime and increasing state intervention arising from the financial crisis might sound like good news for political risk consultancies that have sprung up in recent years — but in...
Texas Enforcement Actions for Sept. 2008 Include $160K in Fines
Nov 11 2008 // The Texas Department of Insurance enforcement actions taken by Commissioner Mike Geeslin that became final during September include ten license revocations, two license denials and fines and restitution totaling...
Insurers Advised to Get Federal Funds By Applying for Bank Charter
Nov 9 2008 // U.S. insurance companies trying to get access to government funding can apply for a bank or thrift charter at the same time as they apply for a cash infusion under the U.S. government’s $700 billion financial...
California Warns Consumers of Brooke Policies
Nov 7 2008 // California Insurance Commissioner Steve Poizner encouraged consumers who have purchased insurance policies through Brooke franchises to verify their coverage, in light of recent closures at Brooke. It is unlikely that an...
Berkshire Closes on Deal for 2 White Mountains’ Insurers in Runoff
Nov 5 2008 // Billionaire Warren Buffett’s Berkshire Hathaway Inc. owns two more insurance companies after completing a deal with White Mountains Insurance Group. Documents filed with the Securities and Exchange Commission show...
Florida’s Citizens Property Insurer Offers Commercial Multi-Peril Policy
Nov 4 2008 // Florida’s state-backed Citizens Property Insurance Corp. will begin offering a commercial nonresidential multi-peril policy on Nov.17. This new policy will be available to eligible nonresidential risks located...
Kan. Insurers That Cover Drivers With Foreign Licenses Spark Debate
Nov 4 2008 // While some immigrants may not be able to get a driver’s license in Kansas, they can get car insurance. The Wichita Eagle reported on Nov. 2 that at least two insurance companies in the state offer policies to...
A Winning E&O Defensive Strategy: How Agents Can Block Claims
Nov 4 2008 // In sports, the best offense is a great defense, right? When it comes to preventing errors and omissions claims defensive measures are also the best offense in protecting an insurance agency. Defensive strategies, or risk...
Association Urges Voters to Defeat “Anti-Insurer Ballot Initiative” in Arizona
Nov 4 2008 // The Property Casualty Insurers Association of America is urging voters in Arizona to defeat Proposition 201, the “Homeowners Bill of Rights.” According to the ballot proposition, current Arizona law is...
Insurer Offering Coverage Discount for Home Fortification in Mississippi
Nov 3 2008 // Nationwide Insurance is offering up to 35 percent premium discounts along the Mississippi Gulf Coast to qualified policyholders who reinforce their houses against wind damage. Insurance Commissioner Mike Chaney says...
Mississippi Katrina Report: No Insurer Fraud Pattern
Nov 3 2008 // State Farm Fire & Casualty Cos. made questionable decisions in handling Hurricane Katrina claims, but a nearly two-year study found no pattern of fraud in Mississippi, according to a state agency report released Oct....
Mass. Surviving Bumps in the Auto Insurance Road
Nov 2 2008 // Burnes Rules Out Permitting Insurers to Use Credit Scores; Goes Slow on Property Market Issues Massachusetts Insurance Commissioner Nonnie Burnes has presided over the biggest shakeup in the Massachusetts’ personal...
Higher Gas Prices Drive Down Auto Rates, Drive Up Politics Over Regulation in New York
Nov 2 2008 // In New York, there exists a curious relationship between gas prices and insurance premiums, at least in government officials’ minds. Gov. David Paterson said his state’s efforts to rein in insurance rates by...
A.M. Best, Insurers Worry Financial Crisis Could Affect Florida’s Cat Fund
Nov 2 2008 // The Florida Hurricane Catastrophe Fund Advisory Council recently rattled the nerves of insurers when it presented its 2008 October bonding estimates. David Sampson, president of the Property Casualty Insurers Association...
Insurers’ Study Warns on North Carolina Beach Plan Deficit
Nov 2 2008 // The insurance industry has unveiled results of a report finding that the North Carolina Insurance Underwriting Association, a.k.a. the Beach Plan, is not financially prepared to weather a major storm. According to the...
Alabama Revenue Chief Calls for Captive Insurers for Coastal Property Risks
Nov 2 2008 // Alabama’s coastal property insurance crisis could be resolved by the state and cities working together to form special types of insurance companies to offer coverage, the state revenue commissioner said. Tim Russell,...
Texas Officials Blast Feds; Regulators Warn Insurers
Nov 2 2008 // Texas lawmakers have praised the state’s response to Hurricane Ike but are not quite so complimentary of the performance of the Federal Emergency Management Agency in the aftermath of the storm that made landfall in...
