Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Three’s a Crowd
Nov 2 2008 // Recent Insurance Decisions of the Texas Supreme Court On Aug. 29, 2008, the Texas Supreme Court continued its recent foray into insurance law by issuing three important insurance coverage decisions. Each of these decisions...
New York Closes Receivership of Insolvent Texas Insurer
Nov 2 2008 // The New York Liquidation Bureau said it has completed all necessary steps to bring to a close the ancillary receivership in New York of American Eagle Insurance Company, a Texas-based property/casualty firm declared...
Binders: A Short Primer
Nov 2 2008 // Understanding the Limits of Oral and Written Binders Insurance Code Section 382.5(a) defines a binder as a “writing” that “temporarily obligates the insurer to provide … insurance coverage pending...
Risk Managers Report Price Softening; Insurers Battle Surplus Decline
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes Risk managers report that commercial policy renewal prices are continuing to drop even as insurers are battling a...
More Lawsuits, Firmer Prices on the Horizon for Executive Liability
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes More lawsuits and firmer rates for directors and officers liability coverage are almost certainly ahead as a...
Commercial P/C Insurers’ Stocks Down 14%; M&A Activity at Historic Highs
Nov 2 2008 // Stock Prices: The turbulent stock market is not sparing commercial property/casualty insurers. Through the first nine months of the year stocks are down 14 percent in the sector. M&A Activity: Despite the current...
The Battle to Preserve Agency/Broker Value
Nov 2 2008 // As economic stagnation and current rate pressure weakens performance and as supply starts to outstrip demand for acquisitions, agencies and brokers must be prepared for deteriorating valuations. As the next few years will...
A Winning E&O Defensive Strategy
Nov 2 2008 // How Agents Block Claims 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....
Property/Casualty Insurers on Government Rescue Funds: No Thanks
Nov 2 2008 // Following reports that the U.S Treasury is considering adding life, bond and mortgage insurance companies to its list of beneficiaries for some of the $700 billion federal bailout package, property/ casualty insurers are...
Why Agents Choose Other Markets Rather Than Their Preferred Markets
Nov 2 2008 // While independent agents have their favorite carriers for certain risks, on occasion they end up choosing a carrier other than their preferred carrier. Most often the reason they do is pricing. Independent agents named...
Ace CEO Says Insurers Wrong to Seek Taypayer Funds
Oct 30 2008 // Evan Greenberg, Ace Limited’s CEO, chided insurers asking to take part in a plan that could see government take stakes in ailing financial institutions, saying the motivation is not real need but access to...
2008 a Rough Year for Texas Insurers
Oct 28 2008 // Insured losses in Texas lead all other states by a wide margin as claims from the state’s hurricanes continue to pour in, the Insurance Council of Texas (ICT) reported. Insured losses from the first three quarters of...
Travelers, Chubb Protest U.S. Aid for Insurers; Life Insurers Welcome Help
Oct 28 2008 // Property/casualty insurers Travelers Cos. Inc. and Chubb Corp. said they do not need federal financial assistance and chided other insurers pushing to be included in the $700 billion bailout. “Most companies in the...
U.S. Treasury Mulls Aid Program for Life, Bond, Mortgage Insurers
Oct 27 2008 // The Treasury Department is studying how it could give relief to insurance companies under a $700 billion financial services rescue package, two sources familiar with the deliberations said Friday. The Troubled Asset Relief...
Arkansas Insurance Company Owner Sentenced to 6 Years
Oct 27 2008 // The owner of a Little Rock, Ark., insurance company has been sentenced to six years in prison on a federal fraud conviction, the U.S. attorney’s office said. Frank Whitbeck, 61, also was ordered to pay $3.8 million...
China’s Life Insurers Post Disappointing Results
Oct 27 2008 // China’s biggest life insurers posted disappointing quarterly results on Monday, hurt mainly by investment income which took a hit from plunging stock markets across the region. China Life Insurance, the...
Economic Downturn Presents Challenges for Title, Mortgage Industry
Oct 27 2008 // Reserving for mortgage insurance and title insurance in an economic downturn and amid a stressed real estate market can present challenges for insurers and actuaries, attendees at the Casualty Loss Reserve Seminar were...
Insurers to Pay $11.5 Billion in Q3 Catastrophe Claims
Oct 27 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $11.5 billion for third-quarter property losses resulting from a total of 11 catastrophes in 22 states — the fourth-largest...
Property/Casualty Insurers on Government Rescue Funds: No Thanks
Oct 27 2008 // Following reports that the U.S Treasury is considering adding life, bond and mortgage insurance companies to its list of beneficiaries for some of the $700 billion federal bailout package, property/casualty insurers are...
Ohio Health Insurer Investigates Missing Data on Retirees
Oct 24 2008 // Eleven computer disks containing personal information on thousands of Ohio retirees are missing and are believed to be somewhere in the US Postal Service, Medical Mutual of Ohio recently announced. The disks contain member...
