Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Commissioners Warn AIG Policyholders To Be Cautious
Sep 30 2008 // California Insurance Commissioner Steve Poizner and Washington Commissioner Mike Kreidler reaffirmed that insurance companies owned by AIG continue to have the risk-based capital needed to operateand warned policyholders...
Company: Dead Miner’s Family Fight is With Insurer
Sep 30 2008 // The mining company faulted for a cave-in that killed six miners in 2007 says it has no position on a worker’s compensation claim filed by the family of one of the victims. Genwal Resources Inc., a subsidiary of...
Texas Cautions Consumers on Replacement of AIG Policies
Sep 29 2008 // The Texas Department of Insurance (TDI) has issued a statement and answers to some frequently asked questions regarding AIG insurance companies in Texas. “AIG’s Texas insurance companies are currently...
California Approves Legislation To Transform Workers’ Comp Insurer
Sep 26 2008 // Calif. Gov. Arnold Schwarzenegger has signed legislation to help transform the Golden State’s workers’ compensation insurer, the State Compensation Insurance Fund. Assembly Bill 1874 and Senate Bill 1145 are an...
State Regulators Blast Federal Regulation Advocates Over AIG
Sep 26 2008 // State insurance commissioners have lashed out at members of Congress who are blaming state regulation for the problems of American International Group (AIG) and using the AIG crisis to bolster their advocacy for federal...
Medical Malpractice Insurer Lowers Mass. Rates 2.7%
Sep 25 2008 // CMIC, a doctor-owned medical malpractice insurer, announced a 2.7 percent overall rate reduction in its claims made rates for Massachusetts doctors effective Oct. 1, 2008. Denise Funk, CEO of CMIC, credited the continued...
Biden Hits McCain Over ‘Bermuda Loophole’ for U.S. Insurers
Sep 25 2008 // Democratic vice presidential candidate Joe Biden said Republican John McCain protected offshore tax shelters worth billions of dollars to U.S. insurance giants. In a trip to the battleground state 0f Virginia this week,...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Sep 24 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
PCI Tells U.S. Trade Commission China Insurance Link Important
Sep 24 2008 // In testimony before the U.S. International Trade Commission, the Property Casualty Insurers Association of America (PCI) stressed the “importance of the U.S.-China insurance trade relationship.” The PCI also...
New York Insurance Chief Urges Caution on AIG Policy Switching
Sep 23 2008 // AIG’s insurance companies are financially sound, with substantially more in assets than they need to pay all valid present and projected claims, New York Insurance Superintendent Eric Dinallo said. Dinallo also...
New York to Begin Regulating Part of Credit Default Swap Market
Sep 23 2008 // New York Governor David A. Paterson said that New York State will, beginning in January, regulate part of the credit default swap market which has to date been unregulated and has been a major contributor to the emerging...
Texas Issues Data Call to Insurers in Hurricane Ike’s Aftermath
Sep 23 2008 // The Texas Department of Insurance (TDI) is conducting a mandatory data call for certain information related to claims in the counties of Angelina, Austin, Brazoria, Brazos, Chambers, Cherokee, Fort Bend, Galveston, Gregg,...
Study: Tort Reform Lowers Premiums, Sometimes
Sep 23 2008 // A researcher at the University of Iowa has found that tort reform laws do lower insurance premiums and save consumers money, though it depends on where the consumer lives. Ty Leverty, assistant professor of finance in the...
Organizations Opposed to U.S. Insurance Tax Bill Issue Statement
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
Hurricane and Political Seasons Stir Up National Cat Plan Proposals
Sep 22 2008 // As Losses Mount for Insurers, More Proposals for a National Solution Emerge Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and...
Trouble on the High Seas?
Sep 22 2008 // Understanding and Planning for Exporters’ Risks While Cargo Is In Transit In the world of foreign trade, making the sale is only half the battle. Once the sale is completed, the arduous process of getting the...
Fitch: P/C Profits Decline Sharply in First-Half 2008
Sep 22 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008. Profitability declined due to poor investment performance and deteriorating accident-year underwriting results, which...
105 Workers Comp Carriers Enter West Virginia
Sep 22 2008 // Since West Virginia opened its workers’ compensation insurance market on July 1 of this year, 105 insurance carriers have entered the field and begun to write policies, according to Insurance Commissioner Jane L....
Chicago’s Mayor Hits AIG Bailout; Other Midwest Officials More Positive
Sep 19 2008 // Midwestern reaction to the bail out of insurance giant American International Group (AIG) varies by regions and officials. In Chicago Mayor Richard Daley is not happy about the Federal Reserve Bank’s decision to...
New AIG CEO Liddy: Insurer’s ‘Mess is Solvable’
Sep 19 2008 // American International Group Inc., which narrowly escaped financial collapse this week, on Thursday said it had named Edward Liddy as chairman and chief executive. Liddy succeeds Robert Willumstad, who is leaving after...
