Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
N.Y. Requires Showing of Prejudice Before Insurers Disclaim for Late Notice
Sep 1 2008 // New York has enacted a bill requiring a showing of prejudice before insurers can disclaim coverage for late notice. The bill amends Section 3420 of the New York Insurance Law to require liability policies to provide that...
AIG CEO Says He Will ‘Take a Scalpel’ to Reshape Giant Insurer
Sep 1 2008 // American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led to...
Broker Liability: Scope of Coverage
Sep 1 2008 // Agents Liable for Failing to Obtain Promised or Reasonably Anticipated Coverage Absent any express representations of coverage by the agent or broker, when the insured accepts a policy without objection, the general rule...
American Slain in Beijing Was Board Chairman of Illinois Insurance Company
Sep 1 2008 // An American stabbed to death in China in an attack that also critically injured his wife had ties to the Metro East, Ill. Sixty-two-year-old Todd Bachman was the board chairman at Edwardsville-based Hortica. That company...
Credit Scoring Fight ‘On Again’ in Michigan
Sep 1 2008 // The simple fact is that now insurance companies in Michigan no longer will be able to use customers’ credit scores to set home and auto insurance premiums — if the state Court of Appeals ruling stands. Just when...
Insurers Seek Study of North Carolina Beach Plan’s Finances
Sep 1 2008 // Insurers are calling upon the the North Carolina Insurance Underwriting Association, known as the Beach Plan, to release its financial information to allow consumers, lawmakers and insurers to begin working on long-term...
U.S.-Mexico Cross Border Trucking Project Extended for 2 More Years
Sep 1 2008 // In early August 2008 the U.S. Department of Transportation extended for two years the cross border trucking demonstration project, a reciprocal agreement that allows up to 100 Mexico-domiciled motor carriers to operate...
California Senate Committee Passes Pay-As-You-Drive Legislation
Sep 1 2008 // Legislation that would allow insurers to more accurately base auto insurance premiums on how many miles a motorist drives passed the California Senate Appropriations Committee. Proposition 103 requires insurers to set...
Broker Liability
Sep 1 2008 // Liability for Failing to Obtain Promised or Reasonably Anticipated Coverage Author’s note: This is part II in a series on broker liability. Part I appeared in the Aug. 4, 2008, issue. Absent any express...
California Legislature Passes Agent-Broker Bill
Sep 1 2008 // California Assembly Bill 2956, which will clarify the duties of an agent versus those of a broker, has passed both the state Assembly and Senate. The bill will now be held at the Assembly desk until the state budget is...
U.S.-Mexico Cross Border Trucking Project Extended for Two More Years
Sep 1 2008 // In early August 2008, the U.S. Department of Transportation extended for two years the cross-border trucking demonstration project, a reciprocal agreement that allows up to 100 Mexico-domiciled motor carriers to operate...
U.S. Insurers’ Exposure to Fannie Mae/Freddie Mac Deemed Manageable
Sep 1 2008 // The U.S. insurance industry’s exposure to securities issued by Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs), is substantial for a handful of companies. Nevertheless, A.M. Best Co. does not...
Business Planning in a Snap!
Sep 1 2008 // How to Create a Fast, Effective One-Page Agency Plan The fall is a good time to plan for the New Year by reflecting on how the agency has been operating over the past year. Operations may need to be restructured to the way...
Florida Insurers Update Claims Numbers on Fay’s Heels
Aug 29 2008 // The Florida Office of Insurance Regulation reported the latest claims tallies as of today (Aug. 29) for five of the state’s highest volume insurers. As of 9 a.m. EDT, state-backed Citizens Property Insurance Corp....
Soft Market Exposes Value of Risk Control for Golf Insurers
Aug 28 2008 // For the golf industry, 2008 business is at best a bogey — probably worse. And for the agents, carriers and program managers who cater to the golf and country club world, that’s made for a rough market,...
Fitch: P/C Profits Decline Sharply in First-Half 2008
Aug 28 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008, according to a new Fitch report. Profitability declined due to poor investment performance and deteriorating...
French Insurers Scor, CNP Post Higher Profits
Aug 27 2008 // French insurance companies Scor and CNP posted higher first-half earnings on Wednesday after managing to ride out the credit crisis in the global financial markets. Scor, the world’s fifth-biggest reinsurer, said...
Michigan Court Upholds Ban on Credit Scoring in Insurance
Aug 25 2008 // Insurance companies in Michigan no longer will be able to use customers’ credit scores to set home and auto insurance premiums if a state Court of Appeals ruling stands. The 2-1 decision released Friday, August 22...
Several Insurers Could See Big Fannie, Freddie Losses
Aug 25 2008 // A handful of insurers holding equity in U.S. home-funding giants Fannie Mae and Freddie Mac could see big losses if a federal takeover wipes out the value of the agencies’ common and preferred stock, as some...
Update: Largest Florida Insurers Report Homeowners, Auto and Flood Claims
Aug 24 2008 // Insurers continue to tally claims from Tropical Storm Fay after its fourth landfall occurred on the Panhandle. The Florida Office of Insurance Regulation compiled and released the latest numbers from some of the...
