Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
South Carolina Coastal Risk Conference Garners Insurer Support
Sep 18 2008 // The American Insurance Association is participating in this week’s conference “Out of the Storm: Confronting America’s Catastrophic Risk Crisis,” organized by the South Carolina Department of...
Fitch On AIG Rating Watch Revision
Sep 18 2008 // On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which...
Ark., La. Commissioners Reassure Policyholders After AIG Bailout
Sep 18 2008 // Both Arkansas Insurance Commissioner Julie Benafield Bowman and Louisiana Commissioner of Insurance Jim Donelon have issued statements seeking to reassure policyholders in the wake of the federal takeover of insurance...
Property Insurer Affiliated FM Offers ‘Green’ Endorsement on All Risk Policy
Sep 18 2008 // Middle-market commercial property insurer Affiliated FM has introduced a new ‘green’ coverage endorsement to its proVision all-risk property policy. The green endorsement provides flexible coverage for the...
Hurricane Ike Tests Texas Windstorm Association’s Ability to Pay Claims
Sep 18 2008 // The Texas Windstorm Insurance Association (TWIA) on Sept. 17 announced that anticipated claims from Hurricane Ike will force it to use the entire $370 million remainder of its Catastrophe Reserve Trust Fund, according to...
Hurricane Ike to Cost Insurers $7B to $12B, RMS Says in Revised Tally
Sep 18 2008 // Risk Management Solutions (RMS), the catastrophe risk modeling firm, has refined its estimate for U.S. onshore and offshore insured losses from Hurricane Ike to $7 to $12 billion from its original estimate of $6 to $16...
State Regulators: Insurer Groups Must ‘Stick to Facts’ on AIG
Sep 18 2008 // National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Sandy Praeger today issued the following statement regarding American International Group (AIG): In times of crisis, the...
Washington Regulator Issues Statement on AIG
Sep 18 2008 // In response to consumer inquiries about insurance companies owned by the troubled financial conglomerate, American International Group (AIG), Washington Insurance Commissioner Mike Kreidler issued the following statement...
Insurers Seek Veto of California Workers’ Comp Bills
Sep 17 2008 // The American Insurance Association says three measures on the way to California Gov. Arnold Schwarzenegger’s desk should be vetoed because they will increase employers’ costs for workers’ compensation,...
Japan Insurers, QBE Seen Eyeing AIG Assets; China Less Likely
Sep 17 2008 // Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s...
Court: Insurer Can’t Bring Subrogation Claim Against Attorney
Sep 17 2008 // Insurers are not allowed to bring equitable subrogation actions premised on professional negligence against attorneys, the Colorado Court of Appeals has ruled. According to State Farm Fire and Casualty Co., as subrogee of...
U.S. Looks to Former Allstate CEO Liddy to Run AIG
Sep 17 2008 // The U.S. government is betting former Allstate chief Edward M. Liddy is the safest pair of hands to oversee the dismantling of American International Group Inc. and prevent further unraveling of the world’s stressed...
Auto Insurers Fail to Catch Most New Shoppers: J.D. Power
Sep 16 2008 // On average, auto insurance companies quote and successfully sign only two percent of all auto insurance shoppers, according to the J.D. Power and Associates 2008 Insurance Escaped Shopper Study. The study finds that 36...
Texas Regulators Suspend Premium Payments for Ike Victims
Sep 16 2008 // In the aftermath of Hurricane Ike, the Texas Department of Insurance has directed insurance carriers to “to provide prompt and immediate relief” to residents and policyholders impacted by the storm,...
States May Help AIG; Also Assure Policyholders Claims Will be Paid
Sep 16 2008 // State insurance officials from Pennsylvania and New York, where troubled American International Group’s insurance subsidiaries have a an estimated $120 billion in assets, are offering to assist AIG in raising...
California Legislative Session Positive on Insurance Issues
Sep 15 2008 // This year’s California legislative session has been a relatively positive one for property/casualty insurers and their customers, according to the Association of California Insurance Companies. Legislators generally...
Bermuda Association Explains Reinsurance Risk Spreading Role
Sep 15 2008 // “The global reinsurance market plays an integral role in spreading US hurricane risk around the world,” said a bulletin from the Association of Bermuda Insurers and Reinsurers (ABIR). “Without it, the...
For Independent Agents, Carriers’ Claims Service is Top Performance Measure
Sep 15 2008 // Independent insurance agents want their property/casualty insurance carriers to provide quality claims service above all else, according to an exclusive survey of agents’ attitudes about the insurers their agencies...
July Enforcement Actions in Texas Result in $500K in Fines
Sep 10 2008 // Enforcement actions taken by Texas Commissioner of Insurance Mike Geeslin in July 2008 include nine license revocations, four license denials and fines and restitution totaling $539,814. Copies of Geeslin’s orders...
California in Holding Pattern on Insurance Bills
Sep 9 2008 // With Democratic and Republican legislators unable to agree on a budget since California’s fiscal year began on July 1, 2008, many state services — as well as insurance bills — are at a standstill. Gov....
