Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
House Panel Hits Defense Department, Insurers Over War Zone Insurance Costs
May 16 2008 // A House committee looking into defense contractors has alleged that the Department of Defense (DoD) has been lax in its management such that insurance companies providing workers’ compensation for civilian employees...
Iowa Mutual Posts Financial Results; Elects New Board Members
May 15 2008 // Iowa Mutual Insurance Company and its subsidiary, Iowa American Insurance Company, announced 2007 performance figures during its annual policyholder meeting. The growth in the commercial area helped offset the difficulty...
Colorado Bill Gives Regulator Authority to Demand Insurance Compensation
May 9 2008 // Colorado Governor Bill Ritter has signed a bill that will allow the state Department of Regulatory Agencies (DORA), and its Division of Insurance the legal authority to demand that insurance companies or agents compensate...
New York Agents Want to Rein in State Workers’ Comp Insurer
May 9 2008 // A trade group for New York insurance agents wants to rewrite the laws governing the New York State Insurance Fund – a nonprofit state agency which is New York’s largest workers’ compensation insurer...
S&P Report: Solvency II More Significant for European Insurers than Credit Crunch
May 8 2008 // Standard & Poor’s Ratings Services has published a report – “Subprime Asset Losses And Related Capital Market Disruption Still Have Little Effect On European Insurance Industry” – which...
Mass. Cuts High Risk Exemption for New Auto Insurers to 2 Years
May 8 2008 // New carriers in the Massachusetts auto insurance market will be exempt from high risk assignments for their first two years under an amended rule approved by Massachusetts Insurance Commissioner Nonnie Burnes. The original...
California Discussing Sale of State Workers’ Compensation Insurer
May 7 2008 // Rumors that California is considering selling the State Compensation Insurance Fund to help close the state budget gap are true, but government officials said the idea has amounted to no more than discussion at this...
Fiserv FSC Insurance Offers Mi-Rater, Real-Time Rating Platform
May 7 2008 // Fiserv FSC Insurance Solutions, a business unit of Fiserv, Inc. recently announced real-time rating capabilities for insurance professionals in Illinois, Iowa, Minnesota and Wisconsin. According to the company statement,...
Survey: Small Businesses Don’t Understand Their Dollars Spent on Workers’ Comp
May 6 2008 // Too many small business decision-makers appear to be spending money on workers’ compensation insurance coverage without understanding how workers’ compensation insurance works, what they get for their premium...
Mass. Agents Take Aim at Progressive Online; Insurer Defends Site
May 6 2008 // Independent agents in Massachusetts have charged that Progressive Insurance, which began selling auto insurance online in the state May 1, is skirting state regulations and misleading consumers with its Web site quoting...
High Risk Pass for New Mass. Auto Insurers Irks Established Players
May 5 2008 // Massachusetts auto insurers have been operating under a new managed competition auto insurance system for only a month now but a battle is well underway over how to treat newcomers to the state. The Patrick administration...
U.S. Insurers Face Uphill Battle to Alter Foreign Insurers’ Tax Break
May 5 2008 // A coalition of U.S. insurers is calling on lawmakers to close a tax loophole that helps foreign insurers, and although it has won the support of presidential hopeful Hillary Clinton, it faces a harder task convincing...
Insurers not Impressed with Florida’s Revamped Insurance Package
May 5 2008 // While many Florida lawmakers claim to be opposed to gambling, they don’t mind taking a chance on Mother Nature. They rolled the dice again on May 1, signing off on a new insurance bill that does little to alleviate...
Established Mass. Auto Insurers Decry ‘Free Ride’ For Incoming Players
May 5 2008 // Existing carriers complain that plan to give 3-year high risk exemption to newcomers creates uneven playing field The Patrick administration is pushing a rule that exempts new auto insurers in Massachusetts from having to...
Mutuals and Stocks Behave Differently in Insurance Cycles
May 5 2008 // Difference is tied to how mutual insurers build market share, Conning researcher says When it comes to managing through a soft cycle, mutual companies behave in a way that is different than their stock-owned brethren,...
California Aims to Improve Insurance Rate Approval Process
May 5 2008 // California Insurance Commissioner Steve Poizner has issued emergency regulations that he believes will clarify and streamline the prior approval rate system for insurance. However, a consumer advocacy group said the...
Consumer Federation Says Prior Approval Works, Industry Says Not True
May 5 2008 // A nationwide consumer study of automobile insurance regulation says rates have risen more slowly in the 15 states that require insurers to receive advance approval of rate increases from the state in the past two...
What MGAs Should Know About Carriers’ Due Diligence for Programs
May 5 2008 // Proper due diligence lays the foundation for a mutually beneficial, long-term business relationship Smart program administrators know that aligning themselves with financially-strong insurance carriers can help attract...
A Soft Market Solution: MGAs and Risk Sharing
May 5 2008 // Part1: Retaining limited underwriting risk could offer MGAs a way to bolster revenue Editor’s Note: The following is part one of a discussion of the risk retention options available to MGAs, the sundry variables...
Carrier Stock Prices on the Rocks Thus Far in 2008 But M&As Robust
May 5 2008 // Stock Prices Consistent with the market as a whole, the carrier sector has had a rocky start to the new year, trading down 10 percent. M&A Activity M&A activity in the property/casualty sector remained robust as...
