Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Malpractice Insurer to Give Back $11 Million to Illinois Doctors
Apr 14 2008 // Illinois doctors will get a refund collectively worth $11 million from the state’s largest medical malpractice insurer. The Illinois State Medical Insurance Exchange says claims are down. That means doctors will get...
Berkshire Hathaway Municipal Bond Insurer Wins Top S&P Rating
Apr 14 2008 // Billionaire Warren Buffett’s new municipal bond insurance company Friday won the top “AAA” rating from Standard & Poor’s Ratings Services, which cited the venture’s nearly $1 billion...
Georgia Lawmakers Vote to Give Insurers a Tax Break
Apr 14 2008 // Georgia lawmakers couldn’t agree on cuts to property or incomes taxes this legislative session. But they did manage to usher through legislation to provide $146 million to insurance companies over five years. The...
California Workers’ Compensation Insurer in the Midst of Change
Apr 11 2008 // California State Compensation Insurance Fund has been facing many changes recently, but it has no intent to be the dominant player in the state workers’ compensation insurance market, according to Janet Frank,...
Report: Underwriting Hurt Insurers’ Bottom Lines in 2007
Apr 11 2008 // Steep declines in underwriting profits hurt bottom lines for property casualty insurers, which saw their 2007 profits slip slightly from a year earlier, a new report from three industry groups says. The industry’s...
Mississippi: Insurer Wants Sisters to Pay for Providing Katrina Claims Records to Scruggs
Apr 10 2008 // State Farm Fire and Casualty Co. wants a federal judge to sanction two sisters who secretly copied Hurricane Katrina claims documents and gave them to a Mississippi lawyer whose clients were suing the company. Cori and...
Agents Balk as Mass. Permits 6-Month Auto Insurance Policies
Apr 10 2008 // Massachusetts will permit auto insurers to sell six-month policies in another change under the state’s newly operational managed competition system that gives insurers more freedom and drivers more...
S&P Lowers Ratings on 4 Mortgage Insurers; Conference Call Today
Apr 9 2008 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit rating on four U.S. Mortgage insurers as follows: MGIC Investment Corp. to ‘BBB’ from ‘A-‘ and its...
Credit Agency Downgrades U.S. Mortgage Insurers
Apr 9 2008 // Standard & Poor’s Ratings Services Tuesday downgraded four U.S. mortgage insurers, including MGIC Investment Corp’s arm, citing a worse-than-expected housing slump. The credit agency said most companies...
Auto Insurer Progressive Reports Q1 Profit Down 34%
Apr 9 2008 // Progressive Corp., one of the largest U.S. auto insurers, Wednesday said first-quarter profit fell 34 percent, as premiums declined. Net income for the Mayfield Village, Ohio-based company dropped to $239.4 million, or 35...
S&P Warns Soft Market Could Mean Downgrades for Commercial Insurers
Apr 9 2008 // The U.S. commercial lines property/casualty insurance “soft” pricing cycle will likely mean outlooks on some commercial lines insurers will be revised to negative in the second half of 2008, according to...
Colorado Legislation Threatens Auto Insurance Savings, Insurers Say
Apr 8 2008 // The Colorado Legislature is considering a bill that would add bureaucratic red tape and costs to the state’s automobile insurance system, claims the Property Casualty Insurers Association of America (PCI), which is...
Mass. Law Blocks State Pension Fund from Starting Bond Insurer
Apr 8 2008 // The Massachusetts state pension fund cannot and should not start a bond insurer, executive director Michael Travaglini said Monday. Travaglini, who oversees the $52 billion Pension Reserves Investment Management Board,...
Insurers Keen on NCAA’s Basket-Full of Opportunities
Apr 8 2008 // The University of Kansas men’s basketball team may have been the big winner at last night’s NCAA championship — but when it comes to the NCAA’s bonanza of sponsorship benefits from basketball and...
$40M Assessments Irk New York Insurers
Apr 7 2008 // The New York Insurance Association is criticizing the state legislature’s passage of the portion of the 2008 budget which hikes assessments on insurers by $40 million – a 20 percent increase over last year, the...
Malpractice Insurer’s Insolvency Puts Dozens of N.J. Doctors at Risk
Apr 7 2008 // Dozens of New Jersey doctors could soon be personally liable for settlement payouts now that state officials have declared insolvent what once was the state’s largest malpractice insurance company. The insurer,...
Insurer Exemption From N.H. Consumer Protection Law Questioned
Apr 7 2008 // The mortgage crisis is prompting some people to take another look at New Hampshire’s consumer protection law. Six years ago, the Legislature changed the law to exempt the banking, insurance, public utilities and...
Insurers Keen on NCAA’s Basket-full of Opportunities
Apr 7 2008 // The Hartford and XL Insurance pursue insurance industry’s love affair with sports-related, 360-degree marketing Quite a few insurers’ names have been bounced and bandied about like basketballs on TV lately, and...
Push for Federal Regulation is Call Ror No Regulation
Apr 7 2008 // Editor’s Note: The following letter was sent to the president of American Insurance Association Gov. Marc Racicot. I read with interest your letter and news release calling for state insurance regulators to...
Insurers Could Pay Up to $730 Million for Cleanup
Apr 7 2008 // Nine insurance companies should cover the costs assessed to the former Appleton Papers Inc. for cleanup of the industrial chemical PCBs in the Lower Fox River, a jury recently decided. After a five-week trial, the jury...
