Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Okla.-based Insurer Ordered to Pay $10.8M to Policyholder’s Mother
Feb 4 2008 // A federal jury has ordered an Oklahoma City-based insurance company to pay $10.8 million for improperly reducing the benefit owed to the mother of a policyholder who died. American Fidelity Assurance Co. said it was...
N.Y. Bond Insurer Rescue Plan Seen as a Tough Sell but Important
Feb 1 2008 // Advisory firm Perella Weinberg Partners, hired by New York state to help find investment capital for cash-strapped bond insurers, is facing both skeptical lenders and time constraints. The situation is so dire, however,...
N.Y. Agents and Insurers Laud Workers’ Comp Loss Cost Rating Bill
Feb 1 2008 // New York State agents and insurers praised the passage late last month of a key workers compensation reform that will extend the rate-making authority of the New York Compensation Insurance Rating Board, and move the...
GAO Urges Changes in Wind, Flood Damage Determinations
Feb 1 2008 // Government adjusters trying to assess the accuracy of flood claims payments from the 2005 hurricane season were hampered by a lack of access to data on wind damage from the National Flood Insurance Program and private...
Wis. Senate Passes Bill to Ban Use of Credit Scoring by Insurers
Feb 1 2008 // Insurance groups are criticizing passage of Senate Bill 259 by the Wisconsin Senate late on Thursday, Jan. 31st. Senate Bill 259 would forbid insurers from considering information in an individual’s credit report for...
Insurers Say Property, Flood Insurance, Regulation Top Concerns in ’08
Feb 1 2008 // A group of insurers says it hopes U.S. lawmakers will continue to focus on the need for affordable property insurance, an optional federal charter for the insurance regulatory system in America, and comprehensive flood...
Miss. Couple Weighs Appeal in Katrina Case after Verdict Favors Insurer
Jan 31 2008 // A Mississippi homeowner whose lawsuit over Hurricane Katrina damage ended with a jury verdict that favored his insurance company said Tuesday he has no plans to file an appeal in the case. On Monday, an eight-member jury...
Aon Publishes Marine Report
Jan 31 2008 // Aon has released its “2008 Marine Insurance Market Review,” which concludes that the “marine industry is set for a continued run of favorable insurance premiums in 2008, despite facing higher risks. The...
TDI December Enforcements Result in Nearly $1.6M in Fines, Restitution
Jan 31 2008 // Enforcement actions taken by the Texas Department of Insurance December 2007 resulted in eight license revocations, four license denials, and fines and restitution totaling $1,591,264, the department reported. An order...
Mississippi Jury’s Verdict in Katrina Case Favors Insurance Company
Jan 30 2008 // A federal judge refused to let Mississippi jurors consider punitive damages against an insurance company after they handed down a verdict Monday that favored the insurer in a dispute with policyholders over Hurricane...
Mass. AG Loses Another as Hanover’s Auto Insurance Filing is Cleared
Jan 30 2008 // Massachusetts Attorney General Martha Coakley has lost another skirmish in the battle over regulation of 2008 auto insurance rates. Insurance Commissioner Nonnie Burnes has upheld the rate filing of Hanover Insurance,...
10 Tips for Mass. Insurance Agents Moving into Competitive Market
Jan 29 2008 // Massachusetts independent agents are facing a challenge to hang onto their whopping 86 percent market share in personal lines as the state embarks upon a new competitive auto insurance system that will bring some of the...
Insurers Oppose Mich. Governor’s Consumer Advocate Proposal
Jan 29 2008 // A proposal by Michigan Governor Jennifer Granholm to create a state automobile and homeowner insurance consumer advocate is being called “unnecessary and duplicative,” by one property/casualty insurance trade...
Bond Market Woes Could Endanger Municipal Construction
Jan 28 2008 // If the struggling bond market is saved by a potential bailout, turbulence in the stock market could ease — but without a bailout, cities across the country could have difficulty building everything from sewers to...
Insurers to Fight Credit Scoring Ban on Colo. House Floor
Jan 28 2008 // Legislation that would prohibit insurers’ use of credit information narrowly advanced out of the Colorado House Business Affairs and Labor Committee Thursday on a 6-5 vote. According to the Property Casualty Insurers...
Mass. Allows Rates and Commissions of 2 Largest Auto Insurers
Jan 28 2008 // The two largest auto insurance writers in Massachusetts have been given the green light to use the rates they filed for 2008 in rulings that characterize the state attorney general’s objections as...
La.’s Valued Policy Law: New Teeth for Hurricane Claims?
Jan 27 2008 // Property damage from hurricanes primarily comes from two sources: wind and water. Insurance coverage for property damaged by wind, and by rain water which enters the property as a result of wind damage, is generally...
5 Carriers Receive $29 Million in La. Incentive Grants
Jan 27 2008 // Department to accept next round of applications Feb. 4 through Mar. 3 At a Jan. 11 press conference, Louisiana Commissioner of Insurance Jim Donelon and then-Gov. Kathleen Babineaux Blanco handed out $29 million in grants...
Lloyd’s Defends Insurers Against ‘Spoilsport’ Image
Jan 27 2008 // An increasingly common complaint against the insurance industry charges that it is largely responsible for the disappearance of traditional events and activities due to the unavailability and/or the increasing cost of...
Consumer Group Claims Insurers Overcharge, Underpay Policyholders
Jan 27 2008 // Insurers defend recent years’ profits, deny allegations and call national consumer group’s report ‘fatally flawed’ A national consumer organization has charged that property casualty insurers are...
