Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Six Insurers Apply for $34 Million in La. Incentive Grants
Nov 8 2007 // Six insurance companies, including two newcomers to Louisiana, have applied for $34 million in matching grants from state government, in a program aimed at getting more insurers to write policies along the coast. Insurance...
N.Y. Weighs Having Residual Insurer NYPIUA Offer Surety Bonds
Nov 8 2007 // New York is considering having its residual market property insurance association offer surety bonds. Superintendent of Insurance Eric R. Dinallo said he will hold a public hearing to determine whether he will require the...
Florida Insurer Group Elects Coral Gables Agent President
Nov 7 2007 // Professional Insurance Agents of Florida elected Phil Zelman president of the board effective Oct. 1. A member of PIA since 1999, Zelman is vice president and co-owner of NCF Insurance Associates in Coral Gables, Fla., and...
PCI Insurers Urge State Regulators to Drop Securities Rating Assessment
Nov 7 2007 // The Property Casualty Insurers Association of America (PCI) is urging the National Association of Insurance Commissioners (NAIC) to eliminate the annual $1.58 million Securities Valuation Office (SVO) industry...
Fitch Releases ‘Prism Scores’ for 99 U.S. Insurance Groups
Nov 7 2007 // Fitch Ratings has released a new report outlining the “Prism scores” for 99 U.S. life and non-life insurance groups using 2006 year-end data. “Prism is Fitch’s global stochastic economic capital...
Will Mass. Give Thanks for Managed Competition or Rate It a Turkey?
Nov 7 2007 // Massachusetts has three dates coming up that could be turning points in determining who gives thanks for the state’s new managed competition auto insurance system and who rates it a turkey. Insurance Commissioner...
Defeat for Insurance Industry; Wash. Voters Approve Referendum 67
Nov 7 2007 // Much to many insurance companies’ dismay, Washington voters approved Referendum 67 yesterday, with 520,667 or 57 percent of voters in favor of the initiative to allow insureds to collect triple damages if their...
S&P Examines Europe’s Insurers Exposure to ‘Credit Crunch’
Nov 6 2007 // Standard & Poor’s has published an “Industry Report Card” on Europe’s insurers, which examines their situation “in the aftermath of the subprime credit crunch,” the findings of an...
Montpelier Re Completes U.S. Surplus Lines Acquisition
Nov 6 2007 // Bermuda-based Montpelier Re Holdings Ltd. announced that Montpelier US, its Hartford-based subsidiary, has completed the purchase of a US Excess & Surplus lines insurance company after receiving regulatory approval...
Catastrophe Modeling Pioneer Clark Advises on Insurers’ Best Practices
Nov 6 2007 // Karen Clark & Co. in Boston has started providing reviews of company internal catastrophe risk assessment and management processes to help companies ensure they have holistic risk management processes that comply with...
Insurors of Tennessee Names Hoover Young Agent of the Year
Nov 6 2007 // At a ceremony that took place at The Vanderbilt Legends Club in Franklin, Tennessee, Insurors of Tennessee recognized Chip Hoover as the Arch E. Northington Young Agent of the Year . Hoover is principal agent of AGA Hoover...
Transitions … from judge to regulator, from regulated to competition
Nov 4 2007 // Massachusetts Insurance Commissioner Nonnie Burnes has taken on the minefield of private passenger auto insurance, overseeing a transition from a highly-regulated rating system to one under which insurance companies are to...
News Currents
Nov 4 2007 // N.Y. department prevails in liquidation bureau audit New York state’s highest court has ruled that the state auditor does not have the authority to audit an obscure division of a state agency managing $3.3...
Small market share insurers file 2.5% decrease
Nov 4 2007 // 10 Mass. caps auto hikes at 10% Because the shooter was in an uninsured car, says N.J. court 12 Driving the transition An interview with Mass. Commissioner Burnes N1 Survey reports drop in new lawsuits Actions filed...
News Currents
Nov 4 2007 // Mass. caps car insurance hikes at 10%; smaller insurers eye 2.5% cut The first moves toward competitive rating for auto insurance in Massachusetts indicate that rates for drivers insured by insurers with small market share...
British D&O insurer asks N.Y. court to confirm that former Tyco chief owes $2 million
Nov 4 2007 // A British insurance company has asked a New York state court to confirm an arbitration award that directs imprisoned corporate thief L. Dennis Kozlowski, former head of Tyco International Ltd., to pay nearly $2 million...
TRIA extension must pass without NBCR provision
Nov 4 2007 // After the terrorist attacks of Sept. 11, 2001, the market for commercial property and liability insurance in large urban areas was in turmoil, as reinsurance for terrorism became expensive and scarce. Congress responded in...
N.Y. court set to rule in key underinsured motorist benefits case
Nov 4 2007 // Whether serious injury is required to be demonstrated for an insured to be entitled to supplementary underinsured motorist benefits (SUM) was recently argued before New York’s Court of Appeals. On October 9, 2007,...
Whistleblower lawsuit against insurers dismissed
Nov 4 2007 // A federal judge has thrown out a so-called “whistleblowers'” lawsuit that accuses insurance companies of overbilling the federal government for Hurricane Katrina’s flood damage to Louisiana homes. Allan...
Insurers Used Variety of Resources to Reach Out to Fire Victims
Nov 4 2007 // In the midst of the blazing wildfires that overwhelmed seven Southern California counties in October, insurance companies sprung into action. Most said they had learned from past catastrophes and that preparation was key...
