Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Facing More Frequent, More Expensive Lawsuits
Nov 18 2007 // The legal landscape may generally be changing for the better — but not necessarily for insurers, according to a recent survey by Fulbright & Jaworski. In its survey based on interviews with in-house counsel at 250...
TRIA Extension Must Pass Without NBCR Provision
Nov 18 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. Construction slowed...
Defeat for Insurance Industry; Wash. Voters Approve Referendum 67
Nov 18 2007 // Much to many insurance companies’ dismay, Washington voters approved Referendum 67, with 520,667 or 57 percent of voters in favor of the initiative to allow insureds to collect triple damages if their insurer...
Keep the McCarran-Ferguson Act Insurance Exemption
Nov 18 2007 // Federal antitrust laws are intended to ensure a competitive market by prohibiting companies from acting in concert with each other, such as through price-fixing or sharing arrangements that exclude other competitors. The...
New Players Enter the E&O Market … But Some Agents May Not See Rates Decline
Nov 18 2007 // Despite a rosier outlook in the agents’ errors and omissions (E&O) insurance market compared with years past, many insurance agents still faced rate increases in their E&O coverage in 2007 and anticipate...
Fitch Upgrades Markel International Ratings; Affirms Corporate Ratings
Nov 16 2007 // Fitch ratings announced that it has upgraded the Insurer Financial Strength (IFS) rating of Markel International Insurance Company (MIICL) to ‘A’ from ‘A-.’ Fitch also announced that it has affirmed...
S&P Reports Ratings Gap ‘Narrowing’ between Middle East & UK Insurers
Nov 16 2007 // Standard & Poor’s Ratings Services has published “How Middle East Non-Life Insurers Are Developing From A Rating Perspective: A Comparison With The U.K..” S&P initially stated: “Middle...
Fitch Report ‘Positive’ on Central America Insurers
Nov 15 2007 // According to a report from Fitch Ratings – “Central America Insurance Sector-” there are “positive trends in premiums and operating expenses,” in the region, which have increased...
American Vehicle Approved as Surplus Line Carrier in Calif.
Nov 15 2007 // Ft. Lauderdale, Fla.-based 21st Century Holding Co., an insurance holding company, announced that it’s subsidiary, American Vehicle Insurance Company, has received approval to begin writing commercial general...
Texas Insurer Group Awards Scholarships to 15 Students
Nov 15 2007 // The Education Foundation of the Insurance Council of Texas (ICT) has awarded academic scholarships to 15 students at Baylor University, the University of North Texas and the University of Texas at Austin, the insurer trade...
S&P Report on Bermuda’s Re/Insurers – Cautious, but Optimistic
Nov 14 2007 // Analysts from Standard & Poor’s Ratings Services have pit together an analytical report on Bermuda’s insurance and reinsurance industry, following what S&P sees as “another excellent...
Conn. Trial Lawyers Say Medical Liability Insurer is Overcharging Doctors
Nov 9 2007 // The Connecticut Trial Lawyers Association charged today that one of the state’s medical liability insurers has been charging doctors excessive premiums. The lawyers association released a new actuarial analysis that...
La. AG Sues Insurers, Alleges Price-Fixing and Conspiracy
Nov 9 2007 // Louisiana Attorney General Charles Foti is suing the state’s largest property insurance companies, accusing insurers of conspiring to limit payments to policyholders after hurricanes Katrina and Rita and engaging in...
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...
