Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Mass. Lawmakers Anxious About Auto Change, Socioeconomic Factors
Aug 14 2007 // Massachusetts lawmakers are anxious about the Patrick Administration’s decision to try competitive rating in auto insurance in 2008 but have stopped short of asking Insurance Commissioner Nonnie Burnes to halt her...
Fla. Cancels Two Insurers’ ‘True-Up’ Rate Filing Requests
Aug 13 2007 // The Florida Office of Insurance Regulation disapproved Metropolitan Casualty Insurance Co.’s and Metropolitan Property & Casualty Insurance Co.’s rate filings because they lacked the legally required...
La. Judge: No Basis for Suit to Make State Sue Insurance Companies
Aug 13 2007 // A judge in Baton Rouge, La., threw out a request to make state officials sue insurance companies for hurricane repairs on public property, saying the suit neither named any companies to sue nor listed any specific damaged...
Ind. Court Agrees with Insurance Company in Bob Knight Lawsuit
Aug 10 2007 // Bob Knight isn’t entitled to collect insurance to recoup money he paid to settle a lawsuit stemming from his 1999 confrontation with a former assistant at Indiana University, the Indiana Court of Appeals ruled on...
St. Bernard Parish, La., Considers Suing Insurance Companies
Aug 10 2007 // The St. Bernard (Louisiana) Parish Council has hired a Chalmette law firm to explore litigation against two of the parish’s insurers. Any lawsuit must be filed by Aug. 29, the second anniversary of Hurricane...
AIG to Acquire German Insurer, Wuba
Aug 10 2007 // American International Group, Inc. (AIG) reports it is stepping up its presence in the German insurance market by acquiring a German insurer that offers coverage for small and medium firms. A subsidiary of AIG is acquiring...
Montana To License 30th Captive Insurance Company
Aug 9 2007 // Montana captive regulatory officials announced that the state is scheduled to license its 30th captive insurance company before the end of the year. According to the Montana Captive Insurance Association Inc., that news...
8 More Insurers Sign Up as Sponsors for Agent Branding Program
Aug 9 2007 // Eight more insurance companies have signed on as sponsors of the National Association of Professional Insurance Agents’ award-winning agent branding program, Local Agents Serving Main Street America.S PIA announced...
N.Y. Regulator Expects All Insurers at Pandemic Flu Exercise in Sept.
Aug 9 2007 // The New York State Insurance Department today said that it expects all insurance companies in the state to participate in an exercise next month to evaluate the readiness of the nation’s financial services to survive...
S&P Report Analyzes U.S. Insurers Hurricane Readiness
Aug 8 2007 // So far the U.S. hurricane season has been remarkable for its absence, but Standard & Poor’s Ratings Services questions whether that trend will continue. In a report, entitled “Are U.S. Insurers Ready If...
Best, S&P Lower Conseco’s Ratings as Run-off Losses Continue
Aug 8 2007 // A.M. Best Co. and Standard & Poor’s Ratings Services have both lowered their respective ratings on Conseco Inc., following the Company’s announcement of further losses in its Conseco Senior Health...
Start-Up Specialty Insurer in Conn. Completes $279 Million in Funding
Aug 8 2007 // SPARTA Insurance Holdings, Inc. reports that it has closed its contractual arrangements for funding in the amount of $279.1 million of private equity capital from a consortium of investors led by Corsair Capital, and...
U.S. May Join Lawsuit Claiming Insurers Defrauded Government Over Katrina Claims
Aug 8 2007 // The U.S. Department of Justice is weighing whether to intervene in a lawsuit that accuses insurance companies of overbilling the federal government for flood damage from Hurricane Katrina, a judge who unsealed the case on...
Mass. Auto Competition: Commerce Pulls U-Turn; Will Geico Field a Team?
Aug 8 2007 // Giant direct auto insurance seller Geico has been airing ads on Boston Red Sox radio broadcasts even though it does not do business in Massachusetts. The radio games are broadcast across New England and the Northeast so...
La. Independent Agents Group CEO Lauds Flood Limitation Rulings
Aug 8 2007 // The CEO of a major insurance agent trade group in Louisiana says two recent federal appeals court decisions affirming flood limitations in property policies will enhance the state’s recovery from Hurricane...
Marsh Cleared to Accept Insurer Fees
Aug 8 2007 // New York insurance officials and the attorney general’s office have agreed to let big insurance broker Marsh accept some fees from insurance companies for work on processing and servicing of accounts. The approval...
Mass. Court Rules Excess Insurer Not Bound by Primary Insurer Settlement
Aug 7 2007 // An insurer of a so-called “follow form” excess policy is not bound by the decision of a primary insurer to settle a claim, the Massachusetts Supreme Judicial Court has ruled. The state’s highest court...
S&P: Capital Management, ERM, Solvency II Concern European Insurers
Aug 7 2007 // Standard & Poor’s Ratings Services analyzes plans to pay back capital, maximizing ROEs and the lack of opportunities to deploy capital effectively in a new report – “Capital Management, Enterprise...
Katrina at Two Years: $40.6 Billion Paid on 1.7 Million Insurance Claims
Aug 7 2007 // Two years later, the “overwhelming majority of claims” in Gulf Coast states from Hurricane Katrina have been settled in what has been the single largest loss — $40.6 billion — in the history of the...
How to write energy risks in a volatile world
Aug 6 2007 // The world has experienced rapid and profound changes in recent years, and the energy industry has been no exception. Climate changes (including global warming), market fluctuations, ever-increasing business mergers and...
