Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
AXA to Buy Korean Direct Auto Insurer
Mar 19 2007 // France’s Axa Group announced that it has reached an agreement with Kyobo Life to acquire its 75 percent stake in Kyobo Auto, a major South Korean direct automobile insurer. The announcement did not state the purchase...
Conn. Municipal Insurer Names Wollschlager
Mar 19 2007 // Bruce A. Wollschlager has assumed the roles of president and chief executive officer at the Connecticut Interlocal Risk Management Agency, a program of the Connecticut Conference of Municipalities that provides...
Okla. Commissioner: Faith-based Benefit Firm Considered an Insurer
Mar 16 2007 // A Tulsa, Okla.-based Christian organization that pools member money to pay medical bills, but says it isn’t an insurance company, is still going to be treated like one, a state official said. Medi-Share, a Christian...
Mass. Would Be First to Require Insurers Offer Drug Coverage
Mar 15 2007 // Massachusetts would become the first state in the nation to essentially require all insurers provide prescription drug coverage, under recommendations made Tuesday to the board overseeing the state’s landmark health...
Insurer Argonaut, Reinsurer PXRE to Merge, Forming Argo Group
Mar 15 2007 // Argonaut Group, Inc., a specialty underwriter, and PXRE Group Ltd., a Bermuda-based property reinsurer, have agreed to a merger under which the combined entity will do business as Argo Group International Holdings...
WTC Builders Tell 2 Insurers to Stop Stalling and Pay Up
Mar 14 2007 // World Trade Center builders rallied with hundreds of construction workers Monday to protest stalled payments by two insurers, saying their failure to pay is jeopardizing ground zero rebuilding. Trade center developer Larry...
Fla. Insurers Receive ‘Presumed Factor,’ Must File Rates
Mar 12 2007 // All residential insurers in Florida must make a filing containing new rates by March 15 to become effective for new or renewal policies beginning June 1 and thereafter on the renewal date of the policy. Insurers are also...
La.’s Citizens Agrees to Mass Settlement of Hurricane Suits
Mar 12 2007 // Louisiana’s state-run insurer has agreed to a mass settlement with more than 100 policyholders, a deal believed to be the first of its kind in the state since hurricanes Katrina and Rita spawned thousands of...
La. Officials Try to Allay Wall Street Concerns About Insurer
Mar 12 2007 // Louisiana officials tried to ease Wall Street worries on Mar. 8 about the state-run insurer of last resort, whose financial records are in disarray and possibly lost for the last year and a half. State Treasurer John...
La. Isn’t the Only Coastal State With Insurance Troubles
Mar 12 2007 // Eighteen months after the hurricanes, “crisis” is the term everyone uses to describe Louisiana’s insurance problems. The governor spends much of her time begging insurance companies to continue doing...
Conn. AG probes insurer, agency relationship
Mar 12 2007 // Connecticut Attorney General Richard Blumenthal has issued subpoenas in an investigation of bonus commissions and other possible financial arrangements between Middlesex Mutual Assurance Co. in Middletown and H.D. Segur...
What lies ahead for agency compensation? Agents could benefit from incentive pay plans replacing contigent income
Mar 12 2007 // Incentive pay plans for agents that some insurers are implementing to replace discontinued contingency compensation could work out better for agents than the programs they are replacing. A handful of major carriers banned...
Mass. health insurers agree on $175 a month plan under new law
Mar 12 2007 // The average uninsured Massachusetts resident could obtain health care coverage for as little as $175 a month under the state’s insurance law, Gov. Deval Patrick announced as he released the results of negotiations...
Tim Wagner, Nebraska, Director of Insurance
Mar 12 2007 // Director of Insurance L. Tim Wagner has spent close to 40 years in the insurance industry, the last nine as the appointed Nebraska regulator. He takes his role seriously and believes the insurance industry has a real...
Should D&O insurers have a loss prevention role?
Mar 12 2007 // Why don’t directors and officers insurers insist on corporate governance reform from their insureds as a precondition of coverage, the way property and workers’ compensation insurers condition their coverage on...
News Currents
Mar 12 2007 // Insurers lose steam in auto rate reg fight A California Superior Court judge has thrown out a lawsuit that challenged rules requiring auto insurers to base their rates primarily on drivers’ records instead of where...
What lies ahead for agency compensation?
Mar 12 2007 // Incentive pay plans for agents that some insurers are implementing to replace discontinued contingency compensation could work out better for agents than the programs they are replacing. A handful of major carriers banned...
Insurance Company Sues Contractor Behind Botched I-84 project in Conn.
Mar 8 2007 // The insurance company that guaranteed a contractor’s work on the apparently botched widening of Interstate 84 in the Waterbury area is suing, claiming company officials siphoned off millions of dollars for personal...
Maine Insurance Company not Liable in Avon Mountain Crash
Mar 8 2007 // A federal judge has ruled that the insurance company for a Bloomfield trucking company involved in a fiery fatal crash on Avon Mountain does not have to pay victims and families of those killed. The ruling involves...
New Insurer Caters PUREly to Florida High Net Worth Clientele
Mar 7 2007 // Florida’s wealthy and privileged residents have a new personal lines insurer promising to save them money on premiums for their homes, cars and belongings. The company will sell property/casualty insurance for high...
