Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers defend use of education, job criteria in rating in Florida
Feb 25 2007 // News Currents Insurers are defending the factors they use in pricing auto insurance, including the occupation and education levels of insureds, arguing that the criteria have been actuarially tested for their ability to...
News Currents
Feb 25 2007 // Report: Customer satisfaction doesn’t guarantee loyalty The insurance industry needs to improve its customer retention strategies, because a satisfied customer isn’t always a loyal one, according to the World...
A look behind the very good P/C results for 2006
Feb 25 2007 // News Currents The numbers, or es-timates, for the property casualty insurance industry for 2006 are in, and Dr. Robert Hartwig, president and chief economist of the Insurance Information Institute, discussed them with...
Reaping the wind will be the responsibility of insurers
Feb 25 2007 // There seem to be many questions on the minds of consumers, agents and public policy makers about coastal insurance issues presently and in the future. As an industry, we have been forthright about insurance issues facing...
Katrina lawsuits: Are the winds of fortune changing for insurers?
Feb 25 2007 // In the immediate aftermath of Hurricane Katrina when it became apparent that property losses would total billions of dollars, the insurance industry was understandably concerned that courts in Mississippi and Louisiana...
Utah’s captive industry grows; number of insurers rose 114.3% in 2006
Feb 25 2007 // The Utah Insurance Department has announced a 114.3 percent increase in the number of licensed captive insurers in 2006. As of Dec. 31, 2006, assets of Utah captive insurance companies totaled approximately $41.4 million,...
Should D&O insurers have a loss prevention role?
Feb 25 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...
Case Law Watch
Feb 25 2007 // Attorneys Fees State Farm Mutual Automobile Insurance Co. v. Lestenkof (Alaska, Sept. 29, 2006) Ruling: In this case, the court considered whether an auto insurer must pay unlimited (Alaska Civil Rule 82) attorney’s...
A look behind the very good property/casualty results for 2006
Feb 25 2007 // News Currents The numbers, or estimates, for the property/ casualty insurance industry for 2006 are in. Dr. Robert Hartwig, president and chief economist of the Insurance Information Institute, sat down with Insurance...
8 Agents welcome windstorm debate
Feb 25 2007 // Insurers warn against subsidies 10 Safeco to cut homeowners, commercial rates 200,000 Calif. customers to benefit, company says 10 Ariz. lawmakers move to raise burden of proof on ER suits Identical bill vetoed by Gov....
Congress gets bipartisan bills to repeal insurance antitrust immunity
Feb 25 2007 // News Currents Sen. Patrick Leahy, D-Vt., chairman of the Judiciary Committee, joined with Senate Democratic and Republican leaders earlier this month to introduce a bipartisan bill that would strip the insurance industry...
Coming To The Rescue
Feb 25 2007 // Bernd (Bernie) G. Heinze, executive director of the American Association of Managing General Agents (AAMGA), recalls a perfect example of the regulatory difficulties the surplus lines industry faces. A colleague at a...
S&P Reports Japanese Insurers Facing Increasing Scrutiny
Feb 23 2007 // Standard & Poor’s Ratings Services said in a new report that the risk management practices and internal control policies of Japan’s insurers are coming under increasing scrutiny following a series of...
R.E. Chaix Adds Two Carriers for P/C Risks
Feb 22 2007 // Irvine, Calif.-based R.E. Chaix & Associates announced it has finished negotiations to add two new carriers for in-house binding for property and casualty risks. Both carriers are non-admitted and both have...
Wis. Court Says Insurance Company Should Pay for Mistreating Trucker
Feb 22 2007 // A jury properly awarded a northeast Wisconsin trucker $115,000 to punish his insurance company for how it handled his claim after his semi-truck hit a deer, a state appeals court ruled this week. The insurance company...
Ind. Senator: Insurers Should Be Voice on Energy Alternatives, Climate Changes
Feb 22 2007 // If the United States is to move beyond a petroleum-based economy, it will require a stronger commitment by government, industry, and non-governmental leaders, U.S. Sen. Richard G. Lugar said recently in a wide-ranging...
Insurers Drop Court Challenge as Fla. Clarifies Cancellation Ban
Feb 21 2007 // Insurance companies dropped a court challenge this week to a new Florida rule preventing them from immediately canceling some homeowners policies or raising rates. The rule, which took effect Jan. 31, is a stopgap until a...
Lawyer: La. Citizens Nearing Mass Settlement of Hurricane Suits
Feb 21 2007 // Louisiana’s state-run insurer is nearing a mass settlement with policyholders that would be the first deal of its kind in the state since hurricanes Katrina and Rita spawned thousands of lawsuits, an attorney for the...
Insurers Hail Supreme Court’s Curtailing of Punitive Damages
Feb 21 2007 // Yesterday’s U.S. Supreme Court 5-4 decision throwing out $79.5 million in punitive damages, a victory for cigarette maker Philip Morris, is also being seen as a victory by the insurance industry. In the case, Philip...
Chicago Exchange, Carvill Ready Hurricane Futures for Insurers
Feb 20 2007 // The Chicago Mercantile Exchange, the largest derivatives exchange in the United States, announced last week that it is launching contracts that will allow insurers and others to hedge risk against hurricane damage. The...
