Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Sticking up for the little guys
Oct 9 2006 // Somewhat akin to Rodney Dangerfield, smaller agents don’t seem to get any respect — or at least not as much respect as their larger counterparts. It is becoming difficult to keep the carriers they currently...
Mike Kreidler, Washington, Insurance Commissioner
Oct 9 2006 // The Washington Office of the Insurance Commissioner is a vigorous protector of consumers under the leadership of Commissioner Mike Kreidler. From maintaining a trust relationship between consumers and insurers, to...
Getting to know your agency’s E&O
Oct 9 2006 // Insurance agents’ errors and omissions policies are not created equal. An agent who purchases E&O based solely on price may experience a rude awakening when it’s time to report a claim. Here are just a few...
Terrorism insurance market hits federal radar
Oct 9 2006 // Two new federal reports have found that the long-term development of the private terrorism insurance market remains at best uncertain due to the unpredictable nature of terrorist attacks. Both reports acknowledged that a...
State regulators, insurer trades spar at Congressional hearing on insurer investments
Oct 9 2006 // The National Association of Insurance Commissioners President and Maine Insurance Superintendent Alessandro A. Iuppa told a House Financial Services Subcommittee panel last month that strong financial regulation of...
The Future for Agents’ E&O
Oct 9 2006 // David Duncan of David C. Duncan Insurance Services in Rancho Santa Margarita, Calif., is worried about whether and how much the cost of his agency errors and omissions insurance might go up next year. Duncan started his...
Castle Point Names Doyle President, CEO of Reinsurance; Dale to Head Management Unit
Oct 6 2006 // Bermuda-based CastlePoint Holdings, Ltd. has announced the appointment of Gregory T. Doyle as President of CastlePoint Holdings and CEO of CastlePoint Reinsurance Company, Ltd. He will also serve as a Director of...
Former Insurance Company Officers Sentenced to Six Years in Okla.
Oct 6 2006 // A federal judge has sentenced two men to six years in prison for their roles in the failure of a Tulsa, Okla. insurance company. Besides prison terms for convictions on embezzlement, wire fraud and money laundering...
Doctors Company to Acquire Ohio OHIC Med Mal Insurer
Oct 6 2006 // Napa, Calif.-based The Doctors Company, a physician-owned medical malpractice insurance provider, announced that it has entered into an agreement to acquire OHIC Insurance Company (OHIC), a leading medical liability...
Auto Premium Rating Error Cost U.S. Auto Insurers More Than $16 Billion
Oct 3 2006 // San Francisco-based Quality Planning Corp., the rating integrity solutions company, today released its annual Premium Rating Error report, showing premium rating errors remain a drag on auto insurer profitability. QPC...
Trade Group: Mich. Enacts Positive Reforms to Guaranty Fund Coverage
Oct 3 2006 // Michigan recently enacted a series of positive reforms to the Michigan Property Casualty Guaranty Association Act that among many things adds a large deductible provision which clarifies the rights of the receiver and...
Treasury Report on Terrorism Insurance Says Backstop Negatively Affects Private Capacity
Oct 3 2006 // A new federal report has found that the long-term development of the private terrorism insurance market remains at best uncertain due to the unpredictable nature of terrorist attacks. The President’s Working Group on...
State Farm Wants Katrina Trial Moved, Claiming Jury Pool Bias in Miss.
Oct 3 2006 // The jury pool in south Mississippi has been tainted by “media propaganda” about the insurance industry’s handling of claims after Hurricane Katrina, a major insurer argued in a bid to move the trials for...
Praetorian Completes Acquisition of Specialty Insurer Alea
Oct 2 2006 // Praetorian Financial Group, Inc., itself a specialty insurer, said it has completed the acquisition of Alea North America Specialty Insurance Company (ANASIC), which following regulatory approval will be renamed Praetorian...
P/C Insurers’ Profitability Drops in First-Half of 2006
Oct 2 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...
R&M Report Finds Almost Half of Insurers Use Outsourcing
Sep 27 2006 // Dublin-based consultants Research and Markets have announced the addition of “BPO and Sourcing Trends in Insurance (Customer Focus)” to their offering. The study concludes that the use of outsourcing continues...
Industry to Congress: Permanent Solution to Terrorism Insurance Vital
Sep 27 2006 // Insurers, agents and business groups called on Congress to create a permanent solution safeguarding the economy against future terrorist attacks at congressional hearing today, “Protecting Americans from Catastrophic...
Insurer Opposes Award to R.I. Man for Malfunctioning Penile Implant
Sep 26 2006 // A former handyman from North Providence, Rhode Island, who won more than $400,000 in a lawsuit over a malfunctioning penile implant may not get the money after a judge dismissed his claim. Superior Court Judge Edward C....
Insurers Reject Notion of TRIA Renewal for Nuclear-Biological Terrorism Risk Only
Sep 26 2006 // A new federal government report concludes that a totally private market solution to insuring against certain terrorist attacks is unlikely in the near future. The report covers the risk of nuclear, biological, chemical or...
The Commissioners
Sep 25 2006 // Hawaii:Perfectly poised for insurers in the Pacific Rim Although it is undeniably one of the 50 United States, Hawaii’s location at the edge of the Pacific Rim yields creative business opportunities throughout the...
