Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
California’s mandatory investment reporting unnecessary, insurers say
Jul 3 2006 // California is considering legislation that would require insurers to report California community-related investments to the insurance commissioner every two years. AB 925, authored by Assemblyman Mark Ridley-Thomas, D, and...
Federal insurance antitrust exemption: Insurer, consumer friend or foe?
Jul 3 2006 // Congress opened debate on the insurance industry’s exemption from federal antitrust laws, with some larger insurers indicating a willingness to relinquish the exemption in exchange for regulatory reform that would...
California construct defect litigation creating perfect storm
Jul 3 2006 // In The Perfect Storm, the book that inspired the movie of the same name, author Sebastian Junger defined “the perfect storm” as a tempest that may happen only once in a century, a storm created by so rare a...
Exemption protection
Jul 3 2006 // The U.S. Senate Judiciary Committee last month received testimony on whether to continue the insurance antitrust exemption contained in the 1945 McCarran-Ferguson Act. This law placed responsibility for insurance...
Healthcare liability moves beyond hospitals to specialized facilities
Jul 3 2006 // Someone once said “change is inevitable” and in the health care arena that especially rings true. It wasn’t so long ago that the only place a person would go for immediate treatment was the emergency room...
Risk mixing and matching with miscellaneous health care facilities
Jul 3 2006 // Someone once said “change is inevitable,” and in the health care arena that truism rings a bell. It wasn’t so long ago that the only place a person would go for immediate treatment was the emergency room...
California Commissioner Questions Homeowners’ Insurance Rates
Jun 30 2006 // California Insurance Commissioner John Garamendi has announced he will approve an 18 percent decrease in homeowner and renter premium rates by The Hartford Insurance Co. The Hartford’s filing for a decrease contrasts...
Texas Enforcement Actions in May Result in More than $224K in Fines
Jun 30 2006 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during May. The actions include eight license revocations and fines and restitution totaling...
New ‘NASDAQ Global Select Market’ Tier Lists Insurers
Jun 28 2006 // The NASDAQ Stock Market has released the names of approximately 1200 companies who will be included in its new “NASDAQ Global Select Market” tier, which will become effective July 3. The new tier “has the...
Pending Bills Undermine Calif. Workers Comp Reforms, Insurers Say
Jun 28 2006 // Three measures awaiting approval by a key state Senate committee would undermine recent reforms that have improved California’s workers compensation system, according to Sam Sorich, president of the Association of...
U.S. P/C Industry Posts Record 1Q Profits; Net Gain on Underwriting Rises Nearly 21%
Jun 28 2006 // The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio — a key...
Insurer Group Names McKay as SVP, Federal Relations
Jun 27 2006 // The Property Casualty Insurers Association of America has hired Benjamin J. McKay III as senior vice president of federal government relations in its Washington, D.C. office. Prior to his arrival at PCI, McKay served as...
Insurer Group Sets Policy on Natural Disaster Issues
Jun 26 2006 // The National Association of Mutual Insurance Companies (NAMIC) has adopted a statement on natural disasters that asserts a flexible regulatory environment in which insurers are free to price coverage based on risk will...
World Trade Center Developer, Port Authority Sue Insurers
Jun 26 2006 // The Port Authority of New York and New Jersey, together with World Trade Center developer Larry Silverstein, is suing seven insurers over delays in payments they say are needed to rebuild on the site of the Sept. 11, 2001...
Best Assigns VASCO Re Debt Rating
Jun 22 2006 // A.M. Best Co. has assigned a debt rating of “bb” to the $50 million senior secured floating rate notes, due June 5, 2009, issued by VASCO Re 2006 Ltd. (the issuer), a newly created Cayman Islands exempted...
Federal Insurance Antitrust Exemption: Insurer, Consumer Friend or Foe?
Jun 22 2006 // Congress opened a fresh debate on the insurance industry’s exemption from federal antitrust laws this week, with some larger insurers indicating a willingness to relinquish the exemption in exchange for regulatory...
Market Still Fragile as La. Legislature Adjourns, Insurer Group Says
Jun 22 2006 // In the wake of hurricanes Katrina and Rita the 2006 Louisiana legislative session was very contentious; however, lawmakers rejected the proposals that would have been detrimental for consumers and the insurance...
California’s Mandatory Investment Reporting Unnecessary, Insurers Say
Jun 22 2006 // Legislation, sponsored by California Insurance Commissioner John Garamendi is unnecessary, will increase costs and will further complicate data collection, said the American Insurance Association (AIA). AB 925, authored by...
Best Upgrades ‘PD’ Ratings of 12 Canadian P/C Insurers
Jun 20 2006 // A.M. Best Co. has upgraded the public data (pd) financial strength ratings of 12 property/casualty Canadian insurers. The bulletin noted that “pd ratings are based solely upon public information and present the most...
S&P Rates Kazakhstan Insurer ‘B+’
Jun 20 2006 // Standard & Poor’s Ratings Services has assigned its “B+” long-term counterparty credit and insurer financial strength ratings and its “kzBBB” Kazakhstan national scale rating to...
