Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
CII Survey Examines Changes in Broker/Insurer Relations
Jan 20 2006 // The U.K.’s Chartered Insurance Institute’s (CII) Faculty of Insurance Broking, in conjunction with Oracle, the enterprise software company, has issued a new study – ” Opinion Leader Research: Broker...
Commerce Group CEO Remillard to Retire in July; Fels Will Succeed Him
Jan 19 2006 // Arthur J. Remillard, Jr., the founder and chief executive officer of The Commerce Group, Inc., announced his intention to retire at the end of July of this year, culminating a 40 year career in the property and casualty...
Florida Office of Insurance Regulation Issues AIG Companies Consent Order
Jan 19 2006 // The Florida Office of Insurance Regulation has issued a consent order requiring 10 American International Group companies to transmit financial data required by statute, to pay administrative fines and costs of more than...
Maryland Court Rules with Welders in Limiting Scope of Pollution Exclusion
Jan 19 2006 // On Jan. 6, Maryland’s highest court handed a victory to the welding industry by ruling that the scope of the pollution liability exclusion in a business insurance policy does not encompass welding rod liability. In...
Best Affirms FSR for Clarendon Group
Jan 18 2006 // A.M. Best Co. has assigned a financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” to the newly formed Praetorian Financial Group (Praetorian) (Wilmington, Del.) and its...
ISO Providing New Service for Insurers to Access Natural CAT Information
Jan 18 2006 // A new service from ISO’s LOCATION geographic information system is now available to help insurers better manage their exposure to natural catastrophes for more profitable underwriting decisions. Developed by AIR...
N.J. Court Upholds Claims-Made Policy Where Insured Refused ‘Lookback’
Jan 17 2006 // In what lawyers say is a precedent-setting decision, a New Jersey court has ruled that a claims-made insurance policy that did not include retroactive coverage does not violate public policy and is enforceable. An...
Texas Supreme Court to Reconsider Decision in Insurance Case
Jan 17 2006 // On Jan. 6, the Texas Supreme Court agreed to rehear an insurance case watched closely by policyholders nationwide. In Excess Underwriters at Lloyd’s, London v. Frank’s Casing Crew & Rental Tools Inc., the...
Despite Hurricanes, Fewer Insurers Failed in 2005, Reports Weiss Ratings
Jan 17 2006 // Despite mounting losses from another devastating hurricane season, property and casualty insurance company failures declined 44 percent, dropping from 16 to nine, while solid economic growth resulted in no bank closures in...
Colo. Insurers Can Expect Challenging Year, AIA Says
Jan 16 2006 // The 2006 Colorado legislative session is predicted to be a challenging year for insurers, as it works to keep costs down in the automobile insurance and workers’ compensation markets, according to theAmerican...
Allstate Backs National Disaster Fund But Other Insurers Balk
Jan 15 2006 // The chief executive of Allstate Corp., one of the largest U.S. insurance companies, has endorsed a proposal to create a national insurance catastrophe fund as a backstop to state disaster funds. Several Florida lawmakers...
Ark. Court Says Insurers Don’t Have to Pay for Teen’s Wreck
Jan 13 2006 // An insurance company doesn’t have to defend or pay the claims of a Pulaski County woman whose 15-year-old son wrecked the family car, the Arkansas Court of Appeals has ruled. The court upheld a judge’s ruling...
Garamendi Reports Workers’ Comp Insurers’ Filings Show 37.7% Drop in Rates Since 2004
Jan 13 2006 // California Insurance Commissioner John Garamendi reported Thursday that insurers, since the workers’ compensation system reforms went into effect in January 2004, have decreased the rates they file with the...
R&M Issues U.K. Insurers “Performance Ratio Benchmarking” Report
Jan 12 2006 // Dublin-based Research and Markets announced the addition of “Performance Ratio Benchmarking of the Top UK Insurers 2005” to their offering. “This report provides a consolidated source of information about...
AIA: Paper on Insurance Claims Handling is Reckless
Jan 12 2006 // A paper issued Thursday by Americans for Insurance Reform (AIR) is “untrue, irresponsible and reckless,” according to the American Insurance Association (AIA). “Tens of thousands of insurance company...
S&P Calls 2005 ‘a Good Year’ for European Insurers, Despite Losses
Jan 11 2006 // A report published by Standard & Poor’s Ratings Services, “Industry Report Card: European Insurance,” notes that “despite the large losses related to hurricanes Katrina, Rita, and Wilma, 2005...
U.S. Rep. Taylor Joins Lawsuit Against Mississippi Insurer
Jan 11 2006 // U.S. Rep. Gene Taylor, D-Miss., has joined the thousands of Mississippians suing State Farm Fire & Casualty Co., challenging the insurance company’s refusal to cover property losses resulting from Hurricane...
Personal Lines Doing Fine, Even Without Price Changes, Suggest P&C Analysts
Jan 11 2006 // The year 2005 is looking like it was a relatively good one with solid financial news for property casualty insurers overall, despite record catastrophe losses, and 2006 could bring even better news, according to analysts...
Lloyd’s Urges U.S. to End Foreign Insurers’ Trade Barriers
Jan 11 2006 // Barriers to trade must be removed to permit foreign reinsurers to lend more support in the event of another mega-disaster such as Hurricane Katrina, Lloyd’s chairman Lord Levene told New York business...
Ohio Insurance Dept. Amends Financial Regulation-Related Rules
Jan 11 2006 // The Ohio Department of Insurance recently filed revisions to several rules that could impact property and casualty insurance companies. The rules deal with solvency surveillance, acquisition or mergers, reinsurance terms...
