Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
New Mexico set to better protect credit
Feb 6 2006 // New Mexico’s Personal Insurance Credit Information Act (PICIA) took effect Jan. 1. According to the Rocky Mountain Insurance Information Association, PICIA requires insurance companies to limit the use of credit...
How courts are viewing motor carrier cargo disputes
Feb 6 2006 // The Second Circuit Court of Appeals has ruled that the BMC-32 Endorsement [Bureau of Motor Carriers attachment] does not apply to contract carriage for shipments taking place after Jan. 1, 1996, the effective date of the...
What happens when the excess carrier goes under
Feb 6 2006 // Analysis of one typical large company’s 65 years of excess casualty programs turns up disturbing news. More than half of the 49 carriers that participated on this corporation’s excess programs are now insolvent...
Vermont Mutual latest to be driven off Cape Cod
Feb 5 2006 // While the Massachusetts insurance regulator is warning about problems in the homeowners market, another insurer has decided it can’t continue to write homeowners insurance on Cape Cod. Starting April 1, Vermont...
News Currents
Feb 5 2006 // Mass. needs new insurance capital to weather big storm The Massachusetts economy could be battered if a major storm were to hit the metropolitan Boston area because the state’s homeowners insurance market is...
Editor’s Note: Industry opposes federal solution on asbestos
Feb 5 2006 // This resolution does not provide finality or certainty at an equitable, affordable cost. There is an old adage that goes “if you are not part of the solution, than you part of the problem.” The insurance...
News Currents
Feb 5 2006 // Florida Attorney General Charlie Crist (R), “Citizen’s Property Insurance Corp. needs an overhaul.” U.S. Rep. Jim Davis (D-Tampa), “Florida taxpayers are being ‘fleeced.'” Florida CFO...
News Currents
Feb 5 2006 // Insurers seek bond measures for Texas catastrophe fund Taking a cue from the Scout motto “Be Prepared,” a group of insurers is recommending legislation that would allow for generating funds to help pay for the...
Proposed Calif. reinsurance regulations could hurt business
Feb 5 2006 // News Currents The California Department of Insurance has proposed new reinsurance oversight regulations, which several insurance industry associations said are “unnecessary, burdensome and anti-market...
News Currents
Feb 5 2006 // New Mexico Set to Better Protect Credit New Mexico’s Personal Insurance Credit Information Act (PICIA) took effect Jan. 1. According to the Rocky Mountain Insurance Information Association, PICIA requires insurance...
California Insurance Industry
Feb 5 2006 // I nsurers are cultivating California’s economy. In fact, the insurance industry benefits “the economic security of California and its citizens through claims and benefits paid to policyholders; investments in...
Closer Look: Motor Carrier Cargo
Feb 5 2006 // Producers advised to work closely with a wholesaler or carrier that knows transportation contracts Transportation insurance and, more specifically, motor truck cargo insurance are not fields where an agent should dabble...
Closer Look: Motor Carrier Cargo
Feb 5 2006 // Although the Carmack Amendment provides that the cargo owner’s sole remedy is for “actual loss or injury to the property,” the courts have consistently held that consequential or special damages are...
SPECIAL REPORT: Commercial Umbrella
Feb 5 2006 // Insolvencies have left numerous corporations with uncollectible excess casualty claims and no recourse but to pay these large claims out of company coffers. What happens when the excess carrier goes under To avoid high...
Colo. Senate Panel Backs Requiring Auto Insurers to Pay Medical Bills
Feb 3 2006 // Auto insurers would have to pay ambulance and emergency room bills in car accidents under a measure backed by a Colorado Senate panel. Officials for hospitals and ambulance services said someone needs to help them pay for...
New Mexico Considering Commercial Lines File and Use System
Feb 2 2006 // The National Association of Mutual Insurance Companies (NAMIC) and the insurance industry are working with the New Mexico Public Regulation Commission to finalize and implement proposed rate regulations that would convert...
I.I.I. Says Nearly 70% of Katrina Homeowner Claims Settled in Louisiana, Mississippi
Feb 2 2006 // Homeowners insurers have settled nearly 70 percent of claims from Hurricane Katrina in Louisiana and Mississippi, according to the Insurance Information Institute (I.I.I.). The I.I.I. estimated that more than 732,000...
AIA: Unprecedented Fla. Credit Rule Could Hurt Insurance Consumers
Feb 1 2006 // The use of credit information in underwriting and rating Florida homeowners and auto insurance policies is now threatened by yesterday’s approval of a rule governing insurers’ use of credit-based insurance...
Florida Condo, Carrier Reach Hurricane Repair Agreement
Feb 1 2006 // Southern Family Insurance representatives have met with 200 Century Village condominium owners in Boca Raton, Fla. and agreed to pay for extensive hurricane repairs including the replacement of five roofs. Bob Goolman,...
NAMIC to NAIC: ‘Alternate SOX Proposal Still Too Much’
Feb 1 2006 // An alternate proposal to impose Sarbanes Oxley Act provisions on mutual insurers, “errs in applying to mutual insurers costly and burdensome internal accounting control measures not demonstrated to preclude or...
