Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Only your E&O carrier and your boss care how smart you are
Jan 22 2006 // Different cus-tomers need different styles of presentation, and one way doesn’t work for every account. Recently I won a large account the old fashioned way. I earned it. We insure some local rural water districts....
Gemstar sues insurer
Jan 22 2006 // Gemstar-TV Guide International Inc. has sued an insurer, seeking to recover $50 million in liability coverage the media and technology company claims it is due to help cover judgments stemming from lawsuits about inflated...
Commercial lines carriers continue to impress; M&A activity up slightly
Jan 22 2006 // Stock Prices: Commercial lines stocks advanced for the second consecutive two-month period, up 5 percent for November/December, compared to a 7 percent increase in September/October. Companies continue to impress despite...
Earlybird Forecast
Jan 22 2006 // Fortunately for insurers, 2006 will likely feature far fewer screaming headlines announcing investigations into various insurance industry practices such as broker compensation and finite reinsurance. Each year the...
Insurers happy Calif.motorcycle helmet
Jan 22 2006 // Earlier this month, legislation was introduced by Sen. Denise Ducheny, D-San Diego, to permit motorcyclists 18 years and older to ride without helmets if they could show proof of having medical insurance. The bill was...
California insurance carriers spent the last part of December jumping through hoops to comply with the California Depart
Jan 22 2006 // Portable persistency discounts helped to encourage competitively priced products that promote comparison shopping. Amid the confusion surrounding the elimination of portable persistency discounts in California, we may have...
Case Law Watch
Jan 22 2006 // Topliff v. Chicago Insurance Co. (Wash. Court of Appeals, Nov. 15, 2005) Ruling: The insured, an attorney, had been sued in an underlying action, and his professional liability insurer denied coverage because the claim was...
Personal lines looking fine, thanks to fewer accidents and price changes
Jan 22 2006 // I.I.I. JOINT P/C FORUM: Outside Looking In – Left to right: V.J. Dowling, Dowling & Partners Securities; Mark Puccia, Standard & Poor’s; David Schiff, Schiff’s Insurance Observer; Brian P....
News Currents
Jan 22 2006 // Regulatory modernization tops industry’s legislative agenda for 2006 With the extension of the Terrorism Risk Insurance Act, passage of federal class action and crop insurance reform, enactment of asbestos reform in...
U.K.’s FSCS to Refund $74 Million to Insurers; No Levy for 2006/07
Jan 20 2006 // The U.K.’s Financial Services Compensation Scheme (FSCS), which administers claims payments when insurers are unable to do so (usually due to insolvency), has made what has to be an unprecedented announcement. It...
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...
