Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
S&P Assigns Mitsubishi’s New Century ‘A-‘ Rating; CreditWatch Positive
Jan 10 2006 // Standard & Poor’s Ratings Services announced from its Tokyo office that it has assigned its “A-” insurer financial strength rating to New Century Insurance Co. Ltd. and placed the rating on...
Shift in S. Fla. ‘Line of Demarcation’ Could Reduce Homeowners Rates
Jan 9 2006 // South Florida homeowners with properties located in a strip of land east of I-95 could have their policies reduced if a proposal is implemented to shift the line of demarcation as far east as U.S. Highway 1, or even A1A,...
Retailers Assn. Announces New, Michigan-Based Insurance Company
Jan 9 2006 // The first completely new insurance company established in Michigan in six years was announced today with the Michigan Retailers Association’s launch of the Retailers Mutual Insurance Company. Retailers Mutual is a...
Association of Calif. Insurance Companies Opposes Weakening Motorycle Helmet Law
Jan 9 2006 // New legislation, SB 969 has been introduced by Sen. Denise Ducheny, D-San Diego, to permit motorcyclists 18 years and older to ride without helmets if they can show proof of having medical insurance. The bill is scheduled...
I.I.I. Says Record Mississippi Homeowners’ Claim Payments from 2005 Hurricanes
Jan 9 2006 // The record total of homeowners insurance claims payments resulting from the 2005 hurricanes in Mississippi is reportedly enough to wipe out all homeowners premiums paid in the state during the past 17 years. The magnitude...
Ex-Employee Indicted for Theft of Insurer’s United Way Donations
Jan 6 2006 // A Springfield, Illinois woman has been indicted for allegedly stealing at least $150,000, mostly in United Way donations, from her former employer, Horace Mann Insurance Company. Gerri E. Ripka, 50, is accused of taking...
Analysts Predict Faster P/C Premium Growth, Underwriting Profit in 2006
Jan 5 2006 // Record catastrophe losses will weigh heavily on 2005’s underwriting results, pushing what would have been the industry’s largest underwriting profit ever into a loss situation, according to the Insurance...
I.I.I.: Claims in Louisiana Equal to 25 Years of State’s Homeowners Premiums
Jan 5 2006 // The record total of homeowners insurance claims payments resulting from the 2005 hurricanes in Louisiana is enough to wipe out all homeowners premiums paid in the state during the past 25 years, as well as every dollar of...
CEO of La.’s ‘Last Resort’ Insurer not Happy About Growth
Jan 4 2006 // Growth is good for most businesses but the chief executive officer for Louisiana Citizens Property Insurance Corporation is sorry to predicting a 40 percent to 50 percent growth rate in the coming one to two years for his...
Analysts Predict Surge in Insurance Company Mergers in 2006
Jan 4 2006 // Analysts are predicting that 2006 could be the big one in terms of new mergers by insurers. Not that 2005 was lean on mergers and acquisitions. Some of the top companies that made the move were notably MetLife...
