Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
The London Bombings: Terror Pool Will Help Cover Losses
Jul 18 2005 // September 11, March 11, July 7–dates on a calendar until 2001, 2004 and now 2005. Everyone living, and numbers yet unborn, will remember those dates. The latest terrorist attacks in London killed at least 52 people,...
An Insurer’s Right to Reimbursement: Frank’s Casing
Jul 18 2005 // The most significant Texas insurance case this year is the Texas Supreme Court’s recent opinion in Excess Underwriters at Lloyds, et al v. Frank’s Casing Crew & Rental Tools, Inc., No. 02-0730 (Tex., May...
Working With Your E&S Wholesaler: Be Nice … You’ll Need Them Again!
Jul 18 2005 // The surplus lines industry pendulum is now on its backswing into a soft market. A couple years of market restriction and firm pricing brought a temporary prosperity to the industry. The so-called “standard”...
Insurers Advise Texas Gulf Residents to Prep for Hurricanes as Season Unfolds
Jul 15 2005 // Residents along the Gulf Coast of Texas can learn a lot from the experiences of those people in Florida who were victims of multiple hurricanes last year, according Sandra Ray, public affairs director of Southwestern...
Beazley’s New U.S. Insurance Company Earns Best’s Rating of A-
Jul 14 2005 // A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Beazley Insurance Company, Inc. (BICI) (Omaha, NE), a newly formed U.S. insurer that is part of...
Citizens/Hanover Touts Multi-Variate ‘Connections Auto’ as Winner
Jul 14 2005 // The Citizens and Hanover Insurance Companies’ new Connections Auto, a state-of the-art, multi- variate auto product with greater customer segmentation capabilities, is off to a strong start in its initial launch...
ISO: U.S. P/C Industry’s First Net Gain on Underwriting Since ’78 Moves Surplus to Record High
Jul 14 2005 // Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses. Powered by the best underwriting results in almost three...
Insurers Balk as N.J. Gov. Codey Signs Bill Restoring Consumer Advocate
Jul 12 2005 // New Jersey Acting Governor Richard J. Codey today signed into law a bill that restores the Department of the Public Advocate as a government watchdog to act on citizen complaints on insurance, utilities and other issues....
Hurricane Dennis’s Bark Was Worse Than Its Bite; Carriers, Associations Evaluating Damages
Jul 12 2005 // As Hurricane Dennis approached Key West, Fla., large insurance carriers, expecting and preparing for the worst, alerted hundreds of adjusters to proceed to Florida and Alabama, and put hundreds of other employees on...
Fitch Reports Hurricane Dennis Could Have Implications for Fla. Market
Jul 12 2005 // Chicago-based Fitch Ratings states that Hurricane Dennis is expected to represent a material loss to the insurance industry. Dennis came ashore on Sunday, July 10, at 3:25 p.m., on Santa Rosa Island, Fla., as a Category 3...
Best Takes Various Actions on 52 Canadian P/C Insurers
Jul 11 2005 // A.M. Best Co. has affirmed the financial strength ratings of 36 Canadian insurers, downgraded the ratings of four, upgraded the ratings of nine and assigned ratings to three Canadian property/casualty insurers. These...
Two More Fla. Insurers Request Homeowners, Condo Rate Increases
Jul 11 2005 // Florida Preferred Property Insurance and Old Dominion Insurance have joined the list of insurers asking the Florida Office of Insurance Regulation for permission to increase homeowner and condominium policy rates. Florida...
Competition Between Insurers Lowers Fla. Auto Insurance Rates
Jul 9 2005 // Several major insurers, including State Farm, Allstate and Progressive indicate that due to increasing competition, motor vehicle rates are staying nearly stable or going down in Florida, or even going down slightly. State...
ABI Bulletin on London Bombings; Insurer Reactions
Jul 8 2005 // As rescue workers continue to search for the dead and missing, and London begins the long slow process of recovery from yesterday’s devastating bomb blasts that killed at least 37 people and injured over 700, the...
Security Breach Laws Should Concern Insurers, NAMIC Says
Jul 8 2005 // Differences in the 19 security breach notification laws enacted so far this year should be of concern to insurers conducting business in multiple states, according to an analysis by the National Association of Mutual...
Calif. Panel Approves Measure Requiring Insurers to Explain Why Policies are Declined
Jul 7 2005 // The California Assembly Insurance Committee approved an amended measure that will now require insurers to provide an explanation to consumers when policies are declined, canceled or non-renewed, reported the American...
SOX Debate Must Go On Despite Insurers’ Protests, Va.’s Gross Insists
Jul 7 2005 // The debate over insurance company financial reporting should center on the value of what is reported and the effort to change the rules must go on despite opposition by some, according to the state insurance commissioner...
N.H. Gov. Lynch Signs Big Changes for Small Group Health into Law
Jul 7 2005 // Surrounded by supporters, Gov. John Lynch this week signed into law a bill that promises to dramatically change the way health insurance companies set rates for small businesses in New Hampshire. Lynch said he was...
ISO: Insurers’ $920M CAT Losses is Lowest for Q2 in a Decade
Jul 6 2005 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $920 million for second-quarter insured property losses from four catastrophes in 25 states — the lowest tally among second...
More Choices for Homeowners Coverage in La.
Jul 5 2005 // Homeowners in Louisiana have more choices for insurance than they did a year or two ago, the Associated Press and the New Orleans Times-Picayune reported. More companies are writing policies, and those that already were in...
