Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
WIAA Submits Comments On Latest Garamendi Agenda Proposal
Aug 12 2005 // Requiring insurers to submit written explanations of “for cause” terminations of company appointments is unnecessary and lacks statutory authority Rancho Cordova…The Western Insurance Agents Association,...
Fifth Circuit Appellate Court Upholds Insurer ‘Bodily Injury by Disease’ Exclusion
Aug 12 2005 // The United States Court of Appeals, Fifth Circuit, recently issued its opinion in Graphic Packaging International Inc. v. Employers Insurance of Wausau, upholding the validity of an exclusion for “bodily injury by...
S&P Assigns ‘BBB’ Rating to Jordanian Insurer IGI
Aug 10 2005 // Standard & Poor’s Ratings Services announced that it has assigned its ‘BBB’ long-term counterparty credit and insurer financial strength ratings to Jordan-based insurer International General...
Gallagher, Crist Withdraw Proposed Rule to Give Insurance Companies Higher Profits
Aug 10 2005 // A proposed rule that would have explicitly given insurance companies the option to seek higher profits, scheduled to be approved Tuesday by the Florida Cabinet, was withdrawn on Tuesday by Tom Gallagher, Florida’s...
PCI Expresses Concerns Regarding NAIC Insurer Receivership Model Act
Aug 10 2005 // The Property Casualty Insurers Association of America (PCI) expressed serious concerns last week regarding the Insurer Receivership Model Act (IRMA) at the National Association of Insurance Commissioners’ (NAIC)...
Wharton Study Recommends Short-Term TRIA Renewal, Study of Long-Term Solution
Aug 10 2005 // A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of...
Insurers Pay $35 Million to 3M Breast Implant Settlement
Aug 9 2005 // 3M Co. received $35 million from four insurers in July to settle breast implant lawsuits, the company announced late last week. The claims stem from a 2003 Minnesota Supreme Court ruling that 29 insurance companies must...
PCI Praises Alaska Gov. for Signing “Flex Rating” Modernization Bill
Aug 8 2005 // The Property Casualty Insurers Association of American praised Gov. Frank Murkowski for signing into law legislation which will modernize and improve Alaska’s system for establishing rates for homeowners, auto and...
ACIC’s Releases Special Insurance-Related Legislative Roundup
Aug 8 2005 // This is the Association of California Insurance Companies special report on the status of significant insurance-related bills that are awaiting action by the Legislature. Lawmakers return from their month-long summer...
ISO: P/C Industry Ends 26-Year Drought, Breaks Surplus Records
Aug 8 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...
N.Y., Conn., N.J. Agents Pick Best-Performing Insurance Companies
Aug 8 2005 // Asked to evaluate insurers in 16 performance categories, agents in the tri-state region of Connecticut, New York and New Jersey rated 14 insurance companies as overall best performers. The winners, in no particular order,...
CAS Attendees Hear of Positive Trends in California Workers’ Comp
Aug 8 2005 // Insurers, and especially self-insurers, are seeing positive trends as a result of the workers’ compensation reforms in California, experts on the subject told attendees at the recent Casualty Actuarial Society (CAS)...
Insurers Unveil ‘Market-Based’ Proposals to Boost Terrorism Coverage
Aug 8 2005 // Property casualty insurers have outlined what they term a “market-based” approach to providing terrorism risk insurance. The proposals include repeal of some state laws on fire policies and creation of a...
INSURERS SEE CAFTA AS IMPORTANT STEP:
Aug 8 2005 // Congress took an important step toward opening the world’s insurance markets when it approved the Central American Free Trade Agreement (CAFTA), the American Insurance Association said. “Costa Rica, one of the...
Business Interruption: When Has the Insurer Satisfied Its Obligation?
Aug 8 2005 // One of the most problematic insurance questions that developed following the destruction of the World Trade Center on Sept. 11, 2001, involved business interruption coverage. With the destruction of the World Trade Center...
Insurers Unveil ‘Market-Based’ Proposals to Boost Terrorism Coverage
Aug 8 2005 // Property casualty insurers have outlined what they term a “market-based” approach to providing terrorism risk insurance. The proposals include repeal of some state laws on fire policies and creation of a...
CAS Attendees Hear of Positive Trends in California Workers’ Comp
Aug 8 2005 // Insurers, and especially self-insurers, are seeing positive trends as a result of the workers’ compensation reforms in California, experts on the subject told attendees at the recent Casualty Actuarial Society (CAS)...
Getting Serious About Regional Carrier Solvency
Aug 8 2005 // Demotech Inc. recently completed an exhaustive study of its 23,118 insurance company Preliminary and final Financial Stability Ratings (PFSRs and FSRs) issued from 1989 through 2004 and found that regional and specialty...
ISO: P/C Industry Ends 26-Year Drought, Breaks Surplus Records
Aug 8 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...
Fla. Homeowners Rates to Rise by 6.8 Percent Again This Summer
Aug 8 2005 // Florida homeowners can expect to receive a 6.8 percent increase in their insurance rates to pay for Citizens Property Insurance Corporation’s deficit, according to Bob Hartwig, chief economist at the Insurance...
