Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
PLUS’ Medical Malpractice Prognosis: Positive?
Apr 18 2005 // CHICAGO–Five words summed up the mood at this year’s Professional Liability Underwriting Society’s medical symposium: “The crisis aspect is over.” Thus spake Howard Friedman, chief financial...
INSURERS FILE SUIT TO STOP CREDIT SCORING BAN
Apr 18 2005 // As planned, a group of Michigan property/ casualty insurers has filed a lawsuit challenging the state’s new rule set banning their use of credit scores in auto and homeowners insurance and reducing base...
European Nations Offer Lessons in Insuring Catastrophes and Terrorism
Apr 18 2005 // GAO Study Explores Examples of How Public-Private Insurance Partnerships Operate A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government...
Territory Map Plan Struck From Fla. House Bill; Senate Passed It
Apr 18 2005 // A proposal that would create a single Florida-wide territory map and eliminate individual rate territories based on predicted hurricane risks and expected loss models was removed from House legislation, but was approved on...
W.Va. Releases E-mail Proposals; House Committee Advances SB 30
Apr 18 2005 // Details of negotiations between West Virginia insurance companies, Gov. Joe Manchin and Brian Kastick were released after a court decision requiring e-mails sent on Feb. 22 and 23 to be revealed to the public. Also, after...
Keeping Retention Rates High in a Softening Market
Apr 18 2005 // The success or failure of any organization can be traced to customer retention. Agents and carriers who retain the most customers have greater long-term success and profitability than those who consistently lose...
PLUS’ Med-Mal Prognosis: Positive?
Apr 18 2005 // CHICAGO–Five words summed up the mood at this year’s Professional Liability Un-derwriting Society’s medical symposium: “The crisis aspect is over.” Thus spake Howard Friedman, chief financial...
Calif.’s AB 925 Could Mandate Insurers to Invest in Under-served Communities
Apr 18 2005 // California Insurance Commissioner John Garamendi and Assembly member Mark Ridley-Thomas (D-Los Angeles) introduced AB 925, a new piece of legislation that would require insurers to make investments in low- and...
Aon Complaint Memos Reveal Personal Lines Arrangements
Apr 18 2005 // The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials...
PLUS’ Medical Malpractice Prognosis: Positive?
Apr 18 2005 // Five words summed up the mood at this year’s Professional Liability Underwriting Society’s medical symposium: “The crisis aspect is over.” Thus spoke Howard Friedman, chief financial officer at...
Insurer Group Files Lawsuit Against Texas Workers’ Compensation Commission
Apr 15 2005 // The Insurance Council of Texas reported it filed a lawsuit against the Texas Workers’ Compensation Commission challenging the agency’s proposed assessment of costly administrative penalties. ICT questions why...
Former CEO Greenberg Transferred $2 Billion in AIG Shares to Wife Just Days Before Quitting Insurer
Apr 14 2005 // Three days before he resigned as head of American International Group Inc., Maurice ‘”Hank” Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory...
Insurers Tell Senate Panel of Possible Long-Term Terrorism Insurance Solution; Urge Swift Action
Apr 14 2005 // In testimony today before the Senate Banking Committee, Ernie Csiszar, president and chief executive officer of the Property Casualty Insurers Association of America, outlined possible components of a long-term terrorism...
Garamendi Proposes New Regulations for Homeowners Insurance Market
Apr 14 2005 // California Insurance Commissioner John Garamendi on April 14 announced new regulations to protect homeowners from unfair “use it and lose it” practices in the homeowners insurance market. “We all pay...
Garamendi Unveils New Broker Disclosure Regulations
Apr 13 2005 // California Insurance Commissioner John Garamendi announced new regulations April 13 regarding agent/broker compensation disclosure. The proposed regulations would: Require the agent or broker to advise a client, prior to...
Insurers Oppose Ore. Auto Repair Shop Legislation
Apr 13 2005 // The Property Casualty Insurers Association of America (PCI) is urging the Oregon Senate to reject legislation which would mislead consumers about a valuable program designed to provide quality repairs to accident-damaged...
First Underwriting Profit Since 1978, Investment Gains Send Industry’s Net Income and Surplus to Record Highs
Apr 12 2005 // Benefiting from a rare profit on underwriting and investment gains, the U.S. property/casualty insurance industry’s net income after taxes rose 29 percent to a record $38.7 billion in 2004 from $30 billion in...
Cochran, Caronia: Insurers to See Major Declines in Core Earnings Power
Apr 12 2005 // Property and casualty insurers will see dramatic declines in core earnings power beginning as early as this summer and extending into 2006, according to a new study by Cochran, Caronia Securities LLC, an insurance industry...
Bermuda Insurers Receive Subpoenas
Apr 11 2005 // Two of Bermuda’s leading reinsurance companies – RenaissanceRe Holdings Ltd. and PartnerRe Ltd. – have acknowledged that they have received subpoenas from both the U.S. Securities and Exchange Commission...
After Two-Hour Floor Debate, W.Va. House Passes Senate Bill 414
Apr 11 2005 // The West Virginia House of Delegates passed Senate Bill 414 on Friday prohibiting third-party bad-faith lawsuits against insurance companies. SB 414 is part of Gov. Joe Manchin’s insurance and tort reform proposals,...
