Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Fla. Legislation Would Require Insurance Companies to Disclose ‘Hurricane-Preparedness’ Discounts
Apr 8 2005 // Legislation now working its way through the Florida House and Senate would require insurance companies to disclose discounts they offer for policyholders who make their homes more resistant to hurricane winds. At present,...
S&P Publishes Comparison Study on U.S. Surplus and Specialty Lines Insurers
Apr 7 2005 // Standard & Poor’s Ratings Services named Houston-based HCC Insurance Holdings Inc. as the leader in surplus and specialty insurance lines, in a new report – “Peer Comparison: U.S. Surplus And...
Insurers Offer Advice to Storm Victims in Okla.
Apr 7 2005 // An insurance trade association with responsibility for Oklahoma and Texas reported that the violent storm that struck Tulsa recently will cost tens of millions of dollars in insured losses. “The full extent of the...
Insurers Blast Maine Premium Tax Hike
Apr 7 2005 // The Maine Joint Committee on Labor, acting in a work session, has approved a bill to increase the state’s premium tax on several property/casualty insurance lines from 2 percent to 2.5 percent in order to fund...
Insurers Warn in Study: Unprofitable Del. Auto Insurance Market Could Face Reduced Competition
Apr 6 2005 // Even after investment income is considered, underwriting private passenger automobile insurance in Delaware has been unprofitable for the past five years, according to a study done by the Property Casualty Insurers...
Key Insurers Withdraw Support for Federal Asbestos Trust Fund but Sens. Frist, Specter Push Ahead
Apr 6 2005 // More than a dozen insurance companies have dropped their support of the proposed $140 billion federal trust fund meant to pay claims stemming from asbestos lawsuits, telling Congress it should instead work to establish...
Changes in SB 1488 Would Cap Citizens Rate Increases, ‘Standardize’ Territories
Apr 6 2005 // Florida’s Senate Banking and Insurance Committee has put finishing touches on Senate Bill 1488 that would bring numerous changes to the industry, including, a cap on any rate increase next year by Citizens Property...
Best Comments on Universal Underwriters Group; Downgrades UULIC Rating
Apr 5 2005 // A.M. Best Co. announced that the financial strength rating of “A” (Excellent) of Universal Underwriters Insurance Company, based in Overland Park, Kansas, and its wholly-owned subsidiary, Universal Underwriters...
Report Suggests Texans Overpaying for Insurance
Apr 5 2005 // Insurance companies in Texas overcharged homeowners and drivers by $4 billion last year despite recent legislation designed to limit rising rates, according to a report released recently by two state consumer groups. The...
AIA Says No to Maine Premium Tax Increase
Apr 5 2005 // The proposal to increase the Maine property/casualty premium tax by 25 percent would make the state less competitive and increase insurance costs for consumers, the American Insurance Association (AIA) said Tuesday in...
Single Territory Map Plan Struck From Fla. House Bill, Remains in Senate Version
Apr 4 2005 // A proposal which 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 hurricane legislation last...
Hartville Backs Off Insurance Company Acquisition
Apr 4 2005 // North Canton, Ohio-based pet insurer Hartville Group Inc. announced that its board of directors has decided that pursuing the acquisition of the property/casualty insurance company was no longer in the best interest of...
Md. Winds Down Urban Insurer American Skyline with St. Paul’s Help
Apr 4 2005 // Having decided last year to end its support after four years and $30 million, The St. Paul Travelers Cos. has now agreed to funnel funds one last time into a Maryland insurer it helped start as a model to serve urban...
An Underinsurance Lesson from the West Coast
Apr 4 2005 // In the aftermath of the devastating Southern California Wildfires of October 2003, claim adjusters went to work in an area where an estimated 3,631 structures were destroyed. In many cases the only remaining indication of...
How to Float to the Top and Other Words of Wisdom
Apr 4 2005 // Berkshire Hathaway’s Buffett on Insurance Economics, 2004 Results By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s...
Create a Community with an Agency Newsletter and Web Site
Apr 4 2005 // There are two classic reasons why consumers change insurance providers: a lower premium and a profound lack of appreciation. Agency management can only do so many things about the premiums they proffer. But there is always...
Regulators Look for a Clue
Apr 4 2005 // Was it Colonel ChoicePoint in the Conservatory With a Knife? When ChoicePoint Asset Co. finally disclosed Feb. 15 that criminals had gained access to the personal information of as many as 145,000 people in all 50 states,...
State Opposition, Other Issues Bury Federal Charter Efforts
Apr 4 2005 // Although three major proposals to revamp insurance regulation are before legislators in some form, it appears that the industry’s ultimate goal of optional federal charters is nowhere close to fruition. Only the...
Michigan DOI Study Finds Competition Doesn’t Equal Affordability
Apr 4 2005 // Michigan’s Office of Financial and Insurance Services last month released the results of its long-awaited study of competitiveness in the state’s insurance market. While the report found competition under the...
