Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Berkshire Hathaway Chairman Warren Buffett on Insurance Economics and 2004 Results
Mar 8 2005 // By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s book-value gain of 10.5% fell short of the S&P 500 Index’s 10.9%...
90 Days Until Hurricane Season: Fla. Legislators Hope to Solve Problems
Mar 7 2005 // With less than 90 days to go until the 2005 hurricane season begins, Florida legislators are scrambling to solve a wide-variety of hurricane-related problems: Getting insurance claims settled; solving problems with...
Fla. Legislative Sessions Begin Today: Insurance-Related Subjects Top To-Do List
Mar 7 2005 // The Florida Legislature begins its spring sessions today with insurance-related topics expected to take the limelight with several dozen proposals being discussed by the governing body. Topics range from giving consumers...
N.Y. CREDIT RULES IRK INSURERS:
Mar 7 2005 // Insurance companies are concerned that new regulations adopted by the New York Insurance Department regarding the use of credit information for personal lines coverage could be more burdensome than necessary. The...
Auto Task Force, Industry PR Effort Herald Busy Summer Ahead in Mass.
Mar 7 2005 // A task force appointed by Massachusetts Gov. Mitt Romney last spring has concluded that the state’s private passenger auto insurance system is heading for a crash and has promised to produce a legislative reform...
As Michigan Agents Gather, Industry Finds Itself in Crosshairs
Mar 7 2005 // The vote by the Michigan Legislature’s Joint Committee on Administrative Rules to file a notice of objection to Democratic Gov. Jennifer Granholm’s rule banning the use of credit scores in underwriting was...
S&P REPORT SAYS HURRICANE LOSSES PUT PRESSURE ON INSURERS’ EQUITY:
Mar 7 2005 // The shareholders’ equity of many insurers and reinsurers is coming under greater pressure than anticipated as P/C losses from the 2004 hurricane season continue to rise with new estimates, according to a report by...
Insurers Must Underwrite Smarter, Not Succumb to D&O Market Pressures
Mar 7 2005 // Insurers must not be lulled into thinking that the Directors and Officers liability market has recovered because the quantity of cases remain high and the complexities of litigation are overwhelming. As a result, carriers...
Contingency Commissions and the Future of California Agents & Brokers
Mar 7 2005 // How the Spitzer-led investigation against broker fees inspired solutions to California’s “problems” Over the past several months, there have been numerous explanations, press releases and position papers...
Aon Settles Corruption Probe with 3 States for $190 Million; Complaint Cites Involvement of Top Execs
Mar 4 2005 // New York Attorney General Eliot Spitzer and Acting New York State Insurance Superintendent Howard Mills, together with Connecticut Attorney General Richard Blumenthal, Illinois Attorney General Lisa Madigan and Illinois...
Consumer Group Applauds Washington Commissioner For Refunding Premiums to Doctors
Mar 4 2005 // The Center for Justice & Democracy, a national consumer organization that monitors insurance industry practices, applauded the Washington State Office of the Insurance Commissioner for ordering the state’s...
As Mich. Agents Gather, Industry Finds Itself in Crosshairs
Mar 4 2005 // GRAND RAPIDS, Mich.—The vote by the Michigan Legislature’s Joint Committee on Administrative Rules to file a notice of objection to Democratic Gov. Jennifer Granholm’s rule banning the use of credit scores in...
TDI Issues Bulletin to Insurers Regarding ChoicePoint Inc. Release of Information
Mar 3 2005 // Insurers who use credit scoring in underwriting and rate setting must take into consideration a recent security breach at the data collection company ChoicePoint Inc., according to a bulletin issued by the Texas Department...
New Calif. Comp Carrier Receives $50M in Capitalization
Mar 3 2005 // Applied Underwriters announced that it has provided $50MM in capital to its wholly-owned subsidiary, the California Insurance Company (CIC). Applied Underwriters acquired CIC in 2003 from General Electric’s Coregis...
Homeowners Insurance Costs Up by 2.5% in 2005; Smallest Increase in 6 years
Mar 1 2005 // Good news for homeowners this year came from the Insurance Information Institute, which projected that the cost of insuring homes will rise by only 2.5 percent in 2005, the smallest increase in six years. The projected...
IBC Reports 2004 Financials for Auto, Home and Business Insurance Companies
Mar 1 2005 // Insurance Bureau of Canada (IBC) recently announced estimated 2004 financial results for Canada’s home, auto and business insurance companies. Industry data indicate that in 2004, the industry’s 206 companies...
Insurer Trade Group Reports Growth in 2004
Feb 28 2005 // The National Association of Mutual Insurance Companies reported that the trade association of insurance companies showed an increase of $26 billion in premium and two percentage points over the previous year’s...
Weiss: Insurers Earn $28B in First Three Quarters of 2004
Feb 28 2005 // Despite a hurricane-ravaged third quarter, property/casualty insurers reported profits of $28.1 billion in the first nine months of 2004, representing a 22.4 percent increase over the $22.9 billion earned during the same...
Restrictive Illinois Auto Body Shop Bill Would Hit Consumers Hard
Feb 28 2005 // An Illinois bill that would require auto insurers to pay whatever any given body shop demanded for repairs would result in skyrocketing loss costs for insurers and higher premiums for drivers. H.B. 2330 is...
Pa. Officials Reach $85 Million Settlement with Former Reliance Insurance Directors
Feb 25 2005 // Pennsylvania Insurance Commissioner Diane Koken, in her role as statutory liquidator for Reliance Insurance Company, announced today that the department has finalized the negotiation of an $85 million settlement with the...
