Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Insurers Concerned With ‘Burdensome’ N.Y. Credit Score Regulations
Feb 24 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...
Demotech Assigns Financial Stability Ratings to Encompass Floridian Insurers
Feb 24 2005 // Demotech Inc. has announced the assignment of Financial Stability Ratings of “A” (Exceptional) to Encompass Floridian Insurance Company (EFIC) and Encompass Floridian Indemnity Company (EFI). The assignment of...
PIA of W. Va. EVP Describes Medical Liability Crisis; Hopes for Legislative Action
Feb 24 2005 // West Virginia’s medical liability insurance market is in a crisis and it has be fixed soon according to Gray Marion, Professional Independent Insurance Agents of West Virginia executive vice president. Marion...
Ind. Jury Says PSI Not Entitled to Insurance Recovery
Feb 24 2005 // A Hendricks County (Indiana) jury returned a verdict this week finding that Cinergy Corp. subsidiary PSI Energy Inc. was not entitled to any insurance recovery from its London Market Insurers for the costs incurred as a...
R.I. State Senate Bills Seek to Spur Competition in Health Insurance Market
Feb 22 2005 // Saying that a competitive insurance market is critical to making health insurance more affordable for Rhode Island consumers and businesses, Sen. Marc A. Cote has introduced a package of legislation aimed at attracting...
Pa.-based Harleysville Insurance In Transition to Restore Historic Results
Feb 22 2005 // Several events stand out in the history of Harleysville Insurance. There was its launch as an auto theft protection association in 1915 in the Pennsylvania community whose name it shares and there was its debut as a public...
Insurers Claim Mitigation Efforts Complement, But Do Not Replace the Need for TRIA
Feb 22 2005 // Officials in the Department of Homeland Security have introduced a proposal to mitigate losses from a future terrorist attack by establishing corporate security standards, or “best practices,” that will help...
Citizens Lost First Round; Stalling Payments Until After Another Court Decision
Feb 21 2005 // Citizens Property Insurance Co. is in the limelight again, this time because it is refusing to pay property losses, even after losing a South Florida appeals court decision. Hurricane Irene brought both wind and water when...
State Rep. Says Reforms Are Healthy For Texas
Feb 21 2005 // Texas’ landmark medical lawsuit reforms, passed just 18 months ago, are producing healthy benefits for the state’s doctors, patients, hospitals and nursing homes, according to State Rep. Joe Nixon. A Texas...
Outsiders See Need for Practical Solution to Compensation Disclosure
Feb 21 2005 // III Joint Forum: From the Outside Looking In It’s not very often that the insurance industry invites outsiders to share their opinions, so last month’s Insurance Information Institute’s Joint Industry...
Checking in with ELANY’s Dan Maher
Feb 21 2005 // Back to Earth and Up to Albany for N.Y.’s Excess & Surplus Marketplace After setting records in 2004, the excess and surplus market in New York is expected to calm down this year, as the tremors from the Sept....
Insurers Land Big Senate Win on Class Action Rules
Feb 21 2005 // The U.S. Senate rejected what could have been damaging amendments and approved by a vote of 72-26 historic changes to the way class action lawsuits are handled. The vote almost assures enactment since the Senate measure,...
Insurance Agents’ E&O: Are You Properly Covered’
Feb 21 2005 // Have you heard the story of the shoemaker’s children? Although their father was a shoemaker, they always had the most worn shoes. The reason is their father spent so much time and effort taking care of his customers,...
TRIA Renewal Remains Uncertain
Feb 21 2005 // Efforts to extend the federal terrorism insurance backstop, set to expire at the end of the year, face significant hurdles despite widespread belief among carriers that such a program is necessary to prevent massive market...
E&S Markets Medium, Softening Across the Board
Feb 21 2005 // Rising property prices and a healthy economy after the election year have encouraged competition for casualty business. Although account size is sometimes a factor in the directions prices move, E&S specialists say...
U.S. P/C INSURERS CONTINUE TO BOOST LOSS RESERVES FOR OLD BUSINESS:
Feb 21 2005 // For U.S. property/casualty insurers, periodic glimpses of rising profitability have been overshadowed by relentless price-cutting, natural and man-made catastrophes, and claims inflation. Following an unprecedented surge...
INSURERS TO PAY $5.9M FOR LOST SOCAL AIRPORT REVENUE:
Feb 21 2005 // Officials with the city of Los Angeles announced that they reached a $5.9 million settlement with their insurers due to the Sept. 11, 2001 terrorist attacks, according to the Associated Press. The Federal Aviation...
Nations Hazard Insurer Leaves Nationwide Trail
Feb 21 2005 // Even though his files have been stored in the department’s archives since the case was transferred to federal investigators more than a year ago, Ted Bader still keeps tabs on Michael Napadow and Nations Hazard...
N.J. Malpractice Insurer Ordered to Pay $15.3 Million
Feb 20 2005 // An insurance company for a prominent Bergen County, New Jersey eye surgeon must pay $15.3 million to cover malpractice claims made by 16 former patients, a Superior Court judge has ruled. Princeton Insurance Co. claimed an...
