Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
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,...
