Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Another N.Y. Auto Insurer Reduces Rates
Dec 30 2004 // New York Superintendent of Insurance Gregory V. Serio announced that Progressive Northeastern Insurance Company (PNEIC) will reduce its rates an average of 5.1 percent for 2005, saving its private passenger customers...
S&P Sees No Effect on Australian Insurers’ Ratings from Tsunami Losses
Dec 29 2004 // Standard & Poor’s Ratings Services has issued a bulletin stating that it does not expect Australian general insurers to be materially affected by the cost of insurance claims arising from the Indian Ocean...
Insurer Donates Anti-Fraud Tools to N.Y. City Police
Dec 29 2004 // The latest tools in surveillance technology — “Joey and “Whisper” – have joined the fight against no-fault insurance fraud in New York City, reports the National Insurance Crime Bureau. AutoOne...
The Midwest’s Top 10 Newsmakers in 2004
Dec 29 2004 // What a long, strange trip it’s been. The year started with the two Chicago-area property/casualty insurance trade groups, the National Association of Independent Insurers and the Alliance of American Insurers,...
Pa. Commissioner Closes Doors on Insurer
Dec 28 2004 // Pennsylvania Insurance Commissioner Diane Koken has shut down the operations of Nation’s Hazard Insurance Agency, which has been doing business as Nation’s Hazard Insurance Company. The company is reportedly an...
Dewhurst, Jackson Lay Out Plan for Insurer Penalties
Dec 23 2004 // Texas Lt. Gov. David Dewhurst once again called on State Farm to reduce homeowner’s insurance rates recently as he laid out the second part of the Texas Legislature’s insurance reform effort, the Associated...
Nicks Named Regional President, Southern Region, for Hanover Insurance Company
Dec 22 2004 // The Citizens and Hanover Insurance Companies announced the appointment of Robin Nicks as regional president of Hanover Insurance Company’s Southern region, including the companies’ Atlanta, Dallas, New Orleans,...
The Hartford Latest Insurance Company to Hire Top Prosecutor to Deal with Blizzard of Subpoenas
Dec 22 2004 // The Hartford Financial Services Group has hired a top federal corruption prosecutor in Connecticut amid a wave of state investigations into the insurance industry. The Hartford, which has been subpoenaed by attorneys...
Texas to Receive $1M from Multi-State Settlement with Disability Insurers
Dec 22 2004 // The Texas Department of Insurance announced its participation in a nationwide settlement with three disability insurers owned by UnumProvident Corp. over allegations of improper claims handling practices. The settlement...
Quanta Capital Raises $40 Million; Best Rates Insurer’s EU Sub ‘A-‘
Dec 22 2004 // Bermuda-based Quanta Capital Holdings Ltd., which provides specialty insurance, reinsurance, and risk consulting services through its subsidiaries, announced that it has completed the private placement of $40 million of...
Proposed Calif. Producer Compensation Regulation Confusing, Unnecessary Says ACIC
Dec 22 2004 // The Association of California Insurance Companies (ACIC) strongly criticized a proposed California Department of Insurance regulation on insurance agent and broker practices because the measure is overly broad, poorly...
Insurers Claim Regulators’ Open Meetings Policy Ignored
Dec 22 2004 // “Any NAIC deliberation or decision that has legal or persuasive effect on insurance law and regulation is the public’s business and must be conducted in a public setting,” stated a National Association of...
New Calif. Legislation Becomes Law on Jan. 1
Dec 21 2004 // A number of new insurance-related bills will go into law in California on Jan. 1, 2005. They include: Auto Insurance AB 2677 (Ridley-Thomas – Auto Insurance: Cost Estimates) requires insurers to provide personal auto...
Pa. Insurers File for Workers’ Comp Rate Cut
Dec 21 2004 // Pennsylvania workers’ compensation rates will be going down next April if a loss cost filing submitted by the industry is approved. The Pennsylvania Compensation Rating Bureau has recommended that workers’ comp...
Insurance Practices Under Scrutiny in Arkansas Investigation
Dec 20 2004 // The Arkansas Insurance Department has begun an investigation into the practices of Arkansas insurance brokers and companies in light of the recent bid-rigging allegations against one of the nation’s top brokers. The...
Dallas Industry Day Focuses on Profitability, Tort Reform, Ratings
Dec 20 2004 // Texans like to say everything is bigger in Texas, but economist Robert P. Hartwig came to Dallas to explain that big numbers alone aren’t worthy of celebration. The Texas insurance industry, for example, enjoys big...
The Midwest’s Top 10 Newsmakers
Dec 20 2004 // Here Are the Heartlanders Who Made Insurance Headlines in 2004 What a long, strange trip it’s been. The year started with the two Chicago-area property/casualty insurance trade groups merging to form the Property...
S&P SAYS PERSONAL LINES CARRIERS ARE STRONG:
Dec 20 2004 // Fundamentals remain strong for U.S. personal lines insurance carriers, according to a report published by the ratings firm Standard & Poor’s. This is reflected in S&P’s decision to retain a stable...
Industry Sees First 9-Month Net Gain on Underwriting in Nearly Two Decades
Dec 20 2004 // Benefiting from profits on underwriting, the U.S. property/casualty insurance industry’s net income after taxes rose 28.3 percent to $26.7 billion in the first nine months of 2004 from $20.8 billion in the first nine...
‘Girly Men’ and the Real World: The Public Role in Extreme Risk-Sharing
Dec 20 2004 // The Wharton School professor argued that insurance companies are not “girly men” when it comes to providing coverage for extreme risks such as hurricanes and terror attacks. It’s the federal...
