Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
AutoOne Driven to Write in Several New States
Dec 14 2004 // AutoOne Insurance, an insurance company that accepts Assigned Risks on behalf of its client insurance companies, has been approved as a servicing carrier to write personal auto assignments in eight new states and to write...
PCI Seeks Changes to Proposed Rule on Producer Compensation in Oregon
Dec 9 2004 // The Property Casualty Insurers Association of America (PCI) has voiced its general support of the Oregon Insurance Division’s effort to establish an objective way to determine when an insurance broker must make...
Best Sees No Ratings Changes for 9 World Trade Center Verdict Insurers
Dec 9 2004 // After a preliminary assessment of the impact of the recently announced verdict that the 9/11 attack on the World Trade Center was two insurable events, A.M. Best Co. said it does not believe this decision, itself, will...
ACIC Releases Statement on Workers’ Comp Reforms
Dec 7 2004 // The following is a statement presented to the Senate Labor and Industrial Relations Committee Dec. 7 on workers’ compensation reforms. The statement by Jeff Fuller, ACIC’s executive vice president and general...
P/C Insurers Positioned to Weather Hurricane Losses
Dec 7 2004 //
Ill Winds Blow but the Ship Remains on Course
Dec 6 2004 // This year’s annual report on the reinsurance industry is a bit later than usual. It seems that beginning in August the voyage was interrupted by some serious storms, and it was hard to catch up to the boat as it...
SPITZER TAKES COMPENSATION PROBE TO WASHINGTON
Dec 6 2004 // Senate Panel Wants In, Agents Want Out of Brokerage Scandal At recent Senate hearings in Washington called to follow-up on allegations of bid rigging and hidden compensation by Marsh and other large insurance brokers,...
Carrier Solvency, Not Aggregate Industry Reserves, Should be Focus
Dec 6 2004 // Placing Industry Loss and Loss Adjustment Expense Reserving into Perspective In an April 2004 edition of Insurance Journal, Mark Wells, publisher, utilized the ‘On the Street’ column to frame the issues related...
States Unveil Model Disclosure Act
Dec 6 2004 // An insurance broker would be required to obtain written approval from its insured before receiving any compensation from an insurer for the same transaction under a compensation disclosure act unveiled by the...
Insurers Appear Disciplined but Open to New Program Business
Dec 6 2004 // While a number of insurance companies have exited the program business in recent years, program administrators heard from a few carriers recently that appear willing to at least consider new proposals. During a panel at...
Partners Continue to Come and Go, But It’s a Great Time to Jump in the Game
Dec 6 2004 // Partners Continue to Come and Go, But It’s a Great Time to Jump in the Game Program business over the past 10-15 years has been a rocky road for the insurance industry. Companies are in the game today, but gone...
European Insurance Summit 2004 Offers Some Words to Live By
Dec 6 2004 // Rating agencies are a reality, and we have to live with them,” Martin Kauer, CFO, Converium AG. “Market share is the enemy of risk management,” Brian O’Hara, president and CEO, XL Capital....
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement Marsh & McLennan has been in constant contact and cooperation with New York Attorney Eliot...
Mass. Commissioner Facing Facts About Auto System
Dec 6 2004 // It’s time for Massachusetts to face the facts about its old ways of tightly regulating private passenger auto insurance and create a modern day system, Massachusetts Insurance Commissioner Julianne Bowler told agents...
As Deadline Approaches, Insurers Face Sarbanes-Oxley Test Time
Dec 6 2004 // Insurers are facing a steep learning curve–with plenty of deficiency reports–as they test their compliance systems for the Sarbanes-Oxley Act of 2002, often referred to as SOX. At KPMG’s insurance...
S.D. INSURERS ASK STEUCK TO SPIKE CREDIT SCORING BILL:
Dec 6 2004 // South Dakota draft legislation regarding credit scoring is unnecessary, burdensome and would open the door for even more restrictive alternatives in the legislature if introduced, a leading industry representative has told...
Fla. Cabinet Extends Moratorium to Dec. 31, But Only for Unrepaired Homes
Dec 6 2004 // Florida Gov. Jeb Bush and members of the Florida Cabinet approved an emergency rule extending the moratorium to Dec. 31 and banning insurance companies from canceling or non-renewing insurance policies for victims whose...
Progressive’s Black Box: Is Big Brother Good for the Industry?
Dec 6 2004 // Some drivers in Minnesota will soon have an added passenger in their cars: their insurance company. Progressive Insurance Company is using so-called “black box” technology to offer drivers discounts based on...
Private Equity Capital Could Finance Five New Florida Companies
Dec 6 2004 // Up to five new insurance companies worth $20-$50 million each could be started up in Florida in the next six months with capital from private equity firms, according to John Butler, senior vice president at Houlihan Lokey...
TWCC PENALIZES CARRIERS:
Dec 6 2004 // The Texas Workers’ Compensation Commission (TWCC) issued 62 Notices of Violation (NOVs) to insurance carriers on Nov. 9, 2004, for a total of $155,500 in penalties for late initial payments of Temporary Income...
