Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Remember the Lessons of Hurricane Andrew
Oct 11 2004 // Due to efforts to rebuild the Florida property insurance market after Hurricane Andrew, most policyholders in the wake of 2004s more costly hurricane season should not face the same post-Andrew price increases or limited...
ING to Acquire Most of Allianz Canada, S&P Puts Insurer on CreditWatch
Oct 10 2004 // The Netherlands’ ING Group and Germany’s Allianz announced that they have concluded a definitive share purchase agreement for the acquisition of Allianz’ property and casualty (P&C) insurance...
Fla. Policyholders Being Dropped After Hurricanes
Oct 8 2004 // After going through four hurricanes, some residents have reportedly been dropped by their insurance company. But before an insurance company can drop or change someone’s policy, there are legal steps they must take...
S&P Sees Limited Impact of Typhoons on Japanese P/C Insurers’ Ratings
Oct 7 2004 // Standard & Poor’s Ratings Services indicated that the impact of damage caused by typhoons in 2004 on Japanese non-life insurers is likely to be limited, owing to reinsurance indemnities and catastrophe loss...
Fitch Affirms Chubb’s ‘AA’ IFS Ratings
Oct 7 2004 // Fitch Ratings announced that it has affirmed the ratings of The Chubb Corporation, notably the “AA” insurer financial strength ratings (IFS) of Chubb’s P/C insurance subsidiaries. Fitch noted that these...
Big ‘I’ Weighs Minority Producer Database
Oct 6 2004 // The Independent Insurance Agents and Brokers of America is considering a proposal to compile a nationwide database of minority-owned agencies for carriers looking to expand their presence in urban markets to utilize, the...
P/C Insurers’ Loss Reserves “Remain Deficient” Says Best Report
Oct 6 2004 // A special report from A.M. Best Co. confirms that “a key driving factor of property/casualty rating downgrades over the past several years has been the impact of significant adverse loss and loss-adjustment expense...
R&M Report Says U.S. Insurers Distribution Expenses May Double
Oct 6 2004 // Dublin-based Research and Markets announced the addition of a new report, “Distribution Technology Trends in US Insurance” to their offering. The study presents the findings on distribution technology trends...
TWCC Fines Carriers for Late Payments to Workers
Oct 6 2004 // The Texas Workers’ Compensation Commission reported it issued 68 Notices of Violation (NOVs) to insurance carriers on Sept. 24 for a total of $251,000 in penalties for late initial payments of Temporary Income...
Maine Supreme Court Strikes Down Policy Limitation on Uninsured Motorist Coverage
Oct 4 2004 // The Maine Supreme Judicial Court in a 5-2 vote has ruled that insurers may not restrict their liability under uninsured motorists coverage to less than what Maine law requires. The Sept 30 ruling in Butterfield v. Norfok...
Best Places 3 Bahamas’ Insurers Under Review
Oct 4 2004 // A.M. Best Co. announced that it has placed the financial strength ratings of “A-” (Excellent) of RoyalStar Assurance Limited, Security and General Insurance Company Limited and Bahamas First General Insurance...
Fla. Homeowners’ Policies to be Reassessed, Double-Digit Rate Hikes Possible
Oct 4 2004 // The year ahead could be a shocker for homeowners in Florida, a state accustomed to skyrocketing insurance rates, due to the recent barrage of hurricanes that hit the state. To keep insurance companies in town and writing...
Midwest Insurers Issue $90 Million More in Hurricane Loss Estimates
Oct 4 2004 // Another group of Midwest-based insurers have issued loss estimates totaling $90 million related to the recent hurricane season. St. Paul Travelers Cos. estimated its losses from Hurricane Frances at about $75 million,...
Hurricane-Related Claims Force American Superior Into Receivership
Oct 1 2004 // Florida state regulators have placed American Superior Insurance Co. into receivership (See Southeast News Sept. 29) after it became overwhelmed by homeowners claims. The small company with offices in Plantation, Fla., has...
Insurers Applaud House Committee Passage of TRIA Extension Act
Sep 30 2004 // Both the Property Casualty Insurers Association of America (PCI) and the National Association of Mutual Insurance Companies (NAMIC) praised the House Financial Services Committee’s passage of H.R. 4634, the Terrorism...
Mass. A.G. Reilly Calls for 6.2% Cut in Auto Rates
Sep 30 2004 // Following up on his previous assertion that auto insurance in the state is actually too profitable, Massachusetts Attorney General Thomas F. Reilly has now called for a 6.2 percent cut in private passenger auto insurance...
Insurers Seek Delay in Pa. Church Abuse Trial
Sep 29 2004 // Insurance companies being sued by the Altoona-Johnstown Catholic Diocese are seeking a delay in the trial until the state Supreme Court rules whether the diocese must pay $1 million in punitive damages for not properly...
Fla. Insurers Often Waive Multiple Deductibles
Sep 29 2004 // Many insurance companies are waiving additional deductibles for people who’ve suffered losses from more than one hurricane. Hurricane Jeanne’s path poses the grim prospect of triple insurance deductibles for...
Jeanne Makes 2004 Costliest for U.S. Hurricane Losses
Sep 28 2004 // Hurricane Jeanne, the fourth major storm to hit Florida this year, has caused between $4 billion and $14 billion in insured losses in the state, meaning that 2004 may now be the insurance industry’s costliest year...
S&P Comments on Hurricane Jeanne’s $7 Billion Impact on U.S. P/C Insurers
Sep 28 2004 // Standard & Poor’s Ratings Services has issued a comment on the state of the U.S. property/casualty insurance industry and its short- and intermediate-term prospects in the wake of Hurricane Jeanne, the fourth...
