Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Homeowners in Hurricane Paths Hit with High Insurance Costs
Aug 23 2004 // Retired police officers Ed and Nancy McCue are thinking about leaving their dream home near the shores of Biscayne Bay because it’s in a prime area for hurricanes. It’s not the storm threat itself that’s...
NCOIL Accepts NAIC Changes to Market Conduct Model
Aug 23 2004 // Under heavy pressure from Congress and insurance industry lobbyists to pick up the pace on regulatory modernization, the National Conference of Insurance Legislators (NCOIL) accepted most of the changes to its market...
Insurance Company to Pay $12M Bill to Defend Olympic Bid
Aug 23 2004 // The company that insured organizers of the 2002 Winter Games has paid millions of dollars in legal fees to defend bid chiefs Tom Welch and Dave Johnson from government bribery charges. Johnson, who worked as Welch’s...
CALIF. SUPREME COURT ISSUES MAJOR RULING ON INSURER BAD-FAITH CLAIMS:
Aug 23 2004 // The California Supreme Court threw out a lower court ruling that had resulted in a multi-million dollar damage award against an insurance company. The Association of California Insurance Companies (ACIC) had filed an...
Fiduciary Liability: The Most Misunderstood of Management Exposures
Aug 23 2004 // In the early 1960s, life in the United States was lived at a slower pace. Transportation and communication required more time (and patience) and employees were more inclined to trust employers on issues relating to...
Bracing for the Worst: Industry Prepares for Another Wildfire Season
Aug 23 2004 // The fire season started early this year. Wildfires erupted all over California and in Nevada in mid-July, forcing thousands to evacuate and destroying several homes and outbuildings. Affected areas in California included...
CIRC to Allow China’s Insurers to Invest Foreign Currency Holdings Offshore
Aug 20 2004 // In a widely anticipated move, the China Insurance Regulatory Commission (CIRC) has reportedly announced plans to loosen the country’s tight currency controls by allowing domestic (as well as foreign) insurers to...
IAB Issues Research Findings on “How Insurers Can Recapture the Mass Market Profitably”
Aug 20 2004 // The Washington, D.C.-based Insurance Advisory Board (IAB) has announced the publication of its most recent research – “Insurance for the Masses: Achieving Profitable Growth in Mass Markets.” The IAB is a...
Maryland Pursues Unauthorized Med-Mal Insurers
Aug 20 2004 // Maryland Insurance Commissioner Alfred W. Redmer, Jr. has moved to end what his agency says is a comprehensive scheme of medical malpractice fraud aimed, particularly, at women’s clinics. Redmer issued a cease and...
EC to Begin Formal Work on Insurer/Reinsurer ‘Solvency 2’ Rules in 2005
Aug 18 2004 // Th European Commission (EC) confirmed its intention to begin implementing a number of new rules related to the solvency of both insurers and reinsurers in 2005. The EC’s “Solvency 2” initiative aims to...
I.I.I. Estimates Insurers Will Pay $7.4 Billion for Charley
Aug 18 2004 // Insurers are likely to pay out an estimated $7.4 billion for homes, businesses and personal possessions that were damaged by Hurricane Charley, according to the Insurance Information Institute (I.I.I.). The storm, which...
Insurers Say Charley Not as Devastating as Andrew
Aug 17 2004 // Initial reports from insurance companies with claims adjusters on the ground in Florida indicate that damage from Hurricane Charley, while extensive, was less than the state experienced when Hurricane Andrew hit South...
Foreign Insurers Are Assessing Charley’s Impact
Aug 17 2004 // While any accurate figures of the economic cost of Hurricane Charley’s deadly passage through Florida will not be available for some time, it’s becoming clear that, although the storm was a major catastrophe...
Court Says Texas Providers, Carriers Must Pay IRO Fees in Medical Necessity Disputes
Aug 17 2004 // The Texas Workers’ Compensation Commission reported that the Third Court of Appeals in Austin has upheld the constitutionality of TWCC’s rules regarding fees to be paid to Independent Review Organizations...
Insurer’s 90% Med-Mal Hike Under Fire in Conn.
Aug 16 2004 // A coalition of trial lawyers and consumer groups is challenging a medical malpractice insurer’s plan to increase premiums in Connecticut an average 89.6 percent. The rate hike for GE Medical Protective Insurance...
Mass. Auto Insurers Seek 5.8% Increase
Aug 16 2004 // If Massachusetts private passenger auto insurers get their way, the rates they charge drivers in this state will increase an average 5.8 percent next year. The Automobile Insurers Bureau of Massachusetts (AIB) has...
Best: Majority of Insurers Will Meet Charley Commitments; Industry Not to Be Significantly Weakened
Aug 16 2004 // In response to Hurricane Charley, A.M. Best Co. has been gathering public and private information in order to assess the financial impact the hurricane will have on the global property/casualty insurance and reinsurance...
Insurers Say Andrew Prepared Them for Charley
Aug 15 2004 // Hurricane Charley probably will not cause Floridians’ insurance premiums to skyrocket like 1992’s Andrew, and fewer insurers should go bankrupt from paying out damages expected to reach the billions of dollars,...
PCI Rebuts <em>Wall Street Journal</em> TRIA Article
Aug 12 2004 // A recent article in the Wall Street Journal, “Insurance Risk Update: More Alert, Less at Risk” by Holman W. Jenkins, Jr., has brought a swift rebuttal from the Property Casualty Insurers Association of...
Calif. Supreme Court Issues Major Ruling on Insurer Bad-Faith Claims
Aug 9 2004 // The California Supreme Court threw out a lower court ruling that had resulted in a multimillion-dollar damage award against an insurance company. The Association of California Insurance Companies (ACIC) had filed an amicus...
