Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Hartville Signs Agreement to Acquire Insurance Company
Jun 1 2004 // North Canton, Ohio-based pet insurer Hartville Group Inc. announced that the company has finalized the definitive purchase agreement to acquire a property/casualty insurance company. The purchase of the insurance company...
Maine Hopes Resource List Will Aid Homeowners
Jun 1 2004 // Maine Superintendent of Insurance Alessandro A. Iuppa has announced a new resource to assist property owners who have had difficulty obtaining insurance for specific types of residential property insurance risks. “It...
Mass. High Risk Rules on Commissioner’s Desk; Safe Driver Plan Next on Reform Agenda
Jun 1 2004 // As expected, last week the governing committee of the high risk auto reinsurance facility in Massachusetts approved rules guiding the pool’s changeover to an assigned risk plan. Commonwealth Auto Reinsurers, known as...
Michigan Senate Takes Up Bill to Keep Insurers From Steering Claims
Jun 1 2004 // Auto insurers could not restrict policyholders from using the repair shop of their choice under legislation to be considered by the Michigan state Senate. Critics say some insurers currently send or direct claim holders to...
Anthem May Be Sole Biddder on Maine’s Dirigo
May 28 2004 // Anthem Blue Cross and Blue Shield of Maine has emerged as a possible sole bidder to provide coverage under Maine’s Dirigo Health Program. But Anthem, the only one of five insurance companies that expressed an...
S&P Reports on Japan’s Non-life Insurers
May 28 2004 // Standard & Poor’s Ratings Services has issued a report on the unconsolidated financial results of Japan’s 10 major non-life insurers for fiscal 2003 (ended March 31, 2004), indicating that they are...
NAIC Comments on A.M. Best Insurer Solvency Study
May 28 2004 // A recently published study by the A.M. Best Company, titled Best’s Insolvency Study: Property/Casualty U.S. Insurers, 1969-2002, provides further evidence that the national system of state-based insurance regulation...
Pa. House Backs Bill Addressing Insurance Insolvencies
May 26 2004 // A bill that would reportedly assure that policyholders of insolvent insurance companies would have their claims paid according to the agreed-upon deductible amounts under their policies passed the Pennsylvania House...
Stewart Title to manage P&C operation with Nexsure from XDimensional Technologies
May 26 2004 // With more than 7,400 issuing locations nationwide, you’d think a product line extension would be a simple process. But that wasn’t the case when Stewart Information Services Corporation decided to add Property...
Mass. Insurers Told of Ways to Manage High Risks
May 25 2004 // Pilgrim Insurance Company, a business process outsourcing firm in Boston, last week sponsored a timely seminar to promote awareness of auto reform and methods for managing high risk business in Massachusetts. Industry...
Mass. High Risk Plan Passes Key Vote; Insurers Expected to Begin Offering Agents Contracts
May 24 2004 // A plan to convert the state’s high risk auto reinsurance facility in Massachusetts to an assigned risk plan (ARP) was approved by the industry officials running the current plan at a special meeting on March 20. One...
Report: Auto Premium Errors Cost Insurers $15 Billion
May 21 2004 // Premium rating errors lowered the overall profits of auto insurance companies by an estimated $15.2 billion in 2003 due to inaccuracies in rating information, according to a new report. Quality Planning Corporation, in its...
Texas Approves Additional ISO Commercial Auto Tools
May 21 2004 // The Texas Department of Insurance (TDI) has cleared the way for insurers to make filings immediately using Insurance Services Office Inc.‘s (ISO) commercial auto advisory information. According to ISO, its advisory...
N.Y. Assembly Committee Forced to Vote on ‘Scaffold Law’ Reform Sought by Employers and Insurers
May 21 2004 // Chances there will be a vote on a key New York tort reform bill have improved after the Democratic sponsor of the bill has made a procedural move that will prompt the Assembly Labor Committee to consider his bill to reform...
California Senate OKs Bills Expanding Firebreaks and Insurance Rights
May 20 2004 // Bills to expand firebreaks around some rural homes and give homeowners greater insurance rights were approved recently by the state Senate. The four measures were introduced in response to the fires that ravaged large...
A.M. Best Affirms A- Excellent Rating for Majestic Insurance Company
May 19 2004 // A.M. Best Company has affirmed the A- (Excellent) rating for Majestic Insurance Company, a San Francisco-based workers’ compensation insurance carrier. This rating category is assigned to companies that have, on...
Insurers Urge Senate Panel to Extend TRIA
May 18 2004 // Congress should act this year to extend the Terrorism Risk Insurance Act (TRIA) for two years beyond its Dec. 31, 2005, expiration date because the private market alone cannot deal with further catastrophic terrorist...
High-Tech Systems Help Make the Agent an Underwriter
May 17 2004 // Many carriers, especially commercial lines carriers, rely on independent agencies to sell and service policyholders. The agency typically owns and maintains the relationship with the insured. Carriers that maximize agent...
PCI White Paper: Insurer Profitability Must Be Viewed Over Long Term
May 17 2004 // A white paper published by the Property Casualty Insurers Association of America (PCI) shows that insurance industry profitability must be evaluated over the long term and that loss costs, not investment return, are the...
INSURER SUES BOSTON CHURCH:
May 17 2004 // Lumbermens Mutual Casualty Co., accused by the Archdiocese of Boston of failing to cover payments to priest abuse victims, has filed a counter suit, claiming it should not have to cover damages from crimes. The Kemper...
