Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Texas Becomes a Direct Action State’
May 3 2004 // Got your attention, didn’t I? One of those things every Texas insurance professional knows is that Texas is not a direct action state—simply put, an injured third party cannot sue the tortfeasor’s insurance...
AIA OPPOSES REGULATION TO RESTRICT INSURER’S USE OF CREDIT INFORMATION IN WYOMING:
May 3 2004 // A proposed regulation (Chapter 56) to restrict the use of credit-based insurance scores could actually cause unintended consequences for Wyoming consumers, according to the American Insurance Association (AIA)....
Agency Management Systems: Still Waiting for True Integration with Carriers
May 3 2004 // The true integration of agency management systems with carrier systems may be on the horizon—but current market dynamics make it a very distant horizon. In the meantime, more of the policy transaction process and...
TEXAS AG SETTLES WITH INSURERS:
May 3 2004 // Texas Attorney General Greg Abbott reached a final settlement with two auto insurers that will result in estimated refunds of more than $700,000 to Texas policyholders who paid more on their claims for auto repairs than...
Agency Management Systems: Still Waiting for True Integration with Carriers
May 3 2004 // The true integration of agency management systems with carrier systems may be on the horizon—but current market dynamics make it a very distant horizon. In the meantime, more of the policy transaction process and...
P/C Income, Surplus Rise Sharply in 2003
May 3 2004 // The property/casualty insurance industry’s net income after taxes rose to $29.9 billion in 2003—nearly 10 times the industry’s $3 billion in net income in 2002. Benefiting from both the $29.9 billion in net...
INSURER THAT TRIGGERED NEVADA MALPRACTICE CRISIS PAYS $1 MILLION:
May 3 2004 // The St. Paul insurance companies, whose pullout from the medical malpractice insurance market caused a crisis for Nevada doctors, will pay a group of Las Vegas physicians $900,000 under terms of a settlement announced...
Agents Add Value with Customer Self-Service
May 3 2004 // From the consumer’s perspective, the insurance industry often seems schizophrenic about service. Who do you contact for help on routine billing or policy matters? The agent? The carrier? Either one? Depending on the...
GAO Study Finds Unauthorized Health Insurers Piled Up $252M in Unpaid Claims
May 3 2004 // A study conducted by the U.S. General Accounting Office (GAO), released at the end of February, found that unauthorized health insurers are costing workers significant amounts in unpaid benefits. The entities surveyed, who...
Best Offers Its Suite of Reinsurance Information for P/C and Life/Health Insurers on CD-ROM and Online
May 3 2004 // A.M. Best Co. announced the availability of “Best’s Statement File Supplement for Schedule F and Schedule S” on a single CD-ROM that contains both databases. “These databases include reinsurance...
AIA Satisfied with Fla. Legislative Session
May 3 2004 // The Florida legislature wrapped up its annual session last Friday night, giving final approval to key measures that will add capacity to the state’s hurricane reinsurance fund and put the workers’ compensation...
Mass. Commissioner Orders High Risk Pool Changes Within 30 Days; Governor Names Reform Task Force
Apr 30 2004 // Just hours after Massachusetts Insurance Commissioner Julianne Bowler formally called upon the industry to come up with a plan to change the way private passenger auto high risks are handled, officials of Commonwealth Auto...
Jury Renders Partial Verdict in WTC Recovery Case
Apr 30 2004 // The federal jury that has been deliberating the complex issue of how much Silverstein Properties, the master leaseholder of the World Trade Center, should recover from its insurers has reached a partial verdict. On...
Report on Mass. Auto Cites Rate Subsidies and Barriers to Entry; Romney to Name Task Force
Apr 29 2004 // A much-anticipated analysis of the Massachusetts private passenger auto insurance system finds that 14 percent of the state’s drivers pay less than loss costs indicate they should, while 86 percent pay more to...
RMS Study Shows Risk From CAT Events for WC, Life, Health Insurers
Apr 29 2004 // Risk Management Solutions Inc. (RMS), a provider of products and services for catastrophe risk management, released the findings of an in-depth study that provides workers’ compensation, life, and health insurers...
Insurers Again Looking for Less Regulation in Louisiana
Apr 29 2004 // Four months after a new law gave insurance companies more freedom to raise their rates, insurance lobbyists were back before a House panel asking for even looser regulatory restraints. According to the Associated Press,...
Judge Tells WTC Jurors They Can Render Separate Decisions on Four Lloyd’s Insurers
Apr 27 2004 // In what reports have characterized as a minor victory for Silverstein Properties in the WTC insurance recovery case, Judge Michael Mukasey told the jury, which ended five days of deliberations yesterday, that they could...
Feds Stymie Insurers’ Claims Against Alleged Terrorists
Apr 27 2004 // U.S. officials and insurance companies representing Sept. 11 victims are locked in an unusual legal standoff, stemming from the government’s refusal to admit it has the alleged mastermind of the attacks in...
Dorel Unveils Q1 Update; Insurer Dispute Raises Costs
Apr 27 2004 // Canada-based Dorel Industries Inc. announced that due to a dispute with one of its insurance carriers over the aggregate amount of insurance available to the company, including one claim that came due this month, Dorel is...
CDI Announces Online Workers’ Compensation Rate Comparison Tool
Apr 27 2004 // Insurance Commissioner John Garamendi announced Tuesday the launch of an online comparison tool listing rates of the top 50 workers’ compensation insurers in the California market. The feature, at...
