Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
PCI Calls for Guaranty Fund Reforms
Jan 16 2004 // A rash of commercial insolvencies that has cost the insurance industry substantial amounts of money should be the impetus for state legislatures to consider proposals for guaranty fund reforms, according to the Property...
New ART Insurer Formed for Trucking Companies
Jan 14 2004 // Intermodal Insurance Co., a Federal Risk Retention Group, recently began providing commercial truck liability coverage. The new insurer has been established by five founding companies engaged in the local cartage of...
Weiss: 18 P/C Insurers Failed in 2003
Jan 14 2004 // With the economy gaining momentum during the second half of 2003, the number of failed insurance companies declined 21.4 percent, to 22 compared to 28 insurer insolvencies in 2002, according to Weiss Ratings Inc.. Four...
Insurers Meet with ACA to Improve Relations
Jan 13 2004 // Continuing to build an infrastructure between the insurance industry and the chiropractic profession, the American Chiropractic Association (ACA) recently participated in the latest in a series of conferences with leaders...
Mosher Joins Board of Directors for Employers Insurance Company of Nevada
Jan 13 2004 // Employers Insurance Company of Nevada, A Mutual Company (EICN), announced that Ronald F. Mosher has joined the company’s Board of Directors. Mosher possesses extensive knowledge of the insurance industry, and most...
Alliance, NAII Boards Approve Merger; New Group to be Called PCI
Jan 12 2004 // The governing boards of two of the nation’s largest property/casualty trade groups have agreed to a merger that would have more than 1,000 members and represent 40 percent of the P/C marketplace. The National...
Has the N.J. Auto Market Seen the Last of 30 Years of Mismanagement’
Jan 12 2004 // Last month the National Association of Independent Insurers issued a bulletin, which described New Jersey’s auto insurance market as “once the nation’s poster child for the dangers of over...
MASS. INSURER NEWBURY MERGES INTO DORCHESTER MUTUAL:
Jan 12 2004 // Massachusetts officials have approved the merger of West Newbury Mutual Fire Insurance Co., a Massachusetts domiciled company, into Dorchester Mutual Insurance Co., also a Massachusetts company. The purpose of the merger...
ISABEL COST VIRGINIA INSURERS $925 MILLION:
Jan 12 2004 // Hurricane Isabel’s cost to insurers in Virginia has more than doubled the original expectations, and now tops $925 million. The figure represents more than half of the total $1.69 billion in insured damage from the...
Insurers Seek $100 Million in Biggest N.Y. Fraud Suit
Jan 12 2004 // The Allstate Insurance Company, Encompass Insurance and Nationwide Mutual Insurance Company have filed a RICO (Racketeer Influenced and Corrupt Organizations Act) action in the Supreme Court of New York against 74...
Insurers Seek $17 Million from NJ Chiropractors
Jan 12 2004 // Allstate New Jersey Insurance Company and Encompass Insurance have filed a multi-million dollar civil complaint, under the New Jersey Insurance Fraud Prevention Act against Scott Greenberg D.C., a Central New Jersey-based...
Florida: Land of Opportunity, but for Whom’
Jan 12 2004 // Florida has long been considered a land of opportunity for companies seeking to expand into new markets, with its growing population, diverse economy, and expansive geography. The state’s attraction for insurers has...
Insurers Balk at Halliburton’s Asbestos Exit Plan
Jan 12 2004 // In mid-December 2003, Houston-basedHalliburton Company filed Chapter 11 bankruptcy proceedings for several of its subsidiaries, including DII Industries (formerly known as Dresser Industries Inc.) and Kellogg Brown &...
Strengthening Protection for Directors and Officers
Jan 12 2004 // Directors and officers liability premiums have risen by 30 percent—and sometimes by as much as 300 percent—in the past two years, following revelations of misdoings at corporations like Enron, Tyco and WorldCom. This...
Moody’s Comments on Italian P/C Insurers Outlook and Ratings
Jan 9 2004 // A report from Moody’s Investors Service notes a stable rating outlook for Italy’s rated P/C insurers and a steady improvement in results since 2001. “The continued upturn for most of the seven rated...
New California P/C Trade Association Formed
Jan 6 2004 // A new California state P/C trade association is being formed by a group of small and mid-sized California domestic insurers. The members write homeowners, auto and commercial lines except workers’ compensation and...
New Fla. Law Limiting Insurers’ Use of Credit Reports Takes Effect
Jan 5 2004 // Florida’s Chief Financial Officer Tom Gallagher said that a new law which went into effect Jan. 1 prohibits insurance companies from using a person’s credit history against them if they are dealing with...
Parmalat Scandal Widens; U.S. Insurers May Hold $1.6 Billion in Bonds
Jan 5 2004 // According to the latest accounts, Parmalat, the Italian dairy and food processing company, may have a shortfall in its accounts in excess of 8 billion euros ($10.1 billion), putting it on a par with Enron, as one of the...
Japanese Insurers Receive Fortress Re Payments
Jan 5 2004 // Three Japanese insurance companies have received at least part of the $1.12 arbitration award levied against Fortress Re (See IJ Website Dec, 23), a No. Carolina-based reinsurance company, which collapsed following Sept....
NYSID Publishes Annual Ranking of Automobile Insurance Complaints
Dec 31 2003 // The New York State Insurance Department has published its annual compilation of the state’s 50 largest automobile insurance companies or groups of companies based on the record of complaints in 2002 The NYSID...
