Carriers - Latest Insurance News

S&P’s Report Says Asbestos Driving Rift Between Insurers/Reinsurers

Apr 1 2003 // Asbestos exposure foreshadows a growing rift between insurers and the reinsurance companies that back them, according to a new report by Standard & Poor’s. “Disputes between insurers and reinsurers appear...

NAII: Ohio Industry Critic’s Report on Credit Scoring Misleading

Mar 31 2003 // A report released this month regarding Ohio insurers’ use of credit-based insurance scores incorrectly asserts that such scores intentionally and unfairly create a disproportionate impact on minority and low-income...

NAMIC Supporting Small Company Tax Inflation-Adjustment Legislation

Mar 31 2003 // Late last week, Senators Christopher Bond, R-Mo., and Tim Johnson, D-S.D., introduced S. 735, “Small Insurance Company Inflation Adjustment Act,” to amend the Internal Revenue Code of 1986 to clarify the tax...

A.M. Best Assigns Pooled ‘A’ Rating to State National Group

Mar 28 2003 // State National Companies announced that A.M. Best has assigned an ‘A’ (Excellent) rating to its pooled subsidiaries, State National Insurance Company (SNIC) and State National Specialty Insurance Company...

ACT Issues Recommendations for More Extensive, Effective Download Process

Mar 28 2003 // The Agents Council of Technology (ACT) Download Work Group affiliated with the Independent Insurance Agents & Brokers of America (IIABA) has issued a report to encourage carriers, vendors, and agents and brokers to...

Mich. Bill Would Restrict Aftermarket Parts

Mar 27 2003 // A Michigan bill that would place onerous restrictions on insurers ability to prescribe auto repair shops and use aftermarket parts would increase claims costs, ultimately hurting consumers, according to the Alliance of...

Allianz: No Plans to Cancel Airline Coverage, EU Prepares Back-up Help

Mar 26 2003 // Germany’s Allianz AG, one of the largest providers of coverage to the European Community’s air carriers, has issued a statement indicating that, while it has no plans to cancel coverage on flights headed for...

CDI Looks to Shore Up California’s Workers’ Comp Market

Mar 24 2003 // California Insurance Commissioner John Garamendi took center stage when he addressed the problems plaguing State Compensation Insurance Fund on the heels of his recent plans to reform California’s ailing...

P/C INSURERS’ PREMIUMS SURGE $28B IN FIRST THREE QUARTERS OF 2002

Mar 24 2003 // Premiums earned by the nation’s property and casualty insurers surged $27.8 billion, or 12 percent, during the first three quarters of 2002, to $258.7 billion from $230.9 billion during the same period in 2001,...

Med Mal Fever: When Doctors Walk Out, Politicians Notice

Mar 24 2003 // They’re baaack. High-flying medical malpractice liability claims losses, that is. The availability crisis of the 1970s and the affordability crisis of the 1980s may be nothing compared to the crisis insurers and...

Mold Legislation Continues Growth in State Legislatures

Mar 24 2003 // State lawmakers around the country have been busy introducing a variety of bills aimed at the issue of mold, how it is addressed by society, and how it is covered by insurers’. “We are currently tracking nearly...

Lost at Sea: Hardening Marine Market Challenges Agents and Brokers

Mar 24 2003 // Marine insurance is, as Insurance Journal put it last year, “a unique animal.” The belly of the beast consists of cargo and yacht coverage, which account for 50 percent of U.S. written premium. But another...

Does the economy drive sub-standard automobile insurance in California’

Mar 24 2003 // Have we finally arrived at the point where the economy is a critical factor in personal automobile insurance? Not quite but it is my opinion that we are closing in. Although insurance company annual statements do not...

Cooperative Agencies Can Increase Bottom Line

Mar 24 2003 // Whether you are trying to access major carriers’ markets for hard-to-place risks, find a way to brand your agency, or tap into the expertise of other veteran agents, a cooperative may be the way to go. Clusters,...

TRIA-a Flood of Paper, a Trickle of Buyers

Mar 24 2003 // December is the most dreaded month for a surplus lines broker. In addition to all the 12/31 and 1/1 renewals, one must deal with underwriters and employees having the gall to go on vacation, holiday parties, holiday...

Rates, Scores & the WTC

Mar 24 2003 // It looks like changes are underway in the Texas homeowners market. The legislature seems determined to bring down rates one way or another, and Insurance Commissioner Jose Montemayor’s preliminary report—developed...

Resurrection-First Steps to WTC Resurrection as Coverage Fight Continues

Mar 24 2003 // With the selection of the design submitted by Berlin-based architect Daniel Libeskind, rebuilding of the World Trade Center site has begun. Walking around the 16 acres of open space in the heart of New York one finally...

Study Says Lower Scores Mean Higher Loss Claims

Mar 24 2003 // The lower a named insured’s credit score, the higher the probability that the insured will incur losses on an automobile insurance policy, and the higher the expected loss on the policy.” That’s the...

Agency Cooperatives Can Boost Bottom Line