Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Is the Economy Driving the Sub-Standard Auto Market in Texas’
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...
La.’s Deputy Commissioner Takes on Rating Board, Struggling Firm
Mar 24 2003 // According to Jim Donelon, Chief Deputy Commissioner of the Louisiana Department of Insurance (LDI), the answer to the homeowners’ insurance crisis in Louisiana is to move to a file and use rating system, and to...
Managing Claims
Mar 24 2003 // In these days of sky high premium rates a sales person needs an edge when trying to close a sale. Many firms are adding extra services to woo new clients and retain the existing ones as well. These ideas are great....
No Cancellations on Gulf Related Coverage – Yet, But Insurers Warn of Surcharges
Mar 21 2003 // Despite the onset of the long anticipated war with Iraq, there have as yet been no outright cancellations of coverage relating to the Persian Gulf Region. Many insurance companies, however, have warned that they will...
Chicago Nightclub Insurer Sues to Avoid Payment
Mar 20 2003 // Liquor establishment specialty insurer Illinois Casualty Co. has filed suit to avoid payment on two policies held by the Chicago nightclub and restaurant where 21 people died last month in a stampede, according to the...
Industry Faces Reality of War in Iraq
Mar 20 2003 // As war began last night with U.S. air attacks on selected targets in Baghdad, that apparently just missed Saddam Hussein, the insurance industry nervously prepared for the global fallout. Commercial insurers warned their...
S&P’s Article Discusses Insurer Credit, Liquidity Support
Mar 19 2003 // Standard & Poor’s has published an article that explains the rating criteria for credit and liquidity support provided by insurers. Capital-markets transactions are often supported by credit or liquidity...
AIA: Industry Investment Losses Not Driving Med Mal Premiums
Mar 19 2003 // Rising claims costs, not stock market losses, are the real culprit behind increasing medical malpractice premiums for Illinois physicians, a policy analyst for the American Insurance Association (AIA) told legislators at a...
CT Broker Implements Xcipio’s Pilot Program for Single-Point-of-Entry Access System
Mar 18 2003 // Massachusetts-based Xcipio, announced that Burns, Brooks & McNeil, headquartered in Torrington, CT, one of New England’s largest independent insurance agencies, has implemented its XcelerRator(TM) system...
Big Day for NJ Auto Reform Supporters
Mar 18 2003 // St. Patrick’s Day in Trenton NJ took on a decidedly political character as supporters of proposals to change the state’s restrictive automobile insurance regulations gathered at the state capital both inside...
NAII Notes Positive Modifications in VA 2003 Insurance Legislation
Mar 17 2003 // “Virginia’s 2003 legislative session ended with the softening of many bills that could have made it much more difficult for insurance companies to conduct business in the state,” said an announcement from...
New Workers’ Comp Insurers Approved in S.C.
Mar 14 2003 // Newport Star Reinsurance Company and Accident Insurance Company (AIC) announced they have been approved by the South Carolina Department of Insurance, and are now able to offer property and casualty insurance with a...
AMS Introduces TransactNOW
Mar 14 2003 // AMS Services, Inc. has unveiled TransactNOW, a product that enables interface communication between carriers, agents and the AMS Services management system product line. TransactNOW allows agents to process business...
Allianz, Partners Close Terror Insurer for Lack of Business
Mar 13 2003 // “I was misinformed.” That line from “Casablanca” was apparently echoed last week with the announcement that Allianz and its five partners had decided to shut down their Luxembourg-based terrorist...
Selective Insurance Company of America Announces Promotions
Mar 13 2003 // Gregory E. Murphy, chairman, president and CEO of Selective Insurance Group, Inc., headquartered in Branchville, NJ, announced the promotions of Charles Adams, Bradford S. Allen, Andrew Becker, Jeffery F. Kamrowski, John...
Philadelphia Insurance Companies Offers Companion BOP for Professional Liability Products
Mar 13 2003 // Philadelphia Insurance Companies (PIC) announced the release of its new product offering, “the Business Owners Policy (‘BOP’)” for business professionals. “BOP provides comprehensive property...
Argonaut Posts Losses, Agrees to Sell Stock to HCC
Mar 13 2003 // Despite gains in three of its four business segments, San Antonio-based Argonaut Group said it posted a $105.3 million net loss for the fourth quarter 2002 and an $87.0 million net loss for the year. The 2002 net loss was...
AAI Calls Further NAIC Study of Credit Scoring Impractical
Mar 12 2003 // Conducting a study of the disparate impact of insurer use of credit scoring would be expensive and generate no corresponding benefit to consumers, according to the Alliance of American Insurers (AAI). A disparate impact...
Underwriting Losses Earn Warranty Insurer Lowered Rating
Mar 11 2003 // Nebraska-based auto warranty and service contract insurer National Warranty Insurance Co. has been downgraded to “B++” (Very Good) from “A-” (Excellent) by A.M. Best & Co. The rating action...
NAIC Told P/C Insurer Use of Arbitration Saves Time, Money
Mar 11 2003 // Property/casualty insurer use of arbitration as an alternative to the more formal and confrontational tort system results in a more efficient and equitable disposition of claims, benefiting both consumers and companies, a...
