Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
P/C Insurers Expected to Pay $5.8B for Insured Property-Loss Catastrophe Losses
Feb 14 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
NAII Opposes Superfluous Credit Bills at Ore. Hearing
Feb 14 2003 // An Oregon regulation addressing credit-based insurance scores should receive a chance to take effect and work before lawmakers consider adopting unnecessary legislation that could prevent consumers from getting the...
Wash. Study on Insurer Use of Credit Should be Used Cautiously
Feb 13 2003 // A recent study by the Washington state Office of the Insurance Commissioner (OIC) about insurer use of credit history adds some interesting new pro-competitive angles to the public policy debate, according to American...
N.Y. Sues Unlicensed Health Insurer
Feb 13 2003 // Attorney General Eliot Spitzer and New York State Superintendent of Insurance Gregory Serio filed a lawsuit against an Albany health plan for reportedly operating without a license. The lawsuit alleges that the Millennium...
S&P’s Article Discusses Country Risk on Insurer Rtgs.
Feb 12 2003 // A criteria article published Tuesday details how Standard & Poor’s has revised its definition of insurer financial strength ratings to explicitly incorporate the potential for direct sovereign risk. Previously...
NAII Notes All States Have Addressed Privacy Legislation, While Handful Have Proposals Pending
Feb 11 2003 // Insurance companies with systems in place to meet state and Federal Privacy standards may need to do some “tweaking” down the road to assure continued regulatory compliance, according to the National...
Michael J. Cascio and Margaret M. Mattix Join Board of Philadelphia Insurance Companies
Feb 11 2003 // Philadelphia Insurance Companies announced that Michael J. Cascio and Margaret M. Mattix have been appointed to the Company’s Board of Directors. Board Chairman James J. Maguire said in a written statement, “I...
The Evolving Character of Technology Outsourcing
Feb 10 2003 // Perhaps it’s time to replace the word “outsourcing” with a new term. This might be especially appropriate for some of the technology outsourcing options available to the insurance industry today. To some,...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
Big Yellow Taxis and Long Black Cars
Feb 10 2003 // According to the Taxicab, Limousine & Paratransit Association (TLPA), in the U.S. alone there are approximately 6,300 companies operating 171,000 taxicabs. The TLPA, a non-profit trade association representing the...
Terrorism Risk Insurance Program: A Progress Report
Feb 10 2003 // With a federal terrorism reinsurance backstop now in place, the industry is faced with implementing the provisions of the legislation in a timely and efficient manner. This has and will continue to require unprecedented...
BOAT INSURER MUST PAY $1 MILLION
Feb 10 2003 // A judge in Austin ordered a London- and Canada-based organization to stop marketing boat and other watercraft insurance in Texas without a license and to pay a $1 million fine imposed last year by Commissioner Jose...
Avoiding Waiver, Estoppel & Other Things That Go Bump In The Night
Feb 10 2003 // Every claims professional generally understands the need for reserving the carrier’s rights when a claim is made. Every claims handler understands many of the risks that go along with failure to reserve either timely...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
Big Yellow Taxis and Long Black Cars
Feb 10 2003 // According to the Taxicab, Limousine & Paratransit Association (TLPA), in the U.S. alone there are approximately 6,300 companies operating 171,000 taxicabs. The TLPA, a non-profit trade association representing the...
The Evolving Character of Technology Outsourcing
Feb 10 2003 // Perhaps it’s time to replace the word “outsourcing” with a new term. This might be especially appropriate for some of the technology outsourcing options available to the insurance industry today. To some,...
Terrorism Risk Insurance Program: A Progress Report
Feb 10 2003 // With a federal terrorism reinsurance backstop now in place, the industry is faced with implementing the provisions of the legislation in a timely and efficient manner. This has and will continue to require unprecedented...
London Insurer Posts $3.24 Million Bail for Prestige Captain
Feb 7 2003 // A. Bilbrough & Co., the managing agents of the London Protection and Indemnity Club, the marine insurers that issued coverage for the oil tanker Prestige, have posted a 3 million Euro ($3.24 million) bond for the...
Calif. Commissioner Testifies Before Assembly Insurance Committee
Feb 7 2003 // California Insurance Commissioner John Garamendi testified before the Assembly Insurance Committee recently, discussing the impact of water damage and mold on consumers and the insurance industry. Below is the text of his...
Tool Helps Insurers Identify, Quantify Terrorism Risks
Feb 5 2003 // Insurers looking to identify and price terrorism exposures have a new tool available from decision-data expert Oxxford Information Technology, Ltd. Oxxford’s Vulnerability Index (www.risk-mkt-data.com), as the...
