Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
A.M. Best Affirms Rating of Hang Seng Insurance Company
Dec 12 2002 // A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of Hong Kong- based Hang Seng Insurance Company Limited with a “stable” outlook. “The current rating reflects the company’s...
Report Rx for European Insurers Financial Health – $18 Billion Asset Sale
Dec 11 2002 // Many European insurers, including the two largest companies, Germany’s Allianz and France’s AXA, may be hanging “For Sale” signs on some of their operations in order to restore their battered...
Insurers Show Increasing Use of Enterprise Risk Management to Address Pressing Business Issues
Dec 10 2002 // A Tillinghast – Towers Perrin (Tillinghast) survey on Enterprise Risk Management (ERM), shows insurers around the world are increasingly adopting ERM, a relatively new approach to the strategic management and...
Cutter & Buck Announces D&O Insurer’s Rescission Notice
Dec 10 2002 // Seattle-based Cutter & Buck Inc. announced that the Company has received notice that its primary directors’ and officers’ liability insurance carrier is attempting to rescind the Company’s...
SCOR’s Kessler Confident Insurers Will Weather Current Crisis
Dec 10 2002 // Denis Kessler, who recently took over as CEO of France’s SCOR Group, told delegates attending the Les Entretiens de l’Assurance Conference in Paris that the insurance industry would weather the current storms...
NAFTA: Borders Open, Regulators Review Privacy and Inspection Concerns
Dec 9 2002 // Although the Bush Administration technically opened selected border crossings under the North American Free Trade Agreement (NAFTA) on Nov. 27, two key issues have arisen that could keep Mexican commercial vehicles from...
ISO Files Policy Forms and Rules for Insurers to Meet Terrorism Coverage
Dec 6 2002 // Insurance Services Office, Inc. (ISO) has filed with all state insurance regulators the commercial insurance policy forms carriers can use to sell terrorism coverage. The new ISO-developed forms contain standardized policy...
Top 5 Reasons Calif. Homeowners Insurance Rates are Rising
Dec 6 2002 // Representatives from the Personal Insurance Federation of California (PIFC), the Association of California Insurance Companies (ACIC) and the American Insurance Association (AIA) recently announced the top five reasons...
S&P’s Maintains Negative Outlook on Commercial Insurers
Dec 5 2002 // U.S. commercial-lines insurers are still plagued by inadequate reserves, according to Standard & Poor’s just-published outlook for 2003, and bullish pricing cannot simply sweep the problem away. Standard &...
ISO Says Insurers’ Losses from Seven-State Tornado Damage Stand at $460M
Dec 4 2002 // Insurers are expected to pay homeowners and businesses $460 million for insured-property losses from the rash of tornadoes, strong thunderstorm winds and hail that struck seven states on Nov. 9-10, according to preliminary...
S&P’s: Higher Premiums Support Personal Lines Insurers
Dec 4 2002 // Cash-strapped homeowners and automobile insurers have enacted the steep price increases necessary to recapture profitability, according to Standard & Poor’s just-published outlook for 2003, which puts the...
Calif. Court of Appeals Overturns E&O Decision
Dec 3 2002 // In a significant victory for insurance agents and brokers, the Ninth Circuit Court of Appeals has overturned a lower court decision that had permitted an E&O insurer to deny coverage to an insurance broker by...
S&P’s Sees Improvement for Personal Lines Insurers
Dec 3 2002 // The performance of both of the major coverages written by predominantly personal lines insurers – automobile and homeowners multi-peril insurance – have begun to improve, and there is the prospect of continued...
Pa. Gov: Insurers Should Postpone MCARE Collection to Allay Med-Mal Crisis
Dec 2 2002 // Pa. Gov. Calls for Postponement of MCARE to Allay Med-Mal Crisis Pennsylvania Governor Mark Schweiker announced he has directed Insurance Commissioner Diane Koken to request a postponement of Medical Care Availability and...
Ark. DOI Credit Directive Captures Insurer Attention
Dec 2 2002 // The National Association of Independent Insurers (NAII) announced that insurers are weighing the ramifications of a directive filed by the Arkansas Department of Insurance that amends the requirements for insurers using...
A.M. Best Places Ratings of Kingsway Under Review
Nov 28 2002 // A.M. Best Co. announced that it has placed the financial strength ratings of the insurance subsidiaries of Ontario-based Kingsway Financial Services Inc., and the senior unsecured debt rating of “bbb” on its...
S&P’s: Little Ratings Cheer for Insurers in Terror Law
Nov 26 2002 // The newly mandated adoption of terrorism risk by commercial property/casualty insurers in the U.S. casts a shadow on ratings prospects, compounding Standard & Poor’s negative outlook on the industry, according...
Littlefield Says Key Focus for U.S. Marine Insurers is to Improve Combined Ratio, Secure Ports
Nov 25 2002 // While the marine insurance industry has performed slightly better than the overall property/casualty market in recent years, the business is still navigating in some extremely stormy seas. That’s the assertion of...
S&P Says Japanese Non-Life Insurers’ Mid-term Results in Expected Range
Nov 25 2002 // Standard & Poor’s announced that the mid-term financial results for Japan’s major non-life insurance companies were within expectations and would not immediately affect its ratings on the...
MOODY’S EXPECTING MODEST LOSSES FOR P/C INSURERS’ INVESTMENT PORTFOLIOS
Nov 25 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies. However, in the newly released report,...
