Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Oxley Forecasts Insurance Issues Awaiting the 108th Congress
Jan 13 2003 // For more than a year, the issue of federal backstop legislation for terrorism risk has dominated Congress’ attention when it comes to insurance industry issues. Now that the Terrorism Risk Insurance Act has been...
AIG To Establish Life Insurance Company in Ukraine
Jan 7 2003 // American Life Insurance Company (ALICO), a subsidiary of American International Group, has received a license from the Ministry of Finance to operate a wholly owned life insurance company in Ukraine. The operation will be...
Silverstein Files Appeal Briefs Forming Right to Recover Two Occurrences from WTC Insurers
Jan 7 2003 // Silverstein Properties Inc., along with the Port Authority and other insureds, has filed two briefs with the United States Court of Appeals for the Second Circuit establishing that the attacks on the World Trade Center...
Capital BlueCross Against Proposed Pa. Health Insurance Tax
Jan 6 2003 // Capital BlueCross President and CEO James Mead issued a statement supporting Pennsylvania Gov.-elect Ed Rendell’s proposed health insurance reserve tax to help alleviate the state’s medical malpractice...
J.P. Morgan Reports Settlement with 10 of 11 Insurers in Surety Case
Jan 2 2003 // J.P. Morgan Chase & Co. announced it has settled its dispute with 10 of the 11 insurance companies regarding the surety contracts issued by those companies that guaranteed obligations of Enron Corp. to JPMorgan Chase...
Society Meeting Reports Insurers Have Much to Think About in Dealing with Present Challenges
Dec 31 2002 // According to speakers at the Society of Insurance Research’s annual meeting, the strategic challenges confronting insurers include the rapid pace of change, terrorism, asbestos, the need to reform the tort system,...
Ferrando Decision “Disappointing, But Not Surprising,” Alliance Says
Dec 31 2002 // The Alliance of American Insurers, which had filed an amicus brief in the Ferrando uninsured motorist case with the Ohio Supreme Court, said the decision “to overturn an appellate court ruling related to underinsured...
Report Japanese Insurer Files Suit against Fortress Re and Accountants
Dec 30 2002 // Japan’s Aioi Insurance Co. has filed a lawsuit in North Carolina against Fortress Re and its accounting firm, Deloitte & Touche LLP, alleging improper acts by the privately owned reinsurer’s directors and...
Ohio Court Rules Against Insurers in Ferrando Case
Dec 30 2002 // Ohio’s Supreme Court has ruled in the case of Ferrando v. Auto Owners that uninsured or underinsured motorist coverage (UM/UIM) may be claimed even in cases where there has been a length delay in notifying the...
HSBC to Buy Singapore Insurer
Dec 26 2002 // London-based Hong Kong & Shanghai Bank Holdings Plc (HSBC) has agreed to acquire Singapore-based Keppel Insurance for around $86 million in cash. The group is currently owned by the Belgian-Dutch Fortis Group and...
Report Fitch Puts Chilean Insurers on Watch
Dec 26 2002 // Fitch has placed all of the insurance companies in Chile that it covers on a general credit watch over worries about the weakened state of the local market and concerns over the resulting decline in their financial...
Oklahoma Orders Receivership for Unlicensed Insurer
Dec 25 2002 // Oklahoma Insurance Commissioner Carroll Fisher obtained a temporary court order placing Fairway Employment Services into receivership. According to the insurance department Fairway, along with a number of affiliated...
Agent Suspended in Oklahoma
Dec 24 2002 // Oklahoma Insurance Commissioner Carroll Fisher suspended the license of Ponca City insurance agent Mark Jordan, who is accused of several violations of the Oklahoma Insurance Code over a number of years. Under the order,...
N.J. Insurance Dept. to Investigate Insurers’ Refusal to Sell Basic Policies
Dec 24 2002 // New Jersey Insurance Commissioner Holly Bakke has ordered an investigation into the refusal of auto insurers to sell the state’s Basic Policy, a low-cost plan mandated by law since 1998. The Commissioner’s...
Top Texas Home Insurers Asked to Justify Rates
Dec 23 2002 // The Texas Department of Insurance (TDI) sent letters to the top 10 companies writing homeowners insurance in Texas asking them to voluntarily file their rates by January 2, 2003. TDI also requested that the companies to...
AAI Pleased with Second Interim Guidance on Terrorism Insurance
Dec 20 2002 // The U.S. Treasury Department’s second set of guidelines to aid insurers in complying with the Federal Terrorism Risk Insurance Act, issued Dec. 18, addresses insurer participation in general, scope of coverage,...
Bermuda Insurers Join Inreon Reinsurance Trading Platform
Dec 20 2002 // Inreon, the Internet trading platform for reinsurers and intermediaries founded by Munich Re and Swiss Re, announced that a “growing number of global reinsurance groups, including new Bermuda start-ups, have...
State Regulators Rush to Assure Policyholders on Conseco
Dec 19 2002 // The Insurance Departments of several Midwestern states have rushed to assure policyholders that Conseco’s long anticipated bankruptcy filing, announced yesterday, will have minimal impact on their investments. The...
Silverstein Triumphs Against Attempt by Insurers to Avoid Two Occurrence Claim
Dec 19 2002 // Silverstein Properties Inc. announced that Judge John S. Martin, Jr. has rejected an attempt by three insurers to avoid a jury trial on whether they were liable to pay on a two occurrence basis for the destruction of the...
Weak Investment Results Throw Curve at P/C Insurers’ Recovery at Nine-Month Mark
Dec 18 2002 // Thanks to strong premium growth and lower catastrophe losses, the U.S. property/casualty industry earned $9.3 billion in net income after taxes through nine-months 2002, in sharp contrast to the $2.6 billion net loss...
