Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
American Family’s ‘AA’ IFS Rating Affirmed
Aug 2 2002 // Fitch Ratings has affirmed the “AA” insurer financial strength rating of American Family Mutual Insurance Company (American Family) and its three property- casualty insurance subsidiaries, American Standard...
Price Fixing Denied by German Insurers
Aug 1 2002 // A group of German insurance companies accused of having fixed prices for industrial insurance policies are denying those allegations, according to the Financial Times Information service. German prosecutors raided the...
Chubb Executive Urges Cooperation Between IT and Risk Management Depts.
Aug 1 2002 // An executive with a leading commercial insurer is urging information technology departments to share information regarding attacks on corporate Web sites and computer networks with risk managers and insurers. Without...
Financial Keyosk Introduces ‘Agency in a Box’
Aug 1 2002 // Illinois-based Financial Keyosk has introduced a new technology platform, “Agency in a Box,” which the company says is a turnkey solution that will allow thousands of agents to start their own independent...
A.M. Best Affirms Rating of OneBeacon’s Subsidiaries
Aug 1 2002 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of the insurance subsidiaries of OneBeacon Insurance Group, Boston. A.M. Best also affirmed the indicative shelf registration ratings for Fund...
IIABA Outlines Models for Auto Reform to NCSL
Jul 31 2002 // Today’s auto insurance oversight system suffers from a lack of efficiency, cost effectiveness, and timely decision-making, but greater regulatory reliance on market competition would help streamline and depoliticize...
Offices of German Insurers Raided by Government
Jul 30 2002 // As part of an investigation into alleged price fixing by industrial property and liability insurers, a German federal agency raided the offices of 13 insurance companies. According to BestWire, the offices of Allianz AG...
Insurers List Top Restructuring Strategies
Jul 30 2002 // In a departure from traditional corporate restructuring strategies, insurers are choosing ventures, alliances and outsourcing over mergers and acquisitions as their preferred vehicles for corporate restructuring, according...
ISO Estimates Insurers to Pay $2B for Second-Quarter Claims
Jul 29 2002 // Insurers are expected to pay $1.97 billion to homeowners and businesses for insured-property losses from 10 catastrophe events in the second quarter of this year, according to preliminary estimates by the Insurance...
AIA Says Mo. Injured Workers Lose under Department’s Managed Care Proposal
Jul 26 2002 // Changes proposed by the Missouri Department of Insurance to the state’s workers’ compensation managed care rules would add significant costs and confusion to the system, ultimately undermining the quality of...
Colo. P/C Insurer Fined
Jul 25 2002 // The Colorado Division of Insurance has fined property/casualty insurer GuideOne Mutual Insurance Company $15,500 as a result of a recent market conduct examination. Violations cited included the alleged failure of the...
Insurers Push for Global Terrorism Definition
Jul 25 2002 // As terrorism coverage continues to be excluded from more and more property and casualty policies, insurance industry leaders are advocating a global definition of terrorism. Tom Player, attorney at the Atlanta law firm...
Ill. Says Complaints against Insurers are increasing; HMO Complaints Decline
Jul 24 2002 // Illinois consumers filed more complaints about their insurance companies, but fewer against their HMOs, according to the 2001 consumer complaint statistics released by Illinois Director of Insurance Nat Shapo. The Illinois...
Regulators Approve ISO Fire-Protection-Class Database of U.S. Property Addresses for Insurers’ Use a
Jul 23 2002 // With Maine on board, insurance regulators in 44 states and Washington, D.C., have approved Insurance Services Office Inc.’s (ISO) LOCATION™ database of Public Protection Classifications (PPC™), the ISO program...
IIABA Takes Role in Asbestos Litigation Battle
Jul 23 2002 // The Independent Insurance Agents & Brokers of America (IIABA) is ratcheting up its work and grassroots advocacy on the growing asbestos-litigation problem that has insurance companies and business inexorably in the...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Surplus Lines, The Industry’s Safety Valve
Jul 22 2002 // It is a rare occurrence today, but not so long ago tying down the safety valve was viewed as an acceptable way to improve a steam boiler’s performance when demand peaked. The objective was to increase the...
Profits Fell, Losses Climbed for P/C Industry
Jul 22 2002 // It’s pretty much common knowledge by now that the property and casualty insurance industry suffered tremendous losses in 2001, and although the tragedies of September 11 can be blamed for much of the economic...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Surplus Lines Industry Continues to Play its Role
Jul 22 2002 // Since it’s inception in the early 19th century, the surplus lines industry has played a significant role in the insurance world: providing the buyer with insurance not available in the standard, admitted markets. As...
