Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Andersen Insurer Refuses $217M Payment
Apr 2 2002 // Accounting firm Andersen has announced that its insurance carrier, Bermuda-based Professional Services Insurance Co., has not given its approval to a trust payment of $217 million for a Baptist fund-raising group over...
IIAA Applauds Introduction of Natural Disaster Bill
Apr 2 2002 // The Independent Insurance Agents of America (IIAA) is endorsing a just-introduced House bill that would increase availability and affordability of homeowners insurance in disaster-prone areas, according to the...
Insurers Applaud NAIC Action
Apr 1 2002 // In a significant victory for the National Association of Independent Insurers (NAII), regulators were convinced that installment payment fees paid by policyholders should not be reported as written premium. The National...
Gartner Survey Reports Carriers Looking to Outsourcing
Apr 1 2002 // As insurance carriers face competitive pressures to reduce operating costs and streamline business operations, many insurers are turning to business process outsourcing (BPO) and information technology outsourcing to...
AIG Member Co. Launches New Insurance Processing Solution for P&C Insurers
Mar 29 2002 // American International Technology Enterprises, Inc. (AITE), a member company of the American International Group, Inc. (AIG) and a provider of insurance systems and solutions, introduced WINS® Digital, web-based...
Idaho Gov. Signs Bill Restricting Insurers’ Actions Based ‘Primarily’ on Credit History
Mar 29 2002 // Gov. Dirk Kempthorne signed Senate Bill 1408, restricting insurers’ use of credit-based insurance scores, earlier this week despite being urged by several insurers and trade groups to veto it. National Association of...
Minn. Gov. Signs Bill Banning Managed Care Services in No Fault Auto Claims
Mar 29 2002 // Minnesotans may need to brace themselves for a sharp rise in auto insurance premiums as a result of legislation recently signed by Gov. Jesse Ventura that severely restricts insurers ability to contain medical costs...
American Re Appoints New Senior Management Team in Strategic Business Units
Mar 27 2002 // American Re-Insurance Company announced the appointment of a new senior management team to direct the five Strategic Business Units of its U.S. property casualty underwriting operations, as well as the appointment of chief...
AXIS Gains Wide Access to U.S. Market with Company Acquisitions
Mar 26 2002 // Newly formed Bermuda insurer AXIS Specialty Limited announced that that its US subsidiary, AXIS Specialty U.S. Holdings, Inc., has entered into agreements to purchase the Royal & SunAlliance Personal Insurance Company...
P&C Insurers See 2001 Profits Dip Drastically
Mar 26 2002 // The nation’s property and casualty insurers lost $738 million during the first nine months of 2001, compared to a $19 billion profit during the same period in 2000, according to research conducted by Weiss Ratings,...
AAI Praises DOT Safety Requirements for Visiting Mexican Trucks
Mar 25 2002 // Calling it a step forward in making American highways safer, the Alliance of American Insurers (AAI) praised the U.S. Department of Transportation’s newly established safety requirements for Mexican trucks and buses....
Insurance Fraud: A Perpetual Bane for Industry, Consumers
Mar 25 2002 // Since the insurance industry’s inception, fraud has proved a perpetual problem, an inherent risk that will likely never be totally eliminated. Carriers have long warned that fraud ultimately causes them to raise...
Workers’ Comp Texas, A League of its Own
Mar 25 2002 // One of the many singular phenomena that sets Texas apart from the rest of the U.S. is the fact that it is the only state in the Union that does not require its employers to participate in the workers’ compensation...
Workers’ Comp TexasA League of its Own
Mar 25 2002 // One of the many singular phenomena that sets Texas apart from the rest of the U.S. is the fact that it is the only state in the Union that does not require its employers to participate in the workers’ compensation...
Insurance Fraud: A Perpetual Bane for Industry, Consumers
Mar 25 2002 // Since the insurance industry’s inception, fraud has proved a perpetual problem, an inherent risk that will likely never be totally eliminated. Carriers have long warned that fraud ultimately causes them to raise...
Approval of State Farm HO-W Policy Applauded
Mar 25 2002 // State Farm Lloyds, the Dallas-based property insurance unit of State Farm Insurance Companies, received approval from the Texas Department of Insurance (TDI) to sell its nationwide homeowners policy, the HO-W, in Texas,...
The Real Truth About Credit Scoring
Mar 25 2002 // The insurance industry would like the public to believe they have found the holy grail of underwriting: credit scores. Since they now have this vehicle to make sure that only good drivers get good rates and bad ones pay...
S&P Report Warns Insurers on Financial Guarantees
Mar 22 2002 // Following Enron’s collapse and the lawsuit filed by JP Morgan Chase against several insurers, Standard & Poor’s undertook a thorough review of the risks involved in underwriting financial guarantees as...
Minn. Senate Passes Legislation Restricting Use of Credit-Based Scores
Mar 20 2002 // Legislation that would prohibit insurers from canceling or non-renewing policyholders based solely on their credit-based insurance score passed the Minnesota Senate last week. “While Senate File 2363 is an...
NAII Says Insurers Faced Stiff Opposition in
Mar 20 2002 // Insurers faced some stiff opposition in the recently concluded Washington legislative session according to the National Association of Independent Insurers (NAII). Insurers succeeded in improving the initial version of...
