Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Look to Wipe Clean Toxic Mold Claims
Jun 10 2002 // For U.S. insurers, reinsurers, and property professionals still reeling from the $32 million a Texas jury awarded Melinda Ballard in her toxic mold lawsuit against Farmers Insurance last year and the $18.5 million a...
CALIF. DMV HIT WITH INSURERS’ LAWSUIT
Jun 10 2002 // California’s Department of Motor Vehicles (DMV) was hit with a lawsuit May 22 by a number of insurance associations wishing to halt a fee hike that would reportedly double the price for motor vehicle reports. Filed...
INSURERS DAMAGED BY SPRING STORMS
Jun 10 2002 // According to the Insurance Services Office (ISO), U.S. insurers will pay out $700 million for damage from storms that wrecked havoc through 17 states at the end of April. The losses are the largest to hit the country since...
ACORD HONORS COMPANIES AT 2002 CONFERENCE
Jun 10 2002 // The 2002 ACORD Conference “Real World Solutions” wrapped up with a host of companies and individuals taking home awards for their performances over the last year in the industry. Among the winners were:...
$2.7 Billion PPG Asbestos Settlement Puts New Pressure on Insurers
Jun 10 2002 // A year ago insurance consultants Tillinghast-Towers Perrin published a report that global claims settlements and jury verdicts in asbestos related cases could reach $200 billion from over a million claims “before...
Insurers & Contractors Trying to Nail Down Proper Coverage
Jun 10 2002 // If you’re placing coverage for a client who is a contractor, there are three factors that determine what obstacles you will encounter: location, location, location. The real question, however, is whether it will stay...
Late Notice May Insure Responsibility for Pre-Tender Defense Costs
Jun 10 2002 // Texas requires automobile liability insurers and general liability insurers to include language in their policies establishing a “prejudice” requirement before late notice can be used as a defense. For...
Houston Theater Sues Insurer
Jun 10 2002 // The Alley Theater of Houston is suing its insurer, Gulf Group Lloyds Insurance Co., for reportedly failing to reimburse $6.5 million in damage caused by Tropical Storm Allison last year. According to the Houston Chronicle,...
AIA and NAII Oppose California’s SB 1763
Jun 10 2002 // California senators recently approved Senate Bill 1763, designed to restrict insurance companies from writing mold and liability restrictions into their policies. The bill, which was introduced by Senator Deborah Ortiz...
Insurers Offer Regulators Ideas on How to Maximize Data for Market Conduct Exam Process
Jun 6 2002 // In an effort to make the market conduct exam process more efficient, the P/C insurance industry has submitted a draft outline for a “Guide to Market Conduct Analysis” to the National Association of Insurance...
Calif. Insurers’ Homeowner Profits Drowning in Water Damage Claims
Jun 6 2002 // Rising household water damage claims have cost California insurers billions of dollars and are constricting the homeowners insurance market, according to a study done by the Insurance Information Network of California. The...
AAI Urges 3 States to Modify Approach for Safeguarding Consumer Information
Jun 4 2002 // Regulations being proposed in three states aimed at safeguarding consumer information should be modified so as not to encourage private lawsuits against insurers, according to the Alliance of American Insurers. The three...
NAII Says Calif. Senate Passage of Auto Bills
Jun 4 2002 // Three automobile insurance bills that the National Association of Independent Insurers (NAII) says would drive up the cost of insurance, increase the number of underinsured motorists, and threaten a company’s...
NAII Urging Iowa to Refrain from More Involvement in Hail-Damage Claims
Jun 3 2002 // The National Association of Independent Insurers (NAII) is urging the Iowa Division of Insurance to refrain from issuing new directives on claims involving hail damage to buildings and diminished value of vehicles damaged...
NAFTA Officials move in on Final Details Prior to Border Crossing Openings
Jun 3 2002 // Transportation officials from Canada, Mexico and the United States, as well as insurance and trucking representatives from those countries, met this week to review final safety, implementation and insurance concerns before...
AIA Finds Flaws with Investment Reporting Bill
May 31 2002 // A measure approved by the California State Senate is based on a flawed premise and will discourage charitable giving by insurance companies, says the American Insurance Association (AIA). “This bill is based on the...
AAI Says Consumer Group’s Claim Is Misleading
May 31 2002 // The Alliance of American Insurers (AAI) says that a recent letter on terrorism insurance sent by the Consumer Federation of America (CFA) to Senate Majority Leader Tom Daschle cited incomplete statistics and was misleading...
Mich. Legislative Panel Hears Testimony on Benefits of Credit Scores
May 30 2002 // Testifying before a Michigan House committee, a spokesperson for the Alliance of American Insurers said a bill being considered by state legislators that would prevent insurers from using credit scores to determine premium...
NAII Urges Senate to Reject Auto Body Shop Bill
May 29 2002 // The California State Senate convened on Tuesday to consider a bill that would, without constitutional authority or sound reason, ban an insurance company from owning or investing in auto body repair shops. “It is not...
ACE to Buy 22% Stake in Chinese P/C Insurer for $150 Million
May 29 2002 // Bermuda’s ACE Ltd. announced that it has entered into a strategic business partnership with Huatai Insurance Company, China’s fourth largest property/casualty insurer, and “will acquire 22% of...
