Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
NYSID Urges Assembly to Pass Risk Based Capital Standards for P/C Insurers
Mar 19 2002 // New York State Insurance Department Superintendent Gregory V. Serio urged the State’s Assembly to pass pending legislation which would extend the use of Risk Based Capital standards to property/casualty insurers. The...
Taiwan’s Insurers May Face Reinsurance Problems Says SP
Mar 19 2002 // Standard & Poor’s warned that Taiwan’s property and casualty insurance sector is “likely to face a tough year in 2002 due to hardening rates and structures offered by the global reinsurance market...
Gallant and Valor Ordered into Conservation in Ill.
Mar 19 2002 // Illinois Insurance Director Nathaniel Shapo announced that he obtained an Order of Conservation against Gallant and Valor Insurance Companies on Feb. 25, following the Department of Insurance’s determination that...
Wyo. Special Session Ends on Good Note for Insurers
Mar 19 2002 // Only a handful of insurance-related bills made it through Wyoming’s special legislative session, which ended last week. “Since this session was designed as a special budgetary session, it’s no surprise...
Conning & Co. Study Shows E-Business Coverage Risks Can Outweigh Rewards for Insurers
Mar 19 2002 // Businesses’ increased use of the Internet is making for a substantial growth opportunity for the emerging e-business insurance market, but e-business insurance may not be a good market for every insurer, according to...
