Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Reports Says, Despite Insurer Efforts, Fraud is Still a Serious Problem
Jan 11 2002 // An Insurance Research Council (IRC) and Insurance Services Office Inc. survey shows that insurers of all sizes consider fraud “a serious problem.” According to a PRNewswire report, more than one-third of...
S&P Reports Insurers to Cut Coverage for Losses
Jan 10 2002 // Several commercial insurers will cut coverage for losses caused by acts of terror, allowing 2001 policies to go unrenewed for 2002, Standard & Poor’s reported. It added that the withdrawal from the market will...
NAII Claims CDI Unreasonably Forces Insurers to Provide Terrorism Coverage
Jan 10 2002 // California State insurance regulators announced that insurance companies must offer terrorism coverage even though Congress has failed to provide an essential backstop for insurers in the event of future terrorism...
U.K. Insurers to Pay $216 Million Levy
Jan 8 2002 // The U.K.’s Financial Services Administration (FSA) will ask Britain’s general insurers to pay a levy of 0.66 percent of their premium income in order to raise £150 million ($216 million) to pay the claims...
Ohio Court Ruling a Victory for London Insurers
Jan 8 2002 // Lord, Bissell & Brook, a legal firm representing London Market Insurers in a lawsuit filed against the insurers by The B.F. Goodrich Company, announced that a Summit County, Ohio court has granted summary judgment and...
Insurers See Mixed Results for New Technology Investments, Survey Says
Jan 8 2002 // According to a just-released Tillinghast-Towers Perrin survey, insurers using traditional business measures are discovering spotty evidence of success for their new technology investments. Yet, even in the aftermath of the...
Calif. Won’t Adopt Terror Exclusions
Jan 8 2002 // According to a Jan. 7 Los Angeles Times article, California has refused to allow insurers to adopt terrorism exclusion language, a move which has already been by approximately 20 other states in the wake of Sept. 11. The...
Deloitte Consulting Lists Top 10 Global
Jan 4 2002 // While wealth management is fairly advanced in the U.S., the funding of pensions will increasingly move from public to private pension providers for the rest of the world. Becoming more proficient at managing enterprise...
IRMI Supports Penn. Lawyers; Insurers to Blame for Malpractice Cost Rise
Jan 3 2002 // The International Risk Management Institute (IRMI) has issued a statement supporting the contentions of the Pennsylvania Trial Lawyers Association(PaTLA) that the insurance industry’s own business practices are...
Silverstein Files Suit against Travelers
Jan 3 2002 // World Trade Center leaseholder Larry Silverstein is pursuing the legal battle regarding property claims resulting from the Sept. 11 terrorist attack on the twin towers. World Trade Center Properties LLC, an affiliate of...
J.P. Morgan Chase Objects to Insurers Seeing Enron Details
Jan 3 2002 // J.P. Morgan Chase has filed an objection to a request by insurers who have reportedly refused to honor $1.1 billion in surety bonds and are requesting access to Enron Corp. financial records to see if energy contracts...
ISO to Offer Proof of Coverage Services to Workers’ Comp Insurers
Dec 31 2001 // In expanding its workers’ compensation services, Insurance Services Office Inc. (ISO) has signed a definitive agreement to enter into an exclusive and perpetual licensing arrangement with HNC Software Inc. to offer...
INSURERS TO RESOLVE 9/11 DISPUTES
Dec 24 2001 // A number of major U.S. insurance companies agreed to resolve inter-insurer disputes in relation to the Sept. 11 acts of terrorism through unfacilitated negotiation and mediation, rather than in court. The CPR Inter-Insurer...
Welcome to the 3rd Annual “Top Ten Stories of the Year”
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Congressional Stalemate Could Slow Down Economic Recovery
Dec 24 2001 // The political stalemate that resulted in Congress’ failure to implement a federal terrorism insurance backstop could stifle an economic recovery and shifts the pressure for handling such risks to state regulators....
Nekema, InsurePoint.com Finalize Merger
Dec 24 2001 // New Jersey-based Nekema Inc. and Ohio-based Insure-Point.com Inc. finished up plans to merge before the end of the year. Company officials recently announced that the newly combined company will operate under the Nekema...
Bush Signs 2002 Transportation Bill: NAFTA Safety Mandates Meet Insurers Expectations
Dec 21 2001 // The National Association of Independent Insurers (NAII) is pleased that HR 2299, the Department of Transportation and Related Agencies Appropriations Act, 2002 recently signed by President Bush provides funding to...
Insurers Lament Senate Inaction on Crucial Federal Terrorism Insurance Legislation
Dec 21 2001 // The push to enact federal terrorism insurance before the end of the year failed on Dec. 20 after promising Senate legislation was held hostage because some provisions ran contrary to the trial lawyer’s agenda,...
New York Attack Caused Record Losses for Property Insurers
Dec 21 2001 // Initial Swiss Re estimates say that 2001 was a very costly year for property insurers. In a PRNewswire report, man-made and natural catastrophes claimed more than 33,000 lives worldwide in 2001, with the direct financial...
Kemper Insurance Companies Receives Torch Award
Dec 20 2001 // As a result of its strong focus on business ethics, the Kemper Insurance Companies was recently awarded the Chicago Better Business Bureau’s fifth annual Torch Award for Marketplace Ethics. The award was given in the...
