Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Garamendi Returns $20,000 in Campaign Funds to Insurers
Feb 21 2002 // Politician John Garamendi recently announced that he returned $20,000 in political donations that he claimed he erroneously received from insurance concerns in two previous campaigns, according to the San Francisco...
NH Insurance Dept. Adopts AIA Proposal on Credit Scoring
Feb 20 2002 // The New Hampshire Insurance Department has validated the opposition of the American Insurance Association to a proposal to require prior written approval from consumers before insurers can use credit scoring by withdrawing...
Minn. House Committee Approves Scoring Bill
Feb 20 2002 // The Minnesota House Commerce committee has approved legislation that would prohibit insurers from canceling or non-renewing a consumer based only on their credit-based insurance score. The bill (HF 2492) originally banned...
Insurers Support NAIC’s Draft on Self-Audit Privilege
Feb 20 2002 // National Association of Insurance Commissioners’ (NAIC) draft language on self-audit legislation will help insurers comply with state laws and regulations without opening their doors to frivolous lawsuits or...
ACE, XL Reach Accord with Silverstein on WTC Claims
Feb 18 2002 // Settlement negotiations have been successfully concluded between Silverstein Properties, the master leaseholder on the destroyed World Trade Center, and ACE Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd, operating...
Twenty-One States Introduce Bills to Ban, Restrict Use of Credit-Based Scoring
Feb 15 2002 // As of Feb. 12, 2002, 21 states have introduced bills that would ban or restrict the use of credit-based insurance scoring according to the National Association of Independent Insurers. On Feb. 13, the Minnesota House...
Ohio One of First States to Eliminate Paper Filings for Insurers
Feb 14 2002 // Ohio Department of Insurance Director Lee Covington announced that Ohio is among the first states to no longer require insurance companies to make paper financial statement filings to the Department of Insurance. The...
Changes to NAIC’s Record Retention Model Could Require Amendments to Existing State Statutes
Feb 14 2002 // Suggested changes to the National Association of Insurance Commissioners’ (NAIC) Market Conduct Record Retention Model Regulation could require that state legislatures amend existing statutes in order to achieve...
AK Gets Bill Banning Insurers’ Use of Credit-Based Scores
Feb 14 2002 // Alaska has joined the growing number of states considering legislation to prohibit insurers from using credit-based insurance scores. “This legislation would result in higher insurance premiums for most consumers in...
Neb. Says No to Some Terror Exclusions, Yes to Those for Mold
Feb 13 2002 // The Nebraska Department of Insurance Director Tim Wagner announced that the department plans to disapprove personal lines exclusions for losses arising from terrorism, including exclusions for so-called nuclear and...
Workers’ Comp Insurers Grapple with Market Changes after 9/11
Feb 13 2002 // Both small and large workers’ compensation insurers are experiencing unsettling challenges to their business thanks to the lack of reinsurance coverage in the wake of the Sept. 11 terrorist attacks according to the...
Wash. Committees Approve Bill Restricting Use of Credit-Based Scores
Feb 11 2002 // Washington State Senate and House committees have approved bills restricting insurers’ use of credit-based insurance scores. If enacted, the law would result in increases in auto and homeowners premiums for many...
PIFC Explains Insurers’ Role for Salvaged Vehicles
Feb 11 2002 // The California Senate Insurance Committee recently convened a hearing with member companies of the Personal Insurance Federation of California (PIFC) to discuss how auto insures are complying fully with state vehicle code...
Commercial Auto Agents: Between a Rock and a Hard Market
Feb 11 2002 // The cyclical ups and downs of the multisegmented arena referred to collectively as commercial auto are nothing new. Though the years referred to as “soft” and “hard” vary in both length and...
Consumer Organization Files Suit Against Three Auto Insurers
Feb 11 2002 // Harvey Rosenfield’s California-based Foundation for Taxpayers and Consumer Rights (FTCR) filed separate lawsuits on Jan. 9 against three major auto insurers, Geico Corp., SAFECO Corp., and the Automobile Club of...
Before Diving in, Agents Attracted by Captive Profits Must Analyze Challenges
Feb 11 2002 // Thinking of forming an agency captive? An agent-owned captive insurance company involves an agency capitalizing either a domestic insurance company or an offshore insurance company. Richard Turner, president of...
Before & NAFTA: Open Borders, Long Term Effects on Long-Haul Trucking
Feb 11 2002 // Now that Congress and the Bush administration have struck a deal to pave the way for NAFTA trucking provisions—which the U.S. had been found to be violating for most of last year—the task of actually implementing these...
INSURERS PRAISE BUSH
Feb 11 2002 // In reaction to President Bush’s State of the Union speech, the American Insurance Association (AIA) stated that the President’s focus on the continuing danger of another terrorist attack should remind Congress...
Building Profitability into the Commercial Auto Market
Feb 11 2002 // Like most property and casualty insurance lines, the commercial auto insurance market has witnessed rate increases over the past year and expects to see more. And, as in other lines, underwriters are scrutinizing accounts...
Before & NAFTA: Open Borders, Long Term Effects on Long-Haul Trucking
Feb 11 2002 // Now that Congress and the Bush administration have struck a deal to pave the way for NAFTA trucking provisions—which the U.S. had been found to be violating for most of last year—the task of actually implementing these...
