Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Reliance Insurance 1817-2001 – R.I.P’
Jul 23 2001 // Reliance Group Holdings (RGH), the parent company of Reliance Insurance Company (RIC), one of America’s oldest insurers which traces its roots back to 1817, filed for bankruptcy protection in the Southern District of...
Study Says Eight Insurers Command 65 Percent Market Share in Hurricane-Prone States
Jul 23 2001 // A recent study by Palm Beach Gardens, Fla.-based Weiss Ratings Inc. indicated that just eight large property and casualty insurers provide homeowners coverage to residents in hurricane-prone states. Weiss Ratings, a...
Are High-Flying Hospitality Markets Headed for a Free-Fall’
Jul 23 2001 // If the hospitality market has firmed recently to, say, the consistency of crème brulée, will it necessarily become more like peanut brittle in the coming months? Who knows? But like many areas of today’s economy,...
Insurers Throw a Lifeline to Reality TV Producers
Jul 23 2001 // Reality television markets itself as extreme, but by pushing the limits of safety, it also pushes the limits of liability. In order to prevent financial losses, reality television producers are turning to insurers to make...
AIA Board of Directors Endorses Optional Federal Chartering Plan
Jul 18 2001 // The American Insurance Association (AIA) Board of Directors formally endorsed draft legislation that would allow property/casualty insurance companies to obtain a federal business charter. Although the AIA proposal is...
NAII Gives ‘Thumbs Up’ to ‘HHS’ Privacy Guidance Document
Jul 17 2001 // The National Association of Independent Insurers (NAII) gave high marks to the Health and Human Services Administration’s (HHS) first guidance document incorporating clarifications to its regulation on protecting the...
Auto Market Shrinks in New Jersey as Major Carriers Exit
Jul 16 2001 // First, State Farm Indemnity announced plans to leave New Jersey’s auto insurance market; then it was a subsidiary of American International Group noting similar intentions. Several other companies are now...
Liquidators Score a Hat Trick: Some lessons are learned as three high-profile insurers fail in as ma
Jul 16 2001 // Insurance companies go through life cycles just like everyone else. Birth, life, and ultimately death by absorption or bankruptcy in order to make way for new and more efficient enterprises—but two failures in one month,...
Q1 Results: P/C Industry Premiums Up; Net Income, Surplus Down
Jul 16 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office Inc. (ISO) and...
California Workers’ Comp Carriers See
Jul 16 2001 // Trying to operate in a shaky market, a pair of California workers’ compensation carriers have seen their ratings drop from “A” to “A-” following review by analysts at A.M. Best. Both...
Study Says Eight Insurers Command 65% Market Share in Hurricane-Prone States
Jul 13 2001 // A recent study by Palm Beach Gardens, Fla.-based Weiss Ratings Inc. indicated that just eight large property and casualty insurers provide homeowners coverage to residents in hurricane-prone states. Weiss Ratings, a...
AIA Says Insurer Interests Not Addressed in HHS Privacy Materials
Jul 11 2001 // According to the American Insurance Association (AIA), the first in a series of guidance materials intended to clarify key provisions of the new federal privacy protections for medical records and other personal health...
NAII Says Calif. Bill Would Hinder Fraud-Fighting Tactics
Jul 10 2001 // The National Association of Independent Insurers (NAII) announced that the California Assembly Insurance Committee on July 11 will hold a hearing to debate legislation that would impede insurer efforts to investigate...
SilkAir Insurers Sue Over 1997 Crash
Jul 9 2001 // Singapore Aviation and General Insurance Company has filed two lawsuits, one in New York, and the other in Los Angeles, seeking some $55 million in damages from Boeing and several aircraft component manufacturers related...
NAII Presents Insurers’ Views at Hearing on Improving Calif. Low Cost Auto Program
Jul 9 2001 // Efforts to reduce the number of uninsured drivers in California should not center on the price of automobile insurance. Instead, California insurance officials and lawmakers should allow insurers to provide the type of...
Homeowners, Insurance Industry Clash on Mold Issues
Jul 9 2001 // Homeowners turned out in force to testify and listen, and to applaud when they agreed with what they heard, at a June 26 Texas Department of Insurance (DOI) public hearing on issues related to toxic mold and insurance...
Allison to Cost Insurers $ 1.2 Billion
Jul 9 2001 // U.S. P/C insurers will pay homeowners and businesses $1.2 billion for insured property damage wreaked by Tropical Storm Allison during the first two weeks in June, according to preliminary estimates by Insurance Services...
“E-insurance: Creating a Competitive Advantage” Excerpted from a report written in co-operation with
Jul 3 2001 // Levels of e-business development Despite the desire to deepen customer relationships, reduce costs and develop new sources of revenue, few have gone far in terms of creating distinctive web-enabled services. To date, only...
Administaff Announces New Carrier for Workers’ Comp Policy; The Hartford Selected to Underwrite Two-Year, Fully-Insured
Jun 29 2001 // Administaff, Inc., the nation’s leading Professional Employer Organization (PEO), today announced that it has selected The Hartford Financial Services Group Inc. to underwrite the guaranteed-cost workers’...
U.K. Insurers Await Levy on Independent, as RSA Picks Up More Pieces
Jun 28 2001 // Britain’s Royal & Sun Alliance is in advanced talks with PricewaterhouseCoopers, the liquidators for Independent Insurance, to acquire more parts of Michael Bright’s failed company. RSA has already agreed...
