Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Agents and Coverage Opinions
Aug 6 2001 // Insurance intermediaries—agents, brokers, and the like—do all sorts of things for their customers and clients. They help them select coverages. They help select insurers. They shop for price. They prepare applications....
Media Liability Claims: Tricky, Expensive and Evolving
Aug 6 2001 // Oprah Winfrey may be the queen of talk show TV and the ruler of her own media/entertainment universe, but that didn’t keep her from being dragged into court, accused of libeling the beef industry in one of the most...
Shares of Insurers Pause After Recent Gains-What Direction Now’
Aug 6 2001 // It’s extremely difficult to predict whether a stock will go up or down-more so in the sort term. Too many factors involved, which are open to widely varied interpretations. Trends in a given sector can be spotted...
Court Affirms Noninsured Can’t Sue Insurer for Alleged Negligence to Policyholder
Aug 3 2001 // The California Court of Appeal has affirmed a ruling that a person not covered by an insurance policy cannot sue the insurer for alleged negligence for delaying payment to the person who is insured. The ruling in Adelman...
IIAA Tells Congress Auto Insurance Over-Regulated in Certain States
Aug 2 2001 // The extensive over-regulation of automobile insurance rates in some states shines a spotlight on the potential benefits of a market-driven approach to oversight, Independent Insurance Agents of America (IIAA)...
Conning & Co. Study Says Auto Insurers are Paying Closer Attention to Credit Scores
Aug 2 2001 // Auto insurers are looking at more than a consumer’s driving record when determining rates; they are also examining how drivers manage their finances, according to a recent Conning & Company study. Auto insurers...
Insurers Paying Claims for Losses of Medical Marijuana
Aug 1 2001 // According to an AP Online report, insurers are paying out claims to a growing number of medical marijuana users whose backyard pot plants were stolen by thieves or confiscated by police. The payouts are not based on the...
UNISYS to Offer Commercial Insurers Risk
Jul 31 2001 // Unisys Corporation announced that it has established an Internet-based Risk Trading Exchange for the global insurance/reinsurance marketplace. Enabling all market players to access and transact numerous types and classes...
Auto Insurer Must Return Profits
Jul 31 2001 // New Jersey auto insurer the Prudential Group was ordered last week to refund $25.1 million on 325,000 auto policies in the state because the company’s auto business received more profit than the law allows. The...
Fewer Storms in 2Q Amount to Major Losses for Insurers
Jul 30 2001 // Sometimes less does mean more. While there were fewer catastrophes for the second quarter of 2001 compared to recent years, the damage that those left in their wake was enough to send a number of insurers scrambling to...
AIA’s Endorsement of Optional Federal Charter Plan Prompts Flurry of Responses from Associations
Jul 30 2001 // In an announcement released July 17, the American Insurance Association (AIA) Board of Directors stated that it has formally endorsed draft legislation that would establish an optional federal chartering structure designed...
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...
