Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Indianapolis Insurance Company Faces Scrutiny over Annuity Sales Practices
Feb 20 2001 // American United Life Insurance Co. is denying charges by the National Association of Securities Dealers it has used “misleading and unbalanced” sales literature to sell variable annuities. The...
Carriers Battle Alleged Taxicab Market Fraud
Feb 19 2001 // In what looks uncomfortably like a return to the offshore scams of the late ’80s, several reports of questionable taxicab policies using the names of two well-known carriers have recently surfaced in California. The...
Commercial Auto-The LONG Road Back to Profitability
Feb 19 2001 // The signs were there in 2000—and now it can safely be said that prices in the commercial auto industry are definitely firming. But how long it will take the industry to truly return to profitability is still hard to...
Agent-Broker Malpractice
Feb 19 2001 // In specifying, arranging for and renewing insurance policies, it is customary in the industry for agents to use a kind of shorthand. It is also customary for agents to rely upon manuals provided to them by insurers. A case...
NAFTA Panel: U.S. in Violation of Treaty
Feb 19 2001 // On Feb. 6, a North American Free Trade Agreement arbitration panel upheld an interim ruling opening the United States border to Mexican trucks. Many in the insurance industry say they will cautiously review the changes the...
CNP Buys Control of Brazilian Insurer for
Feb 16 2001 // French life insurer CNP Assurances has entered Brazil’s fast-growing insurance market with a deal to buy a controlling share of Sasse for $535 million. CNP agreed to buy a 50.75 percent stake in Caixa Seguros (Sasse)...
Ohio DOI Unveils Top 10 Fraud Violations of 2000
Feb 15 2001 // Ohio Department of Insurance Director Lee Covington released a list of the Top 10 Insurance Fraud violations for 2000. During 2000, the Department opened 144 fraud cases. At the Insurance Department, the Enforcement...
Stephen King Files Suit Against Insurer
Feb 14 2001 // Popular novelist Stephen King filed a lawsuit in a Maine Superior Court against his insurer, Commercial Union York Insurance Co. The suit alleges that the insurance company failed to provide full coverage for injuries King...
Insurance Carriers to Launch Personal Lines Site
Feb 14 2001 // American International Group, Kemper Insurance Cos. and Prudential Insurance Co. of America plan to jointly establish a web-based insurance agency that will allow consumers to research, buy and manage personal lines...
Fitch Revises Insurer Debt Ratings Methodology
Feb 13 2001 // Fitch has made several minor revisions to its methodology for insurance industry debt ratings. The new standards are discussed in the recently published criteria report titled ‘The Relationship Between Insurer...
NAII Decries Bill Restricting Insurers’ Comments on Market Conduct Exams
Feb 13 2001 // The California Department of Insurance insists the goal of a proposed emergency regulation is to make sure that insurers use plain English on all posted market conduct exams, but according to the National Association of...
Carriers Battle Alleged Taxicab Market Fraud
Feb 12 2001 // In what looks uncomfortably like a return to the offshore scams of the late ’80s, several reports of questionable taxicab policies using the names of two well-known carriers have recently surfaced in California. The...
Commercial Auto: The Long Road Back to Profitability
Feb 12 2001 // The signs were there in 2000—and now it can safely be said that prices in the commercial auto industry are definitely firming. But how long it will take the industry to truly return to profitability is still hard to...
BANKING ACT BRINGS INSURER PROTEST
Feb 12 2001 // The Independent Insurance Agents of America (IIAA) and the National Association of Insurance and Financial Advisors (NAIFA) expressed opposition to the draft National Bank Act, which was recently proposed by the American...
Fortis To Acquire Stake in Malaysian Insurer
Feb 9 2001 // Fortis, the Belgian-Dutch financial services group, announced that it will acquire a 30 percent stake in the insurance unit of Malaysia’s Maybank for $90 million. The insurance holdings, chiefly Mayban Life Assurance...
InsureHiTech Sets Its Sights High, Opens Austin Office
Feb 5 2001 // Redefining the insurance industry is no small task. Just ask Rick Maloy, president of InsureHiTech, a company that has great hopes of changing the agency management system of every insurance agent, broker and carrier in...
Anti-Fraud Efforts Become Top Priority For Departments of Insurance
Feb 5 2001 // In an effort to assist insurers and departments of insurance, the National Association of Insurance Commissioners has undertaken the daunting task of compiling a directory of how departments of insurance across the country...
Good Samaritan Liability
Feb 5 2001 // Following the Bible parable, a Good Samaritan is a person who reaches out and takes care of someone when he or she has no obligation to do so. Generally, Good Samaritans are to be praised, while those who pass on the other...
INSURERS CITE DATA LIMITS
Feb 5 2001 // Four insurance trade associations have said they cannot supply data to federal safety regulators that will indicate whether certain passenger vehicles pose a potential danger to consumers. In a joint statement filed with...
New Law Requires Insurers to Provide Consumer Bill of Rights
Jan 30 2001 // A new law went into effect Jan. 1, 2001, requiring insurers to provide insureds with an Auto Body Repair Consumer Bill of Rights. All insurers that issue automobile liability or collision policies must distribute the...
