Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Cite Data Limits on Vehicle Defects
Jan 26 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 last...
Japan’s Softbank To Take Over Failed Life Insurer
Jan 24 2001 // Japan’s Softbank Corp. is reported to be seeking to enter the life insurance market through its Softbank Finance Co. unit, which is seeking to acquire the policies and remaining assets of failed insurer Taisho Life...
Insurers 2000 Cat Losses Total $4.3 Billion, 53 Percent Below 10-Year Average
Jan 24 2001 // U.S. property/casualty insurers paid $4.3 billion in catastrophe claims, making 2000 the second-lowest year for catastrophe losses in the last 10, according to estimates by Insurance Services Office’s Property Claim...
Worcester Woman Sentenced for Embezzlement From Insurance Company
Jan 23 2001 // Jetzenia Ortiz, 24, of Worcester, Mass., was sentenced to 15 months in prison, $400,000 in restitution for embezzling that same amount from her employer, Unum Provident. Ortiz pleaded guilty to the charges, saying that...
U.K.’s Prudential To Buy Japanese Life Insurer
Jan 23 2001 // The U.K. ‘s Prudential announced plans to purchase Japan’s Orico Life, a subsidiary of Orient Corp., for 23 billion yen (around $200 million). The move will further strengthen the company’s Asian...
Florida-Based Insurer Brown Brown Reports 29 Percent Increase in Net Income
Jan 23 2001 // Brown & Brown Inc. has reported a 29 percent gain in fourth-quarter net income. But the big gain was not reflected in the company’s stock, which closed at $32.75 a share, down $2.25. Earnings for the fourth...
Fund Eyed for Privatization; Industry Balks at Comptroller’s Recommendation to Sell TWCIF
Jan 22 2001 // As part of an effort to privatize government units, Texas State Comptroller Carole Keeton Rylander has recommended that the Texas Workers’ Compensation Insurance Fund be sold to the highest bidder. The...
Liability Insurers and Rights of Reimbursement
Jan 22 2001 // Liability insurers face three especially difficult litigation problems. One of them arises when an insurance contract provides that an insurer has a duty to defend, and it is not clear from the plaintiff’s petition...
Managing The Risk From Climate Change
Jan 22 2001 // Whether it is the dry desert heat of El Paso or the humid sauna of Houston, people who grew up in Texas know that its summers are naturally hot. For people in Dallas, last summer was no exception. After 44 days in the...
Insurer, Agents Near Deal
Jan 22 2001 // A 20-year-old class action lawsuit filed by 11 former insurance agents against Bloomington, Ill.-based Country Companies Insurance will soon be settled with no admittance of wrongdoing. The former agents filed a suit in...
California Workers’ Comp: A Market on the Brink
Jan 15 2001 // Although they just squeaked past the January 1 crunch time, both carriers and buyers of workers’ compensation are having anything but a Happy New Year. Combined with the slipping economy, the crisis in the...
Kemper Insurance Companies and InsuranceNoodle Team up to Target Small Business Owners
Jan 9 2001 // Kemper Insurance Cos. has signed an agreement with InsuranceNoodle to expand its initiative of providing products designed for small business owners. The agreement allows InsuranceNoodle to enhance its offering to small...
Weiss Reports Insurance Company Failures Up 30% In 2000, HMO Failures Down 22 %
Jan 9 2001 // In the face of a slowing economy and stiff competition, 35 insurance companies failed in 2000, a 30 percent increase over the 27 failures recorded in 1999, according to Weiss Ratings, Inc., an independent provider of...
Minnesota Agents Association Floats Legislative Collective Bargaining Draft; Seeks Input
Jan 8 2001 // In 1900, Texas independent agents approved a plan to unionize. The plan eventually faltered at the national level, but now, more than a century later, Minnesota agents are floating a similar idea. The board of directors of...
Who Owns A Customer’
Jan 8 2001 // The American economic scene is characterized by at least three general trends. There may be more. First, many large businesses are cutting back. Almost every day one reads in the paper that some huge, well-known...
A Legislative Preview for the 77th Session of the Texas Congress
Jan 8 2001 // Now that the presidential election saga has come to a close and a new governor and lieutenant governor are in place, the new guard at the Texas capitol has begun making decisions and appointments for the upcoming 77th...
Welcome to our First Ever
Jan 8 2001 // The demarcation between years always seems to take on a contemplative aspect. We look back to where we’ve been, and then look forward to weigh our expectations. Will the market continue to harden? Will the dot-coms...
Donegal Completes Acquisition of Pioneer
Jan 4 2001 // Donegal Group Inc. has completed the acquisition of Pioneer Insurance Co., which is headquartered in Greenville, New York, from Donegal Mutual Insurance Company effective January 1, 2001. The purchase price will be equal...
New York DOI Codifies Statutory Accounting Principles
Jan 2 2001 // New York Superintendent of Insurance Neil D. Levin announced the adoption of a new regulation implementing a codification of statutory accounting principles for insurers. The purpose of the codification is to enhance the...
Credit Insurer to Return $1M, Trim Rates for
Jan 2 2001 // An Atlanta-based insurance company has agreed to pay back $1 million to tens of thousands of Massachusetts consumers who were overcharged for credit insurance. According to a report issued by Georgia Attorney General Tom...
