Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Nebraska Insurers to Merge
Dec 29 2000 // In hopes that a larger policyholder base and larger economic foundation will facilitate expansion, Lincoln Mutual Holding Co. and WFR Mutual Insurance Holding Co. will merge to form one company called Lincoln Insurance...
Crop Insurer Reaches $10 Million Agreement
Dec 29 2000 // Rain and Hail Insurance Service, a West Des Moines, Iowa-based insurance company, has reached an agreement to pay $10 million to the federal government to settle claims that the company misrepresented the condition of...
New Classes of Megatort Claims Seen Confronting Industry
Dec 28 2000 // Potential claims from asbestos, pollution and tobacco will continue to challenge the insurance industry in coming years, panelists told the Casualty Actuarial Society annual meeting in Washington, D.C. After stabilizing in...
AIG Signs Cooperation Pact With Chinese Insurer
Dec 22 2000 // American International Group has formed a strategic alliance with Pingan Insurance Company of China, that provides for each company to use the other’s sales and service network. AIG will use Pingan’s facilities...
Insurer Wins Out in Y2K Lawsuit
Dec 22 2000 // American Guarantee, a Zurich affiliate, does not have to cover $138 million of the money Xerox Corp. poured into Y2K preventative upgrades, a New York State trial court ruled on Dec. 20. New York Supreme Court Justice...
Insurer Groups File Another Lawsuit Against SB 1899
Dec 21 2000 // Another lawsuit was filed yesterday in Los Angeles County Superior Court against SB 1899. Authored by Senate President Pro Tem John Burton (D-San Francisco), and signed into law by Governor Davis, SB 1899 allows certain...
Allianz May Acquire Stake in Czech Insurer
Dec 21 2000 // Germany’s Allianz is in talks with the Czech government concerning the acquisition of its 30 percent holding in the country’s biggest insurance group, Ceska Pojistovna. The move would further strengthen...
Minnesota Agents Draft Collective Bargaining Legislation
Dec 20 2000 // The board of directors of the Minnesota Independent Insurance Agents has drafted legislation for possible introduction in the state legislature this January that would permit agents to collectively bargain the terms and...
California’s Workers’ Comp System: On the Verge of Collapse
Dec 19 2000 // At the beginning of 2000, the Insurance Journal described the California workers’ compensation market as “crazy,” “turbulent” and “chaotic.” Now, at the end of the year, a more...
Singapore Insurer Sues Boeing Over SilkAir Crash
Dec 18 2000 // Singapore Aviation & General Insurance Co. filed a complaint in Federal District Court in New York to recover damages from Boeing and several other companies it claims to be responsible for the 1997 crash of a Silk...
“Lothar,” “Martin” and Climate Change Buffet French P/C Insurers
Dec 15 2000 // A report from the French Federation of Insurance Companies, and an analysis of the French non-life sector from Standard & Poor’s both show that lingering problems from last year’s devastating windstorms,...
More Floods Hit U.K., as Insurers Assess October Losses
Dec 15 2000 // Even as battered Britain was cleaning up the damages caused by severe floods in October, a new combination of heavy rain and high tides threatened Wales and the Southwest; the Severn river crested at over 14 1/2 feet,...
Chinese Insurers Look To Public Offerings, as Earnings Increase
Dec 13 2000 // While foreign companies line up to enter the Chinese insurance market, China’s domestic insurers are doing so well that they’re looking to public offerings to raise additional funds. According to a report from...
NYSE MAY DELIST 2 INSURERS
Dec 11 2000 // The New York Stock Exchange announced Dec. 5 that it plans to suspend trading in the common stock and other NYSE-listed securities of Reliance Group Holdings Inc. and will move to delist the issues from the exchange. It is...
Bermuda Tax Proposals: ‘Closing a Loophole’ or ‘ Pork Barrel Polics”
Dec 11 2000 // The taxation of foreign insurers, reinsurers, captives banks and financial service providers, involves some very complex international issues, heavily charged with “political considerations.” HR 4192, or the...
HIH Sells Renewal Rights to Argonaut, Alaska National
Dec 11 2000 // In the latest action in the volatile workers’ compensation arena, Argonaut Insurance Company announced it will acquire the renewal rights and other tangible assets associated with the workers’ comp business of...
Insurers File Challenge To OSHA Ergo Rule
Dec 11 2000 // The Nov. 14 release of Occupational Safety Health Administration’s (OSHA) new ergonomic rule, approved by President Clinton, has sparked one of the largest backlashes in the 30-year history of the organization....
HNC Software Releases Three Web-Enabled Tools for EDI in Workers’ Comp
Dec 7 2000 // HNC Insurance Solutions, a division of San Diego, Calif.-based HNC Software, and a provider of solutions for electronic data interchange (EDI) for the workers’ compensation insurance industry, released two new...
New Jersey Insurer Issues Dividends to Auto Policy Holders
Dec 7 2000 // New Jersey Manufacturers Insurance is mailing special dividend checks to auto policy holders in New Jersey, Pennsylvania and New York totaling about $54.6 million. The 324,984 policy holders affected will receive an...
A.M. Best Assesses Excess Capital in U.S. Property/Casualty Industry
Dec 6 2000 // Over the past decade, the U.S. property/casualty insurance industry’s excess capital position has grown dramatically due to slower premium growth, better risk management techniques and significant surplus gains. This...
