Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
No New Government Funds for AIG
May 8 2009 // American International Group, the giant insurer bailed out by the U.S. government, reported its smallest loss in six quarters on Thursday, hurt once more by investment losses and write downs. AIG has lost more than $100...
Santa Barbara Wildfire Increase 448%, Insurers Ready for Calls
May 8 2009 // A wildfire that began on May 5 in Santa Barbara County, Calif., continues to burn, increasing 448 percent from 500 acres burned yesterday to 2,739 acres burned and at least 20 homes destroyed as of this morning, according...
Ohio Insurer Group: Proposed Fire Service Fees Not Always Covered
May 8 2009 // The Ohio Insurance Institute (OII) says the City of Toledo, and other cities and municipalities considering an additional revenue stream by charging insurers for fire department service runs to local residences should be...
New York Reminds Insurers about $10 Fees
May 6 2009 // The New York State Insurance Department has sent a reminder to all car insurers in the state that an admittedly confusing new law requires carriers to collect a $10 annual fee for each policyholder — at least for...
Insurer Group Assists Auto Theft Prevention Efforts in SE Texas
May 6 2009 // The Insurance Council of Texas (ICT) announced it has joined with the Texas Auto Burglary and Theft Prevention Authority in a crime prevention campaign aimed at preventing auto thefts and auto burglaries in southeast...
Berkshire’s Buffett: Life Insurers Took ‘Crazy’ Financial Risks
May 5 2009 // Billionaire Warren Buffett on Sunday criticized some life insurers for taking on “crazy” financial risks by selling variable annuities, or retirement products that promised unrealistic guarantees to buyers. The...
Indiana General Assembly Eliminates Credit Mandate for Insurers
May 5 2009 // The Indiana General Assembly has passed House Enrolled Act (HEA) 1246, which removes a provision in Indiana law requiring insurance companies to re-rate an insurance policy at least once every three years based on current...
Texas Senate Passes Insurance Department ‘Sunset’ Bill
May 4 2009 // After a temporary block by Democrats in the Texas Senate, a bill allowing continuation of the Texas Department of Insurance passed the Senate and headed to the House of Representatives for deliberation. Sen. Glenn Hegar of...
2009 Super Regional P/C Insurers™
May 4 2009 // The original criteria and objective definition for Super Regional P/C Insurers™ were established in the Feb. 12, 2007 issue of Insurance Journal. Prior to the establishment of an industry-wide definition, a number of...
Agents, Rate Your Regional Carriers in a New Insurance Journal Sponsored Survey
May 4 2009 // Channel Harvest Research and Insurance Journal have announced a major new study in the independent agency system that will probe agents’ attitudes toward carrier relationships and the insurance companies they...
Insurance ‘Relatively Unaffected by Recession,’ Boasts Berkshire’s Buffett
May 4 2009 // Being a big insurer will cost Berkshire Hathaway Inc. dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said. “We are lucky,”...
Florida Lawmakers Pass Surplus Lines Insurance Regulation Exemption
May 4 2009 // Florida Gov. Charlie Crist has a bill on his desk that promises to clarify the state’s regulation of the surplus lines insurance business. The Florida Senate on May 1 joined in the House in passing the measure...
Texas Senate Approves Windstorm Bill
May 4 2009 // The Texas Senate approved a new structure for the state’s depleted windstorm insurance fund last week, providing a combination of potential rate hikes, bonding and other revenue to ensure the account gets...
Declarations
May 4 2009 // Column as You See ‘Em “The insurance companies that wrote credit default swaps were happy not to be regulated.” —Comments by Allstate Chief Executive Tom Wilson in a New York Times op-ed column that...
Commissioner Says Insurers Violated Maryland Regulations
May 4 2009 // A year-long investigation by the Maryland Insurance Administration has found that 67 of the state’s 119 car insurers underpaid claims, Commissioner Ralph S. Tyler said. State regulators have fined the companies a...
As Credit Scores Fall, Criticism of Insurers’ Credit Scoring Rises
May 4 2009 // Consumer Advocates Focus on How Insurers Treat Insureds in Difficult Economic, Credit Climate With consumers’ credit scores dropping as lenders tighten credit terms, insurance consumer advocates are stepping up their...
Court: Insurer Must Indemnify Contractor in Mass. ‘Sick Building’ Case
Apr 30 2009 // A federal court ruled that an insurer has a duty to defend and indemnify a flooring company which installed carpets and tiles in a Massachusetts office that were so fume-ridden, they made the building unusable. In a...
North Carolina Judge Clears Way for Home Insurance Rate Changes
Apr 30 2009 // A Wake County judge has cleared the way for homeowners insurance rates to drop in nearly three dozen western North Carolina counties and soar along the coast starting Friday. Superior Court Judge Ronald Stephens this week...
Regulator Sees Mergers Coming in Weakened Life Insurance Sector
Apr 29 2009 // U.S. life insurers, weakened by the global financial crisis, are in for mergers and regulators will not shy away from playing matchmaker to deal with weak companies, Eric Dinallo, New York’s insurance superintendent,...
AIG’s Title as World’s Largest Insurer Gone Forever
Apr 29 2009 // American International Group Chief Executive Edward Liddy is inching toward several more asset sales, has plans for a trio of initial public offerings, and expects the financial products unit to be a much smaller problem...
