Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Ironshore Specialty Insurance Becomes Surplus Lines Insurer in California
Oct 6 2008 // The California Department of Insurance has added Ironshore Specialty Insurance Co. (ISIC) to its List of Eligible Surplus Lines Insurers (LESLI listing). ISIC will provide specialty commercial insurance coverages on an...
In Texas, ‘Trigger’ May Be Trickier Than it Seems
Oct 6 2008 // Trigger — what determines which policy applies. Most liability policies require property damage caused by an occurrence and require that the property damage occur during the policy period. The question, in Texas and...
California Governor Signs Agent-Broker Bill
Oct 6 2008 // California Gov. Arnold Schwarzenegger has signed Assembly Bill 2956, clarifying the duties of an agent versus those of a broker. The bill, Insurance Brokers and Agents of the West explained, establishes four situations in...
Insurers Need to Beware of Business ‘Red Flags’
Oct 6 2008 // Identity Theft Rules to Take Effect on November 1 New federal “Red Flag” regulations will soon require businesses of all sizes to have identity theft and data breach protections in place. By Nov. 1, 2008, the...
Court: Insurer Can’t Bring Subrogation Claim Against Attorney
Oct 6 2008 // Insurers are not allowed to bring equitable subrogation actions premised on professional negligence against attorneys, the Colorado Court of Appeals ruled. According to State Farm Fire and Casualty Co., as subrogee of...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Oct 6 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
Cracking Under Pressure
Oct 6 2008 // The Chips Fall: Agents, Customers, Competitors Pick Up the Pieces Old, New Business Breaking Away The financial woes of American International Group (AIG), a giant insurer that does considerable business with thousands of...
State Regulators Blast Federal Regulation Advocates Over AIG
Oct 6 2008 // State insurance commissioners have lashed out at members of Congress who are blaming state regulation for the problems of American International Group (AIG) and using the AIG crisis to bolster their advocacy for federal...
It Pays To Specialize
Oct 6 2008 // How Program Managers Beat the Commodity Trend and Soft Market Despite challenging soft market conditions, today’s program administrators should be able to seize the day’s market opportunities thanks to their...
Competitors Offer to Fill the Gaps
Oct 6 2008 // There have been some subtle and not-so-subtle moves by competitors in reaction to AIG’s troubles. Navigators Pro increased its capacity for directors and officers (D&O) liability insurance, citing the...
For Agents, Their Carriers’ Claims Service is Top Performance Measure
Oct 6 2008 // Independent insurance agents want their property/casualty insurance carriers to provide quality claims service above all else, according to an exclusive survey of agents’ attitudes about the insurers their agencies...
Florida’s State-backed Insurer Backs off Plan for New Office
Oct 3 2008 // In the wake of criticism by key Florida lawmakers, the state-backed property and casualty insurer, Citizens Property Insurance Corp., is backing off plans to seek a new, larger office complex that once included a...
Texas Law Firm Pleads Guilty to Role in Staged Accident Scheme
Oct 3 2008 // Trey Allen, P.C., a professional corporation, which was previously known as the Law Office of John H. Allen, III, P.C., pled guilty in federal court before U.S. Magistrate Judge Paul D. Stickney, to charges of conspiracy...
R.I.-Based Commercial Insurer FM Global Revamps Top Management
Oct 2 2008 // FM Global, one of the world’s largest commercial property insurers, has made numerous promotions and reassignments within its senior management team that are to become effective Jan. 1, 2009. Brian J. Hurley,...
Pair to Stand Trial in Oklahoma for Inflating Insurance Company Assets
Oct 2 2008 // Two Texas men accused of inflating assets in a scheme to dupe regulators regarding the solvency of their insurance company will stand trial in Oklahoma, state Attorney General Drew Edmondson announced. A trial date has not...
Investors Jittery After Sen. Reid Insurer Comment
Oct 2 2008 // Insurance stocks, led by Hartford Financial, Principal Financial and MetLife, fell Thursday after a lawmaker raised the question of whether a well-known insurer could be in financial trouble. The comment stoked investor...
Insurers Weigh-in on North Carolina Committee’s Beach Plan Analysis
Oct 1 2008 // A North Carolina joint legislative study committee began hearings on Sept. 30 regarding the financial health of the state’s Insurance Underwriting Association, a.k.a. the Beach Plan. The Joint Select Study Committee...
Insurer Says No to Covering School District Sexual Abuse Lawsuit
Oct 1 2008 // The insurer of the Unit 5 school district in Urbana, Ill. is balking at providing coverage in connection with a sexual abuse lawsuit. Cincinnati Insurance contends in a federal lawsuit that an Urbana student identified as...
Broker Uses AIG’s Problems to Create a ‘Super’ Product
Oct 1 2008 // “We hoped we were wrong,” said Peter Taffae, managing director of Executive Perils Inc., of the financial troubles that recently befell American International Group. In early June 2008, Taffae and several of...
P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008
Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...
