Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Mississippi Katrina Report: No Insurer Fraud Pattern
Nov 3 2008 // State Farm Fire & Casualty Cos. made questionable decisions in handling Hurricane Katrina claims, but a nearly two-year study found no pattern of fraud in Mississippi, according to a state agency report released Oct....
Mass. Surviving Bumps in the Auto Insurance Road
Nov 2 2008 // Burnes Rules Out Permitting Insurers to Use Credit Scores; Goes Slow on Property Market Issues Massachusetts Insurance Commissioner Nonnie Burnes has presided over the biggest shakeup in the Massachusetts’ personal...
Higher Gas Prices Drive Down Auto Rates, Drive Up Politics Over Regulation in New York
Nov 2 2008 // In New York, there exists a curious relationship between gas prices and insurance premiums, at least in government officials’ minds. Gov. David Paterson said his state’s efforts to rein in insurance rates by...
A.M. Best, Insurers Worry Financial Crisis Could Affect Florida’s Cat Fund
Nov 2 2008 // The Florida Hurricane Catastrophe Fund Advisory Council recently rattled the nerves of insurers when it presented its 2008 October bonding estimates. David Sampson, president of the Property Casualty Insurers Association...
Insurers’ Study Warns on North Carolina Beach Plan Deficit
Nov 2 2008 // The insurance industry has unveiled results of a report finding that the North Carolina Insurance Underwriting Association, a.k.a. the Beach Plan, is not financially prepared to weather a major storm. According to the...
Alabama Revenue Chief Calls for Captive Insurers for Coastal Property Risks
Nov 2 2008 // Alabama’s coastal property insurance crisis could be resolved by the state and cities working together to form special types of insurance companies to offer coverage, the state revenue commissioner said. Tim Russell,...
Texas Officials Blast Feds; Regulators Warn Insurers
Nov 2 2008 // Texas lawmakers have praised the state’s response to Hurricane Ike but are not quite so complimentary of the performance of the Federal Emergency Management Agency in the aftermath of the storm that made landfall in...
Three’s a Crowd
Nov 2 2008 // Recent Insurance Decisions of the Texas Supreme Court On Aug. 29, 2008, the Texas Supreme Court continued its recent foray into insurance law by issuing three important insurance coverage decisions. Each of these decisions...
New York Closes Receivership of Insolvent Texas Insurer
Nov 2 2008 // The New York Liquidation Bureau said it has completed all necessary steps to bring to a close the ancillary receivership in New York of American Eagle Insurance Company, a Texas-based property/casualty firm declared...
Binders: A Short Primer
Nov 2 2008 // Understanding the Limits of Oral and Written Binders Insurance Code Section 382.5(a) defines a binder as a “writing” that “temporarily obligates the insurer to provide … insurance coverage pending...
Risk Managers Report Price Softening; Insurers Battle Surplus Decline
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes Risk managers report that commercial policy renewal prices are continuing to drop even as insurers are battling a...
More Lawsuits, Firmer Prices on the Horizon for Executive Liability
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes More lawsuits and firmer rates for directors and officers liability coverage are almost certainly ahead as a...
Commercial P/C Insurers’ Stocks Down 14%; M&A Activity at Historic Highs
Nov 2 2008 // Stock Prices: The turbulent stock market is not sparing commercial property/casualty insurers. Through the first nine months of the year stocks are down 14 percent in the sector. M&A Activity: Despite the current...
The Battle to Preserve Agency/Broker Value
Nov 2 2008 // As economic stagnation and current rate pressure weakens performance and as supply starts to outstrip demand for acquisitions, agencies and brokers must be prepared for deteriorating valuations. As the next few years will...
A Winning E&O Defensive Strategy
Nov 2 2008 // How Agents Block Claims In sports, the best offense is a great defense, right? When it comes to preventing errors and omissions claims defensive measures are also the best offense in protecting an insurance agency....
Property/Casualty Insurers on Government Rescue Funds: No Thanks
Nov 2 2008 // Following reports that the U.S Treasury is considering adding life, bond and mortgage insurance companies to its list of beneficiaries for some of the $700 billion federal bailout package, property/ casualty insurers are...
Why Agents Choose Other Markets Rather Than Their Preferred Markets
Nov 2 2008 // While independent agents have their favorite carriers for certain risks, on occasion they end up choosing a carrier other than their preferred carrier. Most often the reason they do is pricing. Independent agents named...
Ace CEO Says Insurers Wrong to Seek Taypayer Funds
Oct 30 2008 // Evan Greenberg, Ace Limited’s CEO, chided insurers asking to take part in a plan that could see government take stakes in ailing financial institutions, saying the motivation is not real need but access to...
2008 a Rough Year for Texas Insurers
Oct 28 2008 // Insured losses in Texas lead all other states by a wide margin as claims from the state’s hurricanes continue to pour in, the Insurance Council of Texas (ICT) reported. Insured losses from the first three quarters of...
Travelers, Chubb Protest U.S. Aid for Insurers; Life Insurers Welcome Help
Oct 28 2008 // Property/casualty insurers Travelers Cos. Inc. and Chubb Corp. said they do not need federal financial assistance and chided other insurers pushing to be included in the $700 billion bailout. “Most companies in the...
