Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Survey: Small Business Customers Depend on Agents’ Expertise
May 19 2008 // Agent expertise in workers’ compensation insurance is a critical factor in small businesses’ choice of carriers, according to a recent national survey conducted by EMPLOYERS, which specializes in insurance for...
South Central Workers’ Comp Markets Show Signs of Improvement
May 19 2008 // Arkansas Workers’ comp premium rates in Arkansas will continue on the declining path they have followed since the state passed workers’ compensation legislative reform in 1993, when a 12.8 percent rate decrease...
Best Affirms Selective’s ‘A+’ Ratings
May 19 2008 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Selective Insurance Group and its seven P/C pooling members. Best also...
Michigan Nixes Rate Hike Request from Insurer of Last Resort
May 19 2008 // Michigan’s Office of Financial and Insurance Regulation (OFIR) Commissioner Ken Ross recently issued an order disapproving a rate filing for Michigan Basic Property and Insurance Association (Michigan Basic), the...
Arizona Passes Captive Insurance Legislation
May 19 2008 // The Arizona Legislature has passed a bill designed to allow captive insurers to cover employment practices liability risk and remove the requirement that at least one incorporator be a resident of the state. Captive...
California Discussing Sale of State Workers’ Compensation Insurer
May 19 2008 // Rumors that California is considering selling the State Compensation Insurance Fund to help close the state budget gap are true, but government officials said the idea has amounted to no more than discussion at this...
Colorado Bill Gives Regulator Authority to Demand Insurance Compensation
May 19 2008 // Colorado Gov. Bill Ritter has signed a bill that will allow the state Department of Regulatory Agencies (DORA), and its Division of Insurance the legal authority to demand that insurance companies or agents compensate...
Survey: Small Business Customers Depend on Agents’ Expertise
May 19 2008 // Agent expertise in workers’ compensation insurance is a critical factor in small businesses’ choice of carriers, according to a recent national survey conducted by Employers, which specializes in insurance for...
Colorado Bill Would Boost Penalties for Poor Insurance Carrier Conduct
May 19 2008 // The Colorado House is considering a bill that is designed to protect consumers by strengthening penalties when insurance carriers act unreasonably. However, the Property Casualty Insurers Association of America (PCI) is...
Survey: Small Businesses Don’t Understand Dollars Spent on Workers’ Comp
May 19 2008 // Too many small business decision-makers appear to be spending money on workers’ compensation insurance coverage without understanding how workers’ compensation insurance works, what they get for their premium...
Insurers Expected to Halt New Business in Nevada as Temblors Continue
May 19 2008 // Dozens of minor earthquakes shook Reno, Nev., on April 27 as a sequence of temblors entered its third month and prompted some frazzled residents to leave their homes. Officials recorded more than 150 aftershocks on the...
Nine Catastrophes to Cost P/C Insurers $3 Billion in First Quarter
May 19 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.35 billion for first-quarter property losses resulting from nine catastrophes. The nine events identified as catastrophes by the...
Fitch: China Quake ‘Not an Immediate Capital Issue’ for HK Insurers’
May 16 2008 // Fitch Ratings has issued a bulletin from its Hong Kong/Singapore offices indicating that “based on preliminary estimates, the earthquake in China is not expected to have a material impact on the balance sheets of the...
Pinnacle Settles with 2 Insurers over Katrina Damage in Mississippi
May 16 2008 // Casino owner Pinnacle Entertainment Inc. settled a lawsuit with two insurance companies over Hurricane Katrina damage to the company’s property in Mississippi. Allianz Global Risks U.S. Insurance Co. agreed to pay...
House Panel Hits Defense Department, Insurers Over War Zone Insurance Costs
May 16 2008 // A House committee looking into defense contractors has alleged that the Department of Defense (DoD) has been lax in its management such that insurance companies providing workers’ compensation for civilian employees...
Iowa Mutual Posts Financial Results; Elects New Board Members
May 15 2008 // Iowa Mutual Insurance Company and its subsidiary, Iowa American Insurance Company, announced 2007 performance figures during its annual policyholder meeting. The growth in the commercial area helped offset the difficulty...
Colorado Bill Gives Regulator Authority to Demand Insurance Compensation
May 9 2008 // Colorado Governor Bill Ritter has signed a bill that will allow the state Department of Regulatory Agencies (DORA), and its Division of Insurance the legal authority to demand that insurance companies or agents compensate...
New York Agents Want to Rein in State Workers’ Comp Insurer
May 9 2008 // A trade group for New York insurance agents wants to rewrite the laws governing the New York State Insurance Fund – a nonprofit state agency which is New York’s largest workers’ compensation insurer...
S&P Report: Solvency II More Significant for European Insurers than Credit Crunch
May 8 2008 // Standard & Poor’s Ratings Services has published a report – “Subprime Asset Losses And Related Capital Market Disruption Still Have Little Effect On European Insurance Industry” – which...
Mass. Cuts High Risk Exemption for New Auto Insurers to 2 Years
May 8 2008 // New carriers in the Massachusetts auto insurance market will be exempt from high risk assignments for their first two years under an amended rule approved by Massachusetts Insurance Commissioner Nonnie Burnes. The original...
