Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Agents Balk as Mass. Permits 6-Month Auto Insurance Policies
Apr 10 2008 // Massachusetts will permit auto insurers to sell six-month policies in another change under the state’s newly operational managed competition system that gives insurers more freedom and drivers more...
S&P Lowers Ratings on 4 Mortgage Insurers; Conference Call Today
Apr 9 2008 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit rating on four U.S. Mortgage insurers as follows: MGIC Investment Corp. to ‘BBB’ from ‘A-‘ and its...
Credit Agency Downgrades U.S. Mortgage Insurers
Apr 9 2008 // Standard & Poor’s Ratings Services Tuesday downgraded four U.S. mortgage insurers, including MGIC Investment Corp’s arm, citing a worse-than-expected housing slump. The credit agency said most companies...
Auto Insurer Progressive Reports Q1 Profit Down 34%
Apr 9 2008 // Progressive Corp., one of the largest U.S. auto insurers, Wednesday said first-quarter profit fell 34 percent, as premiums declined. Net income for the Mayfield Village, Ohio-based company dropped to $239.4 million, or 35...
S&P Warns Soft Market Could Mean Downgrades for Commercial Insurers
Apr 9 2008 // The U.S. commercial lines property/casualty insurance “soft” pricing cycle will likely mean outlooks on some commercial lines insurers will be revised to negative in the second half of 2008, according to...
Colorado Legislation Threatens Auto Insurance Savings, Insurers Say
Apr 8 2008 // The Colorado Legislature is considering a bill that would add bureaucratic red tape and costs to the state’s automobile insurance system, claims the Property Casualty Insurers Association of America (PCI), which is...
Mass. Law Blocks State Pension Fund from Starting Bond Insurer
Apr 8 2008 // The Massachusetts state pension fund cannot and should not start a bond insurer, executive director Michael Travaglini said Monday. Travaglini, who oversees the $52 billion Pension Reserves Investment Management Board,...
Insurers Keen on NCAA’s Basket-Full of Opportunities
Apr 8 2008 // The University of Kansas men’s basketball team may have been the big winner at last night’s NCAA championship — but when it comes to the NCAA’s bonanza of sponsorship benefits from basketball and...
$40M Assessments Irk New York Insurers
Apr 7 2008 // The New York Insurance Association is criticizing the state legislature’s passage of the portion of the 2008 budget which hikes assessments on insurers by $40 million – a 20 percent increase over last year, the...
Malpractice Insurer’s Insolvency Puts Dozens of N.J. Doctors at Risk
Apr 7 2008 // Dozens of New Jersey doctors could soon be personally liable for settlement payouts now that state officials have declared insolvent what once was the state’s largest malpractice insurance company. The insurer,...
Insurer Exemption From N.H. Consumer Protection Law Questioned
Apr 7 2008 // The mortgage crisis is prompting some people to take another look at New Hampshire’s consumer protection law. Six years ago, the Legislature changed the law to exempt the banking, insurance, public utilities and...
Insurers Keen on NCAA’s Basket-full of Opportunities
Apr 7 2008 // The Hartford and XL Insurance pursue insurance industry’s love affair with sports-related, 360-degree marketing Quite a few insurers’ names have been bounced and bandied about like basketballs on TV lately, and...
Push for Federal Regulation is Call Ror No Regulation
Apr 7 2008 // Editor’s Note: The following letter was sent to the president of American Insurance Association Gov. Marc Racicot. I read with interest your letter and news release calling for state insurance regulators to...
Insurers Could Pay Up to $730 Million for Cleanup
Apr 7 2008 // Nine insurance companies should cover the costs assessed to the former Appleton Papers Inc. for cleanup of the industrial chemical PCBs in the Lower Fox River, a jury recently decided. After a five-week trial, the jury...
Texas High Court: Insurers Can Use Defense Staff Attorneys in Some Cases
Apr 7 2008 // In a long awaited ruling, the Texas Supreme Court on March 28 handed down a 7-2 decision in Unauthorized Practice of Law Committee v. American Home Assurance Company Inc. and The Travelers Indemnity Company, approving the...
Climate Change Heats Up Insurance Industry
Apr 7 2008 // Greenhouse gases (GHGs) have gotten a bad rap, according to Mark C. Bove, senior research meteorologist, catastrophic risk management for Munich Reinsurance America. Speaking on a panel about climate change at the...
Insurers Urge California Policyholders to Oppose Vehicle Repair Bill
Apr 7 2008 // Three insurance associations are urging Californians to contact their legislators to oppose a bill that they say would influence where consumers get their vehicles repaired following an accident. The bill, SB 1167 by Sen....
California Assembly Considering Insurance Agent-Broker Bill
Apr 7 2008 // A bill that would help to clarify when an insurance professional is acting in the capacity of a broker versus an agent in California is scheduled come before the state Assembly Insurance Committee no later than April 16....
Take a P/C Soft Market, Throw in a Recession, and Stir
Apr 7 2008 // The P/C industry’s chief economist on how agents are affected when a recession coincides with a soft market The following interview with Robert Hartwig, president of the Insurance Information Institute, took place...
How Courts and Claims are Altering the D&O Landscape
Apr 7 2008 // Claims frequency, claims severity, subprime, securities fraud and Stoneridge key issues on the horizon From the vantage point of early 2008, insurers writing directors and officers coverage can look back on the prior year...
