Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
When it Comes to Insurance Cycles, Mutuals and Stocks Behave Differently
Mar 24 2008 // Difference is tied to how mutual insurers build market share, says Conning researcher When it comes to managing through a soft cycle, it turns out mutual companies behave in a way that’s different than their...
Texas Supreme Court Continues Onslaught of Coverage Decisions
Mar 24 2008 // Since last August, the Texas Supreme Court has issued a half dozen major insurance cases, many on issues pending for years. The Court recently heard argument in key cases involving the insurability of punitive damages in...
New Jersey Docs at Liability Risk from Insurer’s Insolvency
Mar 21 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,...
Aon Says Failures May Increase Premiums for Space Vehicles
Mar 21 2008 // The failures of the Sea Launch rocket carrying the NSS-8 satellite, the Proton carrying JCSat 11 and the recent failure of the Proton rocket carrying the AMC-14 satellite, could cause space insurers to increase premiums by...
Are Punitive Damages Insurable in Texas? High Court: Definitely Maybe
Mar 20 2008 // In Fairfield Insurance Co. v. Stephens Martin Paving, LP, the Texas Supreme Court addressed, for the first time, whether punitive damages were insurable in Texas. No. 04-0728, 2008 Tex. LEXIS 123 (Tex. Feb. 15, 2008). The...
Insurers Could Pay Up to $730 Million to Cover Costs of PCB Cleanup in Wis.
Mar 19 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 decided Monday. After a five-week trial, the jury took...
Insurers Settle Lawsuits over Philippines Crash for $165M
Mar 19 2008 // Insurance companies have agreed to pay $165 million (euro104.63 million) to settle lawsuits brought by relatives of those killed in a 2000 plane crash in the Philippines, lawyers for the families said. The families of...
Mass. Insurers Seek 2.3% Workers’ Comp Hike; Hearing Scheduled
Mar 19 2008 // Massachusetts officials will conduct a public hearing on April 3 to consider an industry request for an average 2.3 percent increase in workers’ compensation rates. The Workers Compensation Rating and Inspection...
Max Cap to Buy U.S. Admitted Insurer
Mar 17 2008 // Max Specialty Insurance Company, of Richmond, Virginia, the U.S. excess and surplus lines unit of the Bermuda-based Max Capital Group Ltd., announced that it has agreed to acquire a U.S.-based admitted insurance company...
U.S. Court Rules Against Bear Stearns in Insurance Case
Mar 17 2008 // Here is more bad news for troubled investment bank Bear Stearns Co Inc: A New York appeals court has ruled that its insurers are not responsible for the costs of an $80 million settlement in late 2002 over the firm’s...
Massachusetts Auto Insurance System Not Built for Long Drive, Says Fitch
Mar 14 2008 // The new managed care auto insurance system that is underway in Massachusetts should benefit most consumers as well as the state’s local insurers in the short run, according to a new report by Fitch Ratings. However,...
Financial Reports Show Texas Insurers Profitable in 2007
Mar 14 2008 // In 2007, Texas insurers recorded one of their most profitable years of the decade, prompting some consumer advocates to call for tougher state regulation on homeowner rates. Financial reports released by the Texas...
S&P: U.S. Workers’ Comp Insurers Face Weakening Rates
Mar 14 2008 // The U.S. workers’ compensation insurance business is not for the faint of heart, according to an article published by Standard & Poor’s Ratings Services. The article, titled “Weakening Rates Could...
S&P Report Examines Solvency II Impact on Europe’s Insurers
Mar 13 2008 // Standard & Poor’s Ratings Services new report -“One In Four Of Europe’s Insurers Could Face Major Strategic Decisions Under Solvency II” – concludes that the regulations, which are...
Judge Tosses Insurance Company’s Lawsuit Against Robert De Niro
Mar 13 2008 // A California judge has dismissed a lawsuit filed against Robert De Niro by an insurance company that claimed he misrepresented his health for a movie role. Fireman’s Fund Insurance Co. insured the film “Hide...
Congress Examines Municipal Bond Ratings, Bond Insurance Industry
Mar 13 2008 // The fast-spreading U.S. mortgage crisis prompted lawmakers Wednesday to explore problems with municipal bonds, painting a bleak outlook for bond insurers that one official said imposes a “secret Wall Street...
Association of British Insurers Responds to Budget Proposals
Mar 13 2008 // Stephen Haddrill, Director General of the Association of British Insurers (ABI) issued a comment on the UK’s recently announced budget. Chancellor of the Exchequer Alistair Darling has proposed raising taxes on a...
Alaska Workers’ Comp Insurer Pays $2.8 Million to Policyholders
Mar 13 2008 // The Board of Governors of the Alaska Timber Insurance Exchange (ATIE), a policyholder owned workers’ compensation insurance company, is paying a $2.8 million dividend to its members based on their performance in...
New Sudan Insurance Company Sees Opportunity in Newfound Peace
Mar 12 2008 // The forlorn wrecks of cars and motorbikes dotting southern Sudan’s potholed dirt tracks and rare tarmacadam roads might signal chaos to some. But Zeru Woldemichael sees a business opportunity — in...
Cayman Islands Investment Group Aims to Acquire Washington Insurer
Mar 11 2008 // Washington’s Office of the Insurance Commissioner has scheduled a March 19, 2008, hearing to consider an investment group’s request to acquire a controlling interest in a Bellevue, Wash.-based property-casualty...
