Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
People
Jan 13 2008 // Dallas-based regional insurer, The Republic Group, appointed Jim Drawert to the new position of vice president – Industry Relations. Additionally, Cathy Link has joined Republic as chief underwriting officer. Drawert...
Texas Establishes Performance Incentives for Workers’ Comp Carriers, Providers
Jan 13 2008 // The Texas Department of Insurance Division of Workers’ Compensation now has in place a rule establishing incentives for performance-based oversight for workers’ comp carriers and health care providers. The...
Maintaining Profitability in a Changing Market
Jan 13 2008 // What will it take to get ahead in 2008? Managing insurance cycles to maintain profitability is a tricky proposition. Higher premiums produced by hard markets provide more income, but it may be difficult to find coverage...
Montana Directs Auto Insurers to Avoid Steering
Jan 13 2008 // Montana State Auditor John Morrison is reminding property and casualty insurers doing business in the state that a new law recently went into effect to protect Montanans’ right to choose an auto body repair shop...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped in 3rd Quarter
Jan 13 2008 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
Contractors’ Insurance: The Hard Sell for the Soft Market
Jan 13 2008 // Selling Long-term Relationships over Short-term Savings For contractor Paige Smith of Neuse Tile Service Inc. in Youngsville, N.C., the increase in cold calls she is receiving from insurance agents is a sure sign of the...
Assessing Catastrophe Risk While Underwriting Doesn’t Require Big Changes
Jan 13 2008 // A little data can go a long way to improve risk selection in catastrophe prone areas For companies writing homeowners insurance in catastrophe prone states, the future of catastrophe risk assessment is now. Today, insurers...
Future of Bond Insurance at Risk
Jan 13 2008 // The biggest casualty of the crisis surrounding bond insurers may well be the insurers themselves. Issuers and bond buyers alike may find it easier now to dispense with insurance, experts say, given that the finances of...
Mass. Insurance Chief, AG Differ Over How to Regulate Auto Rates
Jan 11 2008 // Massachusetts Insurance Commissioner Nonnie Burnes and Attorney General Martha Coakley are at odds over how best to regulate the state’s new competitive auto rates. Coakley thinks some insurers are being stingy with...
Insurers Defend Profits; Deny They Overcharge, Under-deliver on Home, Auto Policies
Jan 11 2008 // A national consumer organization has charged that property/casualty insurers are unfairly overcharging for home and auto insurance at the same time they are reducing payments to insureds. According to the Consumer...
Lloyd’s Becomes Chile’s First ‘Approved Foreign Insurer’
Jan 7 2008 // Lloyd’s announced that it has become the first foreign entity to take advantage of a recent regulatory change in Chile’s insurance practice. Following the signing of a Free Trade Agreement in 2007...
Group Settles 22 Mississippi Katrina Cases with Insurer
Jan 7 2008 // State Farm Fire and Casualty Co. reached a settlement on 22 lawsuits stemming from Hurricane Katrina damage. “Obviously, we are pleased to settle without costly and lengthy litigation,” said State Farm...
Insurer Wants Scruggs-Affiliated Attorneys off Mississippi Katrina Case
Jan 7 2008 // State Farm Fire & Casualty Co. is seeking to disqualify several former members of the Scruggs Katrina Group – a Mississippi legal team led by embattled attorney Richard “Dickie” Scruggs – from...
Lloyd’s Defends Insurers Against ‘Spoilsport’ Image
Jan 4 2008 // An increasingly common complaint against the insurance industry charges that it is largely responsible for the disappearance of traditional events and activities due to the unavailability and/or the increasing cost of...
Guaranty Fund System Continues to Deliver
Jan 4 2008 // At the heart of every property and casualty insurance contract lies a promise to soften the blow of misfortune. But what happens when an insurance company becomes financially troubled, fails and is no longer able to uphold...
Insurers Win Court Fight over Delaware Home Insurance Renewals
Jan 4 2008 // In a victory for the insurance industry, a Delaware Superior Court has ruled that the state’s insurance regulator overstepped his authority when he prohibited property insurers from refusing to renew a homeowner...
Montana Directs Auto Insurers to Follow Anti-Steering Law
Jan 4 2008 // Montana State Auditor John Morrison is reminding all licensed property and casualty insurers doing business in the state that a new law recently went into effect to protect Montanans’ right to choose an auto body...
CarInsurance.com Adds Insurance Carriers for 2008
Jan 3 2008 // CarInsurance.com, which sells auto insurance over the Internet, has added more carriers to its current 28 state agency product offering. In November and December 2007, the firm expanded and now offers Encompass Insurance...
Mauna Kea Beach Hotel Owners Sue Insurer for Earthquake Claim
Jan 3 2008 // The Mauna Kea Beach Hotel on the Big Island of Hawaii has sued one of its insurance carriers for denying a $20 million claim stemming from last year’s earthquakes. The hotel has been closed for repairs and...
Proposed Federal Regulation of Insurance Hotly Debated
Dec 31 2007 // Participants on a panel session debating the pros and cons of proposed federal regulation of the insurance industry at the Casualty Actuarial Society’s (CAS) annual meeting agreed there is a need for regulatory...
