Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
S&P Examines Europe’s Insurers Exposure to ‘Credit Crunch’
Nov 6 2007 // Standard & Poor’s has published an “Industry Report Card” on Europe’s insurers, which examines their situation “in the aftermath of the subprime credit crunch,” the findings of an...
Montpelier Re Completes U.S. Surplus Lines Acquisition
Nov 6 2007 // Bermuda-based Montpelier Re Holdings Ltd. announced that Montpelier US, its Hartford-based subsidiary, has completed the purchase of a US Excess & Surplus lines insurance company after receiving regulatory approval...
Catastrophe Modeling Pioneer Clark Advises on Insurers’ Best Practices
Nov 6 2007 // Karen Clark & Co. in Boston has started providing reviews of company internal catastrophe risk assessment and management processes to help companies ensure they have holistic risk management processes that comply with...
Insurors of Tennessee Names Hoover Young Agent of the Year
Nov 6 2007 // At a ceremony that took place at The Vanderbilt Legends Club in Franklin, Tennessee, Insurors of Tennessee recognized Chip Hoover as the Arch E. Northington Young Agent of the Year . Hoover is principal agent of AGA Hoover...
Transitions … from judge to regulator, from regulated to competition
Nov 4 2007 // Massachusetts Insurance Commissioner Nonnie Burnes has taken on the minefield of private passenger auto insurance, overseeing a transition from a highly-regulated rating system to one under which insurance companies are to...
News Currents
Nov 4 2007 // N.Y. department prevails in liquidation bureau audit New York state’s highest court has ruled that the state auditor does not have the authority to audit an obscure division of a state agency managing $3.3...
Small market share insurers file 2.5% decrease
Nov 4 2007 // 10 Mass. caps auto hikes at 10% Because the shooter was in an uninsured car, says N.J. court 12 Driving the transition An interview with Mass. Commissioner Burnes N1 Survey reports drop in new lawsuits Actions filed...
News Currents
Nov 4 2007 // Mass. caps car insurance hikes at 10%; smaller insurers eye 2.5% cut The first moves toward competitive rating for auto insurance in Massachusetts indicate that rates for drivers insured by insurers with small market share...
British D&O insurer asks N.Y. court to confirm that former Tyco chief owes $2 million
Nov 4 2007 // A British insurance company has asked a New York state court to confirm an arbitration award that directs imprisoned corporate thief L. Dennis Kozlowski, former head of Tyco International Ltd., to pay nearly $2 million...
TRIA extension must pass without NBCR provision
Nov 4 2007 // After the terrorist attacks of Sept. 11, 2001, the market for commercial property and liability insurance in large urban areas was in turmoil, as reinsurance for terrorism became expensive and scarce. Congress responded in...
N.Y. court set to rule in key underinsured motorist benefits case
Nov 4 2007 // Whether serious injury is required to be demonstrated for an insured to be entitled to supplementary underinsured motorist benefits (SUM) was recently argued before New York’s Court of Appeals. On October 9, 2007,...
Whistleblower lawsuit against insurers dismissed
Nov 4 2007 // A federal judge has thrown out a so-called “whistleblowers'” lawsuit that accuses insurance companies of overbilling the federal government for Hurricane Katrina’s flood damage to Louisiana homes. Allan...
Insurers Used Variety of Resources to Reach Out to Fire Victims
Nov 4 2007 // In the midst of the blazing wildfires that overwhelmed seven Southern California counties in October, insurance companies sprung into action. Most said they had learned from past catastrophes and that preparation was key...
Washington Medical Malpractice Claims Decreasing
Nov 4 2007 // A medical malpractice report on closed claims data indicates that claims are down in Washington. This is the third medical malpractice closed claim report issued by state Insurance Commissioner Mike Kreidler. It analyzes...
Five Tips in Dealing with Wildfire Losses
Nov 4 2007 // Here we go again: another disaster, another insurance test. Will Southern Californians whose homes and businesses were destroyed or damaged by wildfires fare better with their insurance providers than Katrina’s...
10 Calif. DOI partners with CAL FIRE
Nov 4 2007 // Groups aim to prevent fire losses during height of wildfire season 10 Hawaii approves 19.3% workers’ comp decrease NCCI recommended 16.8 percent drop 10 Calif. approves AAA’s 6.5% auto rate reduction Carrier...
Satisfied buyers of homeowners coverage obtain additional products
Nov 4 2007 // Homeowners insurance policyholders who subscribe to at least one additional policy with their insurer tend to be more satisfied than those who only have a homeowners insurance policy, according to the J.D. Power and...
Striking a balance on the debate over the use of credit-based insurance scores
Nov 4 2007 // What determines how much a consumer will pay for automobile insurance? The usual considerations immediately come to mind: accident history, average miles driven each year, number of speeding tickets and location of insured...
Homeowners insurers not earning cost of capital despite modest rate increases
Nov 4 2007 // The countrywide prospective return on equity for the homeowners line of insurance for 2007 is 7.0 percent, up from 5.4 percent in 2006, according to an analysis by Aon Re Global, a unit of Aon Corp. The year-over-year...
D&O underwriters assess the subprime meltdown
Nov 4 2007 // When defaults in U.S. mortgages reached record levels in the second quarter of 2007, forcing a large number of subprime mortgage lenders to shut down or file for bankruptcy, the fallout spread quickly throughout the...
