Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Analyst: Calif. Fires Should Not Result in Large Insurer Losses
Oct 23 2007 // The 11 wildfires burning in Southern California should not result in large individual insurance company losses, according to a recent report by Goldman Sachs Analyst Thomas Cholnoky. Instead, he predicts nontraditional...
Insurers Say Calif. Wildfire Claims May Reach $500 Million
Oct 23 2007 // Exclusive Video California Wildfires: Insurance Industry Assesses Impact California Wildfires: Insurers On Site at Evacuation Centers The insurance industry is estimating that the damage from the wildfires in southern...
Insurers Oppose N.Y. Reinsurance Collateral Changes
Oct 22 2007 // The Property Casualty Insurers Association of America said that it is “strongly opposed to the recent proposal by the New York State Insurance Department that would reduce collateral requirements for that state (See...
Urban Lawmakers Eye Ban on ‘Proxies’ in Mass. Auto Insurance Pricing
Oct 22 2007 // Lawmakers representing urban drivers in Massachusetts are challenging the Patrick administration’s auto insurance plan, saying new regulations leave loopholes for companies to charge higher rates to minorities and...
Okla. AG Charges Insurance Company Owners with Fraud
Oct 22 2007 // Felony charges were filed against two Texans accused of insurance fraud in Oklahoma, Attorney General Drew Edmondson said. The charges, including conspiracy, racketeering and filing a false financial statement, were filed...
Chubb Approved to Form Wholly Owned Chinese Insurer
Oct 19 2007 // The New Jersey-based Chubb Group announced that Federal Insurance Company, a member of the Chubb Group of Insurance Companies, has received approval from the China Insurance Regulatory Commission (CIRC) to convert its...
La. Whistleblower Lawsuit Against Insurers Tossed Out
Oct 19 2007 // A federal judge on Wednesday threw out a so-called “whistleblowers”‘ lawsuit that accuses insurance companies of overbilling the federal government for Hurricane Katrina’s flood damage to Louisiana...
Fla. Insurer Activates Mobile Claims Center in Pensacola
Oct 19 2007 // Citizens Property Insurance Corp. opened a mobile claims center in Pensacola today to help policyholders with property damaged by tornadoes that ripped through the area, a Citizens official said. “We opened the...
Survey: Satisfied Buyers of Homeowners Coverage Subscribe to More Than One Policy
Oct 18 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...
Report: Insurance Initiatives Tackling Climate Change Reach New High
Oct 18 2007 // Hundreds of new insurance initiatives, including green building credits, drought-protection in developing countries and incentives for investing in renewable energy and carbon emissions trading are being offered to tackle...
N.Y. Moves to Level Playing Field on Collateral for All Reinsurers
Oct 18 2007 // Non-U.S. reinsurers would no longer have to post collateral to operate in New York as long as they have the highest credit ratings. Also, all reinsurers — even U.S.-based — without the highest credit ratings would have...
The Doctors Co. to Grow by Acquiring Calif. Medical Liability Insurer, SCPIE
Oct 17 2007 // Physician-owned liability insurer The Doctors Company is expanding its market by acquiring SCPIE Holdings Inc., a provider of healthcare liability insurance in California and Delaware. Following the merger, The Doctors...
D&O Insurer Asks N.Y. Court to Confirm Tyco Chief Owes $2 MIllion
Oct 17 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...
Neb. Man Sentenced for Charging Insurers for Bogus Auto Glass Repairs
Oct 17 2007 // The Nebraska Department of Insurance announced earlier this month that James Almond III, dba Viking Glass, was sentenced by District Court Judge Thomas Otepka on three felony counts of insurance fraud. Almond had been...
Taiwan Insurer Approved by Chinese Regulator for Mainland Operations
Oct 16 2007 // Two wholly owned units of Cathay Financial Holding Co. have obtained approval from Chinese regulators to enter the property insurance market on the mainland, the Taiwanese company has said. Cathay Life Insurance Co. and...
AIR Service Assesses Insurers’ Residential Replacement Values
Oct 15 2007 // AIR Worldwide Corp. (AIR) is offering a new service to assess insurance-to-value (ITV) of U.S. residential property portfolios for reinsurance contract renewals. Available for insurers, reinsurers and brokers, the service...
DiBlanda Joins New Insurer, Valiant
Oct 15 2007 // Valiant Insurance Group, Inc. announced that John N. DiBlanda has joined its U.S. property and casualty insurance operations as chief financial officer and chief operating officer. Prior to joining Valiant, DiBlanda served...
Mass. AG Calls for 18% Cut in Home Insurance Rates Charged by FAIR Plan
Oct 12 2007 // Homeowners insurance rates for many in Massachusetts insured through the state’s secondary market insurer, the FAIR Plan, would drop 18 percent if Massachusetts Attorney General Martha Coakley gets her...
Agents Fear N.Y. Coast Insurance Market Worse; Pols Weigh Options
Oct 11 2007 // New York lawmakers are considering taking action to improve coastal insurance availability while insurance agents are telling them they fear market restrictions are worsening. Insurance companies, meanwhile, claim the...
Property/Casualty Insurers to Pay $1.13 Billion in 3Q Cat Claims
Oct 11 2007 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $1.125 billion for third-quarter property losses resulting from a total of six catastrophes in 11 states, according to preliminary...
