Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Start-Up Specialty Insurer in Conn. Completes $279 Million in Funding
Aug 8 2007 // SPARTA Insurance Holdings, Inc. reports that it has closed its contractual arrangements for funding in the amount of $279.1 million of private equity capital from a consortium of investors led by Corsair Capital, and...
U.S. May Join Lawsuit Claiming Insurers Defrauded Government Over Katrina Claims
Aug 8 2007 // The U.S. Department of Justice is weighing whether to intervene in a lawsuit that accuses insurance companies of overbilling the federal government for flood damage from Hurricane Katrina, a judge who unsealed the case on...
Mass. Auto Competition: Commerce Pulls U-Turn; Will Geico Field a Team?
Aug 8 2007 // Giant direct auto insurance seller Geico has been airing ads on Boston Red Sox radio broadcasts even though it does not do business in Massachusetts. The radio games are broadcast across New England and the Northeast so...
La. Independent Agents Group CEO Lauds Flood Limitation Rulings
Aug 8 2007 // The CEO of a major insurance agent trade group in Louisiana says two recent federal appeals court decisions affirming flood limitations in property policies will enhance the state’s recovery from Hurricane...
Marsh Cleared to Accept Insurer Fees
Aug 8 2007 // New York insurance officials and the attorney general’s office have agreed to let big insurance broker Marsh accept some fees from insurance companies for work on processing and servicing of accounts. The approval...
Mass. Court Rules Excess Insurer Not Bound by Primary Insurer Settlement
Aug 7 2007 // An insurer of a so-called “follow form” excess policy is not bound by the decision of a primary insurer to settle a claim, the Massachusetts Supreme Judicial Court has ruled. The state’s highest court...
S&P: Capital Management, ERM, Solvency II Concern European Insurers
Aug 7 2007 // Standard & Poor’s Ratings Services analyzes plans to pay back capital, maximizing ROEs and the lack of opportunities to deploy capital effectively in a new report – “Capital Management, Enterprise...
Katrina at Two Years: $40.6 Billion Paid on 1.7 Million Insurance Claims
Aug 7 2007 // Two years later, the “overwhelming majority of claims” in Gulf Coast states from Hurricane Katrina have been settled in what has been the single largest loss — $40.6 billion — in the history of the...
How to write energy risks in a volatile world
Aug 6 2007 // The world has experienced rapid and profound changes in recent years, and the energy industry has been no exception. Climate changes (including global warming), market fluctuations, ever-increasing business mergers and...
Putting Florida’s rate filing and reinsurance controversy in context
Aug 6 2007 // Currently underway in Florida is a controversy over the amount of private reinsurance homeowners insurers should purchase in addition to the now expanded $28 billion in reinsurance available from the Florida Hurricane...
Study: Wind coverage hard to find for Gulf Coast businesses
Aug 6 2007 // As a key House committee voted to add wind coverage to the federal flood insurance program over insurers’ objections, a new study reported that many businesses along the Gulf of Mexico coast have had a difficult time...
In Miss. primary, incumbent Dale faces Katrina, Scruggs and fellow Dems
Aug 6 2007 // Hurricane Katrina has nearly knocked the wind out of George Dale’s re-election campaign for Mississippi insurance commissioner, a job he’s held for 32 years. Dale is the longest-serving state insurance...
Insurance credit scoring: 21st Century redlining and the end of insurance
Aug 6 2007 // Disagreements about insurance credit scoring really boil down to what “fair” means. For insurers, “fair” means that an insurer can produce data showing a statistical relationship between credit...
Blanco, Donelon and business coalition deliver market reform laws
Aug 6 2007 // The 2007 legislative session in Louisiana resulted in three major pieces of legislation recently signed into law which will improve the ability of insurers to rate and underwrite homeowners insurance on a more competitive...
Insurance credit scoring: 21st century redlining and the end of insurance
Aug 6 2007 // You’ve just been laid off from your job. Or your daughter has a major medical problem that your health insurance (if you have any) doesn’t fully cover. Or you’ve just gotten a divorce. These three life...
Insurers anticipate claims from Manhattan steam pipe blast
Aug 6 2007 // Consolidated Edison in New York has agreed to let two insurance companies anticipating millions of dollars in claims monitor the cleanup of last month’s steam pipe explosion in midtown Manhattan, the utility’s...
Insurance credit scoring: 21st century redlining and the end of insurance
Aug 6 2007 // You’ve just been laid off from your job. Or your daughter has a major medical problem that your health insurance (if you have any) doesn’t fully cover. Or you’ve just gotten a divorce. These three life...
Taxicab market: limousines’ ugly stepsister?
Aug 6 2007 // Specialized taxicab market may not be glamorous, but can be as good as any other account As an agent you may receive a request to provide insurance for a limousine operation from time to time. Limousines conjure up an...
House panel votes to add wind to flood program
Aug 6 2007 // Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted late last month to add wind...
Agents Errors & Omissions
Aug 6 2007 // If ever there was a time for insurance agents to get out and go looking for a better errors and omissions policy, this is the season. Agents who do will come across several admitted carriers that are welcoming new business...
