Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurance company protecting pricey Idaho homes from wildfire
Sep 3 2007 // Idaho’s Sun Valley Insurance is doing everything it can to keep claims at bay during wildfire season — including sending in a fire truck to cover million-dollar homes threatened by a wildfire outside the...
Texas’ July Enforcement Actions Result in $1.2M in Fines, Restitution
Aug 30 2007 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during July. The actions include seven license revocations, a license denial and fines and restitution...
Trial Bar Report: Insurers Still Denying Claims 2 Years After Katrina
Aug 30 2007 // Two years after Hurricane Katrina decimated the homes of thousands of Gulf Coast residents insurance companies are still systematically denying policyholders fair and just claims payments following this and other natural...
S&P: Insurers’ Investments ‘On Solid Ground’ Despite Subprime Credit Crisis
Aug 30 2007 // Standard & Poor’s Ratings Services has recently completed a survey covering all the insurance and reinsurance companies it rates globally to determine their exposure to U.S. subprime mortgage-related...
U.S. Insurers’ Subprime Exposure ‘Minimal,’ Says Fitch Ratings
Aug 30 2007 // According to a new report from Fitch Ratings, the U.S. property casualty insurance industry’s risk from various subprime mortgage exposures is “minimal.” Fitch said it based its conclusion on an analysis...
4 Insurers Said to Be Eyeing Mass. Auto Market After Deregulation
Aug 30 2007 // Massachusetts Insurance Commissioner Nonnie Burnes says four insurers not now writing auto insurance in the state have said they will enter if her plan to allow competitive pricing goes forward. Burnes is not naming the...
Proposed Mass. Auto Rules Would Ban Use of Socioeconomic Factors
Aug 29 2007 // Auto insurers in Massachusetts would not be allowed to use socioeconomic factors in competitively pricing or underwriting policies under a regulation proposed by Insurance Commissioner Nonnie Burnes. The draft regulation...
Insurer’s Civil Suit Warning Halts Probe of N.C. Lacrosse Rape Case
Aug 29 2007 // A special committee probing the Durham, N.C. Police Department’s handing of the Duke lacrosse rape case has stopped its work because the city’s liability insurance provider warned that findings could provide...
N.Y. Halts Insurers from Tying Coastal Home Renewals to Other Business
Aug 29 2007 // Insurance companies in New York may not refuse to renew homeowners insurance policies based on whether a policyholder has other business such as an auto or life policy with them, under a new order from the state insurance...
P/C Insurers Must Diversify Products, Distribution, Says IBM Study
Aug 28 2007 // U.S. consumers want insurance companies to more effectively communicate new products and services available to them, provide tailored policies and services to better meet their needs, and bring their customer experience up...
Moody’s: US Sub-prime Crisis has ‘Limited Direct Impact’ on European Insurers
Aug 27 2007 // The London office of Moody’s Investors Service has issued a new “Special Comment” analyzing the current crisis in the US sub-prime mortgage market and “the related uncertainty surrounding structured...
Pa. Medical Malpractice Insurer Files for 11% Rate Cut
Aug 27 2007 // Medical malpractice insurer PMSLIC Insurance Co. has filed for an overall 11 percent rate reduction in Pennsylvania. If approved by the Pennsylvania Department of Insurance, the revised rates will go into effect Jan. 1,...
Deadline Looms for Filing Suits Against Insurers Over Katrina
Aug 27 2007 // Courts in Louisiana already inundated by a wave of litigation against insurance companies over damage from Hurricane Katrina are bracing for a last-minute barrage of lawsuit filings as a deadline nears. Thousands of...
Okla. Physicians Liability Insurer Overcomes $143M Deficit
Aug 27 2007 // Oklahoma-based Physicians Liability Insurance Company (PLICO) announced that in just over two years it has overcome a $143 million surplus deficit. Carl Hook, M.D., president and CEO of PLICO, said the company met the goal...
Oregon Legislature Passes Several P/C Insurance-Related Bills
Aug 24 2007 // The 2007 Oregon Legislature has passed a number of bills relating to insurance. The bills affecting property/casualty insurance include: *SB 183 (ch 574) Premium relief to rural doctors for professional medical liability...
Insurance Company Protecting Pricey Idaho Homes from Wildfire
Aug 24 2007 // Idaho’s Sun Valley Insurance is doing everything it can to keep claims at bay during wildfire season — including sending in a firetruck to cover million-dollar homes threatened by a wildfire outside the central...
Fitch Sees Little Subprime Exposures in Latin American Banks, Insurers
Aug 23 2007 // A poll, conducted by Fitch Ratings, indicates that the banks and insurance companies it rates in the Latin America Region as to the extent they may hold direct or indirect exposure to U.S. subprime backed structured...
S&P Forecasts a ‘Challenging Environment’ for Global P/C Insurers
Aug 22 2007 // Standard & Poor’s Ratings Services has issued a report entitled “Global Multiline Insurers Brace For A Testing Second-Half 2007 As Property/Casualty Market Languishes,” on its RatingsDirect service....
Insurers Say Alaska Court Decision Could Lead to Uneven Rates
Aug 22 2007 // A ruling by the Alaska State Supreme Court requiring insurers to re-rate all policies at the very first renewal as if credit information was never considered will have the unintended result of forcing good insurance risks...
Best Offers Analysis on Securitization of Reinsurance Recoverables
Aug 21 2007 // A.M. Best Co. has released its methodology, “Securitization of Reinsurance Recoverables,” which describes the criteria it uses for rating securities collateralized by reinsurance recoverables. Best noted that...
