Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
News Currents
Jan 7 2007 // Miss. AG’s Katrina case moved to state courts A federal judge agreed in late December to transfer Missis-sippi Attorney General Jim Hood’s lawsuit against insurance companies over Hurricane Katrina damages from...
La. judge: Insurers liable for water
Jan 7 2007 // Even though a homeowner’s insurance policy said floods were not covered, leaving that statement out of the application left the company liable for damages to a house destroyed by Hurricane Rita’s winds and...
Dissecting a claims made policy
Jan 7 2007 // You’ve heard the phrase: “If I could predict the future, I would be wealthy.” If our industry truly could do that, underwriting, rating and pricing would become the easiest tasks on the planet. Short of...
N.Y., Conn., Ill. AGs bring another suit, this time against Acordia
Jan 7 2007 // News Currents The attorneys general of Connecticut, Illinois and New York continued their campaign against undisclosed compensation and account steering by simultaneously bringing suit against one of the nation’s...
Absence of hurricane losses proves beneficial to insurers’ bottomline
Jan 7 2007 // News Currents Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months....
Contractors not buying into professional liability Ames & Gough survey finds as many as 50% of contractors not covered
Jan 7 2007 // Contractors, project owners, and project finance professionals are increasingly interested in the niche market of contractors’ professional liability insurance (CPLI), according to a recent survey of insurers writing...
St. Paul Travelers Agrees to Halt All Contingent Commissions
Jan 4 2007 // The St. Paul Travelers insurance company has agreed to stop paying “contingent commissions” to brokers and agents, according to Connecticut Attorney General Richard Blumenthal. In August, St. Paul Travelers,...
DaimlerChrysler Reaches Deal with Insurers Over Class Action
Jan 4 2007 // U.S. German car maker DaimlerChrysler AG has reached an agreement with insurers over their contribution to a $300 million settlement of an investor lawsuit over the 1998 merger that created the company, a spokesman...
Vietnam Partially Privatizes 71 Key Companies Including Insurer
Jan 4 2007 // Vietnam’s prime minister has approved a list of 71 major state-owned enterprises, including Vietnam Insurance Corp., that will be partially privatized between now and the year 2010, the government said this week. The...
Insurer Group to Target Windstorm Funding in Texas
Jan 4 2007 // Texas Windstorm Insurance Association (TWIA) funding issues will be the Property Casualty Insurers Association of America’s (PCI) top legislative priority in its Southwestern region, the insurer group announced. The...
Insurers Overturn Fla. Restriction on Use of Credit Scoring
Jan 4 2007 // A Florida Administrative Law Judge has declared that the Florida Office of Insurance Regulation’s rule restricting the use of credit information by insurers is invalid. In a Dec. 29 ruling, Judge Lawrence P....
NCCI to Collect Proof of Insurance Information from Comp Carriers in Okla.
Jan 4 2007 // Insurers that write workers’ compensation insurance in Oklahoma may submit to the National Council on Compensation Insurance statutorily required proof of workers’ compensation insurance coverage for their...
Consumer Group to Unleash Attack on P/C Insurers for ‘Overcharging’
Jan 4 2007 // On Monday, January 8, the Consumer Federation of America says it will release new data demonstrating that “auto and home insurers dramatically increased profits and surplus in recent years, in part by systematically...
Mass. Auto Insurers Among Largest Donors to Patrick Inaugural
Jan 2 2007 // Four of the nine top contributors to Gov.-elect Deval Patrick’s inaugural are major auto insurers, whose businesses could be greatly affected by any efforts by Patrick to reform the state’s highly regulated...
Munich Re Warns Insurers Against Nat Cat ‘Complacency’
Dec 29 2006 // While recognizing that economic losses from natural catastrophes were considerably lower in 2006 than in 2005, Munich Re warned the industry against becoming too complacent. In a bulletin on the reinsurer’s web site...
Miss. AG Hood Urges Insurers Settle Not Fight Katrina Claims
Dec 28 2006 // Fifteen months after Hurricane Katrina left gaping holes in the Gulf Coast landscape, many insurance claims remain unsettled and Mississippi Attorney General Jim Hood is not happy. He says he would be happier if some of...
N.H. Private School Sues Insurer Over Flood Policy
Dec 28 2006 // St. Paul’s School in Concord, N.H. has filed a lawsuit accusing its insurance company of refusing to cover most of the $5 million the school has spent repairing buildings and grounds damaged by flooding last...
Miss. AG’s Katrina Case Against Insurers Moved to State Courts
Dec 28 2006 // A federal judge agreed this week to transfer Mississippi Attorney General Jim Hood’s lawsuit against insurance companies over Hurricane Katrina damages from federal to state court. U.S. District Judge L.T. Senter Jr....
Absence of Hurricane Losses Proves Beneficial to Insurers’ Bottomline
Dec 27 2006 // Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months. The net gain on...
Insurers Seek Indiana High Court Review of Family’s Award
Dec 27 2006 // Insurance industry trade groups are asking the Indiana Supreme Court to review an appeals court decision that awarded damages for emotional distress to the family of an injured man, saying it could set a costly...
