Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
New Markets Report
Dec 25 2006 // New insurance products seemed to be in great supply in 2006 as the market for most lines continued to turn toward softer times. No market was as robust as professional and management liability lines, according to a review...
Commissioners, compensation rules, earthquakes made for shaky ground
Dec 25 2006 // In the era when cowboys and gold panners roamed, the West was characterized as a wild yet adventurous place to live. Judging by 2006’s insurance industry headlines, those sentiments don’t seem to have...
2006: Agents fight to keep their pay and insurers wise up to the future
Dec 25 2006 // The fight to save contingent commissions topped the minds of agents across the nation as a few select states drove public policy efforts to end their use by insurers. The industry grabbed hold of predictive modeling and...
In buying back, what did I buy?
Dec 25 2006 // A look at policy buyback settlements Over the last decade, I have participated in the drafting of dozens of settlement agreements between carriers and insureds commonly called “buybacks of insurance” or simply...
Despite ‘uneventful’ year, there was no escaping catastrophes in 2006
Dec 25 2006 // It was difficult to get away from natural catastrophes in 2006, even though the year was relatively unscathed by those types of events. Back-to-back 2005 Hurricanes Katrina and Rita continued to wreak havoc on insurance...
2006: Soft market offers up many new insurance products
Dec 25 2006 // E&O, Professional/Management Liability New P/C Insurance Agents’ E&O Rockwood Programs partnered with certain underwriters at Lloyd’s of London to offer professional liability coverage specifically...
