Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Calif. Distributes $1.25 Billion to Policyholders of Failed Insurers
Oct 18 2006 // California Insurance Commissioner John Garamendi announced that the Department’s Conservation and Liquidation Office will distribute a record $1.25 billion to claimants of failed insurance companies during...
Hawaii Commissioner Warns Insurers of Discriminatory Practices
Oct 18 2006 // The Hawaii Insurance Division has issued a memo to all motor vehicle insurance insurers authorized in the state that discriminatory practices are prohibited, including those that award discounts. According to Commissioner...
Insurance Carriers Moving to Service-Oriented Architecture
Oct 17 2006 // The insurance industry is rapidly embracing Service-Oriented Architecture (SOA), as well as related Web services and standards, according to new TowerGroup research conducted in partnership with ACORD. The comprehensive...
Washington’s Mike Kreidler Vows to Protect Trust Relationship Between Insurers, Consumers
Oct 12 2006 // Watch Video Interview Washington – Mike Kreidler: Opening Up the Debate Washington Commissioner Mike Kreidler is proud of his state’s consumer record and how it has dealt with brokerage compensation and...
Fla. Gubernatorial Candidates Offer Hurricane Fund Proposals
Oct 12 2006 // If he is elected governor, Florida homeowners would see lower property insurance rates as soon as next year and a guarantee of at least partial coverage by the state, Democratic gubernatorial nominee Jim Davis said this...
Okla. Doctor Pleads Guilty to Defrauding Medicare, Private Insurers
Oct 12 2006 // An Alva, Okla., doctor faces up to 10 years in prison and a $250,000 fine after pleading guilty to defrauding Medicare out of $1 million. Gregory Glase Pinegar also will forfeit more than $400,000 as part of his plea...
Executive Says La. Safety Standards Could Help Attract Insurers
Oct 12 2006 // Homeowners insurance rates won’t drop anytime soon, but Louisiana has enacted safety standards since Hurricane Katrina that could help attract new insurance companies and moderate the costs, an insurance executive...
La. Court: ConocoPhillips Entitled to Defense Costs as Additional Insured
Oct 12 2006 // Judge Wilfred Carter of the Fourteenth Judicial District Court, Parish of Calcasieu, State of Louisiana, granted the motion for partial summary judgment of ConocoPhillips Company, successor-by-merger to Conoco Inc., that...
Mich. Appeals Court Hears Oral Arguments on Use of Credit Scores
Oct 11 2006 // A hearing on the legality of the use of credit scoring in setting insurance rates took place this week in Lansing, Mich. at the Hall of Justice. The appeals hearing follows the ruling by Judge James H. Fisher to strike...
Litigation Trends Continue to Mount Worldwide; Insurers Face Five Times the Average Number of Lawsuits
Oct 11 2006 // Insurance companies are the litigation champions confronting an average of 1,696 lawsuits, spanning from product liability and environmental class actions to directors and officers claims, and even coverage fights over...
Santa Clara Man Sentenced In Bogus Insurance Company Scheme
Oct 11 2006 // Insurance Commissioner John Garamendi announced a Santa Clara man who operated an unlicensed automobile insurance company will serve five years formal probation and pay restitution to his victims. The charges resulted from...
Ala. Coastal Property Owners Facing More Insurer Restrictions
Oct 10 2006 // More insurance cutbacks for Alabama coastal properties — not only for buildings and homes near the beaches — are coming in the wake of 2004 and 2005 hurricanes. Two of the state’s largest insurance firms said...
N.Y. Commercial Realty Firm Forms Captive Insurer
Oct 10 2006 // SL Green Realty Corp., a major owner of commercial office properties in Manhattan, has formed Belmont Insurance Co., an insurance captive licensed in New York State. It was formed to insure a portion of SL Green’s...
Mich. Med Mal Insurer FinCor Acquires Washington Casualty
Oct 10 2006 // Lansing, Mich.-based FinCor Holdings, Inc., an integrated risk management corporation serving health care providers and facilities, today announced its acquisition of Issaquah, Wash.-based medical malpractice insurer,...
Sticking up for the little guys
Oct 9 2006 // Somewhat akin to Rodney Dangerfield, smaller agents don’t seem to get any respect — or at least not as much respect as their larger counterparts. It is becoming difficult to keep the carriers they currently...
The Future for Agents’ E & O
Oct 9 2006 // David Duncan of David C. Duncan Insurance Services in Rancho Santa Margarita, Calif., is worried about whether and how much the cost of his agency errors and omissions insurance might go up next year. Duncan started his...
Terrorism insurance market hits federal radar
Oct 9 2006 // Two new federal reports have found that the long-term development of the private terrorism insurance market remains at best uncertain due to the unpredictable nature of terrorist attacks. Both reports acknowledged that a...
Getting to know your agency’s E&O
Oct 9 2006 // Insurance agents’ errors and omissions policies are not created equal. An agent who purchases E&O based solely on price may experience a rude awakening when it’s time to report a claim. Here are just a few...
State regulators, insurer trades spar at Congressional hearing on insurer investments
Oct 9 2006 // The National Association of Insurance Commissioners President and Maine Insurance Superintendent Alessandro A. Iuppa told a House Financial Services Subcommittee panel last month that strong financial regulation of...
Sticking up for the little guys
Oct 9 2006 // Somewhat akin to Rodney Dangerfield, smaller agents don’t seem to get any respect — or at least not as much respect as their larger counterparts. It is becoming difficult to keep the carriers they currently...
