Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Calif. Approves USAA’s 8 Percent Auto Rate Reduction, Insurers Not Surprised
Aug 10 2006 // California Insurance Commissioner John Garamendi announced that he intends to approve an average 8 percent decrease in premium rates for policyholders of United Services Automobile Association (USAA), a move that the...
Judge Denies California Insurers’ Lawsuit to Stop Auto Rate Regs
Aug 10 2006 // A Sacramento Superior Court judge has decided to reject the insurance industry’s request for an injunction against auto insurance rate regulation reforms in California, but the legal challenges will not end...
Ohio Military Personnel to Benefit from $70 Million National Settlement
Aug 9 2006 // The Ohio Department of Insurance recently announced that the Department has joined a $70 million multi-state and federal settlement with Texas-domiciled American-Amicable Life Insurance Company and its affiliates regarding...
Delaware Weighs Options as Westfield Insurance Drops 850 Policies
Aug 9 2006 // Delaware Insurance Commissioner Matt Denn has issued a bulletin to property insurance companies telling them to better inform property owners of the option of coverage from the residual market, the FAIR Plan. The bulletin...
Linda Watters
Aug 7 2006 // Michigan Insurance Director of Insurance Linda Watters wants to make sure drivers in urban areas get a fair shake on the premiums they pay for auto and homeowners insurance. She has developed an initiative that would...
Companies step up to take Texas Select policyholders
Aug 7 2006 // Some 150,000 Texas homeowners will be affected by the liquidation of Vesta Fire Insurance Co. and its Texas subsidiaries by the Texas Department of Insurance, but the situation seems to be not as dire as previously...
Exemption protection
Aug 7 2006 // The U.S. Senate Judiciary Committee has received testimony on whether to continue the insurance antitrust exemption contained in the 1945 McCarran-Ferguson Act. This law placed responsibility for insurance regulation with...
Florida moving ahead with commercial lines reinsurance pool
Aug 7 2006 // Florida is moving to reactivate a state-run reinsurance pool for commercial lines insurance to help businesses obtain insurance. The Commercial Joint Underwriting Association (JUA) is intended to provide property insurance...
Vesta liquidation by Texas felt from Florida to Mass.
Aug 7 2006 // Some 70,000 Florida, 150,000 Texas, 5,200 Massachusetts and 11,000 New Jersey policyholders are among those affected by the liquidation of Vesta Fire Insurance Co. and its subsidiaries. Texas regulators placed the company...
California insurers sue department to stop auto insurance regulations
Aug 7 2006 // Three insurance trade groups filed a lawsuit seeking declaratory and injunctive relief to stop enforcement of California Department of Insurance auto rating regulations they said will harm millions of policyholders. On...
Hawaii obtains reinsurance to take control of Vesta subsidiary
Aug 7 2006 // Some 150,000 Texas homeowners will be affected by the liquidation of Vesta Fire Insurance Co. and its Texas subsidiaries by the Texas Department of Insurance, but the situation seems to be not as dire as previously...
Fighting future losses in the midst of fire season
Aug 7 2006 // With 68,775 blazes already this year, the 2006 wildfire season is well on its way to becoming the worst in 10 years, according to the National Interagency Fire Center (NIFC). Its data shows 5.03 million acres have burned,...
When insuring international trade, expect the world
Aug 7 2006 // Think how few things you and your clients wear, use or drive that are wholly made in the USA, and you get a sense of the magnitude of international trade. International trade also is no longer the domain of global giants...
Wagging the dog
Aug 7 2006 // Reinsurance woes send primary carriers scrambling Until recently the reinsurance world was a galaxy far, far away. That changed after the 2000 stock market crash, the Sept. 11 attacks and, more recently, the hurricanes...
Target Markets leaders see now as good time to shop proven programs
Aug 7 2006 // TMPAA’s Thompson, Siefert discuss today’s program business opportunities and program administrators’ evolution Despite soft market conditions, program carriers are less than enthusiastic about jumping at...
Program Snapshots
Aug 7 2006 // Program business comes in all shapes and sizes–even definitions. What looks like an insurance program to one might not be a program to another. Program business can be difficult to pinpoint, according to Ray Scotto,...
New breed of pampered pet services creates market for insurers
Aug 7 2006 // With pet-friendly hotels, doggie happy hours and pet massages available today, this world might truly have gone to the dogs–and cats. According to the American Pet Products Manufacturers Association Inc., 63 percent...
Congressional hearing held on terrorism and insurance
Aug 7 2006 // Agents, risk managers and insurers press Congress for long-term TRIA solution Two U.S. House subcommittees–the Committee on Financial Services, Subcommittee on Oversights and Investigation, and the Homeland Security...
Don’t rush the courtship
Aug 7 2006 // Partnerships with community organizations may help reduce risk, boost business If understanding and pricing risk are the essence of insurance, then mitigating risk is the essence of insurers’ and their agency...
Best’s 2006 European review highlights common industry concerns
Aug 7 2006 // For the insurance industry, global controversies tend to obscure some equally important debates going on in smaller forums around the globe. The principal controversy in the U.S. revolves around state vs. federal...
