Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Editor’s Note: Exemption protection
Jul 24 2006 // The U.S. Senate Judiciary Committee last month received testimony on whether to continue the insurance antitrust exemption contained in the 1945 McCarran-Ferguson Act. This law placed responsibility for insurance...
Exemption protection
Jul 24 2006 // The U.S. Senate Judiciary Committee last month received testimony on whether to continue the insurance antitrust exemption contained in the 1945 McCarran-Ferguson Act. The law placed responsibility for insurance regulation...
Donelon orders insurers to extend hurricane claims period in Louisiana
Jul 24 2006 // Just over a month after asking insurers in his state to voluntarily do so, Louisiana Commis-sioner of Insurance Jim Donleon issued Directive 199 mandating that all companies insuring property in Louisiana extend the period...
California agency approves change in auto insurance law
Jul 24 2006 // A state administrative office approved changes to California’s insurance law, clearing the way for regulations that will force insurers to base premiums on drivers’ records instead of their address. The action...
Spokane diocese settles claims with two insurers
Jul 24 2006 // The Roman Catholic Diocese of Spokane has reached agreements with two more insurance carriers on payments to cover sexual abuse claims as the diocese’s bankruptcy case heads into mediation. In a statement, Bishop...
Case Law Watch
Jul 24 2006 // Actions and Proceedings Continental Insurance Co. v. The Pamona Redevelopment Agency (California Court of Appeals, May 15, 2006, Unpublished) Ruling: On this appeal, the excess insurer, Continental, sought to intervene in...
Csiszar tells agents major shift essential to entice carriers to Florida
Jul 24 2006 // Insurers look at Florida’s government as a heavy-handed, intrusive, oppressive regulatory regime that does more harm than good to property insurance markets. According to Ernie Csiszar, president and CEO of the...
Utah board recommends traffic tickets not be reported to insurers
Jul 24 2006 // The Holladay Citizens Advisory Board in Utah has recommended some traffic tickets not be reported to insurance companies so the offenders’ premium rates don’t increase. The proposal is opposed by the...
U.S. property/casualty industry posts record 1Q profits
Jul 24 2006 // The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio–a key measure...
Sen. Smith unveils ‘comprehensive plan’ to fix Florida’s insurance woes
Jul 24 2006 // Unless the state adopts a comprehensive and workable plan, accumulating financial stress could destroy the viability of the Florida insurance market and leave millions of Floridians without affordable and reliable...
Strong earnings keep insurers’ stock prices stable; M&A activity remains flat
Jul 24 2006 // Stock Prices: Insurers’ stock prices remained relatively stable during the second quarter of 2006. In a time of the year when stock prices tend to fluctuate depending on the weather forecast, companies were able to...
N.Y. blasts ‘anemic’ workers’ comp anti-fraud efforts
Jul 24 2006 // New York officials have denied a requested 7.5 percent hike in workers’ compensation premiums and criticized what they termed carriers’ ‘anemic’ efforts in combating fraud in doing so. The decision...
Mass. Fair Plan plays catch-up on reinsurance, rates
Jul 24 2006 // The biggest increases are in store for coastal Cape Cod, where the Fair Plan has become the leading property insurer rather than the insurer of last resort as intended. News Currents Last summer when the Massachusetts Fair...
Riding out soft and hard market cycles with quality relationships
Jul 24 2006 // Having quality relationships with clients takes commitment and discipline, but it pays off in reliability and client retention. Analyzing the economic rhymes and reasons of soft and hard market cycles in the insurance...
N.J. auto restrictions: a troubling turn
Jul 24 2006 // You don’t need to conduct any kind of sophisticated market research in order to understand the effects of New Jersey’s 2003 auto insurance reform law. Just drive down the New Jersey Turnpike, where you...
Case Law Watch
Jul 24 2006 // ARBITRATION Allstate Insurance Company v. Great American Insurance Company (Super. Ct. N. J. June 15, 2006) Ruling: Insurance company could contest adverse arbitration finding where plaintiff insurance company improperly...
P/C market takes hold of rapidly developing identity theft solutions
Jul 24 2006 // In today’s marketplace insurers are moving towards a case-managed, victim advocacy approach with far less emphasis placed on the restoration of expense reimbursements. Identity-related fraud is a virulent crime, with...
Take the pollution out of the D&O policy
Jul 24 2006 // Is your directors and officers policy polluted? Shareholders and environmental groups are taking a closer look at the environmental disclosures made by public companies. The U.S. General Accounting Office issued a report...
N.Y. lawmakers disappoint on property insurer; avoid workers’ comp reform
Jul 24 2006 // The New York State Legislature’s most recent session will be remembered by insurance lobbyists more for what did not get accomplished than for what did. The Republican-controlled Senate and the Democrat-led Assembly...
‘Adequate rate for the risk’ a big concern for industry executives
Jul 24 2006 // The question of how to structure property insurance rates adequately in coastal zones while still making it affordable for people to live and work there is becoming an increasingly important one to insurers and consumers...
