Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
New Property and Casualty Insurer Opens in Irving, Texas!
Jun 16 2006 // Irving, Texas – A new Property and Casualty insurer, Homeowners of America Insurance Company, has opened in Irving, Texas. Homeowners is a Texas company specializing in protecting residential property for Texans. In...
IAG Acquires New Lloyd’s MA – Specialist Asian Insurer
Jun 15 2006 // Insurance Australia Group Limited (IAG) announced that it has acquired a newly-formed Lloyd’s managing agency and specialist Asian syndicate, Alba Group Pte Limited, to “support the development and management...
S&P Lowers Norsk Hydro Captive Insurer INF’s Ratings to ‘A-‘
Jun 15 2006 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Oslo-based Industriforsikring a.s. (INF) to ‘A-‘ from ‘A’, and...
Three Insurers Sue To Recover Claims Paid in ’02 Wildfire
Jun 15 2006 // Three insurance companies filed a federal lawsuit Wednesday to recover $7.04 million in claims paid for homes damaged or destroyed in the 2002 Hayman Fire in Colorado. State Farm Fire & Casualty Co. Inc., three...
OxyContin Maker Settles with Insurer
Jun 15 2006 // Purdue Pharma has settled a civil lawsuit with its insurer over costs stemming from hundreds of lawsuits involving the painkiller OxyContin, company officials said. Steadfast Insurance Co., a unit of Zurich Insurance Co....
N.Y. Agents Report on Home Insurers’ Restrictions Downstate
Jun 14 2006 // The Professional Insurance Agents of New York State Inc. says a recent survey of its member agents finds homeowners insurance companies have taken steps to reduce their exposure in downstate areas of New York since Jan. 1,...
WIAA & Alliance Submit Comments Opposing Mileage Verification Regulation
Jun 14 2006 // WIAA & Alliance Support Less Regulation, Not More, and More Competition, Not Less Rancho Cordova… On behalf of its members and members of the Alliance of Insurance Agents and Brokers, the Western Insurance...
Insurers Defend Job, Education as Auto Insurance Pricing Criteria in N.J.
Jun 13 2006 // Insurance industry representatives urged New Jersey lawmakers not to restrict insurers’ use of certain rating variables including occupation and education in the pricing of auto insurance policies, insisting that the...
Insurance Limbo Delays Gulf Coast Rebuilding
Jun 13 2006 // The owners of the sagging, flood-stained home in New Orleans aren’t in. Above the front door, a banner explains their absence, and the lack of progress: “Allstate paid $10,113.34 on this house for storm...
Texas Insurer Group Says Alberto May be Omen for Rest of Season
Jun 13 2006 // Tropical Storm Alberto should be a warning to all coastal residents in Texas that the 2006 hurricane season may exceed the expectations for an overly active storm season. The Insurance Council of Texas urges everyone...
N.H. Gov. Lynch to Sign Premium Tax Cut Legislation
Jun 12 2006 // New Hampshire Gov. John Lynch is “inclined” to sign a measure cutting the state’s insurance premium tax in half, according to his communications director. Pamela Walsh told Insurance Journal the governor...
Davis Makes Proposals to Fix Florida’s Property Insurance Problems
Jun 12 2006 // Windstorm insurance companies would have to cover water damage caused by hurricanes under a proposal Democratic gubernatorial candidate Jim Davis released June 9, part of a multi-pronged proposal to solve the problems...
Insurer Group Warns of Problems with Proxy Voting Forms for La. Insurance Guaranty Association Board
Jun 12 2006 // The Property Casualty Insurers Association of America (PCI) is urging Louisiana insurers to make certain that they are using the proper proxy form for the June 15, 2006, election of the Louisiana Insurance Guaranty...
S&P Alters Approach to Gauging Insurers’ Terrorism Exposure
Jun 8 2006 // Standard & Poor’s Ratings Services said it is changing its process for evaluating the terrorism exposure of insurers and reinsurers. The updated process is partly a response to the increased insurance retentions...
CAA Elects New Management Committee
Jun 6 2006 // At its annual meeting May 24-25, Combined Agents of America LLC (CAA), based in Austin, Texas, announced its newly elected 2006 management committee, including CAA’s new president, Bill Bridges, executive vice...
Earnings High For U.S. Commercial Lines Insurers, S&P Reports
Jun 6 2006 // At the midpoint of 2006, many commercial insurers are generating exceptional earnings, according to an article published by Standard & Poor’s Ratings Services. The article, which is titled “U.S. Commercial...
Mass. Proposal Would Phase-In Competitive Rating Over 5 Years; Retain Some Subsidies
Jun 5 2006 // Massachusetts would phase-in competitive rating of private passenger auto insurance over a five year period utilizing “flex band” rating while retaining certain subsidies and restricting how high liability...
N.J. Drivers ‘Clear Winners’ Under ’03 Reforms, Claims Industry Report
Jun 5 2006 // New Jersey drivers are the “clear winners” due to auto insurance reforms enacted by lawmakers in 2003 according to the Property Casualty Insurers Association of America (PCI), which released a report about the...
California Commissioner says insurers earning ‘excess profits’
Jun 5 2006 // California Insurance Commissioner John Garamendi has released a new report, “Lower Claims, Higher Profits: Where Do Your Premium Dollars Go?” on the profitability of homeowners and private passenger automobile...
Legal and effective incentive compensation still under fire
Jun 5 2006 // There is a critical need to preserve the right of insurance companies to determine how best to compensate the insurance agents and brokers who sell their products. In this regard, the insurance industry is like virtually...
