Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Financial Commentary
Apr 3 2006 // Do under-reserved property/casualty insurers deserve high ratings? Publicly traded property casualty insurance companies must serve many masters. To be competitive in the marketplace, they must offer products that meet the...
S&P Assigns ‘B-‘ Rating to New NZ Insurer Western Pacific
Mar 31 2006 // Standard & Poor’s Ratings Services announced that it has assigned its “B-” insurer financial strength and counterparty credit rating to New Zealand-based start-up nonlife insurance company Western...
Pa. Court Upholds $7.9M Bad Faith Award Against Medical Insurer
Mar 31 2006 // A Pennsylvania federal court has upheld a $7.9 million award against an insurer for its bad faith in failing to offer plaintiffs the full limits of the policy and for assigning one lawyer to represent two of its insureds...
Association Warns Insurers that Bill Would Impose Hidden Tax to Fund California Campaigns
Mar 31 2006 // The Association of California Insurance Companies is warning insurers that the California Legislature will soon consider a bill that would establish the dangerous precedent of imposing a hidden, multi-million dollar tax on...
P/C Insurers Comment on Repeal of Tort Doctrine
Mar 31 2006 // The Florida Legislature took another important step toward making its civil justice system more equitable by repealing the doctrine of joint and several liability, according to the Property Casualty Insurers Association of...
Insurer Group Urges Lawmakers to Block Trial Lawyers Windfall Profit Bill
Mar 30 2006 // The Property Casualty Insurers Association of America is urging the Illinois House to reject an attempt by the trial bar to enable plaintiffs to receive compensatory damage awards based on the amount of medical expenses...
Association of California Insurance Companies Elects Officers
Mar 30 2006 // Members of the Association of California Insurance Companies (ACIC) in Sacramento have re-elected their officers for a one-year term. Cinda Smith, senior counsel with Geico, was re-elected chair of the board of directors;...
Insurer Groups: Ruling Suggests Flood Exclusion Valid, Enforceable
Mar 30 2006 // Insurance companies believe that even though a court rejected a motion to dismiss the Mississippi case challenging the flood exclusion in standard homeowners insurance policies, the ruling is actually a good sign for the...
Summit Insurance Sells Health Business to Medical Mutual of Ohio
Mar 30 2006 // Summit Insurance Company has signed a definitive agreement to sell its health insurance business to Medical Mutual of Ohio, it announced this week. The agreement, to take effect May 1, 2006, means the transfer of...
Insurer Group Offers Flood Protection Tips for Texas Homeowners
Mar 28 2006 // As part of its ongoing consumer education campaign, the Texas Coalition for Affordable Insurance Solutions is reminding homeowners to protect themselves during the spring flood season. Noting that floods often happen fast...
Fitch Finds Life Insurers/Reinsurers Most at Risk from Bird-Flu Pandemic
Mar 28 2006 // Fitch Ratings has issued a report, “Bird-Flu – Will It Ruffle The Industry’s Feathers?” which indicates that “life insurers and their reinsurers would be most likely to be the hardest hit by a...
Unrestrained Litigation Threatens Miss. Judicial System, Insurers Contend
Mar 27 2006 // While slow but steady progress is being made in improving Mississippi’s judicial climate, the good news is tempered by the threat to the state from unrestrained litigation in the wake of Hurricane Katrina, according...
Insurer’s Sponsorship May Help Renoe-Tahoe Keep PGA Tour
Mar 27 2006 // The Reno-based Employers Insurance Group is providing a sponsorship that the Reno-Tahoe Open organizers secure the tournament’s spot on the PGA Tour for several more years. Employers Insurance Group will provide from...
Wis. Bill Requires Insurers to Cover Cancer Clinical Trials
Mar 27 2006 // Insurance companies will be required to cover cancer patients who take part in clinical trials under a bill signed into law by Gov. Jim Doyle on Friday. Doyle said insurance companies will no longer be able to force cancer...
Court Orders Insurer to Review Denial of Ark. Woman’s Benefits
Mar 27 2006 // A life insurance company should not have discontinued disability benefits for an Arkansas woman suffering from several ailments related to a 1995 car crash, a federal appeals court panel has ruled. The 8th U.S. Circuit...
Insurers Report Progress on Asbestos Liabilities Funding, Says A.M. Best
Mar 27 2006 // During 2004, U.S. property/casualty insurers narrowed the funding gap in their asbestos and environmental loss reserves, principally for asbestos liabilities, as a result of 2004’s pretax charge of nearly $6 billion,...
Most Texas Insurers Profited Despite Hurricane Rita
Mar 24 2006 // Texas home insurers turned substantial profits last year despite Hurricane Rita’s destruction, prompting state regulators to question whether some companies’ rates are too high, the Associated Press...
N.H. House Passes Premum Tax Cut for Insurers; Measure Now Goes to Senate
Mar 23 2006 // The New Hampshire House of Representatives has passed legislation (HB 678) supported by insurers and agents to reduce the state premium tax from two percent to one percent for property-casualty and life...
Insurer Group Says Kan. Workers’ Comp Bill in Senate for Possible Veto Override
Mar 23 2006 // The Property Casualty Insurers Association of America expressed disappointment with Kansas Gov. Kathleen Sebelius’ decision to veto comprehensive workers’ compensation reform legislation. “SB 461 made...
Fla. Lawmaker Pushes Hurricane Insurance Surcharges for Vacation Homes
Mar 22 2006 // Owners of vacation and second homes would be slapped with a 25 percent surcharge on policies obtained from the state’s insurer of last resort under a proposal unveiled by a Senate committee chairman. That’s one...
