Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Case Law Watch
Apr 3 2006 // Auto-Liability Fields v. American Central Insurance Co. (La. App., 2nd Dist., March 8, 2006) Undated named driver exclusion endorsement sufficient to defeat coverage: Lensing was involved in a June 18, 2003, auto accident...
Texas insurers see profits despite Hurricane Rita
Apr 3 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...
News Currents
Apr 3 2006 // TDI’s Selden explains department’s high tech, high touch approach And tells a good news/bad news story along the way Texas Department of Insurance Senior Associate Commis-sioner for Consumer Affairs Audrey...
Take the pollution out of your D&O policy
Apr 3 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...
Closer Look: Insurance Associations
Apr 3 2006 // Editor’s note: This is the first article in a series on Western insurance associations. Part II of this article will appear in a future issue. As people migrate to the West to enjoy the weather and opportunities for...
Case Law Watch
Apr 3 2006 // Bechtel Petroleum Operations Inc. v. The Continental Insurance Co. (California Court of Appeals, 2nd District, March 6, 2006) Ruling: At issue on this appeal was whether the insurers had a duty to defend lawsuits filed by...
Measuring Risk: Insurers’ day of reckoning arrives
Apr 3 2006 // “The ultimate objective is for an insurer is to use an ERM framework to better understand and manage the correlation and diversification of risk across the company and uses this information to determine overall risk...
Consumer group accuses Geico, other insurers of unfair underwriting
Apr 3 2006 // News Currents A U.S. consumer group has made claims that Geico Corp. uses rate-making methods that directly base eligibility and premiums solely upon the educational background and occupation of consumers. The Consumer...
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...
