Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Former Marsh CEO Reportedly Building Fund to Invest in Insurers
Oct 12 2005 // Jeffrey Greenberg, former Marsh & McLennan chief executive officer, is raising funds for a private equity fund that will invest in insurance and other financial services companies, the Wall Street Journal has...
HCC Insurance Holdings to Acquire GM’s Life Insurer
Oct 12 2005 // HCC Insurance Holdings Inc. has agreed to acquire MIC Life Insurance Corporation from Motors Insurance Corporation, a subsidiary of GMAC Insurance Holdings Inc., for an undisclosed consideration. MIC Life is currently...
Redmer Resigns as Maryland Chief to Take Health Insurer Position
Oct 12 2005 // Maryland Insurance Commissioner Alfred W. Redmer is leaving his state job to become chief executive officer of Coventry Health Care, a Delaware-based health insurance company. “It’s just a perfect...
Austrian Insurers Need Better Risk Assessment Says S&P
Oct 11 2005 // Despite the fact that the Austrian insurance industry came off “relatively lightly from the recent summer floods,” Standard & Poor’s Ratings Services said it “believes the event reinforces the...
New Report Gives Tips for Railroad Transport Insurers
Oct 11 2005 // With costs for energy rising, there may be renewed interest in shipping by more by rail and less by truck when considered economically viable, according to a new report by the Inland Marine Underwriters Association (IMUA)...
Universal Insurance Company of Texas Adds Staff
Oct 11 2005 // Universal Insurance Holdings of North America announced it has added new members to the Universal Insurance Company of Texas (UICTX) team, based in San Antonio. Katherine Moore, vice president of Texas operations for UICTX...
Canadian Insurers Launch Toll-Free National Insurance Crime TIPS Line
Oct 6 2005 // Canada’s home, car and business insurers announced the launch of a national insurance crime TIPS line to make it easier for Canadians to report auto theft, insurance fraud, staged auto collisions and other crimes...
Insurers Appointing N.J. Agencies in Record Numbers, Reports PIANJ
Oct 6 2005 // Insurance companies are making new agency appointments in New Jersey in record numbers, according to a recent member survey by the Professional Insurance Agents of New Jersey Inc. The association annually updates its data...
Record First-Half, Surplus Boost P/C Insurers’ Ability to Pay Hurricane Losses
Oct 5 2005 // The U.S. property/casualty insurance industry’s net income after taxes rose 29.1 percent to a record $30.9 billion in first-half 2005 from $23.9 billion in first-half 2004. Reflecting the industry’s income, its...
Calif. Commissioner Reports Distribution of $386M to Policyholders Involving Bankrupt Insurers
Oct 5 2005 // California Insurance Commissioner John Garamendi announced Wednesday that $386 million has been distributed this year to policyholders and claimants of insolvent (bankrupt) insurers liquidated through the state’s...
Hurricane Katrina Will Not Disrupt Market, Insurers Say
Oct 5 2005 // While property/casualty industry expects insured losses from Hurricane Katrina to reach a record high of $34.4 billion, the Property Casualty Insurers Association of America says insurers will weather the storm of more...
Ohio, Ky. Insurers Reach Agreement in Lawsuits Filed in 2002
Oct 4 2005 // Greater Cincinnati and Northern Kentucky physicians have reached an agreement with Anthem Blue Cross and Blue Shield in Ohio and Kentucky stemming from lawsuits filed in 2002 against several insurers. Courts in Boone and...
Mass. Alters Formula for Sharing High Risk Auto Insurance Business
Oct 4 2005 // Some 18 months after a report called the current system unfair and inequitable and three months after a court halted a substitute plan, the Massachusetts Division of Insurance has approved a modification in the way high...
Fiebrink Tabbed as President, COO for Wausau Insurance Companies
Oct 4 2005 // Wisconsin-native Mark Fiebrink, an executive vice president for the Liberty Mutual Group, was named president and chief operating officer of Wausau Insurance. Fiebrink replaces Joe Gilles, who will assume a new leadership...
A.M. Best Assigns Ratings to Progressive’s N.J. Insurers
Oct 3 2005 // A.M. Best Co. has assigned the financial strength ratings of A+ (Superior) and issuer credit ratings of “aa” to Progressive Garden State Insurance Company, Progressive Freedom Insurance Company and Drive New...
Brian Sullivan: The Industry is Changing — Really
Oct 3 2005 // Even though we’ve heard it many times before, the insurance agency business is on the cusp of huge changes, driven in part by technology, a host of new and better insurance products, and increased stability on the...
Miss. Attorney General Hood Accuses Carriers of Cheating
Oct 3 2005 // Five major insurance companies were recently sued by Mississippi Attorney General Jim Hood, who charged that insurance adjusters attempted to cheat Hurricane Katrina survivors out of millions of dollars in...
ALA. COMMISSIONER ASKS CARRIERS FOR 60 DAY GRACE PERIOD
Oct 3 2005 // Alabama Insurance Commissioner Walter Bell has asked all carriers to provide a 60-day grace period for customers who have claims related to Hurricane Katrina to prevent the cancellation of policies from late payments.
How Did Catastrophe Models Weather Katrina?
Oct 3 2005 // While it’s too early to tell if the highly touted computer catastrophe models met expectations for Hurricane Katrina, there are indications the models didn’t work as well as some insurers had hoped. Several...
Case Law Watch
Oct 3 2005 // Exclusions–Criminal Acts Bamert v. Johnson (La. App. Aug. 17, 2005) Insured claims self-defense/question of fact on applicability of intentional, willful and malicious acts exclusion: This concerned an...
