Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
By Andrew G. Simpson
Sep 5 2005 // A New York excess lines insurance broker’s use of “sham declinations” to skirt the law on placing coverage with a non-admitted carrier could cost the broker a lot more than just regulatory fines, if a...
Frontier Insurance, in Rehab in N.Y., Moves Closer to Reopening
Sep 5 2005 // Frontier Insurance Company, which was seized by New York officials four years ago, is closer to reopening for business thanks to a recent court decision awarding the New York Liquidation Bureau greater flexibility over its...
Survey: Auto Insurance Buyers Continue to Use Internet More Often
Sep 2 2005 // The number of visitors who turn to the Internet to seek service or obtain an auto insurance quote has increased considerably, according to a new study released by J.D. Power and Associates. “Consumers compelled to...
Miss. Insurers Directed to Grant Grace Periods in Hurricane-Impacted Areas
Sep 2 2005 // Mississippi Insurance Commissioner George Dale has requested all insurance companies doing business in Mississippi to grant a 60-day grace period for collection of insurance policy premiums owed by residents of the state...
Fitch: Katrina May be Most Costly U.S. Insured Loss Ever
Sep 2 2005 // Fitch Ratings on Friday updated its analysis of Hurricane Katrina. The range of estimated insured losses continues to be very wide and Fitch believes it will be a long time before these estimates are refined. Nonetheless,...
Regulators Say Industry Prepared for Katrina’s Cost
Sep 2 2005 // The National Association of Insurance Commissioners (NAIC) says that while the damages from Hurricane Katrina may set record losses, the property and casualty industry maintains the adequate capital and liquidity required...
Fla. Lawmakers Voice Support for National CAT Fund
Sep 1 2005 // Two Florida lawmakers, Sen. Bill Nelson (D-Fla.) and U.S. Rep. Mark Foley (R-Fla.) have voiced their support for a national catastrophe fund that insurance companies would establish to provide extra funding in the event of...
Best: Most Insurers Will Meet Hurricane Katrina’s Financial Commitments
Sep 1 2005 // In response to Hurricane Katrina, A.M. Best Co. has begun to aggregate public and private information in order to assess the financial impact it will have on the global property/casualty insurance and reinsurance...
HRH, Conn. AG Reach $30 Million Settlement on Brokerage Activities
Aug 31 2005 // Hilb Rogal & Hobbs Company, a large insurance and risk management intermediary based in Richmond, Va., has reached an agreement with Connecticut Attorney General Richard Blumenthal to settle charges relating to...
Nationwide Mutual Insurance Company Will Limit Fla. Property Exposure
Aug 31 2005 // The Nationwide Mutual Insurance Company announced today that it will reduce its property exposure in Florida. “As we continue to analyze our business strategy, it has become increasingly apparent that we are not...
Insurer Pays $11 Million in Wisc. Tornado Claims
Aug 31 2005 // American Family Insurance of Madison has paid out $11 million in damage claims so far as a result of the Aug. 18 tornadoes that hit central Wisconsin. The insurer provided an update Wednesday on damage claims stemming from...
Rehabilitation Efforts Move N.Y.’s Frontier Insurance Closer to Reopening
Aug 30 2005 // Frontier Insurance Company, which was seized by New York officials four years ago, is closer to reopening for business thanks to a recent court decision awarding the New York Liquidation Bureau greater flexibility over its...
American Modern, Other Insurers Make Ward Top 50
Aug 30 2005 // Midland Co.’s American Modern Insurance Group made the annual Ward’s 50 Benchmark Group of best-performing insurance companies. Cincinnati-based insurance consulting firm The Ward Group also honored Cincinnati...
Katrina Could Cost Insurers Up to $30 Billion, Forecasters Say
Aug 29 2005 // Oakland, Calif.-based EQECAT, Inc., Oakland, Calif., announced Sunday afternoon that based upon current information provided by the National Oceanic and Atmospheric Administration (NOAA) about Hurricane Katrina,...
Insurers Post Special Toll-Free Numbers to Help Katrina Victims as Storm Moves North
Aug 29 2005 // Policyholders with questions regarding their coverage for damage caused by Hurricane Katrina should contact their insurance agent or company representative. To assist consumers, special toll-free numbers have been set up...
Del. Captive Insurance Association Applauds New State Legislation
Aug 25 2005 // At a ceremonial bill signing held earlier in the week, the Delaware Captive Insurance Association (DCIA) commended the Delaware General Assembly and Delaware Gov. Ruth Ann Minner for the recent passage of House Bill 218,...
AIA Disturbed by New Federal Motor Carrier Rules
Aug 25 2005 // The American Insurance Association (AIA) is reportedly extremely disappointed that the federal agency overseeing motor carrier safety has approved new rules that would allow commercial truckers to drive more with less...
TBIC Earns Rating of A
Aug 25 2005 // Texas Builders Insurance Company has earned a Financial Stability Rating (FSR) of A, Exceptional from Demotech Inc. This level of Financial Stability Rating is applicable to insurers possessing exceptional ability to...
PCI Disappointed with Recent Dialogue on NAIC Insurer Receivership Model Act
Aug 24 2005 // The Property Casualty Insurers Association of America (PCI) expressed disappointment recently with the latest direction taken by the National Association of Insurance Commissioners’ (NAIC) Financial Conditions (E)...
Lawsuit’s Settlement Requires Insurers to Pay $50M in Jacksonville, Fla. Incinerator Cleanup
Aug 23 2005 // Insurance companies formerly insuring Jacksonville, Fla. will pay $50 million, while the city will pay $25 million, in the $75 million settlement of a class-action lawsuit filed in 2003 by local residents. The city has...
