Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Insurers Claim N.J. Supreme Court Ruling is Setback for Auto Market
Jun 14 2005 // Insurance companies are blasting a decision by the New Jersey Supreme Court that they say undermines ongoing efforts to revive the private auto insurance market in the state and jeopardizes cost savings promised to...
States Say Joint Bank-Insurer Regulatory Efforts Paying Dividends
Jun 13 2005 // Joint efforts of insurance and banking regulators over the past several years have provided the foundation for effective communication and coordination between the state insurance departments and the Federal Reserve...
Australian Insurers Back Mandatory Smoke Detectors
Jun 13 2005 // A proposal by the government of New South Wales that would make the installation of smoke detection devices in homes mandatory has received the backing of the Australian insurance industry According to a report in The...
States Close In on Finite Reinsurance Disclosure; N.Y. Agrees to Adopt Model
Jun 13 2005 // State insurance regulators moved closer to final adoption of a model finite reinsurance disclosure regulation at the summer meeting of the National Association of Insurance Commissioners in Boston this weekend. As they...
Investigation of Alleged Overbilling Lands Calif. Chiropractor, Legal Assistant Behind Bars
Jun 13 2005 // An Encino chiropractor and her legal assistant have been arrested and charged with two counts each of insurance fraud following an investigation by the California Department of Insurance (CDI) Fraud Division. Chiropractor...
N.H. Lawmakers Approve Gov. Lynch’s Small Group Insurance Reforms
Jun 10 2005 // Health insurance rates for small businesses in New Hampshire will undergo another sea change after the House voted to support the governor’s reform plan. The reform is expected to help businesses with older or sicker...
Nev. Legislature Wraps Up Session
Jun 9 2005 // The Nevada Legislature wrapped up its session this week, passing a number of insurance-related bills, but failed to take an opportunity to enact proposals that would have modernized Nevada’s regulation of insurance...
FEMA, Insurers, Adjusters Charged in Md. Lawsuit by Isabel Flood Victims
Jun 9 2005 // More than 140 victims of the 2003 tropical storm Isabel are suing Homeland Security Undersecretary Michael Brown, David Maurstad, who runs the National Flood Insurance Program, 17 insurance companies and others charging...
Wharton Study Finds Agents, Brokers Play Critical Role in Buying Process
Jun 8 2005 // Profit-based contingent commissions align the interests of independent agents and brokers and the insurer so that correct pricing of policies is achieved, thereby alleviating adverse selection, reports a new study by two...
Undercover on Underwriting: Spitzer Spills AIG’s Secrets in Civil Complaint
Jun 6 2005 // AG Targets Ex-Execs Greenberg and Smith; AIG Restates Financials; Is Settlement Next? From the 1980s until recently, insurance giant American International Group and its top executives “routinely engaged in...
INSURER GETS CLAIM FOR 20 HEIFERS:
Jun 6 2005 // Vermont State Police are investigating the theft of about 20 heifers from the Chaput Family Farm in North Troy between February and earlier this month. Farm owner Reg Chaput said he suspected theft in February, but...
AUTO INSURANCE SAVINGS TALLIED:
Jun 6 2005 // New Jersey Banking and Insurance Acting Commissioner Donald Bryan recently reported that during the last two years 64 percent of auto insurance policyholders have received rate reductions or special dividends. Since the...
Ocasek Describes Stamping Office Operations at AAMGA University
Jun 6 2005 // Illinois’ surplus line association chief offered a history and overview of the group’s activities in a presentation to the 9th annual meeting of the American Association of Managing General Agents in Orlando,...
Think Moderation on Loss History Reports Regulation
Jun 6 2005 // Homeownership is considered the centerpiece of the American dream. Homeowners insurance enables individuals and families to protect what is likely to be their single largest asset. Before finalizing their purchase, most...
Excess Capital: Too Much of a Good Thing?
Jun 6 2005 // As capital accumulates on insurers’ balance sheets, carriers are figuring out what to do with it if anything at all. The industry is flush with cash after a long hard market and lower corporate bond defaults....
Arizona Homeowners Sue Insurers Over Wildfire
Jun 6 2005 // Homeowners from a vacation mountaintop community northeast of Tucson began filing lawsuits accusing their insurance companies of failing to provide enough coverage on homes destroyed in a June 2003 wildfire. Seventy...
INSURERS LOSE IN STRINGFELLOW ACID PITS JURY TRIAL:
Jun 6 2005 // Insurance companies must pay to clean up a hazardous waste dump, the Stringfellow Acid Pits. A Riverside County, California jury on May 16, 2005 found in favor of the State of California and against CNA, Wausau, Yosemite,...
News Briefs
Jun 6 2005 // MASSACHUSETTS Workers Comp Rates Up 3%: Massachusetts Insurance Commissioner Julianne Bowler has approved a 3.0 percent overall average rate reduction in workers’ compensation rates, a savings of $32.6 million in...
Undercover on Underwriting: Spitzer Spills AIG’s Secrets in Civil Complaint
Jun 6 2005 // AG Targets Ex-Execs Greenberg and Smith; AIG Restates Financials; Is Settlement Next? – Maurice “Hank” Greenberg, AIG CEO, 1992 From the 1980s until recently, insurance giant American International Group...
Nationwide’s Allied Insurance Looking for Agents on East Coast
Jun 6 2005 // The independent agency arm of giant Nationwide Insurance is expanding its reach and looking for agents in the East and South. Allied Insurance, which currently has more than 4,500 independent agency locations in the West...
