Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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....
For Boat Owners and the Agents Who Write Them, Location and Experience Matter
Jun 6 2005 // There were more than 17.6 million recreational boats in use in the United States in 2004, and an estimated 69 million people involved in boating activities, according to the National Marine Manufacturers Association. Since...
Enhanced Online Policy Access
Jun 6 2005 // The Drive Group of Progressive Insurance Companies expanded its partnership with Strategic Insurance Software to implement a real-time interface, using ACORD XML standards, that provides independent agents and brokers...
For Agents Facing Evil Internet Wizards, Security is a Matter of Liability as Well as Downtime
Jun 6 2005 // Viruses, Worms and Hackers, Oh My! In 2001, Boston-area independent agent Peter Anderson noticed that his agency’s network server was dramatically losing hard disk space. The last time he’d checked it, there...
The British Are Coming! No – They’re Already Here
Jun 6 2005 // Over 200 years ago Paul Revere rallied the Minutemen with the cry: “The British are coming!” He’d be somewhat surprised to learn of today’s more benign invasion by a number of British insurance...
Insurers Move to Block N.Y.-N.J. Port Authority $2.1B Claim From 9-11
Jun 3 2005 // Responding to a new claim by the Port Authority of New York and New Jersey that it is separately insured for a $2.1 billion “shortfall” in Silverstein property insurance following the Sept. 11, 2001 terrorist...
S&P Lowers Ratings of Austrian Insurer UV to ‘A-‘; Outlook Stable
Jun 2 2005 // Standard & Poor’s Ratings Services announced that it has lowered to “A-” from “A” its counterparty credit and insurer financial strength ratings on UNIQA Versicherungen AG (UV) as well as...
Some Insurers Decreasing Homeowners Rates in Texas
Jun 2 2005 // One in six Texas homeowners could see reduced insurance rates this year, the Associated Press and Houston Chronicle reported. Several small insurance companies have filed their rate changes for 2005 indicating rate...
The Hartford Chosen as Preferred Commercial Insurer by National Association of Wholesaler-Distributors
Jun 2 2005 // The National Association of Wholesaler-Distributors (NAW), representing more than 40,000 wholesale- distribution companies across the country, has selected The Hartford Financial Services Group Inc. as its endorsed...
Mass. Gov. Proposes Good Driver Rate Rollback in Plan to End ‘Soviet-Style’ System
Jun 1 2005 // Massachusetts auto insurers would be required to provide up to a five percent discount to good drivers with clean records but be able to set other rates up to a cap of 15 percent on liability coverage under an auto...
KFF: Medical Malpractice Claims Stable; FTCR Reports Time to Focus on Insurers’ Practices
May 31 2005 // The chief argument for legislation to limit the legal rights of patients injured by a physician – that the number of medical malpractice claims and the cost of those claims have been skyrocketing – is a...
Five W. Va. Insurers Pledge to Cut Auto Premium Rates
May 30 2005 // Five of West Virginia’s largest carriers have pledged to lower premiums by more than $54 million, according to Insurance Commissioner Jane Cline. Within the past month State Farm, Nationwide, Erie, Allstate and...
TDI Reports April Enforcement Actions
May 27 2005 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Jose Montemayor that became final during the month of April. The actions include eleven license revocations, a license denials and fines...
AIA Opposes California Bill to Limit Home Inventories
May 26 2005 // A bill approved by the California Senate May 25 that prevents insurers from requiring claimants to itemize personal property lost in a disaster is well intended, but will invite padding of claims and raise costs for all...
With No Major Surprises, Iowa Legislature Ends on Positive Note
May 25 2005 // Pleased with no last minute surprises to insurers, the Property Casualty Insurers Association of America (PCI) has commended the Iowa Legislature and Gov. Thomas Vilsack for taking positive and progressive steps on this...
N.J. Drivers Geared Towards More Savings in 2005
May 25 2005 // New Jersey Banking and Insurance Acting Commissioner Donald Bryan recently announced that during the last two years 64 percent of auto insurance policyholders have received rate reductions or special dividends. Since the...
Owners of Arizona Homes Burned by Wildfire Sue Insurance Companies
May 25 2005 // Homeowners from a mountaintop community northeast of Tucson began filing lawsuits May 24 accusing their insurance companies of failing to provide enough coverage on homes destroyed in a June 2003 wildfire. Roughly 70...
Rhode Island House Backs 60-Day Limit on Uninsured Driver Claims
May 24 2005 // The Rhode Island House of Representatives passed a bill last week that would require insurance carriers to respond to a request to settle with an uninsured driver within 60 days of the request; if the request has not been...
CONN. DOG BILL WOULD MUZZLE INSURERS:
May 23 2005 // Led by Connecticut state Rep. Melissa Olson whose home insurance was cancelled because she owns a dog, the House of Representatives narrowly passed a bill that bans insurance companies from refusing coverage based only on...
Excess Capital: Too Much of a Good Thing?
May 23 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....
