Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Sarbanes-Oxley Rules Drive Up Large Insurers’ Audit Costs
May 9 2005 // Fortune 1000 companies’ auditing costs have increased by $1.4 billion collectively so far, and much of this increase is in response to the corporate governance act known as Sarbanes-Oxley, according to University of...
Keeping Retention Rates High In A Softening Market
May 9 2005 // The success or failure of any organization can be traced to customer retention. Agents and carriers who retain the most customers have greater long-term success than those who consistently lose clients. While many elements...
Mixed Signals on Compensation and Conflicts of Interest
May 9 2005 // RIMS Annual Meeting The risk management community and some of the world’s largest insurance brokers sent mixed signals on the future of contingent commissions for insurance brokers and other potential areas of...
Smiling Through Adversity
May 9 2005 // When her husband Tim died, JoAnn Osmond inherited the family agency … and a career in Illinois Politics. Near the edge of the Illinois-Wisconsin border, closer to Milwaukee than Chicago, in a little town called...
Case Watch
May 9 2005 // Editor’s note: This recurring feature examines insurance coverage decisions in the Midwest’s appellate courts, as compiled by the New York-based law firm of Goldberg Segalla LLP and edited by insurance lawyer...
POWELL, RIDGE AND OXLEY TO ADDRESS INSURERS IN CHICAGO
May 9 2005 // Former Secretary of State Colin Powell, former Secretary of Homeland Security Tom Ridge and U.S. Rep. Mike Oxley (R-Ohio) will be the featured speakers at the 2005 Property Casualty Insurers Association of America’s...
Florida CFO Lauds Passage of Homeowners Insurance Protections for Residents
May 9 2005 // Florida’s Chief Financial Officer Tom Gallagher on Monday said that the homeowners insurance legislation that passed late Friday contains numerous provisions that will benefit Florida’s...
Liberty Mutual Becomes 10th Insurer to Reduce N.Y. Auto Rates
May 9 2005 // Liberty Mutual, a Boston-based insurer with more than a quarter-million New York auto policyholders, has agreed to reduce premiums by an average of three percent. Liberty Mutual’s New York customers, who are insured...
INSURERS OPPOSE POLICE LEVY:
May 9 2005 // State regulators and auto insurance companies doing business in Massachusetts are opposed to a legislative proposal that would impose $15 million in new surcharges on insurers to pay for police training. Insurance...
How to Own an Insurance Company
May 9 2005 // Purchasing a Shell Could be a Smart Move for Some Profit-Seeking Brokers Oft times, managing general agents, wholesalers and insurance brokers feel they are inadequately compensated for the important services they provide...
PCI: Collaborative Effort Yields Positive Results for Insurers in Washington
May 9 2005 // Despite early signs that the 2005 session of the Washington Legislature would impose a series of costly and burdensome measures on the insurance market, the Property Casualty Insurers Association of America saw the most...
WCIRB REPORT ON INSURER EXPERIENCE RELEASED:
May 9 2005 // California’s Workers Compensation Insurance Rating Bureau has completed its quarterly report summarizing the most current insurer loss and premium experience as of Dec. 31, 2004. Among the highlights of the report...
Health Insurer to Pay La. Woman More Than $2M
May 6 2005 // A health insurance company has been ordered to pay a Louisiana woman more than $2 million for delaying the discovery of a spinal tumor, according to the Associated Press. Christaine Hymel, of Mandeville, had to delay an...
Best Affirms Ratings for St. Paul Travelers Insurance Company Ltd.
May 6 2005 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and assigned an issuer credit rating of “a” to St. Paul Travelers Insurance Company Limited (St. Paul) (United Kingdom). Both ratings...
Author Pulls Bill Mandating California Insurer Community Investments
May 6 2005 // The author of a California bill that would mandate insurer community development investments, withdrew the bill from consideration for this legislative session. Assemblyman Mark Ridley-Thomas, will not pursue AB 925...
NAMIC Commends Md. Legislative Focus on Teens; Other Bills Discussed
May 5 2005 // Resisting efforts to impose new regulatory mandates, the Maryland legislature’s enactment of seven bills to enhance the state’s teen driver graduated licensing statutes and provide stricter provisions for...
AIA Urges Lawmakers to Defeat Maine Premium Tax Increase
May 5 2005 // The American Insurance Association (AIA) is urging Maine lawmakers to reject a proposal (LD 1021) that would increase the premium tax by 25 percent. “This tax increase would damage the state’s economy by making...
FBI Targets Insurers in Widening Fraud Probe; Industry Responds
May 5 2005 // The insurance industry, already under scrutiny by state and federal authorities for various practices, now faces another questioner. The Federal Bureau of Investigation has launched a probe of the insurance industry that...
Calif. Credit Regulation Bill Passes First Committee
May 4 2005 // Legislation sponsored by the Association of California Insurance Companies (ACIC) to impose strong regulation of the use of credit information by homeowners insurers passed its first committee test today. The bill, AB 1454...
Mass. Tightens Finite Reinsurance Rules; States Weigh Accounting Change
May 3 2005 // While the National Association of Insurance Commissioners is considering changing the accounting rules for finite reinsurance transactions, Massachusetts is proceeding with a tightening of its own reporting...
