Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Homeowners Want ‘Uncovered Perils’ Clarified; Fla. Legislators Won’t Budge
Apr 1 2005 // Homeowners with outstanding claims for hurricane damage and their attorneys, insurance company lobbyists and Florida’s House Insurance Committee members all disagree about if an insurance company is liable if a...
W. Va. Judge to Decide: Should E-Mails Discussing Premium Rollbacks Be Made Public?
Apr 1 2005 // West Virginia Circuit Court Judge Paul Zakaib is expected to decide Friday whether or not to make public the contents of emails detailing negotiations between the West Virginia Insurance Commission, an aide to Governor Joe...
N.Y. Court Upholds No-Fault Regulation Letting Insurers Deny Payments to Fraudulent Medical Firms
Apr 1 2005 // The New York Court of Appeals has upheld the right of an insurance company to refuse to reimburse fraudulently incorporated medical providers for no-fault auto insurance claims even when the medical care provided is...
Calif. Commissioner Announces Legislation Requiring Insurers to Invest in Underserved Communities
Mar 31 2005 // California Insurance Commissioner John Garamendi and Assembly member Mark Ridley-Thomas (D-Los Angeles) introduced AB 925, a new piece of legislation that would require insurers to make investments in low- and...
New GAO Study: U.S. Needs Government Help to Insure for Catastrophes and Terrorism
Mar 31 2005 // A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of...
N.Y. Toughens Reporting on Finite Reinsurance
Mar 30 2005 // The New York State Insurance Department has decided it will require insurers’ chief executive officers to verify that any finite reinsurance contracts their companies have are correctly reported. The CEOs will be...
Fla. CFO Seeks to Clarify Reported Confusion with Storm Claims, Outlines Options to Help Consumers
Mar 30 2005 // Florida’s Chief Financial Officer Tom Gallagher on Wednesday raised concerns with confusing policy language and recommended solutions for helping consumers navigate through their homeowners insurance policies and...
Calif. Consumer Advocate Rosenfield Urges Mass. to Repeal No-Fault, Make Other Auto Changes
Mar 29 2005 // Massachusetts should repeal its no-fault law, end its reliance on uniform state-set rates, and remove the state antitrust exemption for auto insurers if it wants to improve its auto insurance system for consumers. That...
Insurers File Suit to Stop Mich. Credit Scoring Ban
Mar 29 2005 // As planned, a group of Michigan property/casualty insurers has filed a lawsuit challenging the state’s new rule set banning their use of credit scores in auto and homeowners insurance and reducing base...
Alabama Insurance Commission Deadline Passes, Insurers Have 30 Days to Pay Claims
Mar 29 2005 // The March 25 deadline, set by the Alabama Department of Insurance for insurers to settle Hurricane Ivan-related claims or report to the department why they have not been settled, has passed and according to a DoI...
Tower Group Completes Buy of 9 Insurer Licenses
Mar 28 2005 // Tower Group, Inc.has completed the acquisition of North American Lumber Insurance Company, an insurance company with active licenses in the nine states which it plans to use to expand. The states are New Jersey,...
Insurers Consider NAIC Broker Compensation Disclosure Amendment Overbroad
Mar 28 2005 // The National Association of Mutual Insurance Companies (NAMIC) said it has sent a letter to NAIC President Diane Koken, who also serves as chair of the executive task force on broker activities, to reaffirm its view of the...
Fla. Legislators Hammering Out Property Insurance Regulations, Changes
Mar 25 2005 // Major changes in Florida’s property insurance system are being mulled over by Florida lawmakers after the House and Senate have both been wrestling with the topic and have now hammered out changes to tighten up the...
ABI Says Authorities Expose $6.55 Million a Week in U.K. Insurance Fraud
Mar 24 2005 // According to figures recently issued Association of British Insurers (ABI), the “net is tightening” on the U.K.’s insurance cheats. The figures show a “dramatic rise in the value of fraudulent...
German Cartel Office Levies Fines on 10 Insurers for Price Fixing
Mar 24 2005 // According to news reports, from the Associated Press, Reuters and other sources, Germany’s Cartel Office has levied fines totaling 130 million euros ($170 million) against 10 companies charged with having colluded to...
Court: Insurer Must Pay Tyco CEO’s Legal Costs for Now
Mar 24 2005 // A Chubb Insurance subsidiary that provided liability for the executives of Tyco International must pay the legal bills of that company’s former chief executive officer, L. Dennis Kozlowski, who is on trial charged...
Mich. DOI Study Finds Competition Doesn’t Equal Affordability; Insurers Say Losses Driving Rates
Mar 24 2005 // Michigan’s Office of Financial and Insurance Services last week released the results of its long-awaited study of competitiveness in the state’s insurance market. While the report found competition under the...
Alldredge Named to Coordinate Mutual Insurers’ State Advocacy Strategies
Mar 23 2005 // The National Association of Mutual Insurance Cos. announced that Neil Alldredge has been named senior director of state advocacy. In his new capacity, Alldredge will be responsible for development and execution of all...
PCI: Fla. Hurricane Cat Fund Changes are Key to Property Market Stability
Mar 22 2005 // The Property Casualty Insurers Association of America (PCI) is urging the Florida Legislature to establish an annual hurricane deductible for insurers and lower the threshold of losses that an insurer must sustain before...
Fight Over Credit Ban Moves to Colo. Senate Floor
Mar 22 2005 // Legislation that would prohibit insurers’ use of credit information narrowly advanced out of the Colorado Senate State Affairs Committee Monday on a 4-3 vote and will be opposed by the insurance industry on the...
