Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Gov. Bush Inks Premium Tax Database Legislation
Apr 27 2004 // Florida Gov. Jeb Bush on Tuesday signed into law a bill creating an electronic database for insurers to use in allocating insurance property and casualty premium taxes. “H.B. 251 is a major step forward in...
Reports Differ Over Pa. Med-Mal Claims
Apr 26 2004 // Insurance companies and other underwriters in Pennsylvania reported paying less for malpractice claims against medical professionals last year, according to a federal agency, even though doctors complain that rising...
PCI Responds to CFA Opposition to TRIA Extension
Apr 23 2004 // The Property Casualty Insurers Association of America has issued a quick response to the report issued by the Consumer Federation of America (CFA), which said that extension of the Terrorism Risk Insurance Act was largely...
Judge: Louisiana Owes $1.2M to Failed Insurer
Apr 23 2004 // A judge in Baton Rouge, La. awarded the owner of a failed insurance company more than $1.2 million from the state, years after two former consultants pleaded guilty to illegally handling the company’s assets. The...
Consumer Study Disputes Need for Renewal of Terrorism Reinsurance
Apr 22 2004 // The nation’s terrorism insurance law is not necessary to ensure the availability of affordable terrorism coverage for most areas of the country and should be allowed to expire, according to a study released by the...
Fisher Approves Rate Hike for Med-Mal Insurer
Apr 22 2004 // Insurance Commissioner Carroll Fisher recently announced that a request for a rate hike by Oklahoma’s third largest writer of medical malpractice insurance has been approved. The Oklahoma Insurance Department...
Texas AG Settles Refund Agreement with Auto Insurers
Apr 21 2004 // Texas Attorney General Greg Abbott’s final settlement with two auto insurers will result in estimated refunds of more than $700,000 to Texas policyholders who paid more on their claims for auto repairs than their...
Profit at Insurer Safeco Zooms on Higher Premiums
Apr 21 2004 // Safeco Corp. said April 20 that its first-quarter profit more than doubled from a year ago, as premiums rose in its property-casualty insurance operations. The Seattle-based insurer reported net income of $236.2 million,...
Willis Reports on Insurance Marketplace Conditions
Apr 20 2004 // Willis Group has also issued a report on market conditions in the industry (see related articles). The international broker said it had reached the following conclusions: — Competitive conditions return to certain...
ISO Symbols Rate Liability By Make and Model
Apr 19 2004 // Insurance Services Office, Inc. (ISO) has introduced a personal auto rating program carriers can use to tailor the cost of insurance for bodily injury and property damage liability and no-fault/medical payments coverage...
2 MICH. AUTO INSURERS FACE PENALTIES FOR LATE DATA:
Apr 19 2004 // Michigan Office of Financial and Insurance Services (OFIS) Commissioner Linda Watters said that two insurance companies that failed to submit information requested through an auto insurance data call by March 15 now face...
Terrorism Tops List of Concerns for Workers’ Comp Professionals
Apr 19 2004 // Industry executives in the workers’ compensation field from across the nation gathered in Las Vegas Feb. 5-6 for the 5th Annual AMCOMP (American Society of Workers’ Comp Professionals Inc.) Meeting &...
Legislators CLUE in to Loss Reports
Apr 19 2004 // Among the many topics addressed by the property and casualty insurance committee of the National Confer-ence of Insurance Legislators (NCOIL) at its meeting in San Antonio Feb. 26 – 29, was the comprehensive loss...
Court Decision Threatens Stability in California’s Insurance Market
Apr 19 2004 // If after 16 years of off-and-on court cases, attempting to interpret the ambiguous and contradictory language of Proposition 103 isn’t enough, this month, another interpretation came down from the Second District...
Securities Litigation Landscape Poses Continuing Challenges for D&O Insurers
Apr 19 2004 // The securities litigation landscape remains challenging for all involved in the directors and officers market, executives attending the 2004 PLUS D&O Liability & Insurance Issues Symposium were told. Introducing...
Mass. Streamlines and Equalizes Agents’ Access to CAR’s Commercial Auto High Risk Operation
Apr 17 2004 // The Massachusetts auto insurance industry is streamlining the way it handles high risk commercial auto risks by reducing the number of servicing carriers involved in handling them and equalizing access to the residual...
Loss Reserve Adequacy, Fair Value Accounting Among Topics at CAS Spring Meeting
Apr 15 2004 // The truth about loss reserve adequacy, from the perspective of a regulator, an investor and an attorney, and the rationale behind the implementation of fair value accounting standards will be among the topics featured at...
HSB Introduces Packaged Equipment Breakdown Coverage for Insurers Serving Farm and Ranch Owners
Apr 14 2004 // Farms have changed, and so have the risks. The addition of computer-controlled technology to traditional farm equipment has significantly increased exposures, yet many farms lack insurance protection when equipment breaks...
P/C Net Income Propels Surplus
Apr 14 2004 // The property/casualty insurance industry’s net income after taxes rose to $29.9 billion in 2003 — nearly 10 times the industry’s $3 billion in net income in 2002. Benefiting from both the $29.9 billion in net...
Texas Med-Mal Insurer Plans Rate Hike
Apr 13 2004 // A large medical malpractice insurer plans to bypass Texas regulators in order to raise insurance rates for doctors, the Associated Press reported. GE Medical Protective will increase the cost of premiums 10 percent on June...
