Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
S&P Expects Australian Insurers to Handle Bushfires’ Effects
Jan 24 2003 // Standard & Poor’s issued a bulletin indicating that it is “monitoring the effect of the Australian bushfire crisis on the local insurance industry, given that estimates of the insurance claims bill are...
NYSID Announces Licensing of Town Sports Captive Insurer
Jan 24 2003 // The New York State insurance Department announced that a license has been issued to TSI Insurance Incorporated as a captive insurance company in the state. The new captive, previously incorporated by the Department, will...
Industry Forum Told to Expect Higher Tort Costs, Fewer Hard Market Opportunities
Jan 21 2003 // The length of the current hard market should not be overestimated and the creativity of the plaintiff’s bar to impose new costs on insurers should not be underestimated, a panel of outside experts told insurance...
NAII Says R.I. Lead Hazard Regulation Should Exclude Surplus Lines Insurers
Jan 20 2003 // According to the National Association of Independent Insurers (NAII), The Rhode Island Department of Business Regulation (RIDBR)’s Regulation 101 should be rewritten to specifically exclude surplus lines insurers,...
Conning Reports P/C Insurers’ Reserve Deficiency More Than Doubles From a Year Ago
Jan 16 2003 // Despite the P/C industry’s best efforts to have rates keep pace with losses, results are deteriorating, according to new study by Conning Research & Consulting, Inc. In fact, Conning estimates that the...
Hawaii Employers Mutual Signs with Connective Technologies
Jan 16 2003 // Connective Technologies Inc. announced that they had entered into a contract with Hawaii Employers Mutual Insurance Company (HEMIC) to provide real-time upload from the AMS family of agency management systems. The TEAM-UP...
Leucadia National Offers to Acquire Allcity Insurance Company Common Stock
Jan 16 2003 // New York’s Allcity Insurance Company announced that it has received a proposal from its indirect parent company, Leucadia National Corporation, the beneficial owner of approximately 91 percent of Allcity’s...
Metaserver Unveils P/C Carrier Integration Solution
Jan 15 2003 // Metaserver, Inc., a developer of best-of-breed Business Process Integration (BPI) software, announced the first of its packaged solutions targeted specifically for mid-market insurance companies. The initial offering is...
Montana Bill Would Strain Insurance Department Resources
Jan 15 2003 // A “lawyer-friendly” bill that would make it a violation of Montana’s unfair claim settlement practices act if an insurer engages in any single act that violates the statute will strain the resources of...
Perry’s Election Day Contributions Included Insurer Dollars
Jan 15 2003 // Although Texas Gov. Rick Perry insisted during his 2002 re-election campaign that he was not in the insurance industry’s pocket, as charged by his opponent Tony Sanchez, he nevertheless received $15,000 from...
NJ Governor McGreevey Outlines Auto Reform Plans in State Of The State Address
Jan 15 2003 // New Jersey’s Democratic Gov. James McGreevey received plaudits from the insurance industry following his remarks in his “State of the State” address that he would vigorously pursue reforms in the auto...
Florida Insurers Present Senate Committee with PIP Fixes
Jan 14 2003 // Representatives of the Florida insurance industry, including the National Association of Independent Insurers (NAII), outlined to a Senate committee an all-inclusive package of reforms designed to address the state’s...
Alliance Calls for Changes in DE Credit Scoring Regulation
Jan 14 2003 // The Alliance of American Insurers characterized the Delaware Department of Insurance current regulatory proposals on Credit scoring as “a good starting point for addressing the issue,” but indicated that they...
Mich. Legislative Session Concludes with Good News for Insurers
Jan 13 2003 // The Michigan Legislature adjourned a very busy but generally successful legislative session recently. Several bills of interest to property/casualty insurers passed during the last two weeks of the session including...
P/C Insurers Feel $6.6B Decline in Investment Gains in First Half of 2002
Jan 13 2003 // Property and casualty insurers suffered a staggering $6.6 billion decline in investment gains during the first six months of 2002, to $18.1 billion from $24.7 billion during the same period in 2001, according to Weiss...
Fraud, Leaving its Prints on the Industry
Jan 13 2003 // Fraud, in all forms, is as old as the industry itself. Given a struggling economy, the temptation to create fraud against or within the industry has been on the upswing recently. According to Jim Quiggle, director of...
Montemayor Sends Biennial Report, Recommendations to Lawmakers
Jan 13 2003 // Texas Insurance Commissioner Jose Montemayor recently submitted the Biennial Report, required under Section 32.022 of the Insurance Code, to Texas legislators suggesting needed changes in laws relating to insurance...
INSURERS ASKED TO JUSTIFY RATES
Jan 13 2003 // The Texas Department of Insurance (TDI) sent letters in December to the top 10 companies writing homeowners insurance in Texas asking them to voluntarily file their rates by January 2, 2003. TDI also requested that the...
INSURER IN RECEIVERSHIP
Jan 13 2003 // Oklahoma Insurance Commissioner Carroll Fisher obtained a temporary court order placing Fairway Employment Services into receivership. According to the insurance department Fairway, along with a number of affiliated...
Fraud, Leaving its Prints on the Industry
Jan 13 2003 // Fraud, in all forms, is as old as the industry itself. Given a struggling economy, the temptation to create fraud against or within the industry has been on the upswing recently. According to Jim Quiggle, director of...
