Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
The Politics of Mold
Feb 25 2002 // The politicians have gotten into the fray. Sounding off on the twin issues of severe rate hikes for homeowners insurance and the scourge of mold/water damage claims that insurers insist are threatening their very existence...
Catastrophe Modeling-Feeding the Risk Transfer Food Chain
Feb 25 2002 // The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic...
NYSID Issues Guidelines for Insurers on CPA Consulting Payments
Feb 22 2002 // Superintendent of Insurance Gregory V. Serio announced that the New York State Insurance Department has issued guidelines for the insurance industry concerning the disclosure of consulting work performed by independent...
Insurers Applaud NAIC for Joining Fight Against OCC Attempt to Preempt State Regulation
Feb 21 2002 // Insurers praised the recent decision by the National Association of Insurance Commissioners’ (NAIC) Functional Regulation Working Group to file an amicus brief against the Office of Comptroller of the...
ISO, Seisint to Provide Accurant Products to Insurers to Fight Fraud
Feb 21 2002 // Insurance Services Office Inc. (ISO) and Seisint, Inc. announced a licensing agreement to provide insurers’ claims and special investigation units (SIUs), and subrogation personnel access to a wide range of public...
Wash. House And Senate Approve Bills Restricting Insurer Use of Credit Scores
Feb 21 2002 // Two measures approved over the weekend by the Washington State House and Senate restricting insurers’ use of credit scores could result in higher rates for the majority of policyholders, the American Insurance...
Garamendi Returns $20,000 in Campaign Funds to Insurers
Feb 21 2002 // Politician John Garamendi recently announced that he returned $20,000 in political donations that he claimed he erroneously received from insurance concerns in two previous campaigns, according to the San Francisco...
NH Insurance Dept. Adopts AIA Proposal on Credit Scoring
Feb 20 2002 // The New Hampshire Insurance Department has validated the opposition of the American Insurance Association to a proposal to require prior written approval from consumers before insurers can use credit scoring by withdrawing...
Minn. House Committee Approves Scoring Bill
Feb 20 2002 // The Minnesota House Commerce committee has approved legislation that would prohibit insurers from canceling or non-renewing a consumer based only on their credit-based insurance score. The bill (HF 2492) originally banned...
Insurers Support NAIC’s Draft on Self-Audit Privilege
Feb 20 2002 // National Association of Insurance Commissioners’ (NAIC) draft language on self-audit legislation will help insurers comply with state laws and regulations without opening their doors to frivolous lawsuits or...
ACE, XL Reach Accord with Silverstein on WTC Claims
Feb 18 2002 // Settlement negotiations have been successfully concluded between Silverstein Properties, the master leaseholder on the destroyed World Trade Center, and ACE Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd, operating...
Twenty-One States Introduce Bills to Ban, Restrict Use of Credit-Based Scoring
Feb 15 2002 // As of Feb. 12, 2002, 21 states have introduced bills that would ban or restrict the use of credit-based insurance scoring according to the National Association of Independent Insurers. On Feb. 13, the Minnesota House...
Ohio One of First States to Eliminate Paper Filings for Insurers
Feb 14 2002 // Ohio Department of Insurance Director Lee Covington announced that Ohio is among the first states to no longer require insurance companies to make paper financial statement filings to the Department of Insurance. The...
Changes to NAIC’s Record Retention Model Could Require Amendments to Existing State Statutes
Feb 14 2002 // Suggested changes to the National Association of Insurance Commissioners’ (NAIC) Market Conduct Record Retention Model Regulation could require that state legislatures amend existing statutes in order to achieve...
AK Gets Bill Banning Insurers’ Use of Credit-Based Scores
Feb 14 2002 // Alaska has joined the growing number of states considering legislation to prohibit insurers from using credit-based insurance scores. “This legislation would result in higher insurance premiums for most consumers in...
Neb. Says No to Some Terror Exclusions, Yes to Those for Mold
Feb 13 2002 // The Nebraska Department of Insurance Director Tim Wagner announced that the department plans to disapprove personal lines exclusions for losses arising from terrorism, including exclusions for so-called nuclear and...
Workers’ Comp Insurers Grapple with Market Changes after 9/11
Feb 13 2002 // Both small and large workers’ compensation insurers are experiencing unsettling challenges to their business thanks to the lack of reinsurance coverage in the wake of the Sept. 11 terrorist attacks according to the...
Wash. Committees Approve Bill Restricting Use of Credit-Based Scores
Feb 11 2002 // Washington State Senate and House committees have approved bills restricting insurers’ use of credit-based insurance scores. If enacted, the law would result in increases in auto and homeowners premiums for many...
PIFC Explains Insurers’ Role for Salvaged Vehicles
Feb 11 2002 // The California Senate Insurance Committee recently convened a hearing with member companies of the Personal Insurance Federation of California (PIFC) to discuss how auto insures are complying fully with state vehicle code...
Commercial Auto Agents: Between a Rock and a Hard Market
Feb 11 2002 // The cyclical ups and downs of the multisegmented arena referred to collectively as commercial auto are nothing new. Though the years referred to as “soft” and “hard” vary in both length and...
